Michael - I've never heard of a club that got it absolutely right the first time. I pointed out DRGC certainly didn't and it wsn't just the course. Subsequent owners have little to do with Architect mistakes but rather the huge costs to build the infrastructure for a "National" club. The cabins, and clubhouses cost a fortune above the course and there aren't any lots to pay for it. It's 100% membership fees that pay the freight - the old way with new costs. Folks today don't like the cost and, yet, the bill must be paid. That is what hurt Dismal and others using the model - the non golf pieces were VERY expensive. Early on, Dismal was not a commercial or financial success. With no debt, we are getting there. Coincidence?
Another Sand Hills - Dick Youngscap built a national club but anyone who knows Dick will agree, he seldom wastes money. He finds the most cost efficient way to do things right. I love Dick as a friend and have learned alot form him. Dismal strayed from the footprints - they tried to go too fancy and alienated people along the way.
Sand Hills filled quickly as it was (1) cool and (2) not cost prohibitive to join. <<<Number 2 is as, or more, important as anything and we often ignore it here. Cool and expensive is...expensive.
There are two main constraints for further courses in the Sand Hills:
1. Shortage of people for staff - there are less than 1,000 people in Hooker County.
2. Cost to complete facilities for a national club.
The course is the least expensive component in this salad. If you want outside staff, you have to add employee housing. Dismal tried to do it all with a clubhouse to die for. They also built 78 beds for guests, 56 beds for employees, and a huge maintenance facility. We are lucky to have it all but there is no way we would have done it from scratch. That is what is impacting the model, people simply spent too much. I tried to explain that yesterday. Statistically, the first owner of a new golf club has incredibly low chances for financial success. It always costs MORE than you thought, members joined SLOWER than you thought, and the $$$ you can get for a membership is LOWER than you thought. I don't like it any more than you guys and believe people should work together for it may be the path out of the mess.
If you have the infrastructure fully in place + little to no debt, a second course is fairly inexpensive and is doakable. Stay tuned...