Mobile Home Park Business Plan Template

Written by Dave Lavinsky

Mobile Home Park Business Plan

You’ve come to the right place to create your Mobile Home Park business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Mobile Home Parks.

Below is a template to help you create each section of your Mobile Home Park business plan.

Executive Summary

Business Overview

Riverside Meadows Mobile Home Community is a mobile home park business located in Trenton, Pennsylvania. The company is founded by Garrett and Penny Harden, both former employees of a sizable mobile home park neighborhood. Garrett was the Operations Manager for his former employer, overseeing everything needed for the community, including tenant relations, maintenance, landscaping and general day-to-day management. Penny was the Administrative Manager for the same company, where she took on the administrative tasks, including overseeing rent payments, daily correspondence, tenant needs, and park personnel. She also handled payroll and accounting duties.

 

Product Offering

The following are the services that Riverside Meadows Mobile Home Community will provide:

  • A safe and comfortable living environment
  • A strong sense of community
  • A clubhouse, recreational areas, playgrounds, walking trails, and community gardens
  • Lush landscaping environment with grass and trees at each mobile home unit
  • Convenient access to highways, public transportation, and shopping centers
  • Comfortable lifestyle for individuals, families, retirees, and seasonal residents
  • An inviting and sustainable community
  • On-call maintenance and repair service for residents

 

Customer Focus

Riverside Meadows Mobile Home Community will target individual adults of all ages. They will target families. They will target seniors who desire a tight-knit community and socialization. They will target those seeking affordable housing options. They will target homeowners looking to downsize.

 

Management Team

Riverside Meadows Mobile Home Community will be co-owned and operated by Garrett and Penny Harden. They have recruited John Jacobs to be the Property Manager. They have also recruited Tiny Landen to be the Maintenance and Repairs Manager. Garrett recruited Janine Harris to be the Resident Services Manager and Penny recruited Art Granger to be the Property Oversight Manager.

Garrett holds a bachelor’s degree in Finance from Pennsylvania State University. His former employment at a sizable mobile home park business gave him over twelve years of experience as he took on the role of the Operations Manager. He learned every aspect of operating and deftly handled the resident requests, communications and maintenance needs of all. Penny Harden was employed by the same company, where she held the role of Administrative Manager. She will continue in that role with Art Granger in personnel oversight.

John Jacobs was formerly employed for five years by a small mobile home park as the General Manager. He created a system to successfully integrate new families into the park, while encouraging seniors in the park to engage with the community. This brought new life to the mobile home park, enabling the owners to enlarge the park and expand the amenities. John will take on the role of Property Manager, where he will oversee resident screening, lease agreements, rent collection, and dispute resolution.

Tiny Landen will be the Maintenance and Repairs Manager, having been employed for the past six years as a maintenance supervisor for a homeowner’s association. He will establish a regular maintenance schedule, including landscaping, infrastructure upkeep, and mobile home inspections.

Janine Harris will be the Resident Services Manager, providing responsive customer service, facilitating community events, and addressing residents’ concerns. She was formerly the Resident Advisor for Garrett Harden.

Art Granger will be the Property Oversight Manager. In his role, he will assist Tiny Landen and ensure compliance with zoning regulations, safety codes, and housing laws. Art was recruited by Penny Harden, as he was formerly the Property Assistant Manager and worked with her on a daily basis.

 

Success Factors

Riverside Meadows Mobile Home Community will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly-qualified team of Riverside Meadows Mobile Home Community
  • A clubhouse, recreational areas, playgrounds, walking trails, and community gardens
  • Lush landscaping environment with grass and trees at each mobile home lot
  • Convenient access to highways, public transportation, and shopping centers
  • Comfortable lifestyle for individuals, families, retirees, and seasonal residents
  • Comprehensive menu of services for on-call maintenance and repair service for residents
  • Riverside Meadows Mobile Home Community offers excellent pricing and package pricing for families. Their pricing structure is the most cost effective compared to the competition.

 

Financial Highlights

Riverside Meadows Mobile Home Community is seeking $200,000 in debt financing to launch its mobile home community business. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

  • Office space build-out: $20,000
  • Office equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph outlines the financial projections for Riverside Meadows Mobile Home Community.

