Camping World is the largest RV dealer in the U.S., operating 196 dealership locations under the Camping World brand, alongside the Good Sam membership and services brand. The company sells new and used RVs — which together account for roughly 74% of revenue — sourced primarily from Thor Industries and Forest River, plus an expanding portfolio of exclusively branded, contract-manufactured units developed in-house. Camping World's business model is built around the full RV ownership lifecycle: customers enter the ecosystem through a vehicle purchase, and the company then earns recurring revenue through finance and insurance (F&I) commissions at point of sale, Good Sam membership and protection products, ongoing service and parts visits, and eventual trade-ins. F&I, which carries 100% gross margins, scales directly with unit volume. The Good Sam segment sells extended service contracts, roadside assistance, insurance, and campground memberships, generating recurring, high-margin revenue largely independent of near-term RV sales. The company's ~2,800 service bays nationally also support a parts, accessories, and repair business. Used RVs are a strategic priority — margins are higher than new, and the used market is roughly twice the size by unit count. The contract manufacturing program is central to Camping World's new vehicle strategy, allowing the company to offer exclusive floor plans unavailable at competing dealers. The business is highly seasonal, with roughly 58% of revenue generated in Q2 and Q3.