Organizing a Golf Tounament - Profitable?

[Squandered Halfpints]

If your were to organize a golf tournament, could it be profitable?

Revenue Entry fees (Includes: green fees, contribution to prize pool, food & drinks, etc.) - and of course my cut.

Minus

Expenses = golf course "tourn" fees, (which doesn't seem like it would be much because they're already getting paid the green fees), and also expenses involved with marketing the tourn. (local advertisments).

Equals
= Profit??????

I know I'm leaving out a lot of small components, but think the above are the biggest chunks of money involved. Is it possible to form a profitable business that organizes all kinds of small local golf tournaments?

[chanson]

wel golf tourneys are usaully to raise money for something not for profit.. people will pay expensiove fees to play in them and can justify it because they are donated to somethign hjelpful, but osmething just for profit would probably irk alot of people.. imo

[chrispalko]

Try this:

(
Revenues: Revenue Entry fees (Includes: green fees, contribution to prize pool.)
+
Sponsorships: Find local companies to sponsor your tourney. Their company's logo will be represented on advertisement and along the course.
-
Expenses: golf course "tourn" fees, (which doesn't seem like it would be much because they're already getting paid the green fees), and also expenses involved with marketing the tourn. (local advertisments).
=
Profit


You see, get the sponsors to cover most of it, that way you make more off of entry fees and such.

I would watch out for food and drinks, I believe you have to have a license to sell that kind of stuff in public. You may not get bothered about it, but then again, you might.

Good luck.

[ChosenList.com]

Not a bad idea if you really brought a new approach to it. Its almost like being a club/event promoter. You would really have to differentiate yourself and make the tournaments entertaining and unique but I think there might be something there.

Downside is that in the struggling economy golf is really taking a hit. Revenues are down in all sectors of the golf industry.

[Squandered Halfpints]

Many people, including myself, are always looking to join tounraments purely to win (cash in many cases), and not for any type of chartible contribution. My brother and I are constantly looking for these types of tourns., and find nothing. Most of them you must be a member of the golf course who's hosting the tournament, which comes with a fee along with the reg. for NCGA (handicap).

Chris, thats a good idea. The business sponsor could have their name on every advertisment sponsoring the tourn. and in every golf cart. I could also get smaller business sponsors to offer smaller prizes such as "closest to the hole - dinner for 2."

I'm thinking it would be best to get a website designed that allows the golfers to register for the tourns. If I ever develop a clientele of "regulars," they could visit the site to check for the next upcoming event.

What else am I missing? What do you think would be the most difficult startup task? It doesn't seem like my initial investment would be that much, and I really believe there is a market for this type of thing.

[chrispalko]

I think the most difficult thing would be to get the sponsors to understand how many people will be viewing their advertisements. That whole aspect is pretty much sales. If you can "sell" these sponsors, then everything else should come pretty easy to you since you are familiar with these tournaments.