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How to Profit From Changes in the RV Park Industry

We are in an age of uncertainty and change. The biggest force in today's market are trends which can shift once powerful business models into failures at very fast speeds. You have to be on top of these trends to succeed. And there are definite market trends at play in the RV park industry.

Gas prices are high - but moderating

It's very expensive to fill up the gas tank on an RV - but it's stabilized now. Initially, there was huge sticker shock as gas rocketed from $1 to almost $4 per gallon. But now the giant increases are over. So RVs are taking to the road again. This is good news if you own a park. But the way they're travelling is changing. Read on.

RVs are staying in one spot longer and not driving as much

This is a very important shift that you need to be aware of. Owners are trying to hold their gasoline costs down by going to one RV park and staying there for a longer time. Rather than hop between areas of interest, they are picking one single destination; driving directly there and then driving directly home. So the key is to own a "destination RV park" as opposed to one that is nothing but a sleepover on the way to the destination, or a lesser destination that nobody is that interested in. A "destination" RV park would be a location that has a large number of exciting activities to participate in, and is a very scenic, attractive spot.

For example, Yellowstone National Park is a "destination" RV area.

RV buyers are becoming a younger group with less expensive units

The biggest growth pattern in RV sales have been in the low-cost inventory. This is because many families are turning to RVs to lower their cost of travel and accommodate a bigger interest in nature and "camping". This means that the growth area in RV parks, going forward, is on areas of natural beauty and activities. Remember all those RV parks that people built next to outlet malls and casinos? New data suggests that was not a great idea.

RV customers are staying at parks with national marketing and memberships

The top 50 RV park companies only own 25% of the total number of RV parks in the U.S. What this means is a high level of fragmentation. Just as customers seek out a McDonald's on the road to assure them of cleanliness, safety and an enjoyable experience, RV customers seek out national brands such as KOA and Good Sam Club. Since any RV park owner can join these clubs - under certain conditions - it would be an important step to understand and join the clubs that give RV customers confidence in their stay.

Conclusion

There are around 8 million RVs in the U.S. You only need to capture a tiny fraction of those to have an RV park that is a raging success. But stay on top of trends to make sure that you are on the right side of the curve.

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