How to Design a Business Plan for a Golf Club

It takes preparation to design a business plan for a golf club.

To design a business plan for a golf club requires careful planning and organization. An effective business plan is formatted using a basic style. In writing your business plan, think like an investor or a bank and you’ll answer questions before they are asked, says Harvard Business School Professor William A. Sahlman. Your business plan should help you secure the finances you'll need to open or operate a profitable golf club.

Things You'll Need

• Personal computer
• Word processing software
• Spreadsheet Software
• Paper notebook
• Pen

Instructions

1. Write an executive summary. This important piece of your business plan should introduce a banker or investor to your golf club. Include your company mission, vision for the future, and the background behind your idea. Write at least five paragraphs.

   Here's a sample sentence: “Our mission is to provide the ultimate golfing experience and provide customers with excellent service.” Or, “We have designed a golf club that will cater to high-end clientele, and we seek to build a top-notch reputation.”

2. Write a company summary. Include the location of your golf club and its proposed hours of operation. For example: “Our plans are to locate ZZZ Golf Club in an exclusive location 20 minutes from downtown and be open 8 a.m. to 7 p.m., Monday through Friday.”

   Within the company summary, include a product and services subsection. Describe the services offered at your golf club, and include a proposed membership price list. For example, you could write, “We will offer golf club yearly memberships starting from $5000 to $8000. In addition, customers can rent the club at prices starting at ...."

3. Write a market analysis summary. Research and gather information on the golf club industry. Choose and include a list of three to four competitors. Write five to eight paragraphs describing the industry. An sample paragraph might read, “Golfing has become more than a hobby in recent years. With the boom of this sport, we have found a considerable need to provide an ultimate golfing facility to customers in one city.” Compare your golf club to those of your competitors.

4. Create a marketing strategy section. Choose and include three to four marketing efforts you plan to employ to spread the word about your golf club. Include strategies like business cards, radio advertising, word of mouth, television commercials, or kick-off events and campaigns. Write a brief description of each.

5. Create a management team section. Include a short description of each member. The goal of this section is to convince the reader that the management team can successfully run the company, according to the University of Akron’s Entrepreneurship Program. Write the name of employees, and include their backgrounds and areas of expertise.

6. Create a financial projection. Design a spreadsheet and list all costs associated with your golf club. Provide a breakdown of the cost of operation for the first month. Follow this with an overview of first-year finances. It is permissible to estimate. Include start-up capital, other seed funding, and donated equipment or supplies.

Tips & Warnings

• Proofread and spell-check the business plan for accuracy and clarity. Include a table of contents. Consider hiring an accountant to draft a financial projection forecast.

References

• Harvard Business School: How to Write a Great Business Plan
• University of Akron's Entrepreneurship Program: Major Parts in a Business Plan
• Busplan.cc: Writing a Business Plan