Selling Your Minnesota Resort
Orion Resort and Campground Sales co-brokers with any other real estate company on the same basis as those companies will co-broker with Orion.
When Orion handles the sale...
Market & Property Analysis
We provide a market analysis on the property value and counsel the owner of the most suited terms given the present market.
Dedicated, Personal Attention
We give our personal attention to see that everything is done on a timely basis and help with any problems which can occur during the process.
We advertise extensively through major business markets and digital marketing, including Google, Facebook, and our website.
We prepare a portfolio to showcase your property, including a thorough photo brochure information packages which are shared with prospective resort and campground buyers.
We recommend accounting software, reservation software and where to advertise.
We make the best presentation of your property. We schedule showing of the property with the seller. We show all of the potential of the property (our current operating experience is very valuable). The entire sale process is handled quietly and confidentially and will not affect the operation of the property.
Legal & Accounting Coordination
We suggest what to communicate to your accountant to be sure you have covered all the bases so you can make the best (least tax) interpretation of acknowledging the taxable event of the sale. We offer some ideas and steer you in the right direction (or at least ask if that base is covered in your long term planning) for estate planning.
Budgets & Revenue
We put together a budget and projected yield for implementing the potentials.
We help summarize the inventory of re-saleables (fuels and supplies).
We provide lists to help with details of business start up (transfer of licenses, insurance, tax ID, sales tax, other start up issues).
Buyer Qualification & Education
We qualify buyers and handle the showings (unless contracted differently). We give the buyer an education of the industry. We set the buyer up with the correct contacts within the industry that will help with their success.
How to Sell Your Resort for More Money
When you are preparing to sell your resort, it is important to take a look at all aspects of the property and business and make sure they are running smoothly. The following list is a suggestion of areas to look at and make improvements where necessary.
Review of first impressions
- Presence on the web
- Brochures and stationery
- Phone manners
- Entrance to the resort
- First greeter
- Entrance of each cabin
- General appearances of grounds, docks and equipment
- Daily routines
- Check in / out ease
- Time saving devices and equipment
- Shop Everything: Insurances, credit card fees, online purchase of supplies, pre-planning for turnover days to maximize labor efficiency and trade out labor.
- My rule of thumb is do nothing without a minimum of a 20% yield - Meaning no purchase of rental equipment or improvements to any cabin or revenue source without a net yield of 20% (The cost of money, a risk factor and a margin.) A simple formula can save time and minimize risks.
- There are some exceptions to this rule if it improves rates or occupancy.
- External is getting guests to the resort; internal is getting them to spend more money once they are there. (Example: The use of discount coupons given upon arrival for equipment that is not rented prior to arrival).
- In the resort business, we all have perishable inventory and need to manage it correctly. What we have to sell is an increment of time. If it doesn't sell, it should be wholesaled for last minute purchasers, traded for something the operator needs, or given away for a future benefit.
- Price cabins by demand, comforts, view, and privacy.
- You MUST track your advertising. Use what works and cut the unnecessary expenses.
Dealing with lenders
- Once you are an owner, first rule of thumb, never borrow money when you really need it. Set up your lines of credit when you are in the very best cash position. Make your payments just after cash flow peaks.
- Don't store cash in a checking account earning 0 while your debt is accruing interest.
- Make sure your banker is working with you, your loan is as much of a problem to the banker as it is to you.
- Show your banker you are organized, feed them good information and always negotiate for a better rate.
Ready to buy or sell?
Our team is here to help with the process. Get in touch today.