FCC White Paper Report

IV. Comparative Analysis with Competitive Clubs We do not exist in a vacuum, and prospective members have many options to consider. Twenty years ago, FCC’s primary competitors were clubs in Collier County, such as The Club at Mediterra and Pelican Bay. The following are a few attributes that potential members consider. A. Density a. Advantage—Fiddlesticks is uniquely positioned as one of the only clubs in SW Florida with fewer than 750 front doors, thirty-six holes of golf, seven tennis courts, eight pickleball courts, two Bocce courts, and a fitness center. b. Challenge - The low-density number of members for the number of amenities creates funding challenges. B. Membership Costs a. Such low density would be expected to command a premium price, yet FCC annual costs remain low compared to the competition. i. From an amenity perspective, Fiddlesticks has one of the lowest annual costs of clubs in SW Florida, with less than 750 homes, thirty-six holes of golf, eight pickleball courts, seven tennis courts, and a fitness center . ii. Without regard to amenities, Fiddlestick's annual dues are near the median of all SW Florida clubs. Fiddlesticks has invested $11.3 million in clubhouse, cabana, and fitness improvements over the last twenty years. Of this amount, $1.9 million (an average of less than $100k per year) was spent on the clubhouse. iii. While this investment helped drive higher membership interest and home sales, it pales compared to investments other clubs in Lee County made over the same period. Newer local clubs have invested heavily in updating their facilities without the burden of meeting current building codes and safety issues. In addition, unlike Fiddlesticks, most have had a source of capital to fund aspirational capital projects, as member joining fees have provided a source of capital. C. Quality of Facilities - i.

12