Wish it was me. I would love to own a marina, or even a bait shop on a lake somewhere.
I think it would be a blast.
I keep reading marinas can't make any money now, which doesn't make sense to me. Joe Pool Marina charges from $206 to $500 per month for boat slips.
I don't see why you can't make money with those type of fees, since it only takes one man to maintain them. It does cost an electrical bill but that is about it for the slips. The store should pay for itself in just minnow sales if you keep a current minnow supply.
The thing about Marina's is they have to build up business seasonally over many years by having dependable personnel with good customer service over many years. Basically, once folks understand they can ALWAYS go to the marina and fill their needs, then over several years, the business will build up to the point where they become profitable and hopefully successful. Weather and water levels will inhibit even the best management. The seasonality issue is a big hurdle to overcome. Further, if the business revenue has declined; which can be due to many factors (especially weak management/personnel.) Having to pay too much for such a business is a sure fire way to to go broke before the business can be returned to profitability. In addition, many marina's assets are leased from the presiding water authorities and the contracts that have to be negotiated can be overly burdensome, so that even the most astute business person can not make a profit. Obviously, these are only part of the issues involved in operating a marina, but good management and customer loyalty are two absolutes for operating a successful Marina.
One of the better marina manager's I have seen in the last several years is Elmo over at Navarro Mills...One twirl around that place and you can tell it is a one stop shop, (hey, you can even get Crazy Angler stuff over there) plus he is courteous, quick to get you checked out, and will provide pertinent (accurate, reliable, timely) information when you ask. Also, he has a good system established to ensure an enjoyable time fishing on his docks, regardless of whether he is open or not. Overall, there is an art to building a successful marina business and he has done so over a period of seven or eight years.
hope this information helps anyone concerned to understand a few of the issues relating to marina operations. It is a business that is not for the faint of heart.