April 22, 2002

New Survey Peeks Into the Minds of Marina Owners and operators

Mt. Pleasant, South Carolina— Nearly two-thirds (65%) of marina owners, operators, and developers say a love of boats and water prompted their decision to get involved in the business. That's just one of the findings from a recent survey conducted by Applied Technology & Management, Inc., a leading environmental, coastal, and water resources engineering firm. The survey takes a look at what makes marina owners and operators tick- it explores such issues as what they like best and least about working in the industry, their toughest challenges, their future plans, and interests they have outside of marinas and boating.

Additional findings include:

Expansion is part of the gameplan— More than a third (37%) of survey participants say their plans include acquiring more marinas or expanding their existing facilities. Just 12% say they're looking to sell.

Recreational atmosphere is what owners and operators like best— A majority (73%) of respondents say the recreational atmosphere is the best thing about working in the marina/waterfront business. More than a third (40%) say the clientele is what they like best.

Owners and operators are multi-faceted— More than a third (40%) say they're interested in other business ventures. Nearly a third (31%) cite an interest in not-for-profit endeavors, and more than a quarter (29%) say they're interested in other activities, including maritime museums, golf, cooking, and even stamp collecting.

Respondents struggle with compliance issues— More than half (58%) say their biggest challenge is regulatory compliance, and 75% say dealing with regulations is what they like least about working in the industry.

"A majority of owners and operators are really satisfied with being involved in the industry," says Sam Phlegar, vice president with Applied Technology & Management. "These statistics say a lot about the industry's potential for success. There are a lot of motivated individuals out there, and regardless of the challenges they're facing, marina owners and operators are still looking to expand."