Estimating the cost of a new club is straightforward in that you know the conditions at the starting point, but determining the cost to renovate a club involves a number of variables that differ substantially from those of building a new facility.
Determining the accurate cost of building a new club is critical to successful budget planning and, therefore, the long-term success of a club. However, you can take certain steps to more accurately determine the cost of developing a new club.
Having a landlord contribute to your club's construction costs usually is a positive step, but costs and outcomes may vary. Paying close attention to detail and asking questions about how the money is spent are critical.
Preview video: Eric Affeldt, CEO of Club Corp, Dallas, shares his thoughts on the future of luxury clubs, how they are changing, how they compete with low-priced clubs and what other clubs can learn from them....More