Considering Purchasing A Campground Options

[campinngal]

My husband and I are considering purchasing a campground (or dude ranch). My husband has a steady job that he would give up. We are in our 40's. Am just beginning researching this idea and have purchased a book about buying, owning, managing, etc. Have several basic questions and was hoping to hear from campground owners. Hotel values have dropped ridiculously during the recession. My friend in commerical real estate has a resort that was assessed at 10 million, 2 years ago. It's current assessment is 1.5 million. Have the value of campgrounds dropped as well? He says that the standard right now when making an offer is to offer 20 to 30 cents on the dollar and that one cannot judge profits from the last few years in this economy. Thoughts on this (as it would apply to a campground offer)? Would a campground provide a decent living and/or retirement? If you were to have the choice of buying a campground or ranch today, would you do it? If so, would you go for a higher priced campground with a larger profit or a low priced campground with a smaller profit? A seasonal or year round? Both seem to offer the same percentage profit, it's just the numbers are different. Also, what are the benefits and/or pitfalls of going with a franchise (like KOA) vs. an independentally owned campground. Finally, if you can recommend any books, articles, websites, etc., it would be appreciated. Thank you so much. : )

[campinngal]

Pogoil,
Thanks for your insights. Am curious if your park is situated near any big attractions or is it a destination on its own. Also, would you recommend a small park or a spendy, big, established one in a tourist area?

[pogoil]

Pogoil,
Thanks for your insights. Am curious if your park is situated near any big attractions or is it a destination on its own. Also, would you recommend a small park or a spendy, big, established one in a tourist area?

Well had we been able to afford it when we started to look we probally could have ended up in any location with an over night type park. We wanted to be along the coast some where because we have as a family always gravitated toward the coast. But we did not have unlimited funds. So we found a small older park in a small town on the coast. The park caters to nightly, weekly and monthly folks. We have a mix of long term as well. They are all wonderful people many retired full time RV people. When we bought the park we were not aware of how many people enjoy the full time RV lifestyle. We are like a small community. Some return year after year for the summer months and most are retired. We are active with potlucks, ice cream socials and coffee and social hour daily and some side trips as planned activities.
In my opinion the Oregon coast is a destination in it self. It is beautiful and the climate is mild all year long. But many of my guests follow the sun. There are no big attractions here but all the natural beauty one can stand. Hiking, biking, kayaking, fishing, crabbing, storm watching and so on.
In my opinion, situate your choice in the right location, large resort or small mom and pop and you should do well if the price of fuel stays reasonable.
Good luck in your choice.