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Marinas
First Research, Jan 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US marina industry includes about 3,500 commercial marinas, excluding private yacht clubs, with combined annual revenue of about $3 billion. Major companies include Westrec Marinas, Marinas International, Flagship Marinas, and California Yacht Marina. More than 90 percent of marina operators have only one location. Most marinas are privately owned, but some are operated by municipalities or state agencies.
COMPETITIVE LANDSCAPE
Demand is driven by ownership rates for power boats and sailboats. The profitability of an individual marina depends on location and good marketing. Large and multi-location marinas have the resources to advertise and negotiate better prices with suppliers, builders, and maintenance firms. Small marinas can compete by offering customized services or preferred locations. The industry is labor-intensive: average annual revenue per worker is about $100,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
The main business of marinas is renting slips (dockside spaces) and moorings (anchored buoys). Marinas also sell fuel and other items, provide maintenance services, sell food, and provide winter storage. About 40 percent of industry revenue comes from slip and storage fees, 15 percent from maintenance, 10 percent from marine equipment sales, 10 percent from food sales, and 10 percent from fuel sales.
A typical marina has 50 to 100 slips, but some very large marinas, such as Dana Point Marina in Orange County, California, can have more than 1,000 slips. The major operating activities of a marina are similar to that of a hotel, and revolve around managing rentals,...
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