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

SIC 7992 | NAICS 713910

This free online 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:

Industry Analysis, Statistics, Trends, and Forecasts

Financial Statements and Financial Ratios

Compensation and Salary Surveys

BV Guides and Databases

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

Industry Analysis, Statistics, Trends, and Forecasts

Industry Research Reports
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:

Market size and major product and service segments
Key industry statistics, trends, and financial ratios
Operating conditions and current performance
Competitive landscape and environment
Major company profiles and market shares
Five-year outlook and growth forecasts

Sample 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
https://www.golfbusiness.com/

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
https://www.golfcourseindustry.com/

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
https://www.ngf.org/
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.
https://www.ngf.org/
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.
https://www.ngf.org/
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.

BizMiner Market Analysis Reports
Golf Courses
https://www.bizminer.com Search for "713910" to see available reports

Market analysis reports provide 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 industry research reports »

Financial Statements and Financial Ratios

BizMiner Industry Financial Ratios
Golf Courses

https://www.bizminer.com Search for "713910" to see available reports

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:

Income and expenses in dollars and percentages
Balance sheets in dollars and percentages
Profitability and return on investment ratios
Liquidity and working capital ratios
Asset turnover and efficiency ratios
Capital structure and debt service ratios

Sample financial statement and ratio analysis report is available free online.

Industry Research Reports
Golf Courses & Country Clubs

(see links for individual reports) (sample spreadsheet)

Key statistics section of these reports provides detailed income statements and balance sheets on a common-size basis and over twenty-five industry financial ratios, with financial ratios provided for the each of the four most recent calendar years and on a historical average basis for 3-year, 5-year, and 10-year time periods. Sample spreadsheet with breakdowns by asset size can be viewed free online.

More financial benchmarking data »

Compensation and Salary Surveys

NGCOA
Compensation & Benefits Report
https://www.ngcoa.org/

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.

GCSAA
Compensation and Benefits Report
https://www.gcsaa.org/

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.

More compensation surveys »

BV Guides and Databases

BVMarketData
Private Company Sales Transaction Databases
https://www.bvresources.com/

Free "Visitor Search" allows users to search the DealStats, BIZCOMPS, and FactSet/BVR databases for private company sales transaction data by SIC or NAICS Code using the following codes:

– SIC Code 7992 - Public Golf Courses

– NAICS Code 713910 - Golf Courses and Country Clubs

Types of establishments included in these codes

Public golf courses - establishments that operate facilities which are open to general public play without the requirement of a membership, often charging daily green fees for access to the course.

Private golf courses - establishments that manage private facilities typically requiring memberships or invitations to play, offering a more exclusive and often higher-quality golfing experience for their members.

Municipal golf courses - establishments that operate facilities owned by local governments or municipalities, usually providing affordable golfing opportunities to local residents and visitors, often with a focus on accessibility and community engagement.

Executive golf courses - establishments that offer shorter courses, typically featuring par-3 and par-4 holes, designed to provide a quicker and more accessible golfing experience, often catering to beginner golfers or those with limited time.

Championship golf courses - establishments that manage high-quality facilities designed to host professional and amateur golf tournaments, often featuring challenging layouts, well-maintained greens, and top-tier facilities.

Driving range and practice facilities - establishments that primarily focus on providing practice facilities, such as driving ranges, putting greens, and chipping areas, for golfers to hone their skills and warm up before playing a round of golf.

Sample reports with detailed sales transaction data and valuation multiples are available free online.

Appraisal Institute
Golf Property Analysis and Valuation: A Modern Approach
https://ai.appraisalinstitute.org/ Search "Books" for title

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.

SGA
Golf Investor & Lender Survey
http://golfappraisers.org/

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.

More valuation data »

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

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