According to the American Golf Tournament Association and the National Golf Foundation, about 2.2 million people started participating in golf events in 2015 alone globally after finding out the many benefits the occasion brings. Still, about 27 million individuals in the U.S like to relate themselves to golfing. Frequent attendance of golf events helps you establish excellent relationships with accomplished business people and qualified players, thus nurturing your entrepreneurial enthusiasm and golf skills.
How to Make Money Through Golf Tournaments
While there are many income streams you can make a significant amount of money in golf, the most incredible way you can make a fortune is by hosting golf events, especially tournaments. However, you can host golf tournaments differently, but the best way to benefit from it is by renting a golf course. So, why not just rent a golf course? Additionally, whether you rent a golf course or find other means, the following are the most remarkable ways of streaming income through golf tournaments:
- Selling Logo Accessories
Once you’ve rented your golf course, set up tournament dates after getting professional guidelines from qualified golf players or course owners. Subsequently, order branded golf merchandise to promote your tournaments efficiently. Consider accessories including ball markers, golf balls, towels, head covers, tees, divot tools, sunglasses, visors, and shoe bags. Also, purchasing before the event makes the items readily available for participants to buy in installments and other purchase options you offer them.
Include most of your accessories on ticket purchases when people register and consider having them with higher-priced tickets. Besides, ordering in bulk helps you optimize your accessories, making them enough for early and late buyers. Still, to engage and captivate many participants to exceedingly buy your items, keep their designing simple, choose enticing colors and find combined packs.
- Selling Drink Ticket Packages
Since golfing is a tiresome experience, selling out drink ticket packages will make you good money. Be sure to offer your players, spectators, and donors drink tickets, especially before games start. Set your tickets with fixed prices and donation packages. Also, make it seamless for anyone to purchase a drink, especially with their devices, so you’d be able to also add tips with each glass bought. Likewise, you can arrange for tip drinks when one makes a physical donation or via a device like their smartphone.
- Offering Discounted Ticket Packages
While selling individual tickets can make you good money, opting for discounted packages like threesome, double, and foursome options increase your odds of making more, especially when parents come with their kids and couples in pairs. Still, be sure to include options such as special rates for participants who buy more accessories, add-ons, and other classical options people won’t help but love to participate.
- Using Matching Gifts
To make more money with your golf tournaments, utilize the matching gifts philanthropy technique. Matching gifts is where you encourage employees, especially those you know love golf, to make donations and present the gifts to their employers, requesting them to make donations through the same presents. Through this method, if you’ve got a significant number of employees who can make a good amount of charity, you’ll have a good number of employers making the same or more for you.
Likewise, train your staff and volunteers for your tournaments to request qualified golfers if they’d help support your vision by matching gifts for donations. Additionally, you can make a seamless maneuver website where participants can quickly check gifts, especially if you’ve got a few accomplished golfers who can help you advertise your course via their social media handles.
- Implementing The Hole Sponsorships Techniques
Another option you can utilize to raise a significant amount of money through your golf tournaments is by allowing hole sponsorship opportunities. Allow your matches to include selling as many holes as possible, including per-hole sponsorships and more. Typically, golf hole sponsorships identify spots with sponsor names consisting of prizes and the cost of owning the hole. Hole sponsorships quickly encourage accomplished business people and other wealthier individuals or organizations to sponsor and acknowledge spots, thus making you more money, mainly if you sell as many holes as possible.
Some of the excellent hole sponsorship considerations to implement include hole-in-one contests and putting competitions. For hole-in-contests, be sure to offer special prizes and costs for golfers sinking a hole-in-one on your tournaments. Also, include the par-three hole options to give players fair chances, thus encouraging them to donate more after winning. Lastly, you can add prizes for golfers winning at putting competitions and create options for winners to make donations.
While you can make money via other sports activities, studies by the National Golf Association report that golf is the leading activity you can make more. However, while you can make money playing golf, making fortunes will need you to have skills and experience; hence, renting a golf course and hosting tournaments is the easiest way to make more money golfing.