Planning for the long-term growth and financial success of your marina means predicting the future. This includes anticipating and budgeting for future investments in your marina’s infrastructure.
A capital replacement fund is part of a long-term financial plan that strengthens the fiscal health of a marina’s business.
Have you given much thought about what it will cost to replace the docks in your marina 20 years from now? Although the idea may be mind-numbing, it’s important information to know.
Knowing this will not only better prepare you for the inevitable future but will give you a clear picture of the value of your current docks.
Owners and operators pour an amazing amount of blood, sweat and tears into building their marina businesses. However, too often planning for the marina’s future doesn’t occur until it’s too late to do it effectively.