Driving Range Business Plan How To Start Up An Event Planning Business

You can have employees handling cash, or you can partially automate your range by purchasing ball-dispensing machines that accept money -- cash, credit cards or both -- then spit out the appropriate number of balls.Some dispensers accept only tokens, which must be purchased from an attendant over the counter. This will be based in part on the times when your customers are likely to play.Investors will want to understand the unique elements of your driving range and how they combine to create competitive positioning that they can profit from.The business model for a driving range is relatively straightforward, providing golfers with a place to practice their performance.

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If you’re building a new range, location is an important factor.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 .If you locate the range near office buildings, for example, you may wish to open earlier than normal, and remain open well into the evening, so the local workforce can hit a bucket of balls before or after they go to the office.You may also wish to offer a special weekday rate for a meal plus a small bucket of balls so the workers can play during their lunch breaks.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.Choose how you’ll handle cash and whether you’ll accept credit and debit cards.This decision goes hand-in-hand with the question of how many employees you’ll have.

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