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March 7, 2023
How to Save Money at Your Marina – Even in a Down Economy
Written by: Sam Steele
Some people say we’re in a recession, others say we’re not in one quite yet but it’s coming, and others still insist a full-blown recession has been narrowly avoided. Yet, you’d be hard-pressed to find anyone who thinks the economy is doing great right now; nearly everyone agrees it’s down.
Business owners and managers across the country are staying up to date on economic news and watching for key indicators to have a better understanding of the current state of the economy and what their next move should be. While how the economy feels can vary depending on various factors such as location and industry, very few businesses are not looking at ways to tighten their belts right now. The U.S. fishing and seafood sector is certainly included in this. While it generates more than $200 billion in annual sales and supported 1.7 million jobs in recent years, it has experienced broad declines in 2020 as a result of the COVID-19 public health crisis. This is according to a new NOAA Fisheries analysis that also states seafood restaurants and other marine-related or water-adjacent industries are struggling as well.
If you’re a part of the marine industry, you probably know this all too well. The question is – what can you do to mitigate the damage done during lean times? When money is tight, it is tempting to cut back on expenses, including regular maintenance for your assets. It is important you understand, however, that regular maintenance is still important. In some cases, this is true especially when money is tight. That is because it will end up saving you money rather than cost extra. Paying for marine maintenance now, like making an effort to prevent rust on metal, can save you money in the long run for several reasons:
Preventing Larger Issues
Metal structures, like fences and gate posts, located near the ocean are particularly susceptible to rust because of the high levels of salt in the air. Science tells us that the salt in the air can create a corrosive environment that can accelerate the rusting process. By regularly maintaining your assets, you are able to both identify and fix small issues before they turn into bigger, more expensive crises. For example, a small amount of rust can be knocked off and painted over rather inexpensively. We recommend you take a wire brush and give it a solvent wipe to clean it. You want to get as much of the rust off that you can. Try to get to it before it reaches a “point of no return.” If left unaddressed, it will grow and require a full replacement which costs significantly more. This brings us to our next point…
Extending the Lifespan of Your Assets
Making an effort to prevent rust on metal, such as your metal fences or boat propellers, doesn’t just make your marine-based business look nicer, it saves you money for years to come. This is because regular maintenance will help to extend the lifespan of these assets. The average cost to purchase a commercial fishing boat ranges from $200,000 to $450,000, but the price can be even higher for new vessels that are custom-made or have extra features. This certainly isn’t an expense you want to make before you have to!
You wouldn’t dream of driving your car for years without getting an oil change, because you know that changing the oil in your car on a regular basis is essential to keeping the engine running smoothly, meaning you avoid costly engine repairs or replacements. Painting your metal marine structures with a compound to combat rust achieves the same goal!
Preserving Resale Value
Perhaps in your area or industry, the economy is really down or you don’t feel you have the financial reserves to keep going. People may choose to sell commercial real estate when the economy is sluggish, thinking the market will not improve enough in the near future. If you plan to sell your marine industry business soon, regular maintenance of your physical assets is important for preserving its resale value. Potential buyers are more likely to pay top dollar for an asset, meaning boats, fences, gates, poles, and the entire marina, that has been well-maintained and is in top condition.
As you can see, regular maintenance on your metal marine structures is still important when money is tight. While it may seem like an unnecessary expense in the short term, investing in preventing steel from rusting will allow you to avoid bigger, costlier expenses down the road, plus preserve the value of your property and assets. Extending the lifespan of your assets is always good for business!
Look to ZRC to Regularly Maintain Your Marine Structure and Prevent Steel From Rusting
ZRC offers proven protection equivalent to hot-dip galvanizing. In our products, zinc dust is used to provide corrosion protection. This zinc is what makes the paint electrically conductive. It is the crucial ingredient for the product you turn to for galvanizing steel. This is because the zinc sacrificially corrodes instead of the steel, thereby protecting the substrate. This is what is needed to keep your marine structures looking good and functioning well for many years to come. It meets VOC standards in all fifty states, passes ten-year subtropical exposure testing, and exceeds ASTM A780 standards for hot-dip galvanic repair. With two available application formats, our product is the industry standard in combating corrosion, for true galvanic protection.
You won't need to replace your metal products if you keep up with repairs, so spending a little now saves a lot in the long run. You can learn more about the galvanic protection ZRC cold galvanizing compound delivers by clicking the button below.