Making Money with Golf

Posted by nabeelshaukat on August 21st, 2010

Making Money In The Golf Industry

Golf is normally considered as a game of Royals or rich people. Golf is taken as a highly paid business, and many people play golf as a way to earn a good income. Though in America, golf is now in reach of a common man due to daily fee courses, cheap municipal golf courses, and many other facilities, but outside the United States, especially Europe, golf is still considered to be a game of Kings and Royalty, and it is still taken as a prestigious and expensive game.   

The industry of golf is a multi billion dollar market with a universal presence. Golf provides pleasure and joy to millions of people who love to play or watch the game of golf and this game is a way for tens of thousands of people around the world to earn a handsome earning. Due to the management of the international golf clubs, and continuous increase in traffic in this game, and due to the increase in the sales of golf related products, there is a vast range of opportunities available in the golf industry. One can earn a handsome amount from the sale of golf accessories, as golfers are normally ready to pay higher amounts on good quality products because most of the golfers are addicted to this game, and are willing to pay any amount for a high quality product. So, if you are in this industry you would be familiar with all this. However, if you are running a golf related business, but not generating a handsome amount then you should better go for a joint venture.

Joint Ventures in the Golf Industry:

A joint venture is what, when two or more than two companies shake hands to run a single company, or make arrangements to run their business on a combined basis. Joint ventures are famous in the golf industry. So, if you go for a joint venture, this will certainly boost up your sales level, generate various streams of income, you will be getting access to a wider proportion of your target market, and this can also enable you to launch a new golf product with the help of your alliance partner. This will also enable sharing of resources, so your financial risk would be minimized. Joint venture also provides sharing of risk as both parties would be responsible for risk of loss because both are in partnership, but it depends on the agreement between both parties. You can choose anyone of the following joint venture options.

1)    Another company selling your products: This is a cheap joint venture options. Here another company will be selling your golf products for sake of commission. This will save your investment to go in new areas to sale your products as your partner will be selling in different areas on your behalf. This way you can capture high market share, and can break barriers to entry.

2)    Selling another company?s products: In this option you will be selling another company?s golf products. This option is best when you don?t have the necessary investment to purchase and sale golf products by your own. In this way you can get experience of the golf market, and can earn excellent commission or share of profit, depending on the deal with your alliance partner.

3)    Partnership: You can go for a partnership with another company, selling golf related products. This will ensure sharing of resources and sharing of expertise, and access to different markets.