Mots golf courses, if not all, have their own ways of generating sustainable sources of income to ensure that they sustain the management as well as run the equipment and facilities of the golf club at their optimal levels. In a dormant or stagnating economy, most golf clubs rely strictly on club revenues to sustain their activities, but there are many alternative ways that the Golf course management team can increase its revenue. These include the following:
- Marketing tactics,
- Customer loyalty programs,
- Club reciprocation programs,
- New membership programs, shared memberships, and upgrade memberships,
- Invitations and referrals,
- Customer loyalty expansions,
- Specialty events, and
- Golf promotion and fitness programs.
Marketing Tactics and Sponsorships
Of all the revenue generating programs used by the golf club management, marketing is the most important channel which they rely on. Large golf courses often go into marketing partnership with other businesses such as wristwatch manufacturers, automobile companies, and large corporations who sponsor their golf events in order to promote their products and services. Sponsorships are very expensive and most golf courses rely on such huge investments to fund their operations.
Customer Loyalty Programs
Customer loyalty programsare ideal ways of encouraging existing customers to invite their friends, colleagues, and the public to subscribe for golf course membership. As you refer new people, you will get an automatic upgrade to your status and this will qualify you for special discounts and points which can be redeemed so you can enjoy more games and play addition rounds of golf at no added charge. Club reciprocation programs are some of the fastest ways of extending the reach of your golf club services, especially for diners and associates. These loyalty programs help you expand your networking opportunities.
New membership, shared membership and upgrade memberships are some of the best long term revenue generating programs that can help the golf club management team expand its financial resources. The new membership program is normally made cheap to entice new members who show an interest in golfing, while at the same time the upgrade membership program is available for current members who want to enjoy more facilities and special discounts. Shared memberships are available for families of existing golf club members who want to take advantage of the membership to include their spouses, children, uncles, brothers, or any other relative.
Invitations and referrals help golf club managers get more people to register for golfing lessons and in so doing, they pay a registration fee. Referrals don’t have to become members of the club. However, they can use the facilities of the golf course to learn or play competitions. Specialty events also provide an opportunity for Golf course managers to organize seminars and coaching classes to interested participants, which can generate continuous streams of income when such events are hosted constantly. Lie events, Golf promotion, and fitness programs may involve the sales of golf products to the public as well as fitness programs in order to support their physical well-being. These are opportunities for raising more funds for the sustenance and overall growth of the golf course.