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Old 10-08-2016, 07:08 AM   #1
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Camping World IPO - Buyer Beware

Camping World just raised over $250 million by doing an IPO.

Camping World raises $251 million in IPO

There are many stories on this forum about the Company's service and business practices. This company has been fixated on generating short term profits even at the expense of damaging their reputation and long-term future outlook.

https://www.sec.gov/Archives/edgar/d...228158zs-1.htm

From a financial perspective, these short term profits increased the stock price for the IPO and allowed the owners to cash out at a higher price.

The culture, business practices, integrity and values of any organization are established by the Company's leadership who are normally accountable to a Board of Directors. This corporate governance doesn't seem to apply to Camping World.

http://www.chicagobusiness.com/artic...he-profits-ipo

I will not be buying any Camping World stock even though I bought a diesel pusher motor home from this company three years ago. In fact, I may look into shorting their stock.

The Basics Of Short Selling | Investopedia

Hopefully another nationwide camping store will ultimately emerge, and that this future competitor will have taken a different path with regards to business practices and culture.
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Old 10-08-2016, 10:27 AM   #2
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Not many people happy with the service and support they get from Bass Pro Shops for their boats either. Same principal. Nationwide box store service for big ticket items is never going to be easy to pull off. I remember when K-mart was selling K-cars but would never have dreamed of using them for purchase or service, instead I use a dealer I trust and a repair shop I trust. Camping world is convenient for picking up stuff you may not find available in other stores though and I still go there for those things once in a while.
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Old 10-08-2016, 12:25 PM   #3
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We have been very happy with the service we receive at the Freightliner shops. They always survey us the day after we pick up the coach. You can tell that the tone at the top of their company places a high priority on customer service. They are not cheap but they are honest, timely and technically competent. It is refreshing and I am always willing to pay for good timely service.
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Old 10-08-2016, 01:12 PM   #4
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I'm not a big fan of CW but they may be a good stock play. They do sell a lot of stuff, and seem to know how to make profits. I don't smoke but have stock in companies that make the stuff.
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Old 10-08-2016, 10:33 PM   #5
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If you listened to what Marcus said, they don't make very much money on RV's, he actually said he hates RV's, because he makes all his money on service, warranty sales and store sales. So buy the RV from him and have it serviced someplace else!
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Old 10-09-2016, 02:38 AM   #6
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So why does he sell them?
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Old 10-09-2016, 08:08 AM   #7
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Because he has to have a customer base.
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Old 10-09-2016, 08:15 AM   #8
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Quote:
Originally Posted by Larryg17 View Post
If you listened to what Marcus said, they don't make very much money on RV's, he actually said he hates RV's, because he makes all his money on service, warranty sales(Money guarantied from the manufacture) and store sales. So buy the RV from him and have it serviced someplace else!
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So why does he sell them?
He sells them to obtain the 3 items above.........
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Old 10-09-2016, 12:32 PM   #9
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One of the reasons we bought our motorhome from Camping World was because they stated that they had service locations located throughout the USA. We found out how hollow this promise was five months after we purchased the motorhome. The lock to our motorhome's entrance door broke at Hoover Dam. We couldn't get in or out of the motorhome without crawling through the emergency window. We drove the motorhome to the nearest Camping World location in Vegas and pleaded for help to escape the motorhome. We pulled right up to the repair shop's entrance door. We called them again and they still refused to send a repair man out to help us get out of the motorhome. They said that they had a mandatory two week waiting period before they accepted any more service jobs. We told them repeatedly that we had just purchased the $145,000 motorhome from their company. It didn't matter and their repair shop never helped us. Talk about poor customer service. All this happened on a day with a temp of 110 degrees.

I unfortunately have more stories similar to this one.
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Old 10-18-2016, 04:40 PM   #10
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He sells them to obtain the 3 items above.........
Exactly, that was a rhetorical question.

If he doesn't seriously address his inept service department he will be covering warranty service performed elsewhere. Maybe thats the point?
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Old 10-19-2016, 07:56 PM   #11
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I bought from CW because I received $125,000 discount. I go elsewhere for service.
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Old 10-19-2016, 10:07 PM   #12
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Happy camper. If something happens as serious as your door problem, I would call the manufacturer direct. They would more than likely have you call a Mobil repair co. To fix your problem.
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Old 10-23-2016, 04:43 PM   #13
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I hope to retire in a few years and about a year ago started doing research on RV's (5th wheels and Class A motorhomes). I quickly discovered from multiple forums to avoid purchasing from Camping World. I do enjoy visiting their stores though and when I do I casually observe their sales department. It reminds of large domestic car dealerships with it set up to keep people from just browsing without being with a salesperson, the "tower" where the managers control the sales process, etc.

The only way I would ever buy from CW is if the price was unbeatable (which so far I have never seen) and if I had zero expectation of getting decent service work out of them.

After my year of research I have pretty much resigned myself that I must do a very thorough PDI when I buy and then expect to make a trip to one of the manufacturer's service centers to get any warranty work done. Will just have to pray whatever the issue is it isn't something that strands me somewhere.

If so many RV dealers have their shops booked up months in advance if they had any sense they would make the capital investment to expand those shops.
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Old 10-23-2016, 05:45 PM   #14
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Had the exact same problem a couple of weeks ago on a Sunday. Called Thor Tech and he guided step by step in removing the regular latch handle. Used dead bolt the rest of the trip. Thor sent a new door latch mechanism directly to our home and it was fixed in about 10 minutes.

Thor is really good about sending parts direct without having it confirmed or installed by CW--not worth the wait.
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