Stunning Ocean Front RV Park w/ 300+ sites - Click For Details
This very popular location is located on seemingly endless miles of clean, unobstructed sandy beaches and has a reputation for having the warmest waters north of Virginia and one of the best salt-water beaches in Canada. Your life here is surrounded by a multitude of attractions, providing plenty of family-oriented options that are fun, exciting and pleasing to campers of all ages.
Open less than 5 months per year, all seasonal sites have been completely occupied for the last 7 seasons and are fully reserved and paid-up for the 2020 season, which equates to more than $500K in the bank before opening.
278 of the available sites are full service, 30 AMP, with all power being upgraded to code since 2017.
Other profit centres include seasonal camper deck construction, overnight tourist sites, non-camper beach & visitor passes & on-site store sales. The business offers a games room, store, great fishing, a jumping pillow, several playgrounds, adult only swimming pool and a large building for indoor activities including dances, pool, darts, etc.
Seller's Discretionary Earning have been growing every year, have averaged $421K over the past 3 years, was $427K for this season, and the seller is expecting $472K for 2020.
There are multiple income sources in this business with an easy opportunity to create more, should you wish.
For the 2020 season, gross sales are expected to exceed $675K, with forecasted SDE greater than $470K, and is based on 2019 revenue plus a $40,800 seasonal site fee rate increase for 2020.
For the 2020 season, gross sales are expected to exceed $675K, with forecasted SDE greater than $470K. For the Seller's purposes, they are forecasting 2020 revenues based on 2019 revenue plus a $40,800 seasonal site fee rate increase for 2020, as well as the addition of 10 newly created serviced site for overnighters (approx. $24,000 in additional revenue). For our purposes (Gateway Business Brokers), we have only considered the additional income from the confirmed seasonal increases.
There has not been an unoccupied seasonal site for the past 7 years (during present ownership) and no unoccupied seasonal sites in 2020 will make it 8 consecutive years. There will be over $500K cash in the bank before the season starts, from seasonal payments of campers.
For information purposes: A new mortgage of $2.7M, 20 year amortization, would have payments of approximately $225K per year.
** Seller's discretionary earnings are the pretax and pre-interest profits before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. In addition, SDE may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.
Minimum Equity Required
Includes a restored cottage, a large rental trailer, and a very large 3-bedroom home (approximately 6,000 sqft) which has a 2-bedroom apartment (leased on an annual basis), a 4-room office suite, as well as a campground manager’s office.
- Upgraded sewer system with a recently constructed (2012) on-site sewage treatment and disposal plant.
- In 2016 and 2017, the park went through a complete site electrical analysis and upgrade. All site wiring and connections that did not meet current standards were replaced.
- There are a total of 3 PIDs included, totalling approximately 28 acres + an additional 4 acres of seasonally leased land.
- The residential home is on one PID, and may be possible to obtain a residential mortgage.
Non Disclosure Agreement
I hereby acknowledge that information regarding the following business(es) and/or Seller(s) is being provided to me in SECRECY AND CONFIDENCE and is to be used solely for the purpose of assessing the prospective purchase of the business(es) through Gateway Business Brokers.
I agree not to disclose any of the information given in connection herewith, either directly or indirectly, to third parties, except direct support people; nor will I use, or assist others to use, any such information for competitive trade purposes or to circumvent Gateway Business Brokers in any transaction or contact with the seller(s). I agree not to make copies of any of the material provided and to return all of it if I discontinue interest in the Business. The material and information furnished is believed to be reliable for the purpose of evaluating the Business. Further, I agree that all inquiries, investigations, negotiations, offers to purchase, and/or letters of intent must be made through Gateway Business Brokers. I agree to protect and not disclose the confidentiality of the information I receive permanently, even if I choose not to purchase the said business.
I agree that any breach of this Non-Disclosure Agreement (the "Agreement"), directly or indirectly, will be harmful to the Seller(s) and Gateway Business Brokers. In consideration for the information given, I agree that the laws of Nova Scotia will govern this Agreement and that all actions that may arise in law and/or equity shall be brought in Nova Scotia.
It is understood that this Agreement also applies to any information previously supplied by Gateway Business Brokers, verbally or in writing. I understand that neither the Seller(s), the Business(es), its officers, directors, employees, nor Gateway Business Brokers ,shall have any liability as a result of furnishing me the material included in this Agreement.
This agreement also acknowledges that the undersigned Buyer(s) has (have) been advised that Gateway Business Brokers provides Client representation for the seller(s) and Customer representation for the buyer(s) in this transaction, as per the terms that have or will be provided. I agree that should I buy, lease or come into possession of the Business, in whole or part, during the listing term or within 1 year from the expiry date of the listing term, Gateway Business Brokers’ right to a fee, as per Gateway Business Brokers’ agreement with the Seller(s), will be deemed earned. I understand I will be personally liable for payment of any applicable fees, as so reasonably determined, if I breach any clause of this agreement. It is agreed, however, that if a purchase is completed with the assistance available from Gateway Business Brokers, I am not liable for a fee.