When running a golf tournament, it’s very easy to rack up the expenses. Of course, it’s understandable that you’ll want to spoil your guests with great gifts and prizes; however it’s not necessary to break the bank when doing so. Below are a few helpful tips.
P.S. you should consider before purchasing any gifts or prizes:
Reach out to your sponsors to see if they have anything they can contribute. It’s common for sponsors donate branded promotional items for your participants. Also, consider reaching out to local businesses or restaurants, as many will offer coupons or gift cards.
While sponsors may be willing to help you out a little, it’s highly unlikely you’ll get through your event without purchasing some additional prizes/gifts, so make sure you plan ahead for this. One of the most common mistakes that tournament organizers make is offering too low of a player fee. You’ll want to ensure that player fees cover both costs of the course and any gifts you plan to provide to the players. When deciding on a player fee, be sure to designate an extra $10 - $40 a head for gift purchases.
The best gifts are both memorable and useful to players, so it’s in your best interest to spend your money on some practical items that can be used during the event to enhance the overall player experience. I can’t count the number of times I’ve seen gift bags with pens, magnets, and other useless items left behind at the course. While filling a gift bag full of “gifts” is visually appealing, often times offering one or two useful items is much more appreciated by the players.
Items such as; golf balls, hats, ball markers, and even umbrellas can prove to be quite useful throughout the day. These items tend to be reasonably priced and when branded with the tournament logo or sponsor logos, they can add quite a bit of value to your event.
Another way to reduce the cost of your gift purchases is to offer some sponsorship opportunities that will cover some of these gift items. Some sponsorships you could offer include:
• Ball Sponsor: Sponsor logo on golf balls.
• Hat Sponsor: Sponsor logo on hats
• Tee Sponsor: Company name/logo on golf tees. This is a fairly cheap option so you’ll likely have no issue finding a
company to purchase this and your players will definitely appreciate the extra tees.
Remember, promotional items are typically priced based on quantity, so if you run multiple events during the year you may want to purchase items that would work for all of your events. If you only run one event a year, consider reaching out to other local events to see if there are some items that can be purchased together. This will without a doubt save you some money.
In order to ensure you are in the black, it is crucial that you follow a strict budget!
To help keep track of your expenses you can download our FREE golf tournament budget template.
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