Open Marinas?

BroadHopper · 12-15-2009, 11:48 AM

Anywhere in the US. When you see a marina go belly up, the condo developers are at their doorsteps with an offer for the real estate. There aren't many marinas left on the waterfront. Dock space are being rented or sold at a premium.

Latest venture are boat condos. Where you can buy a dry slip and pay an annual fee for valet.

http://www.verticalyachtclub.com/

colt17 · 12-15-2009, 12:33 PM

I was talking to my sales guy about a month ago and he told me there are a number of marinas around the lake that are on the verge of going out of business. And if he did not have a good base salary he would have been gone months ago. Most of his sales this summer were bank repos.

BroadHopper · 12-15-2009, 02:20 PM

Quote:

Originally Posted by colt17

I was talking to my sales guy about a month ago and he told me there are a number of marinas around the lake that are on the verge of going out of business. And if he did not have a good base salary he would have been gone months ago. Most of his sales this summer were bank repos.

Obviously the current state legislature is treating boat owners like 'trailer trash'. With the double increase in boat registration, and pending boating bills it also effect the marinas. Soon there will be fewer marinas on the lake.

There was a study in NHBusiness magazine not too long ago by UNH. There is a huge drain of mfg and high tech jobs from NH. Students from the colleges are leaving for jobs in the Sun belt. NH legislature has a failing grade as far as containing jobs within her borders. It won't be long until the job base is gone and the property owners bear the cost of running the state. Then everyone will leave and NH will become a ghost state.

Lakewinn1 · 12-15-2009, 04:37 PM

Quote:

Originally Posted by colt17

I was talking to my sales guy about a month ago and he told me there are a number of marinas around the lake that are on the verge of going out of business. And if he did not have a good base salary he would have been gone months ago. Most of his sales this summer were bank repos.

Did they mention any spefic marinas?

colt17 · 12-17-2009, 12:11 PM

He did mention specific marinas I would feel uncomfortable putting it out here incase it was not true.

BroadHopper · 12-17-2009, 12:27 PM

With the new 5% LLC tax on NH businesses, along with the NH business profit tax and the NH Business inventory tax. It won't be long that all businesses will either leave, or charge their customers. Sounds like a broad based tax to me!!!!!

Seaplane Pilot · 12-17-2009, 01:01 PM

Quote:

Originally Posted by BroadHopper

With the new 5% LLC tax on NH businesses, along with the NH business profit tax and the NH Business inventory tax. It won't be long that all businesses will either leave, or charge their customers. Sounds like a broad based tax to me!!!!!

Don't forget the Business Enterprise Tax.

FLL, you must be happy now that NH has finally come thru with an income tax!

fatlazyless · 12-17-2009, 01:24 PM

In addition to all the business taxes a marina probably pays a very big local property tax, too. Marinas tend to have a lot of property right on the waterfront.

Maybe I'm wrong on this but It seems to me as a casual observer that the winter storage-shrinkwrap-winterization of boats is a Winnipesaukee marina's biggest profit earner. Bigger than boat sales, bigger than repair work, bigger than retail sales of boat sundries, oil, & gasoine: Winter storage seems like it is the #1 profit maker. I dunno.....maybe as much as 50% of overall operations.....now that sales and repairs have slowed down so much? Winter starts every year on December 21 and every boat has to be stored somewhere out of the water.

...comments?

LIforrelaxin · 12-17-2009, 02:13 PM

Quote:

Originally Posted by fatlazyless

Maybe I'm wrong on this but It seems to me as a casual observer that the winter storage-shrinkwrap-winterization of boats is a Winnipesaukee marina's biggest profit earner. Bigger than boat sales, bigger than repair work, bigger than retail sales of boat sundries, oil, & gasoine: Winter storage seems like it is the #1 profit maker. I dunno.....maybe as much as 50% of overall operations.....now that sales and repairs have slowed down so much? Winter starts every year on December 21 and every boat has to be stored somewhere out of the water.

