Operations Management

GOLF CLUB OPERATIONS

Placing an emphasis on customer satisfaction and defined levels of quality control.

GOLF COURSE MAINTENANCE

Establish daily procedures to ensure consistent quality in aesthetics and playability.

FINANCIAL PLANNING

Central accounting system that provides efficient and effective financial reporting.

The Signet Approach

The Signet approach to daily operations places a strong emphasis on customer satisfaction, defined levels of quality control and financial administration controls and reporting that ensure cost effective use of resources. This standard is achieved by all departments operating as one integrated unit with a defined and dynamic goal in mind.

Golf Club Operations

Service Practices.  Hiring and maintaining a PGA Professional staff and food & beverage staff which will provide the service and knowledge required to assist all guests.

  • Providing outside personnel who will offer prompt and excellent service to each guest.
  • Requiring staff to have uniforms and name tags and to maintain a neat, professional appearance at all times.
  • Offering quality and up-to-date merchandise in the golf shop.
  • Having a qualified PGA Professional on staff.
  • Having a minimum of one PGA Professional on duty at all times.
  • Maintaining efficient, reliable golf cart operation.
  • Training a congenial, professional and hospitable staff.
  • Ensuring guests enjoyment, both on and off the course.
  • Offering starter and ranger programs to maintain the ease and flow of play.
  • Promoting golf and junior golf programs to citizens in the market area.
  • Implementing standard recipes for the food & beverage operation to monitor food quality.

Business Practices.

  • Creating the maximum rounds of golf possible while ensuring a pleasant experience for all who play.
  • Procedures are implemented to carefully monitor slow play.
  • Carefully monitoring staffing during slow periods.
  • Adhering strictly to budget considerations and adjusting staff hours.
  • Adhering strictly to accounting policies and procedures implemented by Signet.
  • Merchandising effectively and cost efficiently, with buying plan developed by Professional/Manager, in coordination with Signet.
  • Maintaining a perpetual inventory of merchandise and food & beverage at all times.
  • Actual physical inventories are taken monthly and compared to perpetual record to manage theft and spoilage.
  • Adhering to operating policies and procedures and quality standards implemented by Signet.
  • Conducting random, on site, inspections by Signet to monitor compliance with operating and quality control procedures.
  • Implementing food & beverage ordering procedures to control spoilage and inventory levels.

Golf Course Maintenance

  • Hiring of a qualified golf course superintendent and associated staff.
  • Preparation of annual maintenance budget.
  • Initiate environmentally sensitive Integrated Pest Management Program.
  • Monitor environmental impact of golf course maintenance practices in accordance with agency demands.
  • Establish daily programs and procedures to ensure consistent quality in aesthetics and playability.
    • Fertilizer and nutrient programs to complement the environmental conditions and plant varieties.
    • Establish a preventive program of pesticide applications; curative program when needed.
    • Maintain regular schedule of cultural practices, such as aerification and topdressing to maintain turf quality.
    • Regular monitoring and testing of soil conditions, turf grass vigor and water quality.
  • Establish job descriptions for employees to provide a consistent level of playability and service.
  • Monthly inspection and reporting by Signet agronomist.
  • Monthly safety inspections to satisfy OSHA and environmental regulations.
  • Establishment of preventive maintenance program and replacement schedule for equipment inventory.
  • Encourage and provide for technical training and personnel management as needed for the golf course superintendent and his staff
  • Provide for timely and professional maintenance of facility buildings, paved surfaces and other amenities to protect long term value of the asset.
  • Provide for quality installation and maintenance of landscape plantings on the golf course and clubhouse grounds.
  • Develop an annual capital improvement budget, based upon client expectations.

Marketing

  • Commitment is made to continual review and updating of marketing efforts.
    • Target markets (customer profiles and preferences).
    • Competitive analysis and positioning.
    • Marketing objectives.
    • Marketing strategies (specific promotional and advertising programs).
  • Revenue returns on each individual advertising campaign are closely monitored.
  • Responses to these campaigns are accounted for and alternative strategies implemented as needed.
  • Periodic on-site surveys to address specific marketing concerns regarding customer profiles and preferences, course awareness, pricing, etc.
  • A complete marketing plan is prepared annually for the upcoming year and submitted with the annual business plan for the golf course.

Financial Planning

Signet Golf Associates financially manages each of its facilities from one central location using a computer system which integrates the point of sale terminals at each location with its central accounting system, to provide efficient and effective financial reporting – daily, weekly and monthly.

Comprehensive financial services.

  • Five year projections of operating cash flow and accompanying assumptions.
  • Five year projections of taxable income.
  • Financing alternatives and strategy to maximize return on investment.
  • Market research and analysis to support projections.
  • Construction budget with supporting assumptions.
  • Preparation of annual operating plans including cash flow and balance sheets.
  • Weekly financial reporting presented in a concise format containing week, month-to-date and year-to-date actual revenue compared to budget.
  • Current week, month-to-date and year-to-date actual payroll compared to budget.
  • Weather conditions by day. Operational considerations, tournaments, aerification of greens, frost delays, etc.

Monthly financial reporting.

  • Written financial report accompanying the financial statements discussing current month and year-to-date revenue and expense results in relation to budget and prior year actual Management’s opinion of the forecast for the balance of the year and the impact on investor returns.  Discussion on the effectiveness of marketing programs.
  • Current month and year-to-date financial statements compared to budget and prior year actual for all departments.

Annual Financial Reporting

  • Issue annual financial statements in the same format as the monthly statements.
  • Coordinate annual audits of the financial statements.
  • Prepare and submit a detailed annual budget to the owners for approval.
  • Signet will prepare and submit an annual Business Plan to the owners for approval by October 1 each year.

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