 Q. would it not make sense to bring down the entrance fee to attract members.
A. This question has been asked many times. As the number of members
is limited by constitution, to 300, and the projected building of the course
is €1,700,000 it can be quite clearly seen that this ,is an average requirement of €5,500. per membership.
This figure would not include, the building of a new clubhouse or the machinery needed to maintain the course.
If memberships are sold at to low a rate, the project cannot be properly financed.
If for arguments sake the club took in 100 members at €1,270 another 100 at €1,900 and the next 50 at €3,800 that would generate, €510,000 of revenue. Leaving a minimal shortfall €1,200,000.
At the current projected entrance rates, €1,600,000 can be raised by staged increase in entrance fees. Which will rise to €10K at least for the last 50 memberships.
We would prefer that prospective members are fully aware of the
situation, rather than have to apply levies in time to come to complete
the course.
If further capitol is need , it may be considered by the membership to increase the base level number of memberships available.
For example an extra 100 members may be approved at an entrance rate of say €12.7k, which would give the club the oppourtunity to raise a further €1,270,000 for clubhouse development if needed, thus avoiding the need for massive bank borrowings.
Therefore the current rate of entrance at €4.5K represents fantastice value for money. Even moreso now given the ongoing work on the course, And prospective members would be unwise to miss this oppourtunity.
(the above rates are rounded and approximate)
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