This article, by Dennis Kissman, was published in Marina Dock Age – January 1997. Many marina owners subscribe to the old adages that if it’s not broken, don’t fix it. This philosophy may work in some businesses, but in a marina, it could put you out of business. Typically, marina facilities deteriorate over time. Oftentimes, owners tend to ignore this gradual decline and learn to live with the problems it creates.
Entries in 1997 (10)
I recently had the opportunity to be one of three faculty members for an International Marina Institute course held in Tampa, Fla., on marina financing and appraising. The topic was presented from three points of view. First, the real estate appraiser’s perspective, which was presented by Mark Stroud of The Stroud Corp. Then there was the lender’s perspective, presented by Harry Neiman of Nations Credit Commercial Corp. And third was my mission to present a buyer’s and seller’s perspective.
I’m not suggesting gloom and doom for marina owners just when were coming out of a downturn in the economy and the future is looking bright, but there is one thing that we do know for sure: The soft economy that we experienced for the past several years will occur again when we are least prepared. However, there are ways we can minimize the impact on marinas. Rather than being proactive, most marina owners and operators react to changes in the economy. If you react, then the effects of a downturn in the economy will surely affect you.
This article, by Gene Spinazola, was published in Marina Dock Age – July 1997. Don’t wait until fall and then say, “Next year, we need to do some emergency planning and training with the employees.” It’s time to do that now.
Many marinas are restricted by laws and ordinances that do not allow live-aboard boaters. But others have the choice whether or not to accept live-aboards, and that decision should be made as a conscious one, and not by default.