What Information do we need to Build a Golf Tournament Budget?
As the Head or Chairman of the Charity Tournament you only need to figure out 3 things; Income, Expenses and Target Profit to build your Budget! (Remember that the budget is your “Road Map” to success and a work in progress that will change as you complete your planning tasks).
Let’s start with our Operating Income sources: Player registration fees, Sponsors, Donations, Silent Auction and Contests.
- Player Registration fee: The rule of thumb that I use is to assign an amount per player/team that covers the Course green/cart fees and food if provided by your selected Course. (I always ask at least 3 Golf courses for detailed quotes to host our charity events). Where possible I include a professional “SEU mulligan package” in the registration fee.
For this example we say our target number of players is 108, (in a shotgun start that will be 3 carts of 2 players on each Hole starting at the same tee time).
Our best Golf course Cart and green fee was quoted at $5,000, so $5,000 divided by 108 players is $46.30 per player; we’ll round that up to $50 each. Now add in Food & Beverage provided by the Course Quote of $18 per player and we’re at $68 each. To make it easy at the registration desk we’ll include the SEU mulligan Package cost at $20 per player. So our Break even cost is $88 per player, but we are here to make money for our charity so the registration fee will be $145 per player or $500 per team. Using an average of $125 per player this will give us $37 times 108 profit or $3,996 above our basic course cost. A good start!