Our market studies uncover the level and type of demand and outline what you may need to do to attract a new market, or to compete in an existing one. We will also reference case studies for marinas that have been particularly successful, or not, and identify the reasons for success or failure. We then use these to evidence how a new market could develop in the right environment.
For a new or extended development, you’ll need to understand its market potential. Using our marina operating experience, our own market data and industry statistics, we will give you an informed view of the potential for a marina, boatyard or any other waterfront development project.
For both an existing marina and a new project, our studies look at the size of the market and a typical customer profile so we can give you the best advice on the demand for the marina or related products and services.
We then use the market study results to guide the design of a new project so that it matches the profile of the market. Every study will consider the current position and how the market is likely to develop in the future, allowing us to future-proof the design. As an example, a key consideration is the split of berth sizes both for now and in the future so that the marina can maintain high occupancy while using the water area in the most efficient way.
If you’re building a marina that’s already in a developed market, you’ll need to compete with other marinas in the area. With our detailed market study, we’ll help you understand how competitors are performing, who they are attracting, and what they are offering. With you, we can then plan the services and features your marina will need to provide if it’s to compete. Our competitor analysis will also guide you on the likely pricing range for your marina.
As well as studying developed markets, we carry out market studies for marinas in areas where the marine leisure market is in its infancy, and where there are few or no competitors. For these projects we start by looking for the indicators that show that boating could develop in the future. These will include demographics, tourism statistics and developments in the tourism industry local to the project, as well as any maritime heritage and pre-existing support facilities for boating. We will also consider any constraints or barriers to the development of that market.