Having a campground could be a profitable and fulfilling venture. It is estimated that 25% of RV parks and campgrounds will change ownership in the next five years. If you plan to sell, here are things you could do to increase your returns and boost your park’s worth when an investor is interested in buying a campground.
If you do not have a campground but are looking for credible real estate opportunities, you should consider buying one. Almost 60% of American households have reported that at least one of their residents has gone camping at some point in their lives.
1. Tailor Your Campground Business to Suit Millennials
Studies have shown that at least one million households in North America started camping last year, and 44% of these were millennials. Most campgrounds and RV parks are filled with the next generation of travelers; millennials. Because of this, you must integrate technology into how you run your business.
For example, ensure campers can make online reservations.
2. Increase Your Reservations
Giving website visitors the option to make reservations online 24 hours a day will make you pick more guests. Put up an at-a-glance calendaring option on your website. Having more reservations will increase your returns and also increase the value of your campground when an investor plans on buying a campground.
Offer hands-on management by making sure all your tenants are comfortable. Make sure utilities such as water and electricity are not problematic at your campsite. A good camping experience is likely to lead to many return campers.
3. Open Up New Revenue Options
It is essential to diversify your revenue streams if you are in the campground franchise business. Considering, a camp store, franchise merchandise, or even renting camping equipment.
You can use an online business where campers can choose to rent these items right as they make their reservations. This way, everything can be put in order before they pull up at your campground. They will appreciate this efficiency.
Campgrounds with more revenue streams are likely to be worth more when potential investors are looking to invest in a campground.
4. Hosting Seasonal Activities and Events
If you run a family campground, you should include events such as barbeques and full moon hikes on your calendar. This will help campers get to know each other and give your campground an overall friendly aura. You should arrange it in such a way that campers have to preregister for these events to make sure you don’t go all in without confirmation of participation.
Such activities also go a long way in creating return campers, which implies regular streams of income. Such factors will prove helpful when business investors are keen on buying a campground.
5. Boost Your Professional Look and Brand
Set up your website in a way that depicts your campground in a deliberate and well thought out way. When people visit your website, the impression they get may dictate whether or not they make a booking. Use suitable aesthetics and themes that reflect your brand and leave a positive impact on visitors.
Many people are very particular about the kind of businesses they invest in. Make sure your campground has a positive image in the eyes of the general public and isn’t associated with any negativity. This factors in when business people are buying a campground.
Contact a representative at Jellystone Franchise today. We’ll be happy to answer the questions you may have.