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Posted on 1/15/15 at 9:21 am to Croacka
500k is laughable to get the course back in shape, buy equipment, update the irrigation system, advertise, etc.
2 million minimum is needed. However, if LSU golf course does close as anticipated...it may work. Lsu pumps in 40 to 50k rounds annually. Also, BREC is pondering closing Howell & Clark. There may be a need for another course in Baton Rouge.
In saying all that, I wouldn't write a check for 5k if their goal is 500k. If they had a plan to raise a couple million, I would probably donate it. I would like to see it open.
2 million minimum is needed. However, if LSU golf course does close as anticipated...it may work. Lsu pumps in 40 to 50k rounds annually. Also, BREC is pondering closing Howell & Clark. There may be a need for another course in Baton Rouge.
In saying all that, I wouldn't write a check for 5k if their goal is 500k. If they had a plan to raise a couple million, I would probably donate it. I would like to see it open.
Posted on 1/15/15 at 9:45 am to betheone
quote:
Also, BREC is pondering closing Howell & Clark. There may be a need for another course in Baton Rouge.
If Howell and Clack close, and "The Regacy" opens, it will become Howell II.
Posted on 1/15/15 at 10:14 am to betheone
quote:
However, if LSU golf course does close as anticipated...it may work. Lsu pumps in 40 to 50k rounds annually. Also, BREC is pondering closing Howell & Clark. There may be a need for another course in Baton Rouge.
If multiple golf courses are closing, it doesn't seem like there is a need for another one.
Posted on 1/15/15 at 10:25 am to Brummy
quote:
If multiple golf courses are closing, it doesn't seem like there is a need for another one.
Glad to see someone passed Econ101. The market is over saturated, replacing a business driven out due to saturation is NOT the answer.
Posted on 1/15/15 at 10:54 am to Brummy
LSU isn't closing because it isn't profitable. Their records are public, look them up. The university wants to close it to make room for additional campus growth.
Posted on 1/15/15 at 10:59 am to Croacka
Posted on 1/15/15 at 11:01 am to Croacka
Powerhouse Gym would have been a better investment.
Posted on 1/15/15 at 11:20 am to betheone
quote:
LSU isn't closing because it isn't profitable. Their records are public, look them up.
quote:
Net income for the 18-hole course has plummeted from $123,221 in fiscal year 2012 to just $18,502 in the fiscal year that ended June 30. Over that same span, net operating revenues have decreased from $1,079,211 to $1,014,188, while operating expenditures have increased from $985,351 to $1,017,973.
quote:
Before interest on investments was factored in in the most recent fiscal year, the course had an operating income of $3,785 in the red.
quote:
The golf course has a target of 50,000 rounds played per year to remain financially viable, but “the course has not met that target and is not being used as much as it needs to meet financial obligations,” Millican writes, adding the course missed its goal by 5,000 visitors last year.
LSU Golf Course ‘not being used as much as it needs to meet financial obligations’
It may still be technically profitable, but it does seem to be having some financial concerns.
Posted on 1/15/15 at 11:22 am to betheone
quote:
LSU isn't closing because it isn't profitable. Their records are public, look them up. The university wants to close it to make room for additional campus growth.
Basically they can make more money by turning it into a parking lot where there is little maintenance needed.
Posted on 1/15/15 at 11:24 am to blue_morrison
Stopped reading right after I read this...
Will I get my money that I invested back?
There is a slim chance that you can get your money back if the course is successful. After the first year we will have predetermined percentages for the property owner, investors and golf course maintenance. So, it is really up to us to make this course successful.
Does my investment include membership?
It does not include membership. It is an investment in opening up the golf course.
You would have to really love that golf course and have 5k to throw around like pocket change. For that reason... I'm out.
Will I get my money that I invested back?
There is a slim chance that you can get your money back if the course is successful. After the first year we will have predetermined percentages for the property owner, investors and golf course maintenance. So, it is really up to us to make this course successful.
Does my investment include membership?
It does not include membership. It is an investment in opening up the golf course.
You would have to really love that golf course and have 5k to throw around like pocket change. For that reason... I'm out. This post was edited on 1/15/15 at 11:26 am
Posted on 1/15/15 at 11:44 am to RedHawk
Exactly correct. Although LSU turns a profit, they will make more by selling parking passes for football! And I don't blame them.
For the record, they have 0% chance opening Sherwood back up. All I'm saying is if they had enough investor money, they could get the course back in shape and potentially have enough rounds to support it. But, even at that point, it will never generate a substantial profit. It's a break even business. If anyone would write a 5k check with the expectation of getting a return on a golf course in LA, it ain't gonna happen. I would only do it for sentimental/family reasons. But, they will never get near $2mil, so I have nothing to worry about!
For the record, they have 0% chance opening Sherwood back up. All I'm saying is if they had enough investor money, they could get the course back in shape and potentially have enough rounds to support it. But, even at that point, it will never generate a substantial profit. It's a break even business. If anyone would write a 5k check with the expectation of getting a return on a golf course in LA, it ain't gonna happen. I would only do it for sentimental/family reasons. But, they will never get near $2mil, so I have nothing to worry about!
Posted on 1/15/15 at 12:30 pm to betheone
quote:
Also, BREC is pondering closing Howell & Clark.
They should have done this years ago. I'll be very surprised if they ever do it.
Posted on 1/15/15 at 12:40 pm to betheone
quote:
For the record, they have 0% chance opening Sherwood back up.
Yep, mother nature takes it toll in no time. Will take a lot more than $500K to bring it back to playable shape. I do like having a driving range fairly close though.
Posted on 1/15/15 at 1:07 pm to RedHawk
quote:
Will take a lot more than $500K to bring it back to playable shape
The fact that they believe this 500K number being accurate is appalling. It will take $250K alone to install an irrigation system that will work and sustain the course for a prolonged period of time. So I guess they think it will only cost $250K to get the course back into sustainable condition?
My arse. The clubhouse alone could use that...
Posted on 1/15/15 at 1:09 pm to unbeWEAVEable
I offered to host a fund raiser here for Hein Ngyen (Hen Win) since I'm too poor to give him $5k large. My kids were all ready to host a lemonade stand and give a portion of the proceeds to his cause on February 5, but I just needed Hein to send me a small donation for the ingredients and some tables and chairs for the kids…Haven't heard a peep yet.
Posted on 1/15/15 at 1:10 pm to unbeWEAVEable
That course is awful and it blows anyway. Good riddance.
Posted on 1/15/15 at 1:11 pm to Martini
quote:
But the popcorn machine in the men's grill will forever be in my memory.
THIS
But also Nel and Brenda
Posted on 1/15/15 at 1:12 pm to Tiger Ryno
quote:
Hein Ngyen
Nguyen
Posted on 1/15/15 at 1:13 pm to Croacka
guarantee old
fricked the club out of the money for the $17k debt
and is mad because he no longer has his revenue stream and will frick the "investors" out of their $500k.
Can you post this dude's email so we can blast him?
quote:
Hien (Hen) Nguyen
fricked the club out of the money for the $17k debt
and is mad because he no longer has his revenue stream and will frick the "investors" out of their $500k.
Can you post this dude's email so we can blast him?
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