Why order Mike Kahn's Golf Course Business Financial Analysis?
Here's your current situation:
- You're having trouble making ends meet
- The banker calls you (very) often these days
- The course is aging and needs serious refurbishing
- Membership roster has declined substantially since 2005
- You have not (really) been paying attention to your market
- You follow routine, routine, routine, yet same results
- Your advertising is now 100% Internet (bad decision)
- See a full list: signs of a golf course in trouble
Why I am positive you are 'spilling' thousands and thousands in fees, taxes, and expenses, which is contributing to the condition you are in now. I'm positive because when we are engaged ...
- We find $ thousands in ridiculous credit card processing fees
- We find $ thousands overpayments in worker's comp premiums
- We find $ thousands in fees and taxes you could be claiming back to you - going back several years
- We find $ thousands of waste in maintenance expenses
- We find $ thousands in new business by applying proven strategies you are not using now
I have reviewed hundreds and hundreds of golf course financial statements. With over 50-years behind me I can quickly recognize out-of-whack areas that need to be addressed. Like finding money behind the cushions, I can usually find thousands either in savings or missed earning opportunities.
I apply formulas to my review of a golf course financial statement based on years of observing successes and failures (experience). I look at the numbers from an operator's perspective. Then, I switch chairs to review the same statements through a lender's eye, "Am I looking at a business that can repay a loan?"
I review three basic components: Financial Statements, Physical Assets, Marketplace.
"How can we make this boat float?"
Get me this list:
- A detailed financial statement going back at least three years (if available).
- Detailed income sources by departments - monthly showing budget and previous year
- Detailed outflows by department - especially course and clubhouse upkeep
- Cost of Sales (COS) - separated by departments and sub-departments
- Payroll expenses including key personnel salaries/contracts
- Bank loans/mortgages and amortization
- Inventory of maintenance machinery including (important) model years
- Membership roster
- Round counts - monthly for at least three years
- Any unusual income or outflows
Call me to set one up: 941-739-3990, or write: mike@golfmak.com