imbc 2012 changing trends
DESCRIPTION
TRANSCRIPT
Changing to Compete in Today’s Market
201
2
Changing to Compete in Today’s Market
Bruce Lunde Dan Williams Lunde Williams
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
How the Industry is Adapting to Changing Realities
• Site Integration
• Design Theory and Regulatory Requirements
• New Approaches
• New Materials
Today’s Discussion
Changing to Compete in Today’s Market
201
2
• Pre-Modern Marina (Pre–1970)
• Modern Marinas (1971-1989)
• Raising the Bar (1990-2009)
• Current Marina Profiles
• What Comes Next?
1970 – 1989: First Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
Changing to Compete in Today’s Market
201
2
Changing to Compete in Today’s Market
201
2
• Fiberglass Boats
• Greater Middle Class Disposable Income
• Cultural Transformation
1970 – 1989: First Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1970 – 1989: First Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
Diversity: Sailboats, Fishing Boats,
Houseboats, and Cruisers
Significantly Expanded the
Demand for Convenient
Docking Facilities
1970 – 1989: First Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1970 – 1989: First Generation Modern Marinas
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
1970 – 1989: First Generation Modern Marinas
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
1970 – 1989: First Generation Modern Marinas
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
1970 – 1989: First Generation Modern Marinas
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
• Condition and Age • Fit for Modern Boat Demographics • Materials and Accessibility
1970 – 1989: First Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1970 – 1989: First Generation Modern Marinas
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Raising the Bar 1990-2009
• Marinas Becoming Hospitality Venues
• Cleaner Facilities, Uniformed and Trained Staff
• The Rise of Floating Docks
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
• Adjusting for Changing Boat Demographics
• Replacing Outdated Facilities
• Development and management of multiple revenue streams
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
• First Generation Docks Aged, Wore Out and No Longer Fit the Needs of the Modern Boating Demographic
• The Rise of the Professionalization of the Marina Industry
• The Second Generation of Marinas are Larger, Luxurious, and Profitable
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
Not all Marinas have been Improved • We see a definite stratifying of the marinas in the US.
Those that could afford it moved forward, modernizing their facilities and becoming more competitive. Some of the older and less competitive ones fell further behind and do not have much hope.
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
Tight budgets limit current capital investments
• Financing still a major issue
• Fear of uncertain return on investment continues
• Maintenance and upgrades are currently being delayed
1990 - 2009: Second Generation Modern Marinas
Changing to Compete in Today’s Market
201
2
• Marina Consolidation Mean Unequal Opportunities
• Selling Value and Selling Sizzle
• Client Expectations Have Never Been Higher, no Excuses for Mediocrity
Current Marina Profiles
Changing to Compete in Today’s Market
201
2
Current Marina Profiles
Changing to Compete in Today’s Market
201
2
Current Marina Profiles
Changing to Compete in Today’s Market
201
2
Current Marina Profiles
Changing to Compete in Today’s Market
201
2
Current Marina Profiles
Changing to Compete in Today’s Market
201
2
Current Marina Profiles
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
What Comes Next?
Changing to Compete in Today’s Market
201
2
What Comes Next?
Changing to Compete in Today’s Market
201
2
What Comes Next?
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
What Comes Next?
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Upgrading Facilities
Dillon 1972
Changing to Compete in Today’s Market
201
2
Dillon 2010
Upgrading Facilities
Changing to Compete in Today’s Market
201
2
Dillon 2011
Upgrading Facilities
Changing to Compete in Today’s Market
201
2
Owner/ Developer
• Maximizing Possible Revenue Streams
• Increased Catering to Customers
• Green Building and Sustainable Image
Perception of Trends
Changing to Compete in Today’s Market
201
2
Manufacturer
• More Sophisticated Clients/ Higher Expectations
• Good Engineering and More Accountability
• Green Design
Perception of Trends
Changing to Compete in Today’s Market
201
2
When is it time to update?
• Significant Structural Failures
• Shrinking Client Base
• Aging Equipment and Docks
• Misfit on Slip Sizes
Renewal, Renovation or Replacement
Changing to Compete in Today’s Market
201
2
Breakwater Issues
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
• Prioritize Goals and Assessing the Market
• Determine Slip Mix
• Develop Budget/ Phasing Strategies
• Confront Accessibility Issues
• Permits
Renovation Approach
Changing to Compete in Today’s Market
201
2
• Meeting the Current Client Demographics
• Efficient Space Utilization
• Power and Water to Meet Boat Requirements
Slip Mix
Changing to Compete in Today’s Market
201
2
• Understanding Limits of Available Financing Key in Planning Process
• Budgets can Limit Options
• Develop Understanding of ROI
• Look at Alternative Finance Methods
Budget and Financing
Changing to Compete in Today’s Market
201
2
• Many Operators Fear Regulation Unnecessarily
• Integrated into the Design; Costs can be Negligible
• Include Advocacy Groups when Needed
Accessibility
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Utilities
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Security
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Fuel and Services
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Today’s Marina
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Integrated Stormwater Management
Changing to Compete in Today’s Market
201
2
Basin Protection
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Opportunities
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Opportunities
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Today’s Marina
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Today’s Marina
Image Property of SmithGroup JJR, LLC
Changing to Compete in Today’s Market
201
2
Today’s Marina
Changing to Compete in Today’s Market
201
2
Today’s Marina
Changing to Compete in Today’s Market
201
2
Today’s Marina…We’ve Come Along Way
Changing to Compete in Today’s Market
201
2
• Continued Quest for Value in Construction • Right Sizing of Slips to Boater Demographics • Funding Challenges Remain; Successful
Improvements Require Successful Financial Planning
• Owner Managed Incremental Improvements Provide Short-Term Solutions
• Planning Ongoing, Construction Slow
Summary
Changing to Compete in Today’s Market
201
2
Questions?
Thank You!
Bruce Lunde [email protected] 414.704.0344
Dan Williams [email protected] 608.335.4110
Lunde Williams
Image Property of SmithGroup JJR, LLC