Hey guys -
I was kicking around the idea yesterday of how cool it would be to have a small (very small) marina on a city run lake in my area. There actually used to be one on this lake some 15 years ago. According to the city they received a lot of complaints from citizens about how the business was run and the proprietor was always late paying his rent, so they told him to beat it.

I called and half heartedly pitched the idea of a small canoe/kayak/paddleboat rental operation to the head of the city office that manages the lake. I was mostly curious about what would be required to do business with the city at this location.

He said that would be an awesome idea, and that they (the city) were considering doing it themselves but are unable due to the tight city budget.

I was told rent would be minimal because they would just like to have that type of business there in operation as a service to the people who fish and use the lake for recreation.

I would be required by the city to have $2,000,000 in liability coverage. I am not sure where to get this or who to talk to about this type of insurance.

In addition to the boat rentals - I would be able to sell concessions, bait, etc. This lake is in the center of my city, but I would be the only business operating "on" the lake. The lake is also home to a couple softball diamonds. It is also a popular weekend picnic destination. My marina would be located walking distance to all of that.

The city recently spent several million dollars renovating the area and making it more accessible for recreation. The area immediately surrounding the lake is residential/commercial.

My "marina" would need to be in a non permanent structure such as a trailer, or building which could be moved, because the area may be subject to flooding. I am thinking concession trailer maybe? The area is nice and I wouldn't want to stink up the place with a crappy trailer. I was told I may be able to store my trailer and boats on the secured maintenance lot adjacent to the lake.

Anyway, because of the ability to sell concessions, I think I have stumbled onto something good here. I am not sure what my next step needs to be.

This has happened very fast - inside I am freaking out. I have SOME business experience with importing and selling crap from home. Nothing as serious as this. I am looking for some guidance.