Driving Range Business Plan

Driving Range Business Plan-69
Driving ranges allow golfers to warm up for a round, to practice their existing skills or to work on new techniques.A driving range may simply consist of a few or several teeing areas facing an open field, but some driving range facilities include elaborate entertainment centers.However, there are several other elements that should be included in your business model to demonstrate the unique positioning of your driving range.

Driving ranges allow golfers to warm up for a round, to practice their existing skills or to work on new techniques.A driving range may simply consist of a few or several teeing areas facing an open field, but some driving range facilities include elaborate entertainment centers.However, there are several other elements that should be included in your business model to demonstrate the unique positioning of your driving range.

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The financial projections for a driving range will vary in complexity depending on the range of services offered.

For instance, now everyone will order food and beverages while playing golf and some will have large tabs.

If so, consider serving more than just pizza and hot dogs, if you have a food area, so players can combine golf with dinner.

Consider adding heated tees to expand your season if you live in a colder climate.

If you expect to start a driving range and seek investment, it is likely that you will need to approach investors with a professional business plan.

Pro Business Plans has worked with many driving ranges to prepare professional business plans for investment and strategy.Choose how you’ll handle cash and whether you’ll accept credit and debit cards.This decision goes hand-in-hand with the question of how many employees you’ll have.The decision also depends on the number of people you hire: The longer your hours, the more employees you’ll require.You may wish to install lights to remain open later in the day.Many driving ranges offer much more than just a field surrounded by tees and covered in cheap, striped golf balls.Adding one or more putting or chipping greens allows players to practice their short games.The range of these factors will cause financial variance, but the best approach to forecasting is using the performance of comparable driving ranges or the prior operating history if yours has it.These assumptions are packaged into three to five-year projections to form an income statement, cash flow projections, and a balance sheet .After the grand opening, ongoing promotions may include getting search engine presence so you appear at the top when users search for you and targeted social media promotions.For instance, Facebook allows you to target people that ‘like’ Golf within a 12-mile radius of your driving range.

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