Frequently Asked Questions

Review these answers to common questions about the alternative to being a member-owned and member-funded club:

  • Will members continue to have control over our club?
    • We act as "Stewards for your Club." The Concert Golf team reports to a Member Advisory Board, which prioritizes capital improvement projects and provides continuous feedback on all aspects of service and course conditions. Strong written covenants ensure that your club's identity is preserved - culture, activities and traditions - and that key member concerns are enshrined in a legal document.

  • How can you be successful where we have struggled?
    • This is our only business. Concert Golf Partners has a proven track record of success at dozens of prestigious golf and country clubs we have owned and operated over the last two decades. We share best practices across our clubs.

      Most importantly, overnight your club becomes financially secure. Concert Golf pays off the club's entire debt and funds immediate capital improvement wish lists. We leverage our purchasing power to save hundreds of thousands of dollars on everything from fertilizer to food each year for your club. We eliminate member assessments and do not increase dues. A financially secure club improves membership growth, increases home values and strengthens the overall vibrancy of the community - something seen over and over again with our clubs.

      Once a club is debt-free with an efficient decision-making structure in place, it is easy to understand why so many formerly member-governed clubs are posting great revenues and membership numbers they couldn't post on their own.

  • What about our land value?
    • The value of the land that a club resides on has two very different values - one value if the club remains and another if it is developed into homes. The value of the acreage is usually much higher if the course is bulldozed to make way for homes - but in our experience members almost never want this to happen.

      The Society of Golf Appraisers is now making its certified appraisals clearer, by stating whether its indicated value is based on residential development or a continuing private club scenario. In most cases, members do not want to see their club destroyed and are instead looking for a way to preserve it. Getting both appraised values eliminates confusion amongst membership, allowing club members to easily move forward with what is best for their club.

  • What happens to our equity in the club?
    • In many cases, the club's debt and its capital needs are equal to or even exceed the market value of the club. In these cases, there really is no "equity" value. Moreover, when faced with the choice, most club members typically prioritize capital investments into the club's facilities rather than getting a portion of their original initiation fee returned to them. Members tell us that they didn't join the club to make money - rather, they joined their club to have a place to have fun with family and friends.

  • Won't you just sell our club?
    • No. Concert Golf Partners is a long-term owner-operator of private clubs. In fact, we have never sold a single club. If we ever were to consider selling the club, we will always speak with the members first.

  • Will our club remain private?
    • Yes. All of the clubs that Concert Golf Partners owns and operates are completely private. We provide written covenants that keep our clubs private.

  • Will membership remain limited?
    • Yes. Our membership team carefully selects new members based on fit with the current membership and financial wherewithal to afford the responsibilities of membership.

      Clubs that we typically partner with want to grow and add members to ensure their club is preserved for future generations. New members are added gradually, mainly through existing members who recruit their friends.

  • Will quality decline?
    • No, in fact the opposite. Concert Golf invests in top-notch clubs to restore and improve the member experience. Not only do we pay off debt, we inject millions of dollars in continuous capital improvements throughout the entire club property - raising the club's reputation and position in the market. In addition, staffs at our clubs provide members quality service because we offer competitive wages and continuous training.

  • What happens to our staff?
    • Concert Golf Partners has very low turnover at its clubs. As we work with a club through the transition, current staff members are reviewed during a normal probationary period. Members at Concert Golf clubs report improved service at their club because employees are provided strong pay and benefits, support and training from an industry leader.

  • Will things change?
    • Yes and no. There are no changes in club identity, culture, traditions and activities. Membership categories and privileges are unchanged with dues and minimums typically remaining the same. Staffs and bylaws for the most part remain the same.

      Members at our clubs see improvements made immediately throughout the club property, particularly on the course and in the dining facilities. And members are no longer paying assessments to fund the improvements - Concert Golf Partners pays the bills. Most importantly for member boards, they spend less time making operating decisions and more time enjoying their club.

  • What will happen to home values?
    • Homeowner members, in many ways, are the biggest beneficiaries of recapitalizing with Concert Golf Partners. Typically, home values rise once a reputable owner-operator with industry experience in the industry steps in. Once the uncertainty of a club's financial footings are resolved; member assessments and significant dues increases are no longer an overhanging issue. Concert Golf Partners spends millions of dollars on capital improvements to restore the club's vibrancy, enhancing the neighborhood and nearby home values.

  • Should the club just hire a 3rd party management company?
    • Hiring a new general manager or a 3rd party management company to run the club does not address the club's debt or capital improvement needs. Moreover, after hiring a management company, the members will continue to own and be financially responsible for the club's debts, operations and liabilities. And of course the members need to manage the relationships with the management company on an ongoing basis.

 
Image
 

Not Seeing Your Question?

Ask Us Now
Text
FED
CSS