Published: November, 2018
With summer just around the corner, thousands of RV owners will be hitting the road, which means they’ll be looking for places to park their RVs and to take a rest when the day comes to an end. This makes diving into creating RV parks one of the most rewarding small business choices. However, starting an RV park from the ground up can be a difficult and expensive process, which is what makes purchasing and renovating an existing RV park such an enticing proposition. Read on to learn how to start an RV park by purchasing and upgrading an existing property, and how to get funding through SBA commercial real estate lending.
Find the Right Existing Property Your first step in starting your business is finding an existing RV park that is available for purchase. You can do this either by consulting with a local commercial real estate company or simply browsing listings yourself for likely locations. Make sure that any park you are considering purchasing already experiences relatively steady business, as this will make your ownership transition much easier. You should also make sure that you’ve acquired any building permits that may be needed; your next step will be to add onto your existing property, so avoiding any delays is paramount in opening your RV park in a short time frame.
Update Your RV Park with More Modern Standards Once you’ve acquired your RV park, your goal should be to make it as attractive as possible. Modern RV owners are not content with the old style of park, and will be expecting more modern comforts if they are going to stay at your park. Adding features such as internet access, high-quality bathrooms and possibly even a full featured swimming pool will make your RV park stand out from the competition and more likely to attract patrons. It is also a good idea to add some standalone cabins so that you can entice visitors who don’t own an RV but would like a nice place to spend the night, or even a few days.
Fund Your Project with SBA Commercial Real Estate Lending If you are planning on purchasing and updating an RV camp, the biggest thing you need to get started is finding funding. One of the best, and sadly overlooked, sources of funding for opening a small business such as an RV park comes in the form of an SBA loan. SBA commercial real estate lending is often granted with surprisingly beneficial interests rates, making them the perfect option for those looking to purchase commercial real estate with adding high-level debt. Applying for an SBA loan to start your RV park is the perfect funding solution for your small business dream.
Visit a Community Lender for Your SBA Loan Starting an RV park leading up to the summer travel season is one of the most exciting, rewarding business ventures that a person can engage in. When you are looking to start an RV park, however, you first need the right funding at the right terms to support your endeavor. SBA commercial real estate lending is your most beneficial funding avenue, and the best way to get an SBA loan is to work with a respected community lender like Fidelity Bank. Partnering with Fidelity Bank means having a lender on your side that wants to help you grow your small business in whatever way possible. Get started with us today and build the RV park of your dreams.