Editor’s note: This article was previously in the spring edition of NCA’s Club Director Magazine. Stephan Johnston is a founding partner of GGA Partners.

Private club leaders face a dual challenge when planning for capital needs: preserving the integrity of existing assets while strategically investing in facilities and amenities that will define their future relevance.

Member expectations and experiences continue to rise, influenced by generational transition and higher initiation fees. As a result, the approach to capital planning must evolve. It cannot be reactive or limited to like-for-like replacements. Effective stewardship requires rigorous financial discipline and a keen understanding of member priorities, industry trends, and…