Introduction In addition to comprehensive management services, golf course owners can tap into Touchstone's expertise in specific areas through our Advisory Services. We offer our Advisory Services in packages including hourly, fixed fee and retainer-based arrangements. Golf courses that do not have the ability to engage a management company, either due to cost or preference, can still benefit from Touchstone's capabilities by selecting from a range of consulting engagements or customizing their own. Property Assessment Engagement Our popular Property Assessment Review ("PAR") is used when an owner, or prospective owner, needs an overview of the golf course, its market position, Strengths/Weaknesses/Opportunities/Threats ("SWOT") and recommendations on a strategic plan for the golf course. Our PAR engagement includes preparation of a pro-forma operating statement based on our strategic recommendations for the property. The report is delivered in a format that readily facilitates management's ability to implement the recommendations. Priorities can be set so that immediate results and "quick wins" are achieved. PAR engagements can be with or without a stated preference for the strategic direction of the golf course and can be prepared in a limited or regular documentation format providing a solution for all budgets. Property Valuation Report Many golf courses appraisers lack the in-depth operating knowledge of Touchstone and fail to fully understand the market value of a golf course property. Our Property Valuation Report ("PVR") is a comprehensive report designed to establish a true fair market value of the golf course based on financial performance, financial potential, competition and demographics of the golf course market. Touchstone's PVR report includes extensive graphs, charts and other useful tools designed to provide real insight into what a golf course property is worth in today's market. Departmental Review Many golf courses are performing up to an owner's expectations in most areas, but are failing to achieve expectations in one or more specific departments. Our Departmental Review services allow the owner to select the departments that need help and assess the SWOT in these areas resulting in a recommended action plan and the expected financial results of such plan. Our report will not only address the specific department, but what impact the recommended action plan might have on other departments to avoid any potential conflicts. Examples of departments that we have reviewed include: Food & Beverage, Maintenance, Merchandising, Golf Operations, Tournament Sales, Membership Sales, Marketing, Accounting, Human Resources and Non-Golf Departments (e.g., swimming, tennis, etc.). Financial Benchmarking Report Owners seeking to understand how their golf course is performing relative to the national or regional golf course market will benefit from the benchmarking of their golf course against the most recognized source of industry performance data, National Golf Foundation statistics. As an NGF member, Touchstone will take your financial data, format it to accurately benchmark the golf course against NGF data, and prepare a variance analysis with basic explanations on where the golf course is underperforming or overperforming relative to the industry. Mystery Shop Service Touchstone will perform a "mystery shop" of your golf course and report to you on the performance of your facility and its personnel on a wide range of measurements including telephone answering skills, customer service, understanding of products and services, physical review of the property and other factors. We will perform one or more visits to the golf course at your choosing using our personnel and reliable evaluators we engage, starting with the reservation process, checking in, purchasing or asking about services and playing the golf course. This service is particularly beneficial for absentee owners who may wish to gain insight into how the golf course is being perceived by customers. This service can also be customized for specific departments or products, such as tournament or catering sales. Custom Engagements In addition to our standard reports, owners can customize our consulting engagements for a wide variety of needs or combine multiple services for a consulting engagement that fits the specific property.