Private equity groups have been taking a consistently growing position in the marina space over the past few years. They’ve figured out that marinas can deliver reliable income and add a layer of diversity to a real estate portfolio that isn’t tied to traditional sectors. The appeal comes from recurring revenue, appreciation in property value, […]
Working with teams is always an experiment. Some members respond well to the carrot, while others require a more direct approach to achieve a similar desired outcome. Over time, it becomes clear that monitoring progress and sharing results is crucial for everyone to ensure their goals are well-defined and their progress is on track. A […]
Ask most boaters why they remain loyal to a marina, and you’ll hear as many different answers as there are types of boats in a marina. These range from a mix of big-picture and small-detail answers. Location, dock quality, amenities, and how easy it is to get fuel, as well as how clean the bathrooms […]
We all know that I spend a lot of time on the docks. In my free time, I sit in meetings with our financial team and work with our clients to ensure their books are as clean and “tight” as the docks. Marina operations have more moving parts than outsiders give it credit for, and […]
Ownership changes, management shifts, or even a change in dockmaster can be challenging to even the most loyal customers. People choose a marina not just for location or price, but because of the relationships and routines they’ve built there. A smooth transition and open communication helps protect that trust. It’s about more than handing over […]
Each season, we prepare for our customers to arrive. Not in the sense that we open the doors like a restaurant, but in the concept that during the winter months, we spend a lot of time prepping, making upgrades and adjustments to ensure that “this season” will be the one to remember. But too often, […]
It’s mid-season already, and unlike Major League Baseball, there is no All-Star break in the marina industry. But this is also not the time to let your attention drift and fall into the gentle lapping of the waves against the hull of the boats. We all know that sound, and then we begin to wonder […]
It’s hard to believe that we are already over 1/2 the way through the year, and the boating season in the Mid-Atlantic is cruising by (pun intended). With that in mind, how much revenue are we all leaving on the table, and what can we do about it? Reports this year show that occupancy has […]
Each season, we prepare for our customers to arrive. Not in the sense that we open the doors like a restaurant, but in the concept that during the winter months, we spend a lot of time prepping, making upgrades and adjustments to ensure that “this season” will be the one to remember. But too often, […]
When taking your boat out for a ride this summer, it’s possible for even a calm outing to be interrupted by a sudden boat accident, such as a passenger falling overboard. While no one expects it to happen, this type of emergency is more common than many realize and can put everyone on board at […]