If you’ve ever been interested, there’s never been a better time to join a country club! You enjoy the privileges of playing golf courses that are better maintained and not as crowded as public courses. In addition to the benefits of golf, club amenities often include tennis, swimming, dining, and social events.
If you need to host a business meeting, take a client to dine or play golf, a country club is a favored location. Looking for a place for a child’s wedding or reception? The country club is a great venue. Typically another benefit of membership is a waiver of room rental fees or paying substantially reduced ones for events you host.
Successful country clubs operate as any other business. When times are more economically pressed, many clubs have opted not to charge initiation fees or cut initiation fees by half to entice new members.Kindly visit Northampton Country Club to find more information.
Why would they do that? To keep members in today’s market, often dues need to be lowered or dining/food minimums reduced. With the aging of physical buildings, in addition to dues, more frequent assessments are levied for upkeep and maintenance.
In a down market, clubs realize that dues increases and assessments are to be avoided if at all possible. Each assessment brings a corresponding loss of members because down markets usually aren’t producing an increase in income for the member.
Other drains on existing membership correspond to the aging of the general population. Aging members retire and move to other locales.
Expenses for clubs remain the same, however. A way to offset this is by taking in new members. The sheer volume of members can offset the loss of revenue from reducing dues, reducing dining/food minimums, or not levying assessments. It becomes a win/win situation for all.
Current members pay less in dues, have lower monthly or quarterly food minimums, or avoid assessments for maintenance or repairs. New members have the benefit of avoiding an initiation fee or paying one that is substantially reduced.
Wouldn’t existing members resent a new member paying zero initiation fees when they themselves have paid $5k, $10k, $20k, $50k, or even $100k in dues?
What typically happens is that existing long-term members own stock in the club, and new members coming in on these “golden opportunities” are issued a restricted membership that does not own stock in the club. New members still must be sponsored by one or more existing members and must be approved by a membership committee.
Sometimes existing members are offered a monthly dues reduction for a year for each new member they sponsor. Another win/win situation: the existing member gets a dues credit and enjoys being with sponsored friends. The new member gets the added savings of zero or reduced initiation fees and an opportunity to enjoy the benefits of country club membership.