Inside Self-Storage, August 2000
Marina vs. Off-Water Storage
A primer on the differences between in-water and dry-land storage
by Dennis P. Kissman
There are approximately 13,000 marinas in the United States today with space to accommodate about 1.1 million boats according to a survey conducted by the National Marine Manufacturers Association. This represents about 8 percent of the total registered watercraft in the United States.
Now, before you rush out to get into the marina business, be aware that even though there appears to be an imbalance in the supply and demand, less than 6 percent of the registered watercraft is dependent on marinas for safekeeping. The balance can be kept elsewhere — often away from the water.
On the surface, it appears that anyone with space available could attract boats for storage. To a certain degree this is correct, particularly as the boat population continues to expand and waterfront property becomes too valuable to store boats. The relatively new concept of off-water storage facilities — often referred to as dry-land marinas — is becoming a hot commodity. Why? There are three reasons:
| • | Not enough in-water storage space. |
| • | Environmental concerns regarding the use of waterfront property. |
| • | Population density increases and restrictions being placed on trailer and boat storage in residential communities. |
If you are considering getting into thy dry-land marina business, recognize that these watercraft and boat owners do not require or expect the same levels of services that waterfront marinas typically provide. The questions now become, “How can I capture this market?” and “Is it compatible with my self-storage business?”
Recognizing the Difference, Knowing What to Expect
People often assume that a marina and boat storage are synonymous. This erroneous assumption has been the downfall of many owners of marinas over the years and could be for self-storage owners anticipating getting into the marina business. The definition of a marina is: “A harbor or basin providing berthing, supplies and services to pleasure craft.” By definition, a boat “stored” at a marina is in the care, custody and control of the marina owner while the boat is stored there. On the other hand, in the self-storage business, the owner rents out space for storage purposes to tenants and does not take control of the tenants’ property. This seemingly minor difference can open a Pandora’s box of liability issues if you are not careful. Continue »
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