What are the Opening Costs Involved in a Marina?
Few things are as important to those who live near the water as a perfect place to keep their boat, both during the season and after it’s over.
While some choose to keep it on a trailer and store it, some vessels are simply too large for that and some boaters just don’t have the room to store their boats.
A marina, then, becomes the ideal space and creating a marina near the water to help boaters dock, moor, and store is the perfect business plan.
As with all businesses, though, building a marina, though, means some heavy start-up costs and some other opening fees as well.
What marina costs should you know about before you launch your business? This quick guide can help.
It Begins with the Right Space
Maybe the biggest cost in this business is finding the right space. Whether you’re going to start from scratch or buy an existing marina location, you’ll need waterfront property, and that could cost you quite a bit.
Marina prices range up into the millions, but you want a property that is ideal for storing boats (dry slips), launching them as the season begins, and docking them as the season continues (wet slips).
Choose a property that offers you plenty of space for all of those activities and any other amenities you want to include, such as a waterfront restaurant or extra parking, laundry services, and even shower spaces.
The biggest expense you’ll encounter as you get ready to launch your dream business is installing enough wet slips for your customers.
These typically cost around $60,000 per slip, but much of that depends on the docking material you choose to use. Floating docks are typically considered the best option for marinas.
They can be made with PVC decking, an excellent, safe surface material that offers better stability and load capacity, and often, they’re the way to go if you want a custom shape and size.
Other opening costs include the amenities you want to offer guests. For example, if you’d like individual kayak docks, extensive lighting, or equipment like a boat winch, you’ll certainly want to factor that into the cost as well.
Building a marina can be a great business plan if you live near the water but make certain that you factor in all of the costs before you get started.