Riverside Meadows Mobile Home Community Pro Forma Projections

 

Company Overview

Who is Riverside Meadows Mobile Home Community?

Riverside Meadows Mobile Home Community is a newly established, full-service mobile home community in Trenton, Pennsylvania. Riverside Meadows Mobile Home Community will be the most reliable, cost-effective, and efficient choice for individuals and families in Trenton and the surrounding communities. Riverside Meadows Mobile Home Community will provide a comprehensive menu of amenities and services for all mobile home owners to utilize. Their full-service approach includes a comprehensive array of attractive amenities and services.

 
Riverside Meadows Mobile Home Community will be able to host over 300 individuals or families on spacious lots. The team of professionals are highly qualified and experienced in mobile home lifestyles, as well as all maintenance and repairs of those homes that may be needed. Riverside Meadows Mobile Home Community removes all headaches and issues of owning a home and ensures all issues are taken care of expeditiously while delivering the best customer service.

 

Riverside Meadows Mobile Home Community History

Riverside Meadows Mobile Home Community will be co-owned and operated by Garrett and Penny Harden. They are both former employees of a sizable mobile home park neighborhood. Garrett was the Operations Manager for his former employer, overseeing everything needed for the community, including tenant relations, maintenance, landscaping and general day-to-day management. Penny was the Administrative Manager for the same company, where she took on the administrative tasks, including overseeing rent payments, daily correspondence, tenant needs, and park personnel. She also handled payroll and accounting duties.

Since incorporation, Riverside Meadows Mobile Home Community has achieved the following milestones:

  • Registered Riverside Meadows Mobile Home Community, LLC to transact business in the state of Pennsylvania.
  • Has a contract in place for a 5,000 square foot office at a building next door to the mobile home community property.
  • Reached out to numerous former associates and contacts to spread the word of Riverside Meadows Mobile Home Community.
  • Began recruiting a staff of ten and six office personnel to work at Riverside Meadows Mobile Home Community.

 

Riverside Meadows Mobile Home Community Services

The following will be the services Riverside Meadows Mobile Home Community will provide:

  • A safe and comfortable living environment
  • A strong sense of community
  • A clubhouse, recreational areas, playgrounds, walking trails, and community gardens
  • Lush landscaping environment with grass and trees at each mobile home unit
  • Convenient access to highways, public transportation, and shopping centers
  • Comfortable lifestyle for individuals, families, retirees, and seasonal residents
  • An inviting and sustainable community
  • On-call maintenance and repair service for residents

 

Industry Analysis

The mobile home park industry is expected to grow over the next five years to over $22 billion.
The growth will be driven by affordable housing demand.
The growth will be driven by an aging population who want fewer homeowner responsibilities, but want the community of a neighborhood
The growth will be driven by investment opportunities for those who choose to buy and lease out such properties.
Costs will likely be reduced as economics of scale continue
Costs will likely be reduced as technology advances
Costs will likely be reduced as sustainability and energy-reducing properties become standard

 

Customer Analysis

Demographic Profile of Target Market

Riverside Meadows Mobile Home Community will target individual adults of all ages. They will target families. They will target seniors who desire a tight-knit community and socialization. They will target those seeking affordable housing options. They will target homeowners looking to downsize.

The precise demographics for Riverside Meadows Mobile Home Community are:

TotalPercent
    Total population1,680,988100%
        Male838,67549.9%
        Female842,31350.1%
        20 to 24 years114,8726.8%
        25 to 34 years273,58816.3%
        35 to 44 years235,94614.0%
        45 to 54 years210,25612.5%
        55 to 59 years105,0576.2%
        60 to 64 years87,4845.2%
        65 to 74 years116,8787.0%
        75 to 84 years52,5243.1%

 

Customer Segmentation

Riverside Meadows Mobile Home Community will primarily target the following customer profiles:

  • Adults of all ages
  • Families
  • Seniors who desire socialization without the homeowner responsibilities
  • Individuals seeking affordable housing options
  • Homeowners looking to downsize

 

Competitive Analysis

Direct and Indirect Competitors

Riverside Meadows Mobile Home Community will face competition from other companies with similar business profiles. A description of each competitor company is below.

