By Magni Haakon
It is the driving range that offers a place to practice to the golfers of all levels. Such driving ranges can be located both indoors as well as outdoors. The range started by a person will appeal to people of all age groups who are interested in learning or playing golf. This article will help one know how to start the golf driving ranges as a business.
- Plan the business:
The first step is to map out the specifics of the business and discover some unknowns. Some key topics that are to be considered are:
- How much startup and ongoing costs are to be incurred?
- Who will be the targeted customers?
- How much can be charged to the customers?
- What will be the name of the business?
- Form a legal entity:
Next, it is essential for the entrepreneur to choose the appropriate business structure for the driving range. The pros and cons of different business structures like sole proprietorship, partnership, corporation, and limited liability company (LLC) should be evaluated before deciding on the most suitable one.
- Register for taxes:
Before starting driving ranges as a business, it is mandatory for the entrepreneur to register for state and federal taxes. In order to register for the taxes, a person needs to apply for EIN (Employer Identification Number).
- Set up business accounting:
Recording the expenses and sources of income is critical so that the financial performance of the business can be understood. Maintain accurate and detailed accounts to simplify the annual tax filing.
- Obtain necessary licenses and permits:
Failure to obtain necessary licenses and permits results in hefty fines or even worse i.e. shut down of the business. The most important document that one needs to obtain for establishing driving ranges is a Certificate of occupancy (CO) which defines the building codes, government regulations, and zoning laws.
- Get business insurance:
Similar to the permits and licenses, the range business needs insurance so that it can be operated safely and lawfully. The financial well-being of the company in the event of a covered loss is protected by the business insurance.
- Define the brand:
The brand of the business is what a company stands for. It basically defines how the range business will be perceived by the customers. It is the well-defined and unique brand and logo that helps a particular business to stand out from the competitors.
- Create a website:
Once the brand and logo of the business are created, the next step is to create a website for the company. In this digital world, it is essential for the driving ranges business to establish an online presence so that targeted golfers are attracted to the range and a sufficient number of profits can be earned.
Conclusion
Driving ranges are well-known for attracting a wide range of customers, from families looking for fun leisure activities to serious golfers. This in-depth practical guide is all one needs to go through to understand how a driving range business can be started.
