Financial & Operational Benchmark Study for Marina Operation

1. Financial & Operational Benchmark Study for Marina Operation

2. Background • Construction and maintenance of marinas is very expensive with the consequence that they cannot be covered by the operation revenues. • For this reason marinas are often operated by municipalities or other public institutions • Many of these have little experience in an effective and profitable management of marinas (Marketing on one hand operation on the other) • It is not good enough to just manage the day-to-day operation, an understanding of the financial management side of the business is also needed • What is missing: Market information und comparable data for marina operation

3. Objectives • Improve the availability of market information (boat guest attendance, occupancy rate, origin of visitors) • comparison with similar marinas • SWOT Analysis • Improvement recommendation

4. Basic Principles • Confidence: Each marina will receive median data, impossible to draw conclusions to individual marinas. Data will be aggregated and anonymized • Data will be collected and maintained by a neutral institution (sail BALTIC)

5. Result • Each participating marina will receive a personalized company performance report which presents the appropriate marinas in comparison to the median of other harbours. • View to the TOP: Median is interesting, but the main goal is to become or be better than the average. For this reason each compared will be compared with the BEST (TOP 25%).

6. Approach: written questioning of Marinas, if applicable completed by personal interviews • Capacity, occupancy (by group of customer) • Structure of boats (size & type of boat) • Origin of guests, duration of stay • Service and amenities offered, fees • Initial investment, maintenance, expected improvement investments, market value • Staff- and business development • Use of technology in day to day business • Marketing activities and –budget • Cost Revenue Income Statement (if available, simplified if necessary)

7. Block 1: Capacity, Occupancy Questions • Wet Slips: permanent moorings, boat guests, clubs (current status, waiting lists, duration of stay by guest boats) • Dry Storage: uncovered, covered (heated) Conclusions: • Searching for reasons for a bad occupancy: Fees, Location, Service, Landside Availability

8. Block 2/3: Structure of boats, origin of guests Questions • Powerboats, Sailboats (by Size), commercial boats (Passenger Ships) • Origin of Guest (port of registry) and permanent moorings (residence) Conclusions: • Does the marina tap the full potential of its catchment area, does the marina choose the correct areas for marketing activities, are the fees in line with the current market?

9. Block 4: Service & Amenities, Fees Questions • Scale of fees (by time of season, by boat size) • Service provided with dockage • Amenities: Electricity, Fresh Water, Internet, Chandlery, Septic Dump,…etc. Conclusions: • Pricing (basic fee, extra fees) • Is the service offered in line with the costumers requirement

10. Block 5: Initial investment, maintenance, expected improvement investments, market value Questions • Investment (initial and expected for improvement) of piers and bulkheads, breakwater, dry storage, further technical infrastructure, office and further buildings, Land property, water surface, Marina Total • Depreciations (book accounting value) Conclusion • Basic Information for a marina, when searching for a new private operator and for the calculation of company operation

11. Block 6: Staff- and business development Questions: • Permanent / temporarily staff during high season • Business trends for the last 5 years (Revenues, Staff cost, Operating expenses, Profits) • Future Expectations Conclusions: • Employee Productivity: Revenues by employees, no of guest in relation to no of employees

12. Block 7: Use of technology in day to day business Questions: • Computerized booking system, marina management software, W-LAN, No of computers in use, Internet Access, Online Booking System for Moorings, Email System Conclusions: • Efficiency of organized company operation, Service in line with costumer requirement?

13. Block 8: Marketing Questions • Marketing Mediums in use: Printed advertisements, Internet, Fairs, Direct Mail, Sales Staff • Budget per year Conclusions: • Indicator: Marketing/Costumer, Marketing/Profit • Compare efficiency of different types of media

14. Block 9: Income Statement Questions • Revenues:Dockage Fee form Permanent Moorings (Clubs: Membership Fee), Dockage Fee from Guest Boats, Dry or Upland Storage, Fuel Dock, Boat Crane, Haul Out, Boat Cleaning, Disposal (Sewage, Waste, Excrements…), Repair Service, Chandlery, Boat Supply, Parking Fees, All other Revenues (excl. Restaurant/Kiosk and Accommodation) • Operating Expenses: Labor Expenses for Marina Operating Staff, Rent and Lease Expenses (excl. car and equipment), Repairs- and Maintenance (incl. cleaning) , Office Supplies and Phone, Internet, Subscriptions, Dues …), Consumables Costs (Water, Electricity, Heating, Sewage, Waste,..), Costs for Marketing and Promotion, Travel & Entertainment, Accommodation, Insurances, Professional Services (Consulting, Planning,…), Equipment and Car Rental, etc. , Cost of Goods Sold (Fuel, Chandlery,…), Depreciation, Interest Expenses, All other expenses (excl. Restaurant/Kiosk and Accommodation) Conclusion • Result

15. Request for Partner Contribution Partners are requested to: • Translate the questionnaire to the respective mother tongue, • Identify potential participating marinas or contact persons in their country, • If necessary, organize meetings with relevant harbours - in cooperation with PLANCO

16. Schedule