Country club changes how memberships are sold
November 7, 2014
For years, people hoping to join the Park Meadows Country Club had to pay hefty initiation fees set by the club. Last year, the cost was $38,000.
But that is changing. The club, at 2000 Meadows Drive, recently unveiled a new system to buy entry into the club from current members looking to unload their memberships.
Josh Carr, membership services manager at the club, said the system has allowed prospective members to join cheaper than at any point in recent memory. Since the system was implemented in October, members have been transferring their memberships for roughly $6,000 to $10,000.
"That price is determined by what (members) are willing to transfer the membership for and what incoming members are willing to pay," Carr said, adding that the application process and membership requirements remain unchanged. "It’s lowered initiation fees quite a bit."
Apart from granting access to the club at a cheaper rate, the new membership system is beneficial to those looking to sell their memberships. Carr said that previously, the club had to sell five new memberships to let a current member resign their membership, which often took a long time. But now, memberships can be transferred within days.
"We’ve had a great response from members on the resale list," Carr said.
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The club will make up for the lost initiation fees through monthly dues, Carr said. The expectation is that the new membership system will attract more active golfing members to pay dues, which cost up to $916 and help pay for day-to-day operations of the club. Currently there are roughly 250 active members, but the club would like to have 300 or more.
"What we gain in active members paying dues will be better for the overall health of the club and allows us to grow," he said, adding that many of the people looking to sell their memberships are not active members and don’t pay monthly dues.
The plan to grow membership is already working. Carr said that many of the 28 people who were on a trial membership this year have expressed interest in purchasing a membership through the new system.
And now is the time to do it, while transfer prices remain low, Carr said. Those prices are not set and could grow, depending on the market’s fluctuations.
"Honestly, right now is the best time to be looking into this club," Carr said. "Only time will tell when the market price is going to start to rise, but currently it’s just an outstanding value."