 

Golden Oaks Mobile Home Village

Golden Oaks Mobile Home Village is an exclusive “seniors only” mobile home park designed to provide a comfortable and vibrant living environment for retirees seeking an active and fulfilling lifestyle. Nestled amidst serene surroundings, the park offers a peaceful retreat while fostering a strong sense of community among its residents. The company is owned by Jacob Silverstein, who built the mobile home village in 2006. The village consists of 150 senior mobile home lots, a clubhouse and library, a pool and spa, and other amenities to serve seniors. There is a 24-hour maintenance and repair service for the residents and a social director who oversees the social gatherings of mobile home park members.

 

Brookfield Mobile Home Park

Brookfield Mobile Home Park is a welcoming mobile home park designed specifically for young families seeking a safe, supportive, and family-oriented community. The park offers a range of amenities and services tailored to meet the needs of families with children, creating an environment where both parents and kids can thrive. Brookfield Mobile Home Park is owned and operated by Sam and Jackson Bower, who share the operations responsibilities equally at the 75 unit park. Sam and Jackson have several years of experience in mobile home park management, which led them to open the Brookfield Mobile Home Park in 2001.

Sam and Jackson Bower direct all amenities toward children, having installed a superior climbing structure and play set within a park atmosphere for the children in the community to enjoy. The families who live in Brookfield Mobile Home Park socialize together and often eat meals together on a weekly basis. Over 80% of those who moved in during 2001 are still in residence there.

 

Trenton Mobile Home Park

The Trenton Mobile Home Park was launched in 2011 by Dottie Hamerston, a former mobile home park resident who desired to help the seniors in her community by building a seniors-only park for them. Trenton Mobile Home Park features spacious and meticulously maintained mobile home sites that offer residents the opportunity to personalize their living spaces by gardening in small enclosed backyards and by providing wooden decking for each site. Each site is thoughtfully designed to accommodate the unique needs of senior residents, smoothing walkways and roads, with swimming pools that accommodate disabled residents and by continually assessing senior living accommodations to provide the best living environment for them.

Trenton Mobile Home Park is in an older neighborhood in Trenton, Pennsylvania and the owner recently hired a security team to regularly patrol the community from 11 pm to 7 am. This service was deemed necessary, as seniors have little ability to protect themselves, particularly when living alone. This additional amenity brought new potential homeowners to view empty sites for rent.

 

Competitive Advantage

Riverside Meadows Mobile Home Community will be able to offer the following advantages over their competition:

  • Friendly, knowledgeable, and highly-qualified team of Riverside Meadows Mobile Home Community
  • A clubhouse, recreational areas, playgrounds, walking trails, and community gardens
  • Lush landscaping environment with grass and trees at each mobile home lot
  • Convenient access to highways, public transportation, and shopping centers
  • Comfortable lifestyle for individuals, families, retirees, and seasonal residents
  • Comprehensive menu of services for on-call maintenance and repair service for residents
  • Riverside Meadows Mobile Home Community offers excellent pricing and package pricing for families. Their pricing structure is the most cost effective compared to the competition.

 

Marketing Plan

Brand & Value Proposition

Riverside Meadows Mobile Home Community will offer the unique value proposition to its clientele:

  • Highly-qualified team of skilled employees who are able to provide a comprehensive set of amenities and services for the homeowners
  • A clubhouse, recreational areas, playgrounds, walking trails, and community gardens
  • Lush landscaping environment with grass and trees at each mobile home lot
  • Convenient access to highways, public transportation, and shopping centers
  • Comfortable lifestyle for individuals, families, retirees, and seasonal residents
  • Comprehensive menu of services for on-call maintenance and repair service for residents

 

Promotions Strategy

The promotions strategy for Riverside Meadows Mobile Home Community is as follows:

Word of Mouth/Referrals

Riverside Meadows Mobile Home Community has built up an extensive list of former employee associates and contacts over the years by providing exceptional service and expertise for homeowners and their employers. Those associates have indicated they will refer friends and help spread the word of Riverside Meadows Mobile Home Community.

Professional Associations and Networking

Riverside Meadows Mobile Home Community will join community associations and industry groups to network and spread the word of the new community. They will also engage in the leadership of community groups to give back to the people who live in the area and encourage future homeownership in the mobile home community.

