Have you been considering making a break into the tourism industry by way of purchasing an RV park or campground? If so, you’re probably wondering how, exactly, it’s done.
Here are a few simple steps that make such a large, important purchase a breeze.
1. Conduct research
When purchasing any kind of business, it’s critical to have a passion for the industry. In addition, those who have experience in the industry tend to do better than those who haven’t had much experience.
However, this is particularly true when it comes to buying a campground.
Before buying a campground -regardless of experience- be sure to read up on the facts. Study the fine print, take notes, and start your process with a high level of preparedness.
You need a good amount of knowledge on the industry before you can truly understand what you’re getting into.
2. Keep location in mind.
When cruising the internet for a campground to buy, take advantage of all of the options that the world wide Web has to offer.
Specifically, search for sites that feature high visual appeal and contain landmarks such as lakes, rivers, national forests or parks, mountains, and/or that are close to popular tourist destinations.
Essentially, you’ll want a site that appeals to nature lovers. After all, what nature lover wants to pitch a tent in a campsite with no trees?
3. Find out why the site is being sold
The first question you want to ask is something along the lines of “why are you selling the campsite?”.
Generally, you’ll get reasonable answers such as retirement, sickness, new business ventures, and general management burnout. These answers are acceptable.
If the seller hints towards performance issues, however, it may be worth it to look into the problem before buying. Of course, low business can be remedied by different management and whatnot, but these kind of answers should always be a red flag.
4. Find a reasonable asking price.
Next, you should inquire about the owner’s asking price. How did they reach that decision? Was there asking price recommended by a professional or have they simply gone with a broker’s opinion of value?
If the owner has not received a professional opinion for price, you may be able to negotiate the price. When negotiating, be sure not to offer prices that are too unreasonable.
5. Hire a professional
Sometimes, even after hours of research and with tons of valuable knowledge, the best way to purchase a campground is by hiring a professional to help you sort out the details.
A certified broken will help you through each critical step in the buying process, including identifying the most valuable site and closing the deal.
This ensures that there are no problems and that the entire process goes smoothly and quickly so that you can start utilizing your new campsite in a timely manner.