how to sell a private golf course

5 Tips to Sell a Golf Course.

• 1. Plan an Exit Strategy. One of the first steps to selling a golf course is deciding how you will exit the business. To get started with your exit ...
• 2. Prepare Your Paperwork.
• 3. Acquire a Professional Valuation.
• 4. Prepare Your Golf Course.
• 5. Contact a Business Broker and List Your Golf Course for Sale.

Full Answer

Do private golf clubs offer property tours?

While the most elite private clubs with full rosters typically only extend memberships through invitation, the vast majority of them will offer property tours and include a round of golf to those expressing genuine interest. Some destination clubs sell weekend packages that include accommodations, club access and a round of golf or two.

Are golf retailers obligated to give trade-in values?

Payment is QUICK! Are golf retailers obligated to give the used golf club Trade-In Values found on other websites? No. But 2nd Swing Golf consistently offers the highest trade-in values for used golf clubs.

Do golf clubs have a market value?

Not every golf club model can be given a market value and these items are typically: rare items, antique items, special or tour issue items and other very high-ticket items. If items are extremely old or damaged, they are also not assigned a market value.

Can a non-member play in a private golf club?

There are quite a few private clubs around the U.S. that have a hotel or resort component onsite and permit non-member play from guests of the hotel. Then there are some even lesser-known partnerships where the hotel isn't even on location or under the same ownership, but a small number of tee times are reserved.

How do you value a golf course?

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.

Is it profitable to own a golf course?

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.

How much money can you make owning a golf course?

Golf Course Owners make between $30,000 to several hundred thousand dollars per year. However, golf course owners sometimes will lose money if the course has a bad year. Overall, the golf course industry is very volatile, and there is no guarantee that money will be made.

Is buying a house on a golf course a good investment?

Golf course properties typically have great resale value, selling at two to three times that of an average home – which is a magnet for investors.

How do golf courses make money?

Ways To Raise Money For Your Golf Course. 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.

What is the most profitable business?

Here's our list of the most profitable small businesses:Food trucks. ... Car wash services. ... Auto repair. ... Personal trainers. ... Newborn and post-pregnancy services.

How many acres do you need for a golf course?

“This means an 18-hole course of all short par 3s could be built on as little as 30 acres, while an intermediate length or executive course of 18 holes of par 3s and 4s would require 75-100 acres, and a full size par 72 course would need 120-200 acres.

How can I make my golf course successful?

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...•

How many gallons of water do golf courses use?

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.

How noisy is living on a golf course?

Noise Levels Noise won't be an issue after the sun sets if the course doesn't have lights, which can lead to a peaceful evening on your patio. However, courses can get very noisy during the daylight hours. The immaculate course conditions take a lot of work, and course prep starts early to beat the golfers.

Is it bad to live next to a golf course?

If you have a bedroom that faces out to the course, it's likely your sleep could be interrupted by noise and headlights of the grounds crew. Also, many golf courses receive a regular dousing of pesticides and fertilizer. Depending on the products used, runoff may be toxic for people and pets.

Is it more expensive to live on a golf course?

Research as far back as the 1990s has suggested that the presence of a golf course increased nearby home values by 7.6%. More recent studies indicate that the value decreases significantly as the distance between the home and the golf course increases.

What are some of the methods buyers and sellers employ to complete a transaction?

Some transactions require creativity. If bank financing isn’t available, other means may be necessary. Installment sales, private equity and participation are just some of the methods buyers and sellers employ to complete a transaction. Every seller’s situation is different.

Is timing important in golf?

Always a big part of any transaction, timing is of considerable significance given the seasonal nature of most golf operations, the considerable amount of due diligence necessary on the buyer’s part and maybe most importantly the objectives of buyer and seller.

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How long does it take to evaluate a private club?

Typically 2 – 6 months in evaluation stage for average private club (more for beginners and expensive clubs) – sales processes aren’t set up for this!

What is aggregate golf?

Aggregate (based on state level averages) – all factors, calculate total number of golfers, play frequency, estimated total rounds up for grabs.

Pricing

We’ve observed that unrealistically high pricing is the quickest way to have a golf property sit on the market forever. Most buyers are economic buyers and with the plethora of golf properties on the market, those that are grossly over-priced are passed over for better opportunities.

Records

Many daily fee golf courses are family run, “cash businesses”. As such, it is not uncommon for financial records to be less than accurate. If all the revenues can’t be accounted for, as the seller you won’t be credited for them when you sell the property. Nobody will pay you for a “wink of the eye” and the potential that you haven’t realized.

Documents

Make it easy for your buyer to do their due diligence. It will save both of you time and money. Have and make available to your broker everything they need to ensure that a transaction evolves smoothly.

