Staying Ahead Of The Competition
Thriving Amidst Competition: A Lesson in Niche Creation
The RV industry is growing, and there are new players coming into the market everyday. With this growth, many of our clients are getting concerned about the big boys building or buying parks near them. They wonder how they can stay ahead of the curve and stay profitable and growing in this ever competitive environment.
I learned this lesson early on in my career. I was still working as a CFO with my former firm when they became interested in building a park. The location was close to a very well run, and highly popular vacation resort park. Everyone thought we were crazy. They did not think the market was deep enough or that our amenities and location would work so close to this behemoth of a competitor.
They were wrong.
By creating our own niche, working rates, intense revenue management, and marketing focused on OUR target market, not only did we do well, but in three years we were surpassing the revenue of the competitor park. It took work, daily focus, and savvy decision making, but it was a huge success. After four years of operation, it became an acquisition and sold at a 14 million dollar profit.
Since I was the one responsible for making it happen, I was intensely involved in each step along the way. Now armed with these tools- our AOS team helps our parks in the crunch of competition learn how to not only survive, but thrive in today's market. Creative marketing, niche attractions, revenue management, and data driven decision making helps our parks not only build better mousetrap, but can help them become an attractive option for investors in hot markets.