Capital Improvements
Capital Improvements
In addition to strategic planning and spending, the management team will develop quarterly communication for necessary parties about the status of completed projects, pending projects, and future considerations. The goal is to create the proper short- and long-term planning process while supplying the necessary communication. It is essential that this reinvestment is both understood and viewed positively by a club’s customer base.
It is essential to build an ongoing short- and long-term capital plan. Our company recommends 2% to 3% of total revenues be dedicated to such projects and planning. Our recommendation would be to conduct an annual full-scale site walk through of a facility. This walk through will be conducted each year and a list will be compiled of all outstanding deferred maintenance issues, all potential future needed refurbishment projects, and all areas of potential upgrades.
We believe…
that reinvesting is important to growth, and in the process of evaluating the areas of the business where capital should be invested to maximize the return.
Defining Requirements
Annual Full-Scale Walk Thru
Tracking degradation and identifying not only potential problem areas, but also opportunities for future improvement is vital to long-term success.
Identify Deferred Maintenance
Not every capital improvement project is public facing, and therefore obvious. In many cases, the biggest wins are behind the scenes. Small investments can mitigate long-term risks.
ROI Analysis & Prioritization
With a long list of options, clubs need to undertake intelligent analysis of highest impact activities. Which improvements will bring biggest value for your dollar?
In-House Engineering
Capital improvement projects around agronomy are a particular strength of GreatLIFE. We have in-house core competency to manage such projects from planning to completion.
Dated clubhouse facilities are one of the most significant causes of member attrition. In some cases, complete redesign is necessary. Other case only require strategic alterations.
Know the effectiveness of your turfgrass management program. A combination of field and laboratory analysis methods provide quantitative estimates to determine overall plant health, allowing for more informed decisions and better turf management practices.
Informed Business Decisions
Multiple Bid Comparison
We believe that vendors should be competing for your business, not the other way around. We always solicit multiple bids on all projects for comparison and negotiation.
Contract Negotiation
Given our standing in the golf industry, and with multiple bids in hand, negotiating terms of agreement is typically an easy process. Our legal team advises on modifying any language that could put your club at risk.
Benefits of Scale
Scale means that vendors will sharpen their pencils. It also means that we have many different eyes, and skill sets to evaluate every major contract we enter into. Benefits are passed directly to you.
Project Management & Reporting
Transparent Accountability
You’ll know exactly where every dollar is being spent, updated on timelines and progress, and updated immediately if anything goes wrong. No secrets, no kickbacks, nothing but honest execution.
Centralized Resources
With the level of uncertainty that many capital improvement projects involve, you’re able to take advantage of the vast in-house resources, skill sets, and industry relationships that we have built over the years.
