There are numerous businesses related to golf. The type of golf-related business that you decide to create will depend on your interests and budget.
5 Steps To Start A Successful Golf Business
Step: 1 Study the demand for a golf-related product or service in your area, including the demographics, target market and the competition. If there are no golf-related businesses in the area, this could mean that there is no demand or that the demand is not apparent to the untrained eye. Market research can be complicated and usually requires hiring a company specializing in surveys and focus group discussions to establish the need for a product or service. A step you can take on your own is to search for similar businesses. If you want to open a golf course, find businesses selling golf products. If they are plenty, this indicates that the demand for golf-related products is high. You can also visit local sport stores and see what percentage of the sports items are golf-related. If there is only have a shelf for it (and four shelves for soccer or baseball) it may mean the demand for golf equipment is not high.
Step: 2 Decide what type of golf business you are interested in, i.e., selling and supplying golf carts, a golf shop, golf artificial turf provider or golf course owner. Depending on which business you choose, you will need to create a business plan, budget and target market. If you have experience in the area, you can do this yourself. If you don’t have the skills to do this on your own, join the National Golf Foundation so you can take advantage of its facility consulting and advisory services or be paired with a mentor who will help you through the initial steps.
Step: 3 Consider a franchise. The two largest golf franchises in the United States are Golf USA (retail sales of golf products) and Golf Greens (distribution of artificial golfing turf). The parent company will help you with market analysis, site location assistance, advertising and marketing, equipment and software, and training. If you’re new to the business world, this could make things easier.
Step: 4 Look for an appropriate venue or location. If you’re planning on opening a driving range, for example, you will need a few acres of land in an area that is easily accessible, clean and safe. Golfers are attracted to a particular golf course not only because of the course but also the surroundings, views and even entertainment options in the area.
Step: 5 Contact vendors and suppliers to stock or build up your business. Aside from joining golf-related organizations, you should make a list of golf-related businesses and companies in your area with which to partner. For example, a pro shop may be interested in providing equipment for your course at a discount. In working with local companies, you can inspect their work or product quality first hand. The National Golf Foundation offers a business directory where you can find companies organized by area, specialty or geographical location.
Tips & Warnings
Having a passion or even a high level of skill at playing golf is not enough to be a successful golf business owner. Those things may help, but are not as important as having basic business skills.