There are roughly 24 million golfers and 15,000 courses. The game employs about two million people and pays out $55.6 billion in annual wage income. From the richly compensated executives at golf's leading associations to the minimum-wage workers who keep America's courses in playing shape, we offer a peek into the paychecks of people in golf.
But it also reflects the fact that running a golf course is expensive. According to the National Golf Foundation’s 2010 Operating & Financial Performance Profiles of 18-hole golf facilities in the U.S., private 18-hole golf clubs had average total revenue of $3,277,000 in 2009, but with total expenses of $3,204,500. Driving Ranges
How much does a golf course starter make? Not a lot - between $23k and $38k a year typically in most places. But you don’t usually take that job for the money, you take it for the free golf and access to all things at that course. Why is so much business done on the golf course?
But some courses manage to be profitable Not through the golf business, but through the golf cart business. These gas or electric carts go for about $2-$3K on the used market. One in this condition would be on the upper end of that scale. They don’t often hit the open mark as they are usually just sold between golf course owners.
Profitable golf courses are generally selling for six to eight times EBITDA, while courses that aren't profitable tend to sell at 0.8 to 1.4 times revenue.
According to the National Golf Foundation's 2010 Operating & Financial Performance Profiles of 18-hole golf facilities in the U.S., private 18-hole golf clubs had average total revenue of $3,277,000 in 2009, but with total expenses of $3,204,500.
After all expenses, the best golf retailers rarely profit more than 2-3% of the total cost of a club. However, as a whole, we can say that around 33.33% of the cost of a golf club is the markup from the retailer.
How to Make Money Playing GolfGet a Job as a Golf Pro. If you generally enjoy the game of golf and think you could handle a career in the industry, becoming a golf pro is a great choice. ... Play in Golf Tournaments. ... Place Friendly Bets with Your Friends. ... Become a Mystery Shopper. ... Get Sponsorships/Become an Influencer.
The most common income streams are green fees, membership fees, pro shop sales, and food and beverage sales. While increasing membership fees or green fees might seem like a good way to increase revenue, it might put off more golfers than the additional income earned.
Why is golf so expensive? Golf is costly due to the high cost of quality golf clubs, accessories, course fees, memberships, and the amount of golf that is played. Golf clubs are made from quality materials meant to last a lifetime, and courses often require membership, the cost of which reflects the club's exclusivity.
What Does a Golf ETC Franchise Cost? To buy a franchise with Golf ETC, you'll need to have at least $50,000 in liquid capital. Franchisees can expect to make a total investment of $324,500 - $470,500.
The actual construction time for a golf course from ground -breaking to opening can be from one to two years, depending on the weather and amount of equipment used. But today it often takes an additional one to two years to obtain all of the permits and required approvals before construction can begin.
In California, an average 18-hole golf course sprawls over 110 to 115 acres and conservatively uses almost 90 million gallons of water per year, enough to fill 136 Olympic-size swimming pools, said Mike Huck, a water management consultant who works with golf courses statewide.
Most people who need new golf clubs spend hundreds if not thousands of dollars on clubs that don't fit them. They shy away from making their own because they believe it's too much of a challenge. The fact is, you can make clubs that fit you perfectly and cost far less than you will pay for clubs off the rack.
Offer Online Tee Time Booking. Online tee time booking is more important than ever. ... Look at Third-Party Booking Outlets. ... Offer Varying Golf Course Membership Options. ... Add a Loyalty Program. ... Use POS Reporting and Analytics. ... Automate Ordering and Inventory. ... Host Golf Events and Contests. ... Add Time-Based Discounts.More items...•
Strategies to Boost Revenue at Your Course This SeasonSell packages.Custom memberships.A well-designed loyalty rewards program.Branded merchandise.Sponsorships.Add an eCommerce page to your website.Open up an online booking channel.Upselling and cross-selling.More items...
Strategies to Boost Revenue at Your Course This SeasonSell packages.Custom memberships.A well-designed loyalty rewards program.Branded merchandise.Sponsorships.Add an eCommerce page to your website.Open up an online booking channel.Upselling and cross-selling.More items...•
When asked how much they feel comfortable spending on new golf balls, the most common range was $30-$40. Of those who responded, 38.9% said $30, while 37.4% said $40. The smallest percentage was for $50 and above, which was 11%. The answer regarding the most golfers have ever spent on a single club was a toss up too.
The actual construction time for a golf course from ground -breaking to opening can be from one to two years, depending on the weather and amount of equipment used. But today it often takes an additional one to two years to obtain all of the permits and required approvals before construction can begin.
As with most property types, golf courses can be valued via the income approach, sales approach, or cost approach. Each method has its limitations. Given the specialized nature of golf course properties, the application of the comparable sales approach is preferred.