Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 3,500 marina companies in the US operate docking and storage facilities for water craft and offer boating-related goods and services. Most companies offer both temporary (overnight, daily) and long-term (annual, seasonal) rentals. Many marinas provide maintenance and repair services for boats. Companies may sell fuel, marine supplies, meals and beverages, and sports and recreational equipment. Some marinas offer boat rentals or sell boats.

Seasonality And Weather

Boating is a seasonal activity, particularly in markets with long winter periods.

Dependent On Boating Industry And Economy

Because boating is a recreational activity, demand for marina services is vulnerable to changes in the economy and the corresponding effect on the boating industry, particularly new boat sales.

Industry size & Structure

The average private marina operates out of a single location, employs 8-9 workers, and generates $1-2 million annually.

    • The marina industry consists of about 3,500 companies that employ 31,000 workers and generate $5.1 billion annually.
    • Marina may be privately-owned, or associated with municipalities or cooperative entities (home owners associations, condominiums, yacht clubs).
    • The industry is highly fragmented; the top 50 firms account for about 19% of industry sales. The vast majority of marinas are independently owned and operated.
    • Marina Del Rey, CA has one of the world's largest man-made marinas with over 4,600 boat slips.
                            Industry Forecast
                            Marinas Industry Growth
                            Source: Vertical IQ and Inforum

                            Recent Developments

                            Dec 8, 2022 - Return Of The Mask?
                            • • More public-health officials and doctors are encouraging masking to protect against respiratory diseases flu and RSV, in addition to Covid-19. Experts disagree, however, on whether masks are enough — and whether people are willing to wear them after the country has largely moved on from pandemic precautions—is another matter. “I’m not optimistic” that people are willing to mask again, says Eric Topol, director of the Scripps Research Translational Institute in La Jolla, Calif. “There’s such a reluctance to go what is considered backward, even though it’s actually forwards in terms of helping one another.” Masks help provide protection against flu and RSV, medical experts say, as do other precautions. RSV, a common respiratory virus, also often spreads through expelled virus particles on surfaces, so frequent handwashing and cleaning of contaminated surfaces can help fight its spread, says Scott Roberts, an infectious disease specialist at the Yale School of Medicine.
                            • The average boat owner age has dropped to 46 in 2022 from 58 before the pandemic, according to Marina Dock Age. New boat sales surged 40% during the pandemic. About 95% of recreational boats in the US are less than 26 feet in length, however. Owners of boats that are smaller in size, can avoid slip fees by storing the boat in their back yard.
                            • Dallas, TX, is becoming the nation’s marina industry hub, according to Dallas News. The city is home to the two largest players in the marina industry, Safe Harbor Marinas and Suntex Marina Investors. They’re acquiring marinas around the country, advancing a trend of consolidation that has taken off within the last decade as institutional investors woke up to the steady revenue opportunities marinas presented. “You’re in very early innings on the consolidation, and it seems like it’s a right place for a lot of people to kind of put capital to work and consolidate and make improvements,” said Josh Dennerlein, a Bank of America analyst who follows the industry.
                            • Many marinas are still owned by families or other sole proprietors. Almost three in four marinas and boatyards that responded to Marina Dock Age’s 2021 industry survey were owned by families, condominiums, yacht clubs and similar entities. Many owners are reaching retirement age, said Adam Welch, who researched marinas for the Cornell Real Estate Review while earning a master’s degree in real estate. If they don’t have children who want to run the family business, they might be interested in selling.
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