Print Advertising

Riverside Meadows Mobile Home Community will announce their launch via a direct mail piece to every resident in Trenton and those in surrounding communities. An invitation to the launch will be issued, along with an invitation to tour the grounds and community and share in a champagne brunch.

Website/SEO Marketing

Riverside Meadows Mobile Home Community will fully utilize their website. The website will be well organized, informative, and list all the amenities and services that Riverside Meadows Mobile Home Community provides. The website will also list their contact information and list current home sites available for rent. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “mobile home park” or “mobile homes near me”, Riverside Meadows Mobile Home Community will be listed at the top of the search results.

 

Pricing

The pricing of Riverside Meadows Mobile Home Community will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

 

Operations Plan

The following will be the operations plan for Riverside Meadows Mobile Home Community.
Operation Functions:

  • Garrett Harden will be the co-owner and President of the company. He will oversee all staff and manage client relations.
  • Penny Harden will be the co-owner and Vice-President of the company. She will be the Administrative Manager, handling the oversight of paperwork and documents.
  • John Jacobs will be the Property Manager, where he will oversee resident screening, lease agreements, rent collection, and dispute resolution.
  • Tiny Landen will be the Maintenance and Repairs Manager. In this role, he will establish a regular maintenance schedule, including landscaping, infrastructure upkeep, and mobile home inspections.
  • Janine Harris will be the Resident Services Manager, providing responsive customer service, facilitating community events, and addressing residents’ concerns.
  • Art Granger will be the Property Oversight Manager. In his role, he will assist Tiny Landen and ensure compliance with zoning regulations, safety codes, and housing laws.

 

Milestones:

Riverside Meadows Mobile Home Community will have the following milestones completed in the next six months.

  • 5/1/202X – Finalize contract to lease office space
  • 5/15/202X – Finalize personnel contracts for the Riverside Meadows Mobile Home Community
  • 6/1/202X – Finalize contracts for Riverside Meadows Mobile Home Community suppliers
  • 6/15/202X – Begin networking at community and industry events
  • 6/22/202X – Begin moving into Riverside Meadows Mobile Home Community office
  • 7/1/202X – Riverside Meadows Mobile Home Community opens its doors for business

 

Management Team

Riverside Meadows Mobile Home Community will be co-owned and operated by Garrett and Penny Harden. They have recruited John Jacobs to be the Property Manager. They have also recruited Tiny Landen to be the Maintenance and Repairs Manager. Garrett recruited Janine Harris to be the Resident Services Manager and Penny recruited Art Granger to be the Property Oversight Manager.

Garrett holds a bachelor’s degree in Finance from Pennsylvania State University. His former employment at a sizable mobile home park business gave him over twelve years of experience as he took on the role of the Operations Manager. He learned every aspect of operating and deftly handled the resident requests, communications and maintenance needs of all. Penny Harden was employed by the same company, where she held the role of Administrative Manager. She will continue in that role with Art Granger in personnel oversight.

John Jacobs was formerly employed for five years by a small mobile home park as the General Manager. He created a system to successfully integrate new families into the park, while encouraging seniors in the park to engage with the community. This brought new life to the mobile home park, enabling the owners to enlarge the park and expand the amenities. John will take on the role of Property Manager, where he will oversee resident screening, lease agreements, rent collection, and dispute resolution.

Tiny Landen will be the Maintenance and Repairs Manager, having been employed for the past six years as a maintenance supervisor for a homeowner’s association. He will establish a regular maintenance schedule, including landscaping, infrastructure upkeep, and mobile home inspections.

Janine Harris will be the Resident Services Manager, providing responsive customer service, facilitating community events, and addressing residents’ concerns. She was formerly the Resident Advisor for Garrett Harden.

Art Granger will be the Property Oversight Manager. In his role, he will assist Tiny Landen and ensure compliance with zoning regulations, safety codes, and housing laws. Art was recruited by Penny Harden, as he was formerly the Property Assistant Manager and worked with her on a daily basis.

 

Financial Plan

Key Revenue & Costs

The revenue drivers for Riverside Meadows Mobile Home Community are the fees they will charge to the homeowners for their rental and maintenance services.

