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Owning a Marina

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Old 08-18-2003, 06:16 PM
  #21
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Hey,

Thanks again for responding. I've re thought about it some and I may just have marine as my hobby and run a small shop later on. Seems that running a marina means more business rather than actual fun boating. So I may just have marine as a hobby and get nice boats and then open up a small shop. There's other marine stuff that I want to do too, in particular get involved with some kind of marine environmental agency. That away when I'm 65 years old I can still go enjoy boating around a Caribbean reef rather than knowing it died. However I still do want to work at marinas and such to get more experience that away I can run a small shop/better knowledge for myself.

Lance
 
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Old 08-18-2003, 07:23 PM
  #22
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Anyone have any idea on round about guesstimate cost to open up a 5 bay marine shop that does engine work, drive work, general repair and installation?

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Lance
 
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Old 08-18-2003, 07:39 PM
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too much
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Old 08-18-2003, 07:43 PM
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lol I figured that one Airpacker. $800,000 or so or more?
 
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Old 08-18-2003, 11:12 PM
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filling it with good customers would be a task!!!!!!!!
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Old 08-19-2003, 05:15 AM
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As was said before, running a marina does cut into your play time. You will have to tend to the customers needs while not taking care of your own. There are times when I watch everybody else out on the river having fun but I still get a good amount of play time in. Alot of the experience depends on what kind of operation you have. The other is how hands on will you be versus hiring somebody else to do the work. My families marina is real small. At this moment we dock 30 boats to include mine which is free dockage for me. A perk. We have a launch ramp open to the public which we charge $7.00 for boats and $5.00 for jetskis. This does not generate a massive amount of money but it helps when you need some quick cash. Other than that, at this point, we just sell ice and beverages not to include alcoholic. We are in the process of getting the documentation to sell alcohol and food but this takes alot of time, effort and money. It should pay off in the end as we are in a good business location. Since we are not too big of an operation, we can get away at times or take turns in running the show. The biggest thing for us, once the marina is opened up and the beginning of the season, is having somebody around to handle anything that can arise. The key is to start small, read affordable, and build it up as you can build up the money. If you jump in too big too fast you will probably fail. Pick out a good location, make a business plan and get the financing. The best cash for least effort part is from the dockage fees. That part is usually problem free and it does not matter how much the boats are used or not. Once they pay, the money is yours. Let me know if I can help in any way. You can email me at [email protected]

Jason Hall
Newport Marina
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Old 08-19-2003, 10:45 AM
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MavFlyBy:

I graduated from law school, passed the bar exam, and put my law career on hold to run the family marina business. That was nearly 18 years ago! I wouldn't change a thing!

The business is now expanded to four full-service marinas, one of the largest Formula dealerships in the world, importing of exotic European boats, etc. Being in the boat business also allowed me to pursue offshore racing as a hobby (it is MUCH easier to afford when you are an industry insider).

Yes, there are other vocations that I could pursue with my education and capital investment that would probably through off a better return than marina ownership, BUT I doubt there are any that could match the quality of life and sheer enjoyment that this industry has afforded me. It is not for everybody, it may not be for you, but it was absolutely the right decision for me. Keep your expectations realistic and ENJOY!

Good luck!

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Old 08-19-2003, 11:25 AM
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These guys have said it all.
You just let me know if you want to jump in the water and install some boat lifts with us..

Tim Gallagher
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Old 08-19-2003, 12:16 PM
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Is there a need to get an Ocean Engineering degree to run a marina/shop or I should I get a degree in my second passion, business? I actually wouldn't mind getting both. Just trying to decide which to get first. Most Ocean Engineering colleges will say that the job market is good and all their graduates got a job without much delay. Some even had a job before they graduated.

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Old 08-20-2003, 09:25 AM
  #30
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Business first bro, that would be the degree best suited to your dream of a marina. Then you could fall back on your other pursuit.

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