A short instructional video by Donna Bordeaux (campgroundaccounting.com) advising campground owners to create a prioritized list of repairs and improvements. She recommends estimating costs, estimating return on investment and payback time for each item (suggested spreadsheet columns: item, cost estimate, ROI/payback), and prioritizing projects that produce ROI so they can fund lower-ROI items. The video closes with a call-to-action to contact her for help.
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 prioritized those items and how should you prioritize them? We work with campground owners across the country to help them look at when the investment 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 the 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. Let those pay for the others. So I hope that helps clarify what you want to have in your list of repairs and improvements and on your wish list. For your part, 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. Sam.
