Club Directors understand the importance of efficiently managing your organization and striving to improve your club’s financial performance by reducing expenses and increasing revenue. To help you reach these goals, check out the five strategies below to boost your club’s bottom line.
1. Payment Processing Fees
Significant savings for you and your customers can be realized by switching to lower cost ACH payments instead of more expensive credit card fees. Question: Are you currently offering customers the option of paying via ACH?
2. Multiple Vendors
How many different vendors are you paying to handle registrations, scheduling, public websites, marketing, communications, player evaluations, tryouts and a mobile app? If your answer is more than one, it’s too many. You can eliminate the need for additional resources by switching to a full-service, all-in-one platform. Key Tip: Eliminating multiple vendors also saves you the significant labor cost of your people managing different systems and sets of data.
3. Administrative Efficiencies
How much time do you or others in your organization spend on tasks that could be streamlined, automated or eliminated? For example, think about the time spent by admins, coaches or team managers entering team rosters and schedules into multiple websites and apps. If your people are spending time on duplicate data entry, managing multiple systems, filling out paperwork manually, emailing forms, or other administrative tasks, you can save 20% to 50% of their time or more by switching to an all-in-one platform. Key Tip: Reducing time spent on administrative tasks frees up coaches and managers to spend time on more important jobs like training your players and growing your club!
4. Bad Debt
If you are like most clubs, a lot of money goes unpaid by your customers every season. Instead of writing it off or spending countless hours tracking down customers, you can significantly reduce your delinquent accounts receivable by using a club management system that automatically sends out emails and alerts to families with overdue invoices and can systematically enforce “no pay, no play” rules after a selected number of days. Question: How much bad debt did you write off last year?
5. Maximize Revenue
There are many opportunities for maximizing revenue that often go untapped at the typical club – from marketing campaigns to attract new players, to cross-selling camps and clinics, to making it easy to collect donations. Key Tip: Find an all-in-one club management and marketing platform that offers built-in tools, modules and services to easily take advantage of these revenue opportunities.
By focusing on these key areas, you can improve your club’s financial health and set your club up for long-term success. For more best practices on running a youth volleyball club, reach out to Sprocket Sports. Sprocket Sports is a modern, all-in-one management and marketing platform designed to help clubs reduce operating expenses, increase revenues, build their brand and engage with families. Learn more at sprocketsports.com.
View additional resources to help you run your volleyball club.
