This idea is a classic one. But, if you do not know many people and especially that golf, then this event may not be the best one considering the facility rental, turnout, sponsorship, etc. Basically, you would have to put out money to get back the investment and gain profit.
Adam Scott of Australia hits from the eighth tee during practice for the 2008 Masters golf tournament at the Augusta National Golf Club in Augusta, Ga., Tuesday, April 8, 2008. The Masters tournament begins on Thursday, April 10
For a different game of fun, have people chip into a cooler ontop of a floating tray. See the full set at Gayle Force Water Sports. We used the Float Rope, Saddle Float, Mattress and Cooler Tray. There were 60 golfers in our tournament. One got lucky and chipped into the cooler. He took home the whole set. (Golf Tournament Games, Chipping Games, Golf Games)