Have you ever wanted to buy a golf course? Well, you can! Peter Kapiloff, Owner of Waubeeka Golf Links, shares tips on golf course ownership in his all-in-one step-by-step guide to buying a golf course.
Establish a Game Plan for Golf Course Ownership
So you’ve decided that you want to purchase a golf course. That’s an exciting decision for sure! But it’s only the first decision you make in the purchasing process — there are many others to be made! Owning a golf course is about more than just your favorite sport: it’s a full business process. Going into this, you will want to establish a grasp of the full business landscape, including conducting market research on industry trends, local demographics and even golfer preferences in your geographic area.
Peter Kapiloff recommends that you make your first research stop at The National Golf Foundation, which provides the full scope of golfer demographics and trends. Leveraging this data early on can be pivotal in the success of your golf course business.
Scope Out and Select a Course
This is when you should get selective. While many pretty golf courses may shine out of the corner of your eye, it’s important to be strategic during this selection process. Consider factors like location, local competition, weather patterns and accessibility — all of which can heavily impact the success of your golf course business. At this stage, as you develop your business blueprint, you will want to factor in the financials: what’s your budget? What will the expected costs include? Take these matters into consideration when selecting your course for purchase.
Establish a Trustworthy Business
So you’ve purchased your first golf course: congratulations! Before you build out that 19th hole experience, it’s important to focus on building a trusting relationship with your customer base — possibly even before you cut that ribbon and welcome in your golfing community.
Stay tuned for more on how to run a successful golf course business with advice from Peter Kapiloff, Owner of Waubeeka Golf Links — coming up next in Kapiloff’s blog series!