Golf Courses For Sale is a place to Buy and Sell Golf Courses, Golf Related Businesses, and Golf Course Real Estate. Individual Sellers and Brokers can post openly or confidentially

Golf Courses For Sale is a service from the golf course business consulting team of *Michael Kahn (Golfmak, Inc.) and William McIntosh (Golf Specialists, Inc.), with combined experience in golf of over 100-years.

Why Post Your Property With Us?

Golf Courses For Sale is not a brokerage. It is a much needed service designed to bring buyers and sellers of golf courses, or golf related businesses together in one place. When you post your golf related property or business on Golf Courses For Sale, you get:

How To Post Your Property

Follow this link to complete a simple form. Complete as much or little as you feel necessary to attract a buyer-prospect. There, you can chose a payment plan that works for you plus any extras*.

What is a private golf club storyline?

It seems there's an opportunity to begin a new narrative in private golf club marketing. A storyline that communicates what makes golf a wonderful game for all ages; the game of a lifetime.

Is closing golf courses a good thing?

The closing of some golf courses is a good thing, some will whisper. After all, they say, the game is coming back to "center", the way it was. And still, there is a lot that private golf clubs can do to help themselves get ahead of the pack. In today's marketplace, the old tactics that used to work for clubs are just not going to cut anymore.

How to sell golf memberships?

If you want to sell more golf memberships you’ve got to narrowly define your audience, tell a great brand story, address their need or problem, and use the right tactics. I’ll break down each for you.

How to find prospects for your club?

Direct mail and the USPS’s Every Door Direct Mail Program is another effective and inexpensive way to find potential prospects for your club.

How to solve a club challenge?

Figure out their challenges and show why your club is uniquely positioned to solve them. What amenities or activities do you have that can solve them. Present those on your social media, eBlasts and other advertising channels.

How to get new members to join a club?

Start a referral program. Your members are your best source of new memberships. Find unique ways to reward them for inviting their friends to the club. Money isn’t a great motivator by the way. Try something unique, like a trip to a tournament or a behind the scenes tour.

What is the goal of telling the story of a club?

Of course, we’re in the comedy business 🙂 Your goal in telling the story of your club is to be the “guide” and to give your prospect “a plan”.

Do all good brands get more exclusive and expensive over time?

All good brands get more exclusive and expensive over time. That should be the goal of your golf membership marketing.

Does everyone in golf have a marketing mindset?

It got me thinking… not everyone in a golf club has a marketing mindset or understanding of the basic principles of golf marketing. So I decided to sit down and write some fundamentals that you MUST practice in order to help you sell more golf memberships. Here is the answer I wrote:

What are private golf clubs?

Private clubs are a very philanthropic place and elite clubs know that the general public will pay a pretty nice premium for a tee time. Rather than fill their coffers with guest fees, they will post foursomes to auctions like the ForeBatten Foundation, Rounds 4 Research, Youth on Course, or Member for a Day (among many others) and donate the proceeds to the cause. Local Golf Advisor Bryan Tweed reports having 26 rounds of golf at private clubs on the books through 2022, including Bellerive and Olympia Fields, won at auction from many different sources including his local and state golf associations.

How to connect with golfers?

If you like to post about your golf passion, whether it's on Twitter, Instagram or golf-focused apps or message boards, eventually someone will engage with what you're posting and connections will be made.

How many golf courses has Tucker played?

To date, his golf travels have taken him to over two dozen countries and nearly 600 golf courses worldwide. While he's played some of the most prestigious courses in the world, Tucker's favorite way to play the game is on a great muni in under three hours.

How many rounds of golf are there in 2022?

Local Golf Advisor Bryan Tweed reports having 26 rounds of golf at private clubs on the books through 2022, including Bellerive and Olympia Fields, won at auction from many different sources including his local and state golf associations.

What is the best selling tool for new members?

Membership directors know that the best selling tool for new members is the golf course itself. While the most elite private clubs with full rosters typically only extend memberships through invitation, the vast majority of them will offer property tours and include a round of golf to those expressing genuine interest.

What can help keep a private club afloat?

Finally, a steady schedule of outings can help keep a private club's finances afloat. Some of the better-connected local charities near you probably host benefit tournaments - mostly fun and lightly competitive - at one of the nicer private clubs in the region. The National Kidney Foundation has an impressive list of outings this year, from the Cassique Course at Kiawah Island in June to Winged Foot in October.

Where is the 10th hole of Hazeltine National Golf Course?

A view from the 10th hole of Hazeltine National Golf Course on October 8, 2018 in Chaska, Minnesota. Gary Kellner/PGA. Membership directors know that the best selling tool for new members is the golf course itself.