With summer officially underway, many are making trips to campgrounds across the country. When people visit these campgrounds, some wonder what it would be like to run one.
This video from CNBC Make It covers the story of how the Lemoine family put all their life savings, and took out a $1.2 million loan, to purchase a campground for $1.6 million. After being burnt out from a government job, Mark Lemoine and his wife, Karla Lemoine, bought the Coloma/St. Joseph KOA Holiday in Southwest Michigan.
Since buying the place, they needed to put in a lot of work to renovate the property. After that, they added new amenities like giant game boards and a family fun zone. They also added various lodging options, like basic and deluxe cabins, along with luxury glamping sites.
The campground makes $1.2 million a year and hosts 15,000 guests a year from all fifty states. They ultimately describe the campground as their retirement plan, with its present-day value at around $6 million.
Ultimately, to be a successful campground owner, you need to be willing to take some financial risks, continue to improve the property, and produce a friendly atmosphere, which the Lemoine family has done. The video from CNBC Make It is below.