Lazydays Holdings Inc (GORV)

History and Background

Lazydays Holdings, Inc. was founded in 1976 in Seffner, Florida. Initially a single dealership, it has grown through acquisitions and organic expansion to become a major player in the RV industry, offering sales, service, and finance.

Core Business Areas

• RV Sales: Sells new and pre-owned recreational vehicles (RVs), including motorhomes, travel trailers, fifth wheels, and other towables.
• RV Service and Parts: Provides RV maintenance, repair services, and sells RV parts and accessories.
• RV Finance and Insurance: Offers financing and insurance products to RV purchasers.

Leadership and Structure

John North is the CEO. The company operates with a functional organizational structure, with departments for sales, service, finance, marketing, and administration.

Key Offerings

• New RV Sales: Sells new RVs from various manufacturers. Market share data is fragmented across manufacturers and dealerships. Competitors include Camping World, RV Retailer, and local dealerships.
• Used RV Sales: Sells pre-owned RVs. Market share data is fragmented across manufacturers and dealerships. Competitors include Camping World, RV Retailer, and local dealerships.
• Service and Parts: Provides RV repair and maintenance services. Revenue from service and parts contributes significantly to overall profitability. Competitors include Camping World, local RV repair shops, and mobile RV technicians.

Industry Overview

The RV industry experiences cyclical trends influenced by economic conditions, fuel prices, and consumer confidence. Demand is driven by an aging population and increased interest in outdoor recreation.

Positioning

Lazydays positions itself as a premium RV retailer offering a wide selection of RVs, superior customer service, and comprehensive service and parts offerings. It competes on breadth of selection and service quality.

Total Addressable Market (TAM)

The total RV market size is estimated to be billions of dollars annually. Lazydays is positioned to capture a significant portion through its dealership network and service offerings.

Key Competitors

• CWH
• RVR
• GDRV

Competitive Landscape

Lazydays competes with other large RV retailers and smaller regional dealerships. Its competitive advantage lies in its brand recognition, wide selection, and customer service.

Bucars RV Centre

• Year: 2023
• Acquisition Price (USD millions):
• Strategic Rationale: Expansion into the Canadian market

Historical Growth: Historical growth has been driven by acquisitions and expansion of dealership network. The growth is influenced by the seasonality nature of RV sales

Future Projections: Analyst projections anticipate continued growth contingent on economic conditions and industry trends.

Recent Initiatives: Recent initiatives may include expansion into new markets and focus on improving customer experience and profitability.

Lazydays is a prominent RV retailer with a recognizable brand and extensive service offerings. While its performance is susceptible to economic cycles and seasonality, it benefits from a strategic focus on customer experience and expanding market reach. The company's strong brand and established dealer network provide a solid foundation, while potential economic downturns and changing consumer preferences pose challenges. Overall, Lazydays exhibits a mix of strengths and weaknesses in a cyclical industry.

Data Sources:

• Company filings
• Analyst reports
• Industry publications
• Financial news sources

Disclaimers:

This analysis is for informational purposes only and does not constitute investment advice. Market conditions are subject to change. Consult a financial professional before making any investment decisions.