So let’s imagine that you believe in preserving the environment, and you love animals and the sea. You want to do something with your life and money. What better could you do than inspiring the human spirit of your community through leadership? And, what better leadership could you give than getting involved in the rescue, and release of marine life, by buying a marine aquarium attraction, complete with mammalian livestock?
The possibilities are boundless, and also provide possibilities for you to provide environmental education, research and conservation.
You would not be the first to think this, and you would be following the same path as a number of see mammalian experts before you. An early retirement, with the opportunity to start a family business around dolphins and a marine aquarium attraction, often located in a beautiful setting can appear to be a utopian life.
While some people have no doubt succeeded in buying and operating these types of marine aquarium attractions, they are a very risky buy. In the rest of this article we explain why, and provide the main problem areas in such a venture, from the point of view of the real-estate risk for such ventures.
We are sure that almost all marine aquarium owners provide the highest standards of healthcare and rehabilitation for their inmates, mammalian, and fish, invertebrates, etc, with the ultimate objective of release. That is exactly what they tend to concentrate all their energies on. The infrastructure of the aquarium facility is often very much neglected.
The Risks of Buying a Marine Aquarium Attraction
Any marine aquarium attraction which is designed to provide healthy living for such large and active creatures as dolphins and whales, will have numerous deep and shallow pools, spectator seating, exhibition areas, display and multi-media presentation areas, labs, meeting rooms, lecture theatres etc. Species like sea sharks, dolphins, whales, and octopi, all require high quality oxygen rich sea water. So, the hidden mechanical and electrical plant and usual labyrinths of pipes and cables to service thee facilities is immense and complex and needs constant maintenance.
The purchasers buying a marine aquarium attraction, will naturally, when looking at buying a marine aquarium attraction, concentrate on the living assets of the existing aquarium attraction as a business. They will spend many hours on considering their ability to develop the business, both to raise money through tourism and student training income, and to provide a focus for marine conservation.
But, the most important factor will be that even the very best management of the living assets of such a business, may not be able to cope with taking on a marine facility with a failing infrastructure which is no longer barely capable of sustaining its existing marine inhabitants.
Mechanical and Electrical Equipment Failures
Mechanical equipment breakdowns of pumps, aeration and filtration equipment, can within hours put aquarium tanks at risk of losing their precious stock of wildlife. For anyone buying a marine aquarium attraction, should that happen, the resulting deaths can have a devastating effect on the good name of the establishment. Not only that, such an event, or events destroys the whole reason for the existence of such marine aquaria.
In the longer term, the many tanks, all containing sea water which is highly corrosive, may have very finite lives. It is seldom that such tanks will remain in good condition, with substantial maintenance work, for more than 20 years. The same is usually true for the pumps and pipework which supply each tank.
Marine aquarium attractions also tend to have tanks which are constructed in specially curved shapes to emulate the natural surroundings of the species which they house. These structures, which are built to restricted budgets, are then usually also buried.
The result for anyone buying a marine aquarium attractionis that deterioration in the concrete, steel, and plastics from which they are built can easily remain unseen until they fail, by leaking or else a variety of collapse scenarios can occur.
Recommendations to Potential Buyers of Marine Aquarium Attractions
While obviously it will be essential to consider the many management challenges, and business revenue, income essentials to buying and running a marine aquarium attraction, never neglect the engineering which supports such businesses.
Always, engage an expert to inspect the premises, before concluding a deal on the property. For a complex facility such as a marine aquatic establishment we suggest that the buyers should appoint an independent home or property inspector to make an initial scoping inspection of the aquarium tourist attraction. The resulting property condition survey report, should then define the scope of additional experts such as civil, structural and mechanical and electrical engineers, which will be needed to be called in to do a full due diligence survey of the aquarium.
For this work, we suggest choosing an expert home inspection service like http://4WallsCheckers. com, based in Denver, Colorado*.
However, at the stage of the scoping report, some owners will either refuse access, or simply offer a reduced price suggesting that the lower price is simply to enable a quick sale. Be suspicious If such an offer is made. If an owner will not allow access to the property inspection team, we would always advise that the buyer withdraws the offer, and moves on to look at other marine attractions for sale.
Note: *“4wallscheckers” Home Inspection Services is our sponsor for this website.