Like Tiger and others, I've been out of the field looking in for many years. My initial interest was in the development of a daily-fee course which could be built economically, then enhanced through time with cash from operations. In the mid-'90s, I found on a wonderful site, raised the funds to purchase it, but was thwarted by the city where it was located. Eventually, the city itself purchased the land, and built a nice municipal course and multi-sport complex. The course itself has failed to perform for the city, but 10+ years later, I still wonder what it could have been. My wife, a more practical person, tells me to thank God for unanswered prayers.
With the glut of new construction, I began looking for investment opportunities in golf. There have been a few that peaked my interest, but on a risk-adjusted return basis, I have only come across a couple that made any sense, and neither provided sufficient control.
Realizing more and more that the grass always seems greener on the other side of the fence, I am coming to the conclusion that golf will always remain a leisure activity, an avocation to me. While I am no longer a national rater, I still serve in that capacity in Texas and this gives me the opportunity to see some wonderful new courses and meet many outstanding people in all facets of the industry.
There seem to be two types of people in the golf industry: those who really don't want to be in it but for a variety of reasons believe they are without options, and those who love it and despite all the negatives, can't see themselves doing anything else.
We've all faced the assistant pro who will barely look you in the eye at the counter and can't get rid of you fast enough. It seems like most shops have at least one, and if the head pro is of the same mindset, the attitude spreads like a wild fire.
Yesterday, I went to pick up a couple of books from an architect whom I've known since the early 90s. I had intended to spend maybe five minutes to exchange pleasantries as both of us had other commitments. Well, half an hour later we're still discussing his work, other courses, and various related topics. No doubt that this fellow loves what he is doing, which in no small way accounts for his considerable success in a difficult market.
One of my heroes is a retired pilot who flew for Delta during that airline's glory years. He is an excellent golfer, snow skier, husband, father, and all around good guy. While some other pilots I knew complained about their routes, planes (some would say it was like driving a bus), being away from their familes, my friend once told me that on the days he flew, he woke up with excitement and couldn't wait to get to the airport early enough. Even after many years of flying, he took no shortcuts in his preparations and kept foremost in his mind the great responsibility for the safety and well-being of his passengers. BTW, nearing the age of 70, he won the regular and senior championships (separate events) at his home club. He is also one of only two competitors in the field at both USGA Senior Amateur championships played at Bel-Air CC.
Very similar to the teaching profession, possibly due to market forces and the laws of supply and demand (low barriers to entry), a number of positions in the golf industry don't offer great pay, an easy schedule, and always pleasing working conditions. Those who do well seem to take it as a vocation or calling. And though relatively few proportionally, there are many in absolute numbers who are happy with their lot and can't imagine doing anything else. Like my pilot friend, these are among the most fortunate people we will ever know.