Originally Posted by bean
prof_fate, yeah that doesn't sound too bad.
Do you mean to say that for a total of $8400 you have a 365 days a year spot for 10 years ? That sounds interesting...
Of course the scary part is the unknown assesment fees and such...That is the part that would scare the hell out of me. Is there at least a limit to what the assesment fee can be ?
You get 3 weeks on site (and can't leave the camper unoccupied overnight) then have to leave for a week.
$5400 was our 'buy in' (or $8400 for lifetime) - but that comes with the maintenance fee (which cannot go up)
The other fees/assessments can change...as we found out. We were sold, I mean told, that storage there is free...then got a bill for it ($40/month).
There was an assesment last year for $80 - to put in campground wide wifi, new front gate w/ automated keys, and to do an engineering study to see about putting in sewer hookups.
As a 10 year member I can upgrade to the lifetime for $3k anytime during the 10 years, but cannot sell/transfer the membership. As a lifetime member I can (after the first 2 years) - there is a fee ($250?) and the new member has to be vetted by them. I can leave it to my kids in a will if I so desire.
As a business owner i'm intrigued by the business model... say you sell 50 memberships a year and have sold 500 in the past. (based on our membership I think that's close) and have 100 sites, have 50 trailers in storage...
New memberships - $300,000 a year in new memberships (figuing $6k avg)
500 paying you $300/year in mtce fee - 150,000
50 trailers at $40/mo (480.yr) 24,000
Roughly $475,000. Assuming you're not banking those membership dollars you have to sell new memberships every year.
So what does it cost to run a campground?