Floating Platform Creates New Revenue Stream
One of the business strategies of a successful marina operator is that they look for and find opportunities where others see nothing. By approaching the design and operation of their facility with an eye for solutions that capitalize on site-specific features and have long term financial viability they are able to identify opportunities that generate financial profit and wealth.
As many marinas would attest, fees from slip rentals alone are rarely enough to keep a marina afloat (no pun intended). The business typically needs an additional source(s) of revenue. The challenge for the owner or operator is to identify what those sources are.
In an effort to survive a tough economy and build a financially sustainable business marinas are getting creative. A marina in Washington State provides us with a good example of what one marina has done to help build their profitability.
Interested in creating a revenue producing amenity that would appeal to their tenants and potential visiting boaters with the added hope of creating something that would draw interest from the greater public, Cap Sante Boat Haven in Anacortes recently identified a new source of revenue for their facility.
Their vision was to create several covered floating platforms that could be rented out by guests during regattas and marketed to the general public as event space. They wanted the platforms to be moveable, to provide flexibility in how they were used and provide greater user convenience.
The marina hired Bellingham Marine, world renowned floating dock expert, to design the platforms. Bellingham’s final design was a concrete floating platform complete with railings, lighting, electrical outlets, BBQ and an event tent. Overhead florescent lights were installed to enable the marina to rent the space out for evening events and outlets were placed on the vertical poles to provide users with direct access to power.
The 1,000 square foot platforms were designed to be towed by work skiff and placed in an open slip or along a side-tie. The units are secured in place by tying up to cleats and power is supplied from a nearby power pedestal. The operation works just like mooring a vessel and hooking it up to power.
Although, this is the marina’s first year offering the floating event space they are already seeing a lot of interest from a range of boating groups. The marina rents the platforms for a flat fee for the day and the group is able use the space to host any range of events from meet and greets to catered dinners. According to the marina operator, priority is given to rendezvous and private parties hosted by visiting boaters or tenants but the space is also available for rent by the public for birthday parties, receptions, weddings, etc…
While the marina’s floating platforms have added an additional revenue stream to their business, they are an amenity that is appreciated by the marina’s users and will be become a marketable feature and a source of added value.