Advice needed, starting my own golf store

[FAHooGolfs]

Sort of - grad school class project

For my "entrepreneurship" class project, we have to create a business and write a business plan for that business. I've decided, naturally, to "start" my own golf store. My initial idea of the golf store is for it to be an all-inclusive store for hardcore golfers - thus the tentative name of the store, "Golf Nuts."

In addition to a retail portion of the store, I'd like to have the following:
- a year-round driving range (whether that's a dome of some sort or a covered area I haven't yet decided). This would also serve as a perfect spot for customers to test new clubs and could also have the ability to turn into some sort of family fun center (like a TopGolf facility if anyone has heard of those).

- Going along with that, I'd love to have several bays similar to what you see at top D1 colleges and high-end teaching facilities where it's basically an entire room outfitted with specialized equipment to teach the golf swing. My instruction group would also use this area.

- a workout facility specifically designed for golfers

- an on-site instruction group that acts in a capacity similar to a CPA or similar advisor to provide on-going specific advice for regular clients (so the instructor knows the person's swing and tendencies and isn't just giving out general advice). This group could also do clubfitting, etc.

If anyone has any ideas that they could toss in, I'd love to hear them. I have to make this as real as possible so I have to make sure I analyze everything about the place - from various competitors to the ins and outs of operating the business. Also, if anyone could give me some advice on how the financials of a golf store work, I'd love to hear more about that as well.

Thanks for any help you can offer!

[FAHooGolfs]

Just curious, how much of a "budget" is the professor allocating for the project?

 

That's part of the project. We have to figure out how much we'd need roughly. The idea is at that point, you'd theoretically use the business plan to go find financing

[Gxgolfer]

You are planning Internet or Retail location? If brick and mortar, then you will need to decide location first. Most of the time its easier to buy an established green grass store with OEM accounts already.

[SadTrombone]

Do the dome. You can use the space in the dome to hold "conventions" or other "events" to increase revenue, especially in the summer. Locally, they play softball, baseball, soccer and football at our dome.

 

Oh...step one. Hire me to be your manager. I'm cheap. I work 3 days....starting pay $85k.

 

Really that's all you need for this class:

 

"I will hire minitour at $85k for 3 days per week." A plus plus plus.

 

Not sure about "golf nuts" though. There's got to be something else. Something catchy.

 

Advertise. Set up a website. Just because you're "retail" doesn't mean you can't do e-sales.

 

Some way to keep track of your regular clients' spending. What they buy, when they buy, the specs, etc. That way when Jimbo Local walks in and says "Hey...I need to make sure this SW is right." you can pull up his/her info and see swing weight, length, loft, lie, flex, price, purchase date, etc.

 

Don't hire $8/hr wonders. Hire real golf people...people that know the game.

 

-mini

[scotty01292]

 

Don't hire $8/hr wonders. Hire real golf people...people that know the game.

 

-mini

 

"Hello... Tiger? How'd you like to come and work with me designing a golf shop and practice range? You'll need to take a little time out, say round about the time of the Masters, Open, US PGA and US Open..."

 

"Yeah, sure! Sounds great!"

[bapfu]

it would be great to have some doctors to help with the aches and pains some golfers might have. a spa would be nice too!

[FAHooGolfs]

Do the dome. You can use the space in the dome to hold "conventions" or other "events" to increase revenue, especially in the summer. Locally, they play softball, baseball, soccer and football at our dome.

 

The only reason I'm hesitant to do a dome is because I think the planning council here in town would frown upon that. I have to remember I'm near Colonial Williamsburg and heck, they won't even let 7-11 use the traditional green and red colors, their signs have to be all green. :-\

 

Some way to keep track of your regular clients' spending. What they buy, when they buy, the specs, etc. That way when Jimbo Local walks in and says "Hey...I need to make sure this SW is right." you can pull up his/her info and see swing weight, length, loft, lie, flex, price, purchase date, etc.

 

That's exactly what I was thinking about. I have a program in the business I'm calling the PGA Advisors Group and that's exactly what they do in addition to giving lessons, etc. My goal is completely unbiased advice about what a player needs (i.e. no pro that has a contract with Titleist and only rec's Titleist), but with the ability to say "here's what you need, we can get that for you if you just walk right through that door into the retail portion of the store."

 

Don't hire $8/hr wonders. Hire real golf people...people that know the game.

 

Bingo. Now, does anyone have any idea what the typical salary of a PGA teaching pro is? $60k per year?

[SadTrombone]

Don't hire $8/hr wonders. Hire real golf people...people that know the game.

 

Bingo. Now, does anyone have any idea what the typical salary of a PGA teaching pro is? $60k per year?

 

LMAO

If the PGA teaching pro salary was $60,000, I would have stayed in the golf side of things.

 

The first job offer I got worked out to be a little over $8.50/hr. They were going to put me on salary, but I had to work 5 10s and 1 4 every week (54 hours). AFTER THAT, I could teach and charge $45/30 minutes and I got to keep $20 of it, but I wouldn't be paid hourly to sit in the pro shop and wait between lessons.

 

The deal was that if I accepted the job, I had 6 months to take and pass a PAT (no problem if you can shoot mid 80s) at my expense...they would reimburse the one I passed (in case it took me 10 trys to pass it, they didn't want to pay for the first 9) but when would I have practiced working 54 hours and trying to give lessons?

 

$475/week = $24,700

 

If they would have said $60 (or hell even $40k) I would have done it in a heartbeat. I made more in retail working fewer hours.

 

-mini