Creative Financing - PCIE

Creative Financing

We have a section on our website called creative financing. I know it’s far from self-explanatory, so let me see if I can give some color to this topic. 

Budget

We know that budget is a big piece of looking at new Golf Management Software, and quite frankly it should be the first thing you look at.

Statistics show that 39% of all golf courses are operating in the red. So it’s not like most of you have the luxury of operating on any kind of a budget at all. Many will have to make some hard decisions, and unfortunately most of you’ve made the decision to operate with the so called “zero fee” or barter payment model. Whatever you call it, it’s likely that you are grossly overpaying, but that’s already a well covered topic… so I’ll stop there. 

What is PCIE? (Price Controlled Inventory Exchange)

We created PCIE so that you had another way to pay for the services and even the hardware without having to barter or pay cash out of pocket.  In reality, PCIE really created itself out of necessity and has been our most successful payment option for the last couple of years. 

PCIE works like this.

The golf course decides to change the rate of a specific tee time through our tee sheet. The golf course operator selects the tee times and changes them to Course Specials. This effectively changes the rate (usually discounted) from the normal green fee rack rate. In doing so, this tells our booking engine to charge that credit or debit card immediately when that tee time is booked since it is considered a pre-paid special.

Golfers do make mistakes, and frequently book the wrong day, number of golfers, or just have a family emergency and cannot make the tee time. So we run those Course Specials through TeeQuest Solutions own merchant account. Why? To remove the liability of cashiers abusing their power with your merchant account.

So we take that off your plate and have your golfers call a TeeQuest 800 number to get a credit if there needs to be a refund.

This is where the necessity of PCIE was born. Since we were collecting the revenue for our current courses for their Course Specials, one of our courses approached us to see if we could just keep our fee, and reimburse them for the rest.

This solved two of their problems. 

1) They didn’t need to enter into a barter agreement with no cap on barter fees.

2) They didn’t need to pay cash out of pocket every month. Our fees were covered.

We liked the idea so much that we started to expand from there.

We now offer to let you prorate your fee and only pay us during your peak season months (typically March – October for Midwest states). Taking that a step further, we also offer to let you pay for your hardware via PCIE with a 0% financing for 24 months. It becomes an operating expense versus a capital expense.

So, when we say creative financing, we really do mean it. When it comes to financing, having options is better for everyone. To learn more, give us a call!