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Golf Courses – Industry Analysis, Statistics, Trends, and Forecasts

SIC 7992  |  NAICS 713910

The following guide to industry research and analysis provides sources for industry statistics, trends, and forecasts, financial ratios, salary surveys, and more.

See the following sections listed below to view available resources by category:

For guides to other industries, see our index of over 400 industries.

Industry Analysis, Statistics, Trends, and Forecasts

Golf Courses & Country Clubs  (view report)
Driving Ranges & Family Fun Centers  (view report)
Comprehensive industry research reports provide in-depth industry analysis and five-year forecasts, with special focus on the underlying structure and external forces and relationships that affect industries and their performance. Topics addressed in the reports include:
Sample industry research report and selected industry statistics including market size, five-year average growth rate, number of businesses, and total employment are available free online.

National Golf Course Owners Association
Golf Business Magazine

Monthly publication provides news and information for course owners and managers with a focus on various aspects of management and operations including course design and maintenance, food and beverage operations, pro shop merchandising, marketing, finance, human resources, insurance and liability issues, technology, and legislative updates. Archived digital editions are available free online.

GIE Media, Inc.
State of the Industry Report

Annual report provides information on current business conditions and concerns and expectations for the year ahead based on a survey of golf course superintendents, with topics addressed in the report including operating budget, capital budget, financial condition, profitability, maintenance crew staffing, personnel recruiting issues, and industry concerns. Current and past reports are available free online.

National Golf Foundation
Publications available from this trade association include:

Fact Sheets
Fact sheets provide a summary overview of the industry's major top-line metrics, with statistical data provided including on-course and off-course participation trends by age and gender, total number of rounds played, average number of rounds played per golfer overall and by age group, course supply and public access, and course development and renovations. Fact sheets can be viewed free online.

Facilities in the U.S.
Annual facility report provides the total number of daily fee, municipal, resort, and private courses by state and region on a facility and 18-hole equivalent basis, and also provides detailed information on course openings, closings, and renovations, as well as the number of courses which are currently in planning or under construction. Summary description and table of contents are available free online.

Participation in the U.S.
Annual survey provides information on golf participation rates and number of rounds played annually by age, gender, household income, and level of education for all golfers, and also includes additional demographic breakdowns by golfer segment (e.g., core, beginners, juniors, women, non-Caucasian) and geographic region. Summary description and detailed table of contents are available free online.

Golf Course Market Analysis  Search for "713910"

Market analysis report provides industry statistics for a user-defined area on a national, state, county, metro area, or zip code level, with data provided including number of companies, market volume and sales trends, average company sales, sales per employee, staffing and employment trends, average employee wage, and business start up activity and failure rates. Sample report can be viewed online.

More Resources
For more industry research reports and other resources, see the following resource guide.

Financial Statements and Financial Ratios

Industry Financial Ratios
Golf Courses  Search for "713910"
Five-year financial statement analysis reports provide income statements, balance sheets, and key industry financial ratios for companies of all sizes, with financial data available by sales size range on a national, state, and metropolitan area level including:
Sample reports on a national and metropolitan area level are available free online.

Golf Courses & Country Clubs
(see links for individual reports)

Financial benchmarking section of this report provides an analysis of industry income and expenses
as a percentage of annual revenues for establishments that operate public, private, and semi-private golf courses on a stand-alone basis or as an extension of a private country club and typically provide food and beverage services, equipment rental and sales, professional instruction, and other services.

Compensation and Salary Surveys

Compensation & Benefits Report

Comprehensive compensation and benefits survey provides total compensation data for 29 job titles, with survey results broken out by type of facility, number of holes, and gross annual revenue and job titles covered in the survey including general manager, superintendent, sales and marketing director, membership director, head golf professional, accounting manager, and food and beverage manager.

Compensation and Benefits Report

Biennial compensation report provides base salary and hourly wage data for course superintendents, assistant superintendents, equipment managers, and maintenance crew personnel, with salary data for superintendents reported by facility type (e.g., private, daily fee, semi-private, municipal), number of holes, annual maintenance budget, superintendent demographics, chapter, state, and metro area.

Business Valuation Resources

Appraisal Institute
Golf Property Analysis and Valuation: A Modern Approach

Comprehensive publication explains how to analyze and value golf properties, with topics covered in this reference guide including types of properties, market analysis, subject property analysis, highest and best use, marketability considerations, applying and reconciling valuation approaches, allocating real, personal, and intangible property values, and unique considerations in valuing these properties.

Golf Investor & Lender Survey

Annual survey provides information on investment and financing criteria used to evaluate golf course properties, with various measures covered in the survey including overall capitalization rate, terminal capitalization rate, net income multiplier, gross income multiplier, discount rate, income and expense growth rates, and course management fees and capital reserves as a percentage of gross revenues.

Private company sales transaction data for over 800 industries.

Related Industries:
Amusement, Theme, and Water Parks
Amusement Arcades and Entertainment Centers
Golf and Country Clubs
Hotels and Motels


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