...comments?

FLL you raise a good point, that winter boat storage creates a lot of revenue for the marinas. However I don't think it is the cash cow that one might think it would be. Certainly at the outside it all looks well and good, Once the boat it winterized and put into a storage location the is nothing more for the Marina to do. However the marina, has insurance costs, the cost of maintaining the storage space (a year around cost), and of course maintaining the personal to unwinterize all those stored boats in the spring....

BroadHopper · 12-17-2009, 01:49 PM

Quote:

Originally Posted by Seaplane Pilot

Don't forget the Business Enterprise Tax.

FLL, you must be happy now that NH has finally come thru with an income tax!

The way I see it, if the NH govt. replace all taxes with a 'value added tax'. Taxation will be a lot simpler and easier to apply. Right now, if you think about it all the frigging taxes the govt. currently have are nothing more than a complex and complicated series of the value added tax. Some European nations are quite happy with this type of tax.

The economics teachers in the NH university system been preaching this for years. I'm surprise it has not been up in front of the legislature.

12-15-2009, 12:33 PM	#2
colt17 Senior Member Join Date: Jan 2005 Location: Hollis NH/Laconia Posts: 132 Thanks: 62 Thanked 17 Times in 12 Posts	Not good for marinas I was talking to my sales guy about a month ago and he told me there are a number of marinas around the lake that are on the verge of going out of business. And if he did not have a good base salary he would have been gone months ago. Most of his sales this summer were bank repos.

12-17-2009, 12:27 PM	#6
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,669 Thanks: 3,282 Thanked 1,132 Times in 814 Posts	Frosting on the cake? With the new 5% LLC tax on NH businesses, along with the NH business profit tax and the NH Business inventory tax. It won't be long that all businesses will either leave, or charge their customers. Sounds like a broad based tax to me!!!!! __________________ Someday may never be an actual day.

12-17-2009, 01:24 PM	#8
fatlazyless Senior Member Join Date: Apr 2004 Posts: 9,174 Blog Entries: 1 Thanks: 310 Thanked 1,103 Times in 812 Posts	In addition to all the business taxes a marina probably pays a very big local property tax, too. Marinas tend to have a lot of property right on the waterfront. Maybe I'm wrong on this but It seems to me as a casual observer that the winter storage-shrinkwrap-winterization of boats is a Winnipesaukee marina's biggest profit earner. Bigger than boat sales, bigger than repair work, bigger than retail sales of boat sundries, oil, & gasoine: Winter storage seems like it is the #1 profit maker. I dunno.....maybe as much as 50% of overall operations.....now that sales and repairs have slowed down so much? Winter starts every year on December 21 and every boat has to be stored somewhere out of the water. ...comments? __________________ .... Banned for life from local thrift store!

Thread Tools
Show Printable Version Email this Page
Display Modes
Switch to Linear Mode Hybrid Mode Switch to Threaded Mode

12-15-2009, 11:48 AM	#1
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,669 Thanks: 3,282 Thanked 1,132 Times in 814 Posts	The problem Anywhere in the US. When you see a marina go belly up, the condo developers are at their doorsteps with an offer for the real estate. There aren't many marinas left on the waterfront. Dock space are being rented or sold at a premium. Latest venture are boat condos. Where you can buy a dry slip and pay an annual fee for valet. http://www.verticalyachtclub.com/ __________________ Someday may never be an actual day.

The Following 3 Users Say Thank You to BroadHopper For This Useful Post:
LIforrelaxin (12-17-2009), OCDACTIVE (12-15-2009), robmac (12-15-2009)

12-17-2009, 12:11 PM	#5
colt17 Senior Member Join Date: Jan 2005 Location: Hollis NH/Laconia Posts: 132 Thanks: 62 Thanked 17 Times in 12 Posts	He did mention specific marinas I would feel uncomfortable putting it out here incase it was not true.