A golf course is just like any other business that you may run. It has to offer a product or a service that people want. Be affordable and desirable for a large number of people and have a recurring income model with multiple streams of income in order to become profitable. With all of these components in mind, golf operations are a major component to your course’s success or failure.
The first thing that you need to do is build a staff of people who are knowledgeable and dedicated to your business. These people should be hired and managed by your human resources department. They should make sure that you have honest people, people who know different terms, can talk professionally to guests and more. As you build your business those who are taken in and let go by the human resources department will determine the path your business will take.
Financial and Accounting
Once you have your people in place, the next thing that you will need to do is keep track of the money. You need to know how much you start with every day, what is coming in and what is going out. You need to know what is making you money, what is breaking you even and what is losing you money. Once you start to understand how the money flows and where it is generated, then you can do things to improve your income streams.
Another way that you can generate a profitable course is to have merchandising. With merchandising you can get name brand products associated with golf and golfing into your clubs. People will want to own these items because they see the perceived value. These items will be secondary thoughts and income streams for your business which can really skyrocket your ability to create a profitable business.