In a driving range business plan, you need to show the different packages you will offer guests or members, along with the price points that the market can bear. You should estimate the volume of patrons you will have, by year, and use competitive comparables to pin down your average sales prices and total sales figures. If you are already in business, create a past performance table/graph showing your P&L and balance sheets in summary form for as many years as you've been open (up to three). If you are just starting out, the business plan should offer a use of funds summary for start-up so that a funding source can see, at a glance, how much capital you are seeking and how you will apply it. As with any venture in the entertainment industry, you also have to consider your competition closely:
• Who are the primary competitors?
• How close/accessible is the nearest driving range?
• What sales figures did your chief competitors reach?
• What indirect competition is there (mini golf, recreational facilities, bowling alleys, etc.)?
• What strengths and opportunities do you see for your business?
Beyond competition, you should also look into marketing strategies that can make you stand out, and describe in detail your customer acquisition and retention plans. Also give a profile of the management team and note any key hires that you will need in the coming years. A complete service description is also a must, no matter how obvious it seems. Lastly, be sure to provide an analysis of either the investor's ROI or the payback scenario you envision for the bank. If you need help developing any of these components, MasterPlans is the company for you. With almost a decade of experience preparing funding-ready business plans using the proprietary Team Planning Model, MasterPlans has you covered. Call 877-453-2011 to speak with a consultant today.
