Most club have a lot of member data: club departments know how many dining reservations each member has made, the number of golf rounds played, the special events and services that each member uses. But how many clubs make this information actionable in real time
STAFF COMPENSATION is the largest expense in any club. In fact, industry data shows that at the median, 55 percent of a club’s total revenue goes to payroll. While distribution of labor expense among the club’s departments does vary somewhat based on club type, food
A negative pledge is an arrangement made between the club (borrower) and the bank (lender) whereby the club will pledge not to encumber or sell the club or refinance the loan without the approval of the bank. It gives the bank more control over the
According to data from Club Benchmarking, the median Net Available Capital Ratio for clubs is 11 percent. However, just like any other data point, this statistic must have context before it can be put to work in the decision-making process. Like Plato said, “A good
Data is critical to effective club governance. It can provide key information to help clubs determine the best course of action and avoid conjecture that can produce negative results. Over the last handful of years, my focus has been on understanding the club as a
HAVING SERVED AS PRESIDENT OF THE WESTMOOR CLUB’S BOARD OF GOVERNORS for the past several years, I have grown to appreciate that at the very core of a successful club are clearly defined, strict procedures for overseeing a club’s finances and subsequent long-term financial health.
In reviewing financing for proposed capital expenditure projects, clubs consider the following alternatives: Finance from operations. Those fortunate clubs that have funds available from operations for capital expenditure projects can use this most favorable option. Usually, this is not the case. Assess the membership. The
Golf Course Industry magazine recently released its “2016 State of the Industry Report,” which includes golf superintendent surveys results that point to major trends in the game and its operations. Below are financial and labor findings from the report. Financial Golf facility profits regressed slightly in
Q: What are some of the best practices for hiring club employees? Are background checks necessary? A: From a financial perspective, the cost of a bad hire can be considerable, from the amount of time and money spent on hiring the individual to the unnecessary disruption