Marinas | Buying and Selling

Your First 10 Steps in Buying a Marina

Marina at Nigt
  1. Find an experienced marina broker to discuss your needs and wants of a marina acquisition.
  2. The costs to purchase a marina: have a set goal of what you do not want to exceed, with the criteria you are looking for in a marina acquisition.
  3. Obtain a preliminary pre-approval letter from your lending source.
  4. Decide a location / market for your purchase / do you want a freshwater or saltwater marina? (At this time the broker will start putting marinas in front of you.)
  5. Know the market of where you are buying / look at the existing clientele of your possible marina purchase.
  6. Examine all infrastructure & look at all deferred maintenance / equipment.  (See what kind of costs one would incur.)
  7. Have broker obtain 3-4 years of financials & (SDE) Sellers Discretionary Earnings ( At NG&M Properties we have all marinas underwritten for our buyers.)
  8. Look for upsides to grow business, short term & long term.
  9. Does the business have staff in place & does the business have management software? (if so, is it current / up to date or is it obsolete?) Does the property have good internet?
  10. Do a complete (DD) Due Diligence period with your broker.  Trust your broker let them negotiate the best deal for you.

Your First 10 Steps in Selling a Marina

Marina for Sale
  1. Have an exit strategy.
  2. Consult with financial advisor on possible proceeds of sale.
  3. Consult / interview with an experienced marina broker.  Have broker supply you with references, sign a confidentiality agreement with the broker.
  4. Know why you are selling / share with the broker reasons why good & bad.
  5. Do a walk through of property and business, share all with broker.  Leases / equipment lists / financials / employee list / POS systems / deferred maintenance / insurance / claims / lawsuits etc.  
  6. Get broker’s opinion of value.
  7. Decide if this is a confidential listing or not.
  8. Decide if you are letting employees / clients & vendors know of the sale?
  9. Decide how you are going to assist in the acquisition to ensure support for new ownership.
  10. Let broker do their job, work with broker during the entire acquisition.

Nobody knows the property & business better than the sellers.

Still have questions?
Contact us! We're always happy to help.