There are many options to consider when you open a new driving range.If you’re building a new range, location is an important factor.
Driving ranges allow golfers to warm up for a round, to practice their existing skills or to work on new techniques.
A driving range may simply consist of a few or several teeing areas facing an open field, but some driving range facilities include elaborate entertainment centers.
If you locate in a residential area, it may be wise to offer some family-friendly amenities to encourage parents to bring their children.
Make sure your safety precautions are in place before opening your range.
The range of these factors will cause financial variance, but the best approach to forecasting is using the performance of comparable driving ranges or the prior operating history if yours has it.
These assumptions are packaged into three to five-year projections to form an income statement, cash flow projections, and a balance sheet .
The decision also depends on the number of people you hire: The longer your hours, the more employees you’ll require.
You may wish to install lights to remain open later in the day.
However, there are several other elements that should be included in your business model to demonstrate the unique positioning of your driving range.
One of our clients started a fully digital indoor driving range that simulated an outdoor environment.