Camping is increasingly becoming popular among the millennial population. In 2018, 1.4 million American households camped for the first time, with 56% of the participants being millennials. With the demand for family campgrounds on the rise, putting your money in an family campground franchise is now a solid investment opportunity.
The Campground Market Watch
Six out of every ten households can say that someone in their home has gone camping. In 2017 alone, over 41.8 million Americans participated in car and RV camping. Family campgrounds have become a lucrative investment with a steady flow of income.
Market Research reports that net revenues in 2019 increased to over $7 billion from over 14500 businesses within the industry. The revenues are up from $5.5 billion recorded in 2015, with parks increasing from 12500. The rapid increase was in line with the projected average growth rate of 2.7% from 2015-2019.
Benefits of Working with a Family Campgrounds Franchise
Investing in an already established family campground franchise provides an easier road to success than starting from scratch. Here are six benefits of working with a franchisor.
1. Wider National Outreach
Most campground franchises own parks spread out throughout the US and Canada. As a franchisee, you benefit from the national marketing campaigns that get camping enthusiasts walking into your park with minimal effort.
2. Higher Rates of Success
Starting and running a family RV park can be quite hectic. A franchise may help you learn the ropes at a quicker pace. Franchisors establish a set standard of operations for all parks to ensure quality service to their clients. Reports show campgrounds under franchises have a higher rate of business success, with some franchises reporting a 33% ROI.
3. Easier To Secure Funding
RV campgrounds require a lot of resources when starting. It may be difficult to access credit as a sole proprietor to run the park. Having a franchise contract from a national brand may smoothen your way to convince financiers to lend your capital to start your business.
4. Established Reputation and Image
Franchises give you an upper hand by tapping into the brand’s name and reputation. Clients want to go to a place they have heard of before. A good experience at another franchise branch may persuade them to flock into your campground, making your park a leading campers’ destination.
5. Ready Support System
A franchise may reduce the burden of being a startup by building on an already established ground. Most franchisors will offer detailed business plans, training, and instructions that guide you in running your business. You get free access to a network of like-minded investors that may provide solutions to some of your problems.
6. Room for Expansion
Investing in a business that has a proven track record provides a better ROI that frees up cash for expansion. A franchise paves the way for owning more campgrounds down the road. You get first dibs on opportunities to add a second location to your portfolio.
Franchise family campgrounds not only provide a better return on investment, but they also offer opportunities for your business expansion. A well- managed RV park will provide a steady flow of income from your lucrative investment. Get a partner who will hold your hand and guide you as you learn the ropes to a successful campground venture.