I’m Donna Bordeaux with CampgroundAccounting.com. Do you have a list besides the one in your head of the repairs and improvements that you would like to make to your park? Have you prioritize those items and how should you prioritize them?
We work with campground owners across the country to help them look at when the investments should be made and how to prioritize that list. In looking at the priorities, the first thing you want to do is look at the return on investment that each of those items would create.
So for example, if you are looking at repaving your roads, will that increase your rates? If you’re looking at something like redoing your septic system, which is a huge expenditure, maybe that will reduce costs of what you’re paying today.
Create a list and put in column one what repair or improvement is, put in column two, how much it costs or what the estimate of the cost would be, in column three, what would the return on investment be? And how long would it take you to get that? When there are items that you don’t get a return on investment on, those generally become a lower priority when you see how much more you’ll be able to make.
The goal here is to have a return on investment on some of those repairs and improvements, what those pay for the others. So I hope that helps clarify what you want to have in your list of repairs and improvements on your wishlist for your park. I’m Donna Bordeaux with CampgroundAccounting.com. I’d love to talk with you about your list and how we can help you grow your business. I’m Donna Bordeaux with CampgroundAccounting.com. Thank you.
Donna Bordeaux, CPA with Campground Accounting
What happens when you send two CPAs out into the relaxing outdoors to camp? You get CampgroundAccounting.com. Donna and Chad have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They camp and travel across the country every chance they get, so it’s just a natural fit that they focus their CPA skills on helping campground owners throughout the USA grow their businesses and minimize the impact of taxes. They understand the key performance indicators and specialized issues that face RV park owners every day.