Lawrence County Country Club, a Bendelow where I have been a member for 40 years, is a nine hole course with zoysia fairways and has a maintenance budget of under $100,000 including salaries and capital expenditures. Throwing out economy of scale which would be achieved through 18 holes I will simply double that number to $200,000.
There is no reason in the world for any super to make over $35,000 per year in a seasonal climate with adequate support staff at around $10/hour down to minimum wage. It is also simple to find older members who will cut grass and this and that for reduced fees or free carts. Total labor should never exceed $100,000 which leaves ample money for fuel, equipment repair and very few chemicals. This is a real world example in that we have a club with 200 members who pay $480/year in dues. We once considered, and voted down, going to 18 holes because at most 10% of the membership would pay $1000/year for a private club. btw...We all own our own carts for an additional $100/year trail fee.
Answer - $200,000 is an adequate budget.