Financial

Regardless of the size, a club is a business and needs to be run as such. While some are controlled from a shoe box full of dollar bills in a ramshackle shed somewhere, others have full time financial staff, annual budget plans and audits. Recording incoming and outgoing funds are vital to make sure that your club is making the right decisions and staying financially viable. Having a plan with predictions for future revenue and expenses allows you to be better prepared at the various times of the year. Below we talk about important steps clubs should take to have at least a basic grasp on their financial survival and growth.

Budget

Your club is probably a non-profit entity: many are required to be by their state association. A requirement of being a non-profit is that you produce an annual report to the state in which the club resides, outlining your transactions throughout the year. These also need to be made available for your membership if they are requested.

 

Revenue

For a typical club the majority of revenue comes from your players through their registration fees. Added to this might be money from tournaments and partnerships/sponsorship from businesses and other groups. It is very important to have a good understanding of where your revenue balance is and what you need to prioritise maintaining and growing in order to survive and build. Often clubs get excited about adding tournaments or golf events and spend a large amount of their staff time and marketing budget promoting the event, only for the actual profits to be relatively low in comparison to the revenue they could have had from targeting increasing their membership. Even if your event is successful, keep in mind that there is unlikely to be a guarantee of it repeