Glamptuary Attends The Glamping Show 2022 - Key Takeaways
HIGHLIGHTS INCLUDE AMAZING GLAMPING STRUCTURES, HELPFUL VENDOR OPTIONS, AND TIPS ON HOW TO FINANCE A START-UP GLAMPING OPERATION.
Glamptuary would like to return the thanks to David Korse and The Glamping Show for hosting this year’s event, along with a special thanks to everyone in attendance who helped make this show worthwhile and enlightening.
It was great to see all the happy people exchanging ideas, making connections, and celebrating this young hospitality business category.
There were some new vendors in attendance set amidst some expected ones.
One in particular caught my eye that was offering VR marketing support. They are based in Poland and go by the name of New Media VR. They offer a suite of VR based approaches to highlighting glamping structures, glampsite properties, and on-site experiences. This could be a helpful tool for this emerging market as the term “glamping” is still misunderstood by a significant percentage of the consumer market. Another key stat is that glamping is growing exponentially with millennials who enjoy digesting their VR content. With Meta on the rise, this could be a valuable tool for innovative glampsite owner/operators.
I did not bring my VR camera rig to the show, but I did manage to snap pics of some beautiful glamping structures on display at The Glamping Show. Below is a collection of some that I found extra interesting. The full list of exhibitors can be found here.
The weather was wonderful, which really helped this years show as half of it was set up outdoors. It was great to see all the glamping structures outside as they should be…in their natural habitat.
The other half of the show featured exhibitors that provided services such as financial loans, feasibility studies, booking platforms, marketing support, and various other products and services that could be just as attractive inside the exhibit hall as outside. Most of the keynote speakers presented inside as well and the one presentation I found extremely helpful was all about financing.
The presentation was titled “The Scoop on SBA and USDA Loans” which doesn’t sound sexy, but the information provided by Bruce Hurta of Ameris Bank certainly was…to me anyway. Maybe sexy isn’t the right word to describe financing (Bruce even said this), but without a thorough understanding of how to finance your glamping dream, you may be stuck day dreaming.
Bruce Hurta
Bruce did a fine job of explaining the financing options as they pertain to the commercial operations of glamping. I stressed commercial because he focuses on government backed loans for commercial use. Financing used to buy property (especially if you plan to live on the land) is most likely a residential loan.
Then there are the zoning laws, permitting laws, and a plethora of other considerations that need to be considered for a glamping operation to go from dream to reality. These things need to be buttoned up with a strategy in place before you approach someone like Bruce to start talking about financing. Fortunately there were vendors in attendance, like Glampitect, who can help get your ducks in a row with a feasibility study and a business plan. These two items are the litmus test to see if your plan is possible…and if it is possible…folks like Bruce can help make it a reality.
There were three government backed loans that Bruce covered. They were the SBA 7(a), the SBA 504, and the USDA Business and Industry options. There are more traditional means of financing, but one thing that makes these loans very attractive to banks…is that the government assumes part of the risk. And it’s ALL about risk when it comes to financing.
I’d highly recommend checking out the links above which dive deep into what each loan is about, and what qualifications are needed. I’ve provided a shortlist below for quick reference.
SBA 7(a)
Available up to $5 MM per borrower
Funding available for business acquisition, partner buyout, business start-up, business expansion, and debt consolidation
PROS
Good option for buyers who want a lower down payment to start
Good for start-ups who will need financing for construction
CONS
Lower cap amount
SBA 504
Available up to $12.5 MM per borrower (up to $15 MM if the project meets renewable energy efficiency goals)
Financing available for real estate and/or equipment purchases
PROS
Higher cap amount
Bank provides a first lien for 50% of project costs at lower rates
Good for refinancing existing loans to gain better rates
Low down payment
CONS
No financing available for start-up concepts that include construction, working capitol or goodwill value
USDA Business & Industry
Available up to $25 MM per borrower
Funding available for business acquisition, partner buyout, business start-up, business expansion, upgrades to existing structures and amenities, and debt consolidation
PROS
High cap amount
Longer repayment terms
CONS
Long approval process with more scrutiny
20% downpayment required which is higher than SBA requirements
Only for rural locations (population under 50,000)
Ameris Bank is national so no matter where you live in the U.S., they could help. There are many options out there besides Ameris, so please do your research to find the best fit for you. As far as international banks or banks outside of the U.S., this list could be helpful at Lexis Nexis.
I’m glad I went to the show. It was inspirational to see everyone who in some way, love glamping as much as I do.
For information on upcoming shows and events - you can check out The Glamping Show website, and you can also check out the American Glamping Association website.
Safe travels everyone!
I truly appreciate your time and if you’ve enjoyed what you’ve read - please share with your friends.
