August, 2019 - In this issue

What do Non-Golfers Think of Golf?
Market Intelligence: What's it Worth?
What Design Features Matter Most?
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WHAT NON GOLFERS THINK of GOLF

In an era of declining participation, numerous course closures and the general perception that golf is in decline, I have often pondered what non-golfers think about golf. One indication came in early 2017 when I was giving an educational presentation at the PGA Merchandise Show in Orlando. Near the end of the session, one of the attendees asked what I thought was the key to turning golf around and making the game grow again. My then college freshman son was with me and had just entered the session so rather than give my answer, I suggested to the questioner that we ask Jack why so few of his friends played golf. His immediate and unbridled response was “because of the suits upstairs” which meant that golf was perceived by his friends (millennials) as a stuffy and stodgy game played by older, white men. To this day, one of his lasting impressions of the PGA Show is of all the Titleist sales reps in their cream colored jackets and striped ties.

MARKET INTELLIGENCE

Just the other day, I received an email from an industry colleague with the title of “Chief Market Intelligence Officer”. First, I told him I loved his title and then asked if he worked for the CIA or the Russians. It provoked some thought.

At Golf Property Analysts, (objective) market intelligence is exactly what we are providing our clients. Our database has records on surveys of over 18,000 golf courses and sales of over 6,000 golf properties. Of course, with only 15,000+/- golf facilities in the United States those numbers include surveys of the same club on multiple dates, information on sales of golf properties that may have sold more than once over the years and of course, some (hopefully not too much) duplication. In any event, we have amassed a substantial amount of information, and thus intelligence on golf courses and country clubs around the United States.

DESIGN FEATURES THAT MATTER

It often seems as though all golfers are wannabe golf course architects. It’s one of the many allures of the game. Golf courses, like ice cream come in many “flavors” in the form of shapes, sizes, features and environments. As one who’s been lucky enough to play more than my share of great (and not so great) golf courses and analyzed thousands of others on the basis of economics it occurred to me that some features were more important than others for sustainability.

E-Mail Larry

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