Campground
Background Information
This business has been in existence since the mid 1940's. The current owner operating under a Subchapter "S" Corporation has owned and operated the business and associated real estate since 2003. The business is primarily a seasonal campground consisting of 130 sites, plus four one-bedroom cabins and two two-bedroom cabins. Other physical structures on the property includes a main office building; a metal maintenance building; 2 bath houses; game room building; ping-pong pavilion; and a double-wide manufactured home used as the owners' residence. There is a play area including a river fed swimming pond with beach; play structures; horseshoe pits; and a tennis court. Aside from the approximately 25 acres upon which the campground sits, there are 61 acres of prime development land surrounding the campground. Also, on the north side of the road sit another 83 acres of developable land, designated in current use. In total, the package includes the business, all physical structures, and 168 acres of prime development land bordered on three sides by the White Mountain National Forest.
Over the last 60 years or so, the campground has earned its solid reputation as a top quality, spotless, centrally located, family campground. Over 50% of its business consists of repeat campers. The main office building is also the location of a fully stocked retail store offering camping necessities, food, sundries, souvenirs, firewood, propane gas, and recreation items. Open from the middle of May through the end of October, the campground is the premiere campground in the Lincoln-Woodstock area.
The Industry
The campground industry in the area is seasonal, as it sits in the heart of New Hampshire's White Mountain region, a popular tourist destination in the summer and fall. Generally speaking, the lodging industry in New Hampshire has been fighting to maintain revenue numbers and visitor counts in the last couple of years. In the area, summer seasonal businesses have been able to better buck that trend as they have not suffered the losses that year-round businesses have experienced due to poor winters. Higher gas prices coupled with lower consumer confidence levels are always a challenge to the tourism industry, but the area's proximity to key feeder markets within a three hour drive have minimized that risk substantially. Specifically, the campground has seen revenues grow roughly 8% per year since the current owner purchased it in 2003.
The real estate market in the area, as it has all over the country, has begun to realistically adjust to the phenomenal growth it experienced over the last few years. The area is currently somewhat insulated from the major declines the southern part of the state is experiencing as the valley's real estate market is more diverse with a high demand for second homes, investment property, and resort development. Available large parcels of land are still at a premium in the area as the majority of land in the valley is designated as either state or national forest. High end development taking place around the area has driven demand for real estate to higher levels than would have been seen without it. The future development of the area will directly impact the real estate market as a whole in the region.
For further information on the state of the lodging and real estate industries in New Hampshire, contact the following entities:
New Hampshire Lodging and Restaurant Association
P.O. Box 1175
14 Dixon Avenue, Suite 208
Concord, NH 03302
603-228-9585
www.nhlra.com
Northern New England Board of Realtors
P.O. Box 1748
Concord, NH 03302
603-228-9733
www.nneren.com
Location
The campground is ideally located within an hour driving time from all the attractions that make the White Mountains such a popular vacation destination such as Lost River, Clark's Trading Post, Whales Tale Water Park, Hobo Railroad, Loon and Cannon Mountains, Waterville Valley, Bretton Woods, The Cog Railway, The Flume, Story Land, Santa's Village, Six Gun City, Polar Caves, Mount Washington and the Presidential Range, Lake Winnepesaukee, and many rivers, lakes, and hundreds of miles of hiking trails.
Physical Condition
The condition of the campground itself is very good to excellent and all buildings are in good to very good condition. All capital assets are consistently maintained with preventative maintenance handled on schedule and repairs and upgrades handled as required.
Reason for Selling & Other Facts
The owners are looking to retire. They are willing to train the new owners for up to two weeks at no charge. The one full-time employee on the payroll may be willing to stay on for a new buyer.
Inventory of Furniture, Fixtures & Equipment
- Wireless Television and camera
- Computers (3)
- Desks and Chairs (2)
- Store display fixtures
- ATM
- Kyoti 25 horsepower tractor
- Gas powered Club Car with electric dump
- Gas powered Cub Cadet with electric dump
- Electric golf cart
- Generator
- Welder (wire feed)
- Landscaping tools
- Gas powered leaf blower
- Gas powered honey wagon
- Huskavarna riding mower
- Log splitter (no engine)
- Bench grinder
- Bench vise
- Tool storage cabinet
- Bin storage for nails, screws, etc.
- Supply racks (3)
- Couches (2)
- Dining table
- Bedroom suite
- Bookshelf
- Televisions (2)
- VCR and DVD
- Ice maker
- Ice storage bins (2)
- Ice cream freezer in woodshed
- 9 foot store cooler
- Bubble gum stand with 5 machines
- Single bubble gum machine
- Bouncy ball vending machine
- Sportsblaster
- Card and tattoo machine
- Chainsaw
- Weedeater with chainsaw extension
- Ping-pong table
- Paddle Boats
- Campground management software
- Two jumbo commercial dryers
- Four commercial coin operated washers
- Three coin operated dryers
The approximate total fair market value of the Furniture, Fixtures and Equipment is $22,000.
Inventory
The approximate total fair market value of the retail store inventory included in the price of the business at the time of sale is $10,000. An inventory of all the items should be taken at the time of closing and the value adjusted (up or down) depending upon its results.
Hours of Operation/Employees
The campground is open from May through October. Hours July 4th through Labor Day are from 8am to 9pm, Sundays through Thursdays, and from 8am to 10pm on Fridays and Saturdays. During the shoulder seasons, the hours are from 8am to 7pm.
There is one full time employee and 5 part-time employees. Both owners also work full-time. A contracted security detail patrols the campground after 10pm, during quiet hours.
Size of Facility
There are 13 permanent structures on the property including a Main Office/General Store, 4 one-room cabins, 2 two-room cabins, metal shop, 2 bath houses, game room, ping-pong pavilion, and a double-wide manufactured home used as the owners' residence.
Annual Sales Volume
Available upon completing a Confidentiality Agreement.
Gross Profit Margin
Available upon completing a Confidentiality Agreement.
Expenses
Available upon completing a Confidentiality Agreement.
2004-2006 P&Ls
Available upon completing a Confidentiality Agreement.
Ways to Improve the Business
The owners feel that by adding additional cabins on the developed campground site and also on the north side of the property, revenues will certainly increase as the current demand for cabins cannot always be met. Adding an additional six or so full hook-up sites will also help to address the demand which currently cannot be met. Finally, adding an ice cream parlor offering soft serve and hard packed ice cream will also substantially increase the revenue flow.
Recommended Listing Price (RLP)
The RLP justification for this business is as follows:
| The business has Gross Revenues of: | * |
| The business has a cost of goods sold of: | * |
| The business has a Gross Profit of: | * |
| The business has Sellers Discretionary Earnings of: | * |
| Salable Inventory at Cost: | $10,000 |
| Furniture, Fixtures and Equipment: | $22,000 |
| Real Estate: | $4,468,000 |
| TOTAL RLP: $4,500,000 |
*Available upon completing a Confidentiality Agreement.
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