TripleF
Member
I just joined an area country club that had a deal that just seems unbelievable!
First, the course is a very good local course that has a good history. In the 1980s it was the location for the ACC golf championship for a number of years. For several years the course just about went under, changed ownership numerous times, etc. But over the last two yours the new owners have really brought the course back to very, very nice condition.
Here was the deal: pay $59 annually for 3 years up-front. Cart rentals are $12 per 18 holes. If I walk . . . no charge. I understand they have signed up about 600 new members.
I signed up . . . but now I'm wondering how they can make any money doing this.
No way they can pay maintenance staff, pro, chemicals, taxes, etc. and still make a profit!
Is this just some sort of "last gasp" effort? Or am I missing something?
First, the course is a very good local course that has a good history. In the 1980s it was the location for the ACC golf championship for a number of years. For several years the course just about went under, changed ownership numerous times, etc. But over the last two yours the new owners have really brought the course back to very, very nice condition.
Here was the deal: pay $59 annually for 3 years up-front. Cart rentals are $12 per 18 holes. If I walk . . . no charge. I understand they have signed up about 600 new members.
I signed up . . . but now I'm wondering how they can make any money doing this.
- These dues yield $35,400 annually.
- I'm not sure what they would make from a cart rental after lease costs and gas but guessing maybe 1/2 of the $12 fee and probably 85% will rent a cart and optimistically will play weekly. That would provide $159,120 revenue.
No way they can pay maintenance staff, pro, chemicals, taxes, etc. and still make a profit!
Is this just some sort of "last gasp" effort? Or am I missing something?