Running a golf clubs is no longer funny, especially in terms of finances. The economic environment in many sectors is being continually challenged in a way that requires smartness to be successful. Golf as an important sport in Australia is also not left out of the flow of things. It takes more than the initial investment to run a successful golf club business. In addition, when you consider the uncertainties that COVID-19 brought and the fact that there is no assurance of what life after would be.
Furthermore, 2020 maybe a year to forget as coronavirus practically brought the world to a standstill. Many activities could not proceed as usual. In addition, in the New Year, many business owners started to get back on their feet and most, if not all, are yet to reach the height they were before the pandemic struck. This article discusses some critical opportunities for golf shop owners to rake in more revenue to explore a way out for pro golf businesses.
Golf still has the potential to make good returns
The potential that the game of golf holds is excellent, and business owners can explore this opportunity. However, the pressure out there is accurate in every way we can think of it. Already, the green fee has dropped in recent years, and many already feared if golf would survive the sudden changes. Conversely, there are many ways to revive the game with its financial power. One way is to encourage more visiting golfers through the provision of strategies to retain them.
As a marketing initiative, lowering the prices is not an excellent choice to make all the time. Instead, the business owner’s focus to grow the finance is by providing more value and rewards for their money. And by the time the prices eventually go up, the club users won’t hesitate to pay a little more. Amidst other factors, it is a proven fact that golf can rise once again in the right direction. The next thing will be to re-strategize how the club cab wins more customers. Click here to learn more about golf.
Revenue from Clubhouse
The golf club’s first-place could make more money from the clubhouse where all registered club members come. Firstly, there is a category of golfers who would regularly patronize a clubhouse. That is the older generation of golfers. For instance, golfers and registered club members in their 50s would like to come to the lodge more often. But there is more from the statistics gathered over the past decade.
About 50% of golf club members and 37% of non-club golfers still visit the clubhouse after one round. Moreover, many factors may be responsible for this thought. One, the time it takes to make it back to the lodge, and another is the dress code requirement amid others. Therefore, many more people will not only register with clubs if these factors are dealt with. And invariably, it creates an opportunity for the clubhouse to make more money.
Revenue from Visitor Green Fee
As it stands, golf clubs rake in some level of income from visitors who pay green fees before they can use the golf course. This charged amount could vary from one system to another or from one country to another. A survey reported that over 63% of non-golfers and over 50% of registered club members spend more on green fees. On the other hand, 43% of registered club members and 36% of non-club members spend more on food and beverages.
This analysis shows that golf clubs can make more revenue from green fees if more customers are satisfied with the amount they pay. Furthermore, 21% of the non-club members who paid actually play more minor, which indicates a lower green fee for golf clubs. However, when you compare the amount that each of the non-club members and registered club members pays, you can see the potential amount the golf club could be made with a slight change.
Revenue from Traveling to Play Golf
Statistics have often shown that more club golfers (about 54%) than non-club golfers are willing to travel longer than one hour to play golf. When you compare the number of club golfers and non-club golfer willing to travel for longer than 3 hours, you will find the former outnumbering the former category. The discrepancies may be due to travel costs, demands from home, family, work, and other necessities to attend to.
However, how does it bring more revenue for the golf club? Suppose golf clubs can target more local golfers to patronize. In that case, it creates more opportunities for an assured subscription and payment. The only part left is to ensure that these visitors return to the clubhouse often and that more golfers can join the bandwagon of potential members. At the same time, the nature of the traveling conditions may even be an additional reason why people will join your club.
Other accessibility fees
Apart from the main cost of green fees, acquiring golf equipment, club membership registration fees, other accessibility fees can make more profit. For instance, these accessibility fees can be better arranged for extra amenities that the company should provide. As the business grows, you must not forget that the center of focus of all attention is the customers. Therefore, whatever can satisfy the customers should be done.
You can also invest in offering golf lessons to golfers or find some other attractions to entice potential customers. How about setting up additional features on the golf course as side attractions. For instance, a pro golf course could have a bar, a restaurant, a gymnasium, a swimming pool, and other exciting features that will add more money to the clubhouse.
The article showed some of the most unique opportunities for pro golf shop owners to rake in many resources. Besides, the technical purpose of starting the company in the first place is to meet the demand of golfers. And to continue to do that, you need to sustain the business. And the way to nurture eh business continually is to continue to generate more revenue from it.