The recession, coupled with the saturated nature of the golfing market, has made it more important than ever for golf business owners to invest a little in their company. Expansion is one fantastic way of rejuvenating your golfing business – but how can you attract new clientele and keep existing members happy?

Enticing new members

One of the best ways to entice new clientele to your golfing business and continue building relationships with existing members is to invest in what you’re able to offer them. While loyal members may continue to use your course, you will unfortunately never attract new golfers if you’re not able to provide something a little bit special. Celtic Manor Resort in Newport, for example, offers so much more than golf; the resort is home to a spa and fitness centre, dining facilities, conference and wedding services, and activities such as fishing, swimming and laser combat.

Celtic Manor

Celtic Manor

So many of the UK’s other great golf courses are following suit – if you want to really invest in your clientele, consider the new services and facilities you could offer. Perhaps you could branch into family dining, expand your business to include a spa or gym, or create an outdoor activity centre. Even freshening your existing space will be considered an improvement and will soon draw new clients through your doors. Expanding doesn’t need to include building work either, as you could simply reorganize your services; could you offer themed evenings, family events, or cater for special occasions or corporate events? Capitalising on the winter market and providing cold winter sports is another fantastic idea currently being explored by other courses.

Your thirst for expansion should obviously extend outside. While the clubhouse is where most members will spend their money and their time to relax after a long game, it is out on the green where your club should really stand out. Keep lawns well manicured and consider restructuring your grounds if the current layout isn’t working. It won’t be cheap, but attracting new clients and investors is never without its risks or expenditure.

Investments and enterprises

Of course, brand new facilities, special events, and luxury never pay for themselves, and so it is absolutely vital to think about the ways in which your business expansion will be funded. Are you going to head down the route of fundraising, charging more for your services, or choosing an investor? Not every option will be right for you. It would be easy enough to increase fees, for example, although those types of choices are seldom popular with clientele; unless you are offering something truly spectacular, you probably won’t find a queue of customers excited to pay more than they already do. If you’re considering this option, remember to stay as competitive as possible. What are other local courses offering, and for how much?

Another way to fund your golfing business’s expansion is to look to your bank for a loan. However, this course of action comes with its own risks, and it is essential to have a chat with your bank manager and to familiarise yourself with the terms and conditions before you agree to any borrowing. Investment, particularly foreign investment, and developing a financial partnership are two of the most popular ways for businesses to improve and expand, and they often come with the added bonus of professional advice. Take Charterhouse Capital Partners; this leading private equity firm specialises in providing European businesses with sound, professional advice and investment. Charterhouse Capital Partners, a current partner of the company, is just one of the team who is always on hand, and he has vast experience of investing in businesses across every sector. Is this the sort of financial guidance that you can ignore?

Despite the recession and the saturation of the golfing market, there is still a profit to be made from the green. In order to make your business work, though, it is essential to conduct your research, find ways in which to be different, and carefully consider all of your financial options. Expansion is always a risk, and a costly one at that; with the right plans in place, though, you may well see your golfing business begin to flourish.

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