Anyone interested in a golf course??

[TN94z]

Well, my local golf course (The Bear Trace @ Chickasaw in Henderson, TN) is shutting down April 1st if no one steps up and takes it over. I can't believe it! This is one of the nicest courses around our area and they are just going to let it grow up. I feel like I am losing a family member or something. There have been several people come up from Florida that seem to be interested but they say they won't do it unless the price of the equipment drops. Anyway, I just thought I would throw this up in case there are wealthy guys on here or no anyone that is!!

[David in FL]

That sucks. Any idea as to why they're selling?

If the course is profitable, they should be able to find a buyer. If not, then potential buyers are going to look closely at why the course wasn't profitable.....

A golf course is like any other business, when the costs to operate and maintain it exceed the revenue generated, it loses money. If the root causes of the increased costs or lost revenue is something that can be fixed by improved internal operating methods and efficiencies, a buyer will likely recognize that and will consider the business to be a viable investment. If the root causes are do to external issues that are difficult to overcome.......say increases in vendor, supply and maintenance costs, tax increases, lost revenue due to people spending less in an economic downturn, or an over-saturation of competitors in the area, it will be significantly tougher to find a buyer to assume the risk.

I feel your pain. It's tough to lose a favorite track. Hope it works out for you.......

[TN94z]

That sucks. Any idea as to why they're selling?

It's because the course is losing money. But it is losing because of poor management. The have way too many "friends" on staff. They need about half of the staff that they currently employee. There are also some things they could do to get more people out there also. I think if you had the money, then you could make money with it. Right now it is owned by the state of TN and they are letting it go because they are losing money on it....like they don't lose a ton of money on other ridiculous things (long story). Anyway, that is my rant.

[David in FL]

It's because the course is losing money. But it is losing because of poor management. The have way too many "friends" on staff. They need about half of the staff that they currently employee. There are also some things they could do to get more people out there also. I think if you had the money, then you could make money with it. Right now it is owned by the state of TN and they are letting it go because they are losing money on it....like they don't lose a ton of money on other ridiculous things (long story). Anyway, that is my rant.

I'm glad to hear that. Poor management and operations can be fixed. Someone's likely to realize that and take it off their hands. Here's hoping for you.......!

[sabram]

This is not a unique story. The Falls in Lake Las Vegas is closing and will likely die or have houses bulit on it. Same thing with Marsh Harbour and Ocean Haebour in Calabash NC (near Mythlr beach). In this economy I'd guess there will be a lot more

[sam004]

Sadly, I think we are going to be hearing more stories like this in the current state of things. I think there was some over-building during the golf boom of the 90's.

Here in the Chicago area I think there were a few hints at this last year and I expect
some shrinkage in the number of courses here.

Perhaps the good thing, with the downturn in construction, these course won't be plowed over into another strip mall or another housing development.

[TN94z]

Sadly, I think we are going to be hearing more stories like this in the current state of things. I think there was some over-building during the golf boom of the 90's.

This course won't be a housing development....it is in a state park. It will likely just grow up.

[TinCupTampa]

This course won't be a housing development....it is in a state park. It will likely just grow up.

If it's in a state park... how can it be sold?

[sabram]

If it's in a state park... how can it be sold?

If it is part of a State park, my guess is that they would be looking for soemone to independently operate it rather than buy it.

[RocketSauce]

thats crazy. wasnt that course voted " One of the Top Ten You Can Play " by Golf Magazine???

[TN94z]

If it's in a state park... how can it be sold?

The state would basically be lease it out but for some crazy amount of money like a dollar a year or something. They did it with a restaurant that is in the state park too.

[TN94z]

thats crazy. wasnt that course voted "

I don't know about top 10 but yes, it was on the list in Golf Magazine.

[flopdarock]

The state would basically be lease it out but for some crazy amount of money like a dollar a year or something. They did it with a restaurant that is in the state park too.

sweet deal... im in... where do i sign up?

[uttexas]

If every member of TST pitched in $100 for one share we would have about $700,000 to buy the course (this includes the course and clubhouse "as is" with preexisting furniture, TVs, phones, etc). Lets say $25/year per TST member/share holder for mainenance ($150K per year). The president and golf course manager would be the one who started the thread. If we make a profit, we get dividends.

I'm sure my numbers are WAY off---I didn't factor in attorney fees, paper work fees, and am almost sure you can't purchase a golf course and clubhouse for 700K---maybe you can if it forcloses.

What is the asking price?

[TN94z]

sweet deal... im in... where do i sign up?

Not as cheap as it sounds. That is what you can lease it for. You have to have the money to run it afterwards. There is 500,000k worth of equipment that must bet bought unless you have all the equipment yourself.

[TheWarHound]

It would be cool as hell to have a piece of a golf course . . . and it's not that far away from me.

Count me in!

[RocketSauce]

there was an article in one of the major golf magazines recently written by a guy whose dream was to own his own golf course and how he ended up buying one and how it was the biggest mistake of his life. it was pretty recent too. it was either Golf Magazine or Golf Digest, i forget. interesting article though. it explained A LOT of the little things that we wouldnt normally think about in regards to running a golf course and how hard it is to make a profit

[sabram]

There is an article in the last iss of Golf maagazine about the closing of Beectree, North of Baltimore. It was a ten year old Tom Doak design that was quite popular adn was a top 100 public course on the Golf mag list. It closed in December. they are plowing it over to build houses. This is just one of many to close in recentv years and I expect the number of closings in 2009 will bve even higher