The cost drivers will be the overhead costs required in order to staff Riverside Meadows Mobile Home Community. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

 

Funding Requirements and Use of Funds

Riverside Meadows Mobile Home Community is seeking $200,000 in debt financing to launch its mobile home community. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

  • Office space build-out: $20,000
  • Office equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

 

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Residents Per Year: 308
  • Average Revenue per Month: $308,000
  • Office Lease per Year: $100,000

 

Financial Projections

Income Statement
FY 1FY 2FY 3FY 4FY 5
Revenues
Total Revenues$360,000$793,728$875,006$964,606$1,063,382
Expenses & Costs
Cost of goods sold$64,800$142,871$157,501$173,629$191,409
Lease$50,000$51,250$52,531$53,845$55,191
Marketing$10,000$8,000$8,000$8,000$8,000
Salaries$157,015$214,030$235,968$247,766$260,155
Initial expenditure$10,000$0$0$0$0
Total Expenses & Costs$291,815$416,151$454,000$483,240$514,754
EBITDA$68,185 $377,577 $421,005 $481,366 $548,628
Depreciation$27,160$27,160 $27,160 $27,160 $27,160
EBIT$41,025 $350,417 $393,845$454,206$521,468
Interest$23,462$20,529 $17,596 $14,664 $11,731
PRETAX INCOME$17,563 $329,888 $376,249 $439,543 $509,737
Net Operating Loss$0$0$0$0$0
Use of Net Operating Loss$0$0$0$0$0
Taxable Income$17,563$329,888$376,249$439,543$509,737
Income Tax Expense$6,147$115,461$131,687$153,840$178,408
NET INCOME$11,416 $214,427 $244,562 $285,703 $331,329
Balance Sheet
FY 1FY 2FY 3FY 4FY 5
ASSETS
Cash$154,257$348,760$573,195$838,550$1,149,286
Accounts receivable$0$0$0$0$0
Inventory$30,000$33,072$36,459$40,192$44,308
Total Current Assets$184,257$381,832$609,654$878,742$1,193,594
Fixed assets$180,950$180,950$180,950$180,950$180,950
Depreciation$27,160$54,320$81,480$108,640 $135,800
Net fixed assets$153,790 $126,630 $99,470 $72,310 $45,150
TOTAL ASSETS$338,047$508,462$709,124$951,052$1,238,744
LIABILITIES & EQUITY
Debt$315,831$270,713$225,594$180,475 $135,356
Accounts payable$10,800$11,906$13,125$14,469 $15,951
Total Liability$326,631 $282,618 $238,719 $194,944 $151,307
Share Capital$0$0$0$0$0
Retained earnings$11,416 $225,843 $470,405 $756,108$1,087,437
Total Equity$11,416$225,843$470,405$756,108$1,087,437
TOTAL LIABILITIES & EQUITY$338,047$508,462$709,124$951,052$1,238,744
Cash Flow Statement
FY 1FY 2FY 3FY 4FY 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)$11,416 $214,427 $244,562 $285,703$331,329
Change in working capital($19,200)($1,966)($2,167)($2,389)($2,634)
Depreciation$27,160 $27,160 $27,160 $27,160 $27,160
Net Cash Flow from Operations$19,376 $239,621 $269,554 $310,473 $355,855
CASH FLOW FROM INVESTMENTS
Investment($180,950)$0$0$0$0
Net Cash Flow from Investments($180,950)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow from Financing$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow$154,257$194,502 $224,436 $265,355$310,736
Cash at Beginning of Period$0$154,257$348,760$573,195$838,550
Cash at End of Period$154,257$348,760$573,195$838,550$1,149,286


Mobile Home Park Business Plan FAQs

A mobile home park business plan is a plan to start and/or grow your mobile home park business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Mobile Home Park business plan using our Mobile Home Park Business Plan Template here.

There are a number of different kinds of mobile home park businesses, some examples include: Retiree or age restricted, Family-friendly, Budget or low cost, Luxury, and Pet-friendly.

Mobile Home Park businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

Starting a mobile home park business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Mobile Home Park Business Plan - The first step in starting a business is to create a detailed mobile home park business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your mobile home park business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your mobile home park business is in compliance with local laws.

3. Register Your Mobile Home Park Business - Once you have chosen a legal structure, the next step is to register your mobile home park business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your mobile home park business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Mobile Home Park Equipment & Supplies - In order to start your mobile home park business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your mobile home park business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful mobile home park business: