It is estimated that over 65 million people worldwide play golf. Whilst this has historically been made up of primarily men, more and more women are getting involved.
Golf is a great form of interactive exercise and a booming market for entrepreneurs to get involved in as there are so many consumables (clothing and equipment) required or desired by the players.
There are also those who excel at golf and want to work in the business that they so enjoy.
There are many ways to make money from the golfing industry, here are a few.
Most money-making schemes will entail an initial outlay (speculate to accumulate), which may not be recouped for a while. However, an event is almost guaranteed to cover any initial expenses, and more.
Firstly, do your research. It is no good setting up an event at a golf course which nobody wants to play at. Once chosen and terms agreed with the club, it is imperative that you market the event well. The cheapest way is to get online activity flowing in golf forums and producing flyers for other golf clubs.
Make sure you have a charity raffle – choose a charity local to the golf club. Approach local businesses for prize donations (remember, if the charity is local, they are more likely to donate).
Give the event a name – maybe this is the start of an annual event and so make sure the name is professional.
Sell your tickets! Include a meal at the end and half a bottle of wine per table…negotiate a price with the club for this and then double it for the attendees. Again, a club is going to profit from this event in two ways…firstly, it is getting free marketing and secondly, its bar takings are going to be phenomenal, remember this during negotiations.
Golfers will pay for this kind of event and, often, their spouses will join for the meal, etc. so make sure you have plenty of tickets!
Become an Instructor
If you are obsessed with golf and play regularly, the chances are that you have an incredibly good handicap. Most existing instructors are professional golfers…but you don’t have to be able to teach someone. What you DO have to be is exceptionally good at golf and have an unbiased understanding.
Most learners are going to want their instructor to have some sort of qualification though, unless you are lucky enough to gain a word-of-mouth recommendation. There are certifications that you can gain and it is highly recommended that you do so if you want to succeed as an instructor and make it your career.
Open a Golfing Store online
As previously stated, there is an extremely lucrative opportunity in selling golfing accessories and clothing. You will need to know about golf to be able to understand what will sell and what won’t. You will need to set up a website, but that isn’t difficult using such free software as WordPress.
Decide whether you want to sell top of the range, value or both. Remember, you are going to have to make an initial investment in things to begin with. If you can come to some sort of an agreement with a manufacturer, whereby they would ship from their premises – perhaps you can get away with not having to purchase what you are selling until it is sold.
If you play golf and are aware of a niche in the market, that would be a very sensible option. However, remember that not everyone thinks the same as you…is what you are selling something that people really want or need?
The biggest money-spinner will probably be the ‘gift’ section. These are usually frequented by non-golfing customers, looking for a present for their golfing friends or partners. Make the offerings look essential and expensive (even when they are not).
Write about the Courses
Combine travelling, golf and reporting. What could be better for a golf lover? Golfers will always need to know about the courses they will be playing before they actually play them. There are many golf books out there, but that doesn’t mean to say there is not room for another!
Make your offering more pleasing to the eye. Maybe start with courses in a single area so that you can give thorough and helpful information and statistics.
Find a USP. For example, are there many humorous AND insightful offerings available? Can you draw pictures of the tee off to the hole? Can you show ball trajectory? And so on…
Sell Golfing Holidays
These could be an extremely successful endeavour as long as they are pitched correctly. Most people (let alone golfers) prefer to have everything taken care of, rather than booking flights, then booking accommodation, then booking the golf courses, etc.
Do your research. Travel to one destination. Make the plans with the villa/hotel, golf course, flights etc… then sell it with an inflated price (for your time). It is recommended that you start small, with one location (but perhaps multiple golf courses included). Once you have perfected one location, you could others and before you know it, you have a fully-fledged golf travel business.
You may need to investigate getting the required certifications if this business takes of (ABTA etc).
If you have a job that you hate, and a small amount of money to invest, then why not? If you love golf and play frequently then why not? You are the only one stopping you from making the commitment. Sometimes it’s not the right time, or the right industry but if it is, you will know.
There are many golf business ideas opportunities not mentioned here. The above are the ideas which cost the least to get going. As with all things in life, it just takes the confidence to build on your idea to be successful. Taking the first step is the hardest part, but once you start reaping the rewards you will wonder why you waited so long!