Reinvesting for the future
This prestigious private members’ club had a full membership and good levels of business. But this was not translating into operating surpluses. Cornerstone Golf were appointed to see where the club were going wrong.
A well-established and prestigious private members’ club was concerned that the golf side of the club was not in-line with their desired positioning. Good levels of business and a full membership were not translating into operating surpluses, that could be used to invest in the courses and facilities.
Cornerstone Golf were appointed for a long-term project to specifically address the management and governance structure, an ageing membership profile, falling revenues and shortcomings in the clubs outdated facilities, with a view to producing a 10-year business plan that would future proof the club.
Cornerstone Golf analysed the management structure and governance, HR and health and safety management, historic trading performance, positioning of the club, competitors and market situation to determine the best course of action.
A strategic paper and associated business plan produced by Cornerstone Golf recommended:
- A revised executive function
- Changes to the constitution and rules
- Changes in personnel, roles and responsibilities
- New clubhouse capital works
- Revised club positioning that emphasised the inherent strengths of the club that were not being effectively communicated
- A review of the club’s pricing
- Development opportunities that would allow the necessary capital works to be funded.
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