Why Should Our Club Consider Partnering with Concert Golf Partners?
Partnering with Concert Golf is beneficial for those who want a financially stable future and capital improvements for their club. Our dedicated team of experts applies proven golf industry methods to achieve success, including higher profitability, more members and a more enjoyable club experience.
What is the Process of Partnering with Concert Golf Partners?
Concert Golf’s recapitalization process begins with a confidential phone call with our CEO Peter Nanula to discuss your club’s current struggles and needs. Our team will then review your club’s financials and provide a comprehensive proposal outlining the benefits of partnering with us. Next, we offer a chance for your board to vet our qualifications and visit other properties in our network. Finally, we’ll hold a meeting with the board to answer questions and open the floor for a vote. Once your club decides to partner with us, we can begin working on capital projects. During each step of the process, we’ll remain in constant communication to ensure a smooth transition.
Won’t You Just Sell Our Club?
No. Concert Golf Partners is a long-term owner-operator of private clubs. We have never sold a single one of our clubs. If we ever were to consider selling the club, we would speak with the members first.
How Do You Ensure the Long-Term Success of Our Club?
We set your club up for long-term success by providing financial stability to enhance amenities and invest in future capital improvement projects. During our recapitalization process, we work with clubs to lower dues to market value and increase their membership rosters. The clubs we work with see immediate benefits, from improved golf courses to increased annual revenue.
Should the Club Just Hire a Third-Party Management Company?
No. Hiring a third-party management company to run your club provides a temporary solution that leaves your club with debt and capital improvement needs. When working with a third-party management company, your club is still financially responsible for operations and often has to pay a consultation fee. Recapitalizing with Concert Golf is a better option, providing you with expert financial advice, funding for renovations and guidance in important decision-making areas.
How Can You Be Successful Where We Have Struggled?
Since Concert Golf is a dedicated golf management company, we can offer our full attention and expertise to help your club succeed. Over the past two decades, we have a proven track record of successfully owning and operating over 30 prestigious golf and country clubs. We have the experience needed to ensure an efficient decision-making structure is in place to grow revenues and membership numbers.
As an all-cash investor, we can help your club become financially secure overnight by paying off your entire debt and funding immediate capital improvement wish lists. We also leverage our purchasing power to save you hundreds of thousands of dollars on everything from fertilizers to food each year for your club.
Will Our Club Remain Private?
All the clubs that Concert Golf Partners owns and operates are completely private. We provide written covenants that keep our clubs private.
Will Membership Remain Limited?
Yes. Our membership team carefully selects new members based on whether they fit with the current membership and can afford the responsibilities of belonging to the club. We add new members gradually, mainly through existing members who recruit their friends to preserve the club for future generations.
Will Members Continue to Have Control Over Our Club?
When recapitalizing with Concert Golf, your members will still have some control over your club through the special Member Advisory Board. This Board helps us prioritize capital improvement projects and gives feedback on how members feel about the club’s condition so that we can ensure everything we do aligns with your club’s identity.
How Do You Fund Capital Improvements at Your Clubs?
Concert Golf Partners funds all capital improvements with our operating budget and continuous investment in our clubs. We regularly invest in the club’s facilities to enhance the member experience and maintain the club’s reputation in the market.
Will Things Change?
Yes, and no. Your club’s identity, culture and traditions will remain the same as we prioritize them in all that we do. Areas where you’ll see the most changes include the golf course and dining facilities, which we’ll enhance with renovations based on their current needs. Members will no longer need to pay assessments to fund these types of improvements, and you’ll likely notice less time spent making operating decisions.
What Happens To Our Equity in the Club?
Once your club recapitalizes with Concert Golf, we will refinance your club to address capital needs and pay off debt. This means that your equity is reinvested in the club so that you and future generations can continue to enjoy the club.
What Will Happen To Home Values?
Clubs who recapitalize with Concert Golf Partners see their home values increase by up to 63 percent. We invest millions of dollars in capital improvements, which add value to both the club and its surrounding neighborhoods.
What About Our Land Value?
Your club’s land value can increase dramatically when you recapitalize and invest in capital improvements. Keeping up with the latest trends can help you attract more members and increase overall revenue. Just as renovating an old house and adding granite countertops increases the house’s overall value, renovating your course and other amenities can increase your land’s overall value. Neighboring homes will likely see an increase in their property value as well.
How Do You Preserve Our Club’s Identity?
We ensure your club’s identity continues to thrive by acting as stewards for your club. Before beginning any work, we’ll create strong written covenants that protect your club’s culture and traditions. We also appoint a Member Advisory Board that provides continuous feedback on the club’s conditions.
Will Quality Decline?
No. Concert Golf invests in top-notch clubs to restore and improve the member experience. Not only do we pay off debt, we inject millions of dollars into continuous capital improvements throughout the club property, raising the club’s reputation and position in the market. We also offer competitive wages and continuous training to club staff, ensuring quality service for our members.
How Do You Ensure Quality Service at Your Clubs?
Providing high-quality service is at the top of our minds. We offer our staff competitive wages and continuous training to ensure the best level of service. Concert Golf also invests in capital improvement projects to ensure your club stays competitive in the marketplace and offers the best possible amenities.
What Happens to Our Staff?
As we work with a club through the transition, current staff members are retained. We offer strong pay and benefits to our employees, resulting in a very low turnover rate. Concert also provides staff support and training, which improves your club’s service.