Hickory Ridge Golf Club
HRGC was purchased in 1988 by Greg Hamilton. It is a nine-hole public golf course, located in Columbia South Carolina. Greg Hamilton depends greatly on his friend and confidant, architect/mechanic, Harold Valentine for advice and assistance in solving his problems. Mr. Hamilton has a great passion for golf and owning a public golf course has been a life-long dream for him. HRGC originally opened in 1957 as an 18-hole, par-71 golf course. The original owners, the Williams family sold it in 1964; it exchanged hands several times and was finally purchased in 1978 by the McAlisters. Being in the construction business, the McAlisters cut the course back to 9-holes, built a development on the “back nine” and allowed the course to deteriorate. Upon purchasing the club, Mr. Hamilton inherited a business in need of major repairs as well as equipment replacement, golf carts. The pond was refurbished, he installed an irrigation system for proper grass growth, an office to conduct business was built on the back of the clubhouse, he installed a pro shop with inventory, updated the snack bar, purchased 12 used Club Car electric carts. In addition to these changes, Mr. Hamilton changed the price structured and allowed consumption of alcohol to that purchased on the course (University of South Carolina marketing research project, completed in 19889).
Industry forecast: Rapid growth, number of players increasing steadily. In particular, women players. Women are expected to have the greatest impact on the future of gulf revenues. More blue collar workers golfing; preference of public gold courses, over 80% prefer public courses. Further, the industry is experiencing over-crowding.
Economy: Low unemployment rate (3.9%); large employers, Universities and the state government. Columbia is prosperous with average per capita income steadily rising along with the rising population.
HRGC gains & losses: 1988 revenues...