High demand and low supply makes entering the marina industry massively attractive, but the high yield potential is definitely the icing on the cake.
Before you pick up that fork and dig in, though, take a seat and listen to the latest TSN Conversations Unplugged Podcast, “Capitalizing on the Marina Market.” In this episode, Toy Storage Nation President Amy Bix saddles up alongside four experts who’ve already been making their mark in the marina arena.
Questions Addressed
- Please describe the state of the current marina market, and where you see it going in the next five years. What areas do you see the most need now and in the future?
- Are existing marinas typically owned by private families? Is this segment experiencing consolidation and attracting more institutional money?
- How can investors benefit in the marina industry? What are barriers to entry as well as managing operations?
- Does it behoove marinas to upgrade to a “Class A” level, or does that already exist in most markets? What amenities are boat enthusiasts seeking?
- Can you talk us through the challenges of developing a new marina, including entitlements, environmental concerns, dredging, etc.? Is it easier to purchase an existing marina and upgrade, or is it more beneficial to develop from scratch?
- What upgrades should be considered?
- Would it make sense for current marina owners to consider adding RV and boat storage to a marina site or simply add it to their portfolio?
- Is marina clientele seasonal? Is there a need for dry storage for the off-season?
- Does it make sense for RV and boat storage manufacturers to diversify and include products for the marina market, such as canopy and enclosed structures? How about crossovers in management software?
- What are the keys to running a profitable marina business when it comes to customer conveniences and amenities?
- How about other hospitality services, such as food and beverage services? Is this an industry that blends with restaurants and hotels?
- Do you see any other synergies or similarities between the Class A RV and boat storage market and marina markets?
