The Metropolitan Club of the City of Washington is a historic and adaptive club with a membership and reputation as notable as the city the club resides. The club was founded in 1863 and sits a block away from the White House with a stunning
We have both been businessmen, financial professionals and financiers over the course of our careers, so we are very familiar with the use of debt in a corporate setting. As it turns out, even that considerable knowledge and hands-on experience did not prepare us when
Our firm is often hired when a club has reached a crossroads in their strategic path and is seeking a deliverable strategy that has not yet been executed or defined. As a rule, we do not own, lease, or invest sliver equity in the private
Before I took on my current role as CEO of Club Benchmarking, I served for 17 years as President and General Manager of a large, gated community club in Naples, Florida. I clearly recall sitting in my office reading a story in an industry trade
In terms of FAQs related to club finance, the volume of inquiries we get about debt is second only to questions about food & beverage profitability. The most common question on debt is “how much debt is appropriate?” Discerning the answer to that question begins
Every club encounters challenges over the course of its history, regardless of size, location, service level, culture or the scope of its amenities. The difference in outcomes—whether they are positive or negative—is determined in large part by how the club responds to those challenges. Are
The Employee Retention Credit (ERC) is a refundable credit designed to encourage businesses, including social clubs, to keep employees on their payroll during the COVID-19 pandemic. The ERC was initially created by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). It was later
Do you cringe before looking at your club’s annual health insurance renewal? You know you’re getting hit with another increase; it’s just a question of how much. You ponder changing plans, switching carriers, asking more from the employees, or finding more money in the budget—all
The Club Leadership Alliance (CLA), co-founded by McMahon Group, Kopplin Kuebler & Wallace and Club Benchmarking, has a vision for the industry of transforming the club leadership model through widespread understanding and adoption of the best practices that lead to sustained club success. Those best
Finally, with the tumultuous year 2020 ended, Dan and Bob appear to agree about something! In a recent article, “The Case for Stakeholder Capitalism,” McKinsey & Company postulates that the time has come for U.S. businesses to broaden the missions of their businesses to include