How to make money from a golf pro shop?
Setting up a Golf Pro Shop requires some investment while there is also an expectation for returns or profits. After all, the reward of capital investment is the profits that come from it. So, how exactly can you earn from a Gold Shop? We may have to draw some vital lessons from stories of successful golf pro shop owners. But don’t worry, it will not be boring because it may not even sound like a story at all. We may place more emphasis on the lessons and apply the same tested, trusted and profitable methods that work.
So, if you observe that your pro shop isn’t raking in as many profits as expected, then this article is for you. The report contains some strategies that can help you get instant results while others will set up your business on a good course for a long time to come. Simultaneously, members of a Golf Pro Club and shop must enjoy the benefits of belonging to one. In addition to its services to existing members and shoppers, these obvious advantages should also convince enthusiasts about golf.
Where do you start?
Mark Bergman, a Head Golf Professional, a multi -winning PGA Professional and a Golf Club owner himself, has the simple blueprint. His strategies will enable you to identify your pro golf club’s core areas to improve and convert to a profit-making venture. Besides, he proposes some crucial points that can boost your revenues and profits while promoting the brand experience on a general platform. As proof, Mark remains in the top 1% of PGA professionals in the US.
But before we look at Mark’s core strategies that can fetch you enormous profits, you may have to take some pre-assessment of your state of business. In other words, there is a crucial question you not only have to ask yourself but also answer as sincerely as possible. Another reason to answer these questions get a picture of where your pro shop is in terms of status. So, what are those questions?
Assessment Questions for your Pro Golf Shop
What are the current sales strategies that you employ?
What sales categories do you have?
Can you boast of a regularly updated working inventory plan?
There might be more loopholes in the inventory that you may know. So, what procedure do you follow in releasing new merchandise?
Do you have a Merchandise Assortment Plan (MAP) for your business?
Draw up an estimate of your monthly sales in order of categories. From your result, what do you think your merchandise revenue is?
Is there any seasonal promotional calendar for continuous business marketing?
Do you have a markup schedule in this business?
What about a pricing plan? And how rigid is it?
At the end of each year, do you still have a large amount of excess inventory? This question is crucial in determining the quality of your inventory management.
Mark Bergman’s Proven Tips for Making Money from Pro Golf Shop Business
Go for the low-hanging fruits first in making more sales
To increase your business sales, Mark’s first counsel is to go for the low-hanging fruits first. For instance, you may start purchasing stock impulse buys for items such as sunscreen or mosquito wipes near the register. Besides, you can also move your merchandise around a bit in a cycle of two weeks to create a continuously fresh look for everyone who comes in. mind you, when you implement this step, your customers may even think you have more goods in-store. On a final note on this step, give out special offers in terms of gift cards and gift wraps that makes it easy for members to shop.
Spread the news of your merchandise to your members
Another way to increase your business sales is by bringing your inventory to your members and allowing them to explore. As long as you have excellent merchandise, these members can always check in on you and purchase some of your top items. Another way to achieve this may include hosting a trunk show or a fashion event where the main idea is to showcase and promote your merchandise to those who attend. Furthermore, you can create a significant increase in your sales by investing in portable fixtures. This way, you can move your merchandise to other close areas of the club where other events may be holding. It makes a lot of marketing sense if you bring the merchandise to potential customers rather than wait for them to come to buy from your store.
Add the unique spice for an excellent shopping experience from your Golf Store
The Golf Pro Shop customer experience is another great way that Mark has practically increased his sales over time. There are many fascinating ideas to employ to encourage more visitors to the shop and make more sales to them. Remember that customer experience does not only drive existing customers to stay. It also makes them invite others to come and have the same experience. So, in a way, when loyal customers are satisfied with their shopping experience, you may have to spend less on the core marketing of new customers. Some of Mark’s suggestions involve holding a focus group over a cup of coffee and discuss what the customers expect the store to have. Besides, you can track the member sizes and create customized brands for them as a gift to add to their shopping experience. If you notice some loyal shoppers who are fit for the VIP category, reach out to them one-on-one and give them extra privileges. These privileges may include trying out new products and brand before others, and so on.
In conclusion, the work of gaining more customers and making more sales from your pro shop are in this article. All you may now need to do is to pick these points step by step and implement them. While they work for you, too, we also look forward to hearing feedback from you. Good luck!