Caravan Park for Sale -3 due diligence areas to consider
Looking for a good Caravan Park business to purchase is not easy. Not only do you want to buy a Caravan Park that is going to be a successful business but you also do not want to buy a Caravan Park that is going lose money and cost you hundreds of thousands of dollars in mistakes.
Here are three areas that should be considered before jumping into a Caravan Park business deal.
Caravan Park Location
Is the Park suited for overnight guests, are they taking a break while on a long trip? If so then being close to the highway and exit is going to be important. Sign visibility from the highway will also be a big advantage. And lastly is there restaurants and a petrol station nearby?
If the Caravan Park is a destination park which attracts tourists they will want to be close to the attraction. Being close to shopping, cafes and other services is going to be a lot more attractive than a park that is in the middle of nowhere.
When looking for a Caravan Park for sale make sure you equate the location thoroughly as its an aspect you cannot change. It can make you successful or cause you to lose your investment.
Make sure you evaluate the noise that the Caravan Park may experience on a daily basis. If the Caravan Park is located next a train line or a highway with no sound barrier then this can be an element that will impact potential customers coming to stay.
Tourists want to have a holiday in a quiet family friendly environment, noise can destroy that atmosphere.
While the above is not an extensive list, it is good to understand any other aspects that may cause difficulty making the Caravan Park successful. One way to find out is to ask the people that live there. There may be permanent residents living the park that will be able to provide a wealth of feedback regarding the parks positive and negative aspects.
We all want to buy the best Caravan Park on offer. Do not rely on gut instinct, take proper care and due diligence when assessing a Caravan Park for sale.