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Paraphrasing the bible, “What developer who wants to build a golf course doesn't first determine the cost”. Think of that, 2000 years ago, before there was a golf course, the writer of that quote had it right. Even the golf industry before 1988 did not consider the economics of golf course development as very important. But around that time we were asked, by the National Golf Foundation, to develop for the golf industry, a technique to evaluate the economic viability of a golf course investment, one that would be embraced by both the developers and the lenders. Unfortunately, far too many developers, ask the wrong questions. They should ask, Does a golf market exist at this location? If so, what will be the most optimal scenario? Should I build the golf course? What effect will the course have on the residential portion of the development? What can I afford to spend? How much will such a course cost? What will be the return on my investment? Should the course be private, public, or a combination? Are there other alternatives? What green fees are likely? What should the initiation fee be? What is the most effective way to market the new course? Can I save federal income taxes on the initiation fees? How much should I spend on advertising? What is the proper staffing? Plus many other questions. A thorough Feasibility Study and Business Plan, based on experience and integrity, answers those questions and many more. Today, very few, if any courses are developed without having the benefit of an economic analysis and business plan. Unfortunately, far to many golf course consultants jumped on the “bandwagon” claiming they were qualified to render economic advice on investments in golf courses. But to no ones surprise, many of these organizations had little in the way of experience and meaningful credentials. GIA is one of only a handful of consultants that have earned the respect of leading designers and lenders in the industry. GIA earns its' fee when we reveal to the developer and the lenders alike the pertinent and critical issues that will impact the success or failure or the venture in the feasibility studies and business plans.Not unlike the real estate development principle of "location, location, location," the principle for an effective and comprehensive golf course feasibility study and business plan is "experience, experience, experience." In our part of the golf industry, all of our competitors use inexperienced interns to gather field data, data that is later used to give validity to their product. Unlike our competition, at GIA, our President Al Bechtel does all of the assignments himself, so his 18 years of experience and 250 previous studies make their respective contributions to your final product. It's a fact that Al has personally developed more golf course feasibility studies than any other individual in the world. Sure one or two companies have done more, but no individual has even approached this record of worldwide experience. At GIA, we understand that each golf course feasibility study has at least two clients the developer and the lenders. GIA recognizes that the success of your project is primarily the result of our experience and integrity. Because of our commitment to excellence both the developer and the lenders have total confidence in our conclusions. References are available on request. GIA and its products are recommended by the top three "signature" golf architects in the world. |