With every passing year, a Club’s facilities get another year older. Eventually, your clubhouse will need to be renovated, your golf course irrigation system will need to be replaced, or your docks will need to be rebuilt. When the time comes to undertake these projects, where will the funds come from? Ultimately, they will come from your members.
The economics of private clubs has changed dramatically over the past several years. In the past, an assessment charged to members to fund a capital project would not have been unusual. Now, a large assessment may have your members charging for the door.
Proper capital project planning is a necessity. Looking out to the future and scheduling the estimated timeframe and cost of required projects must be done so decisions can be made now as to how to fund them.
Many clubs are currently facing the dilemma of how to pay for renovations needed now without sufficient cash on hand to fund them.
Our Private Club Service Group professionals have direct hands-on knowledge and experience dealing with capital project planning issues. We can help your Club in the following areas:
• Projecting capital project needs
• Projecting capital project costs
• Planning for funding future capital project needs
• Funding models for current capital projects
• Member communications for capital projects.
• Arranging / negotiating bank financing
• Capital reserve cash flow modeling