The Strategic Planning Ad Hoc Committee and Finance Committee both unanimously recommended that the Board increase the Initiation Fee from $20,000 to $30,000, effective October 1, 2016. The Board unanimously approved this recommendation at its meeting on Thursday, May 19.
Woodfield is joining the party with other Boca Raton/Delray Beach Country Clubs raising their initiation fees. The next strategic move on part of a Club is to reduce the equity refund. Right now the least expensive equity is Sports at Woodfield CC which runs $38,000. The refund at this time is 25%, which has been lowered from 50% in August 2014.
Moves like this sometimes help increase sales because the least expensive buy in option is $20,000 initiation + $38,000 equity = $58,000. Come Oct 1, 2016, the buy in jumps up to $68,000 for the same fabulous country club lifestyle.
