Camping as an Investment
Camping is a beloved American pastime. From camping in luxury and style with a state of the art camper to pitching it old school with no power and a tent, six in ten households report that they enjoy camping of some form. People rarely see camping as an investment, real estate, or a franchise, but they very well are and can be quite profitable. Whether you are interested in a small investment slice of a campgrounds business or want to become a major player in the field, the steps to get there are quite basic. Here is how you can become a campgrounds investor in three easy steps.
Do your research. You may have opportunities to purchase or invest in campgrounds for sale near you. You will need to check with your local real estate agents, city hall, and the administrator at the campground itself. You will need to research the profitability of the campground as well. Is the campground at capacity every day in the summer, or does it struggle to keep its grounds half full at best? What are the biggest selling points of the campground—such as outdoor cooking hookups and playgrounds for children—and what are its weaknesses?
Determine your purchasing power.Are you dipping your toes in the campgrounds business or cannonballing in? Decide how much you want to invest in this business involves many factors, such as your disposable income and current outstanding debts. Your initial investment could be a larger some than your revolving (meaning, monthly or annual) investments. Make sure you do not dip into funds that would affect your emergency cushion or bills.
Enlist some personal help. There are people out there whose profession is making investing easier. These financial advisers or investment firms can help you understand the market, the risks, and the process of investing. In order to avoid committing a financial blunder that will seriously affect your financial standing in the future, it is best to hire one of these professionals to wade you through the gray area of investing in a campgrounds business and steer you away from risks that are too steep.
Investing can be confusing and difficult, but if you make sure to approach it with the right tools it will prove to be a rewarding commitment, for you as a financially savvy individual and as a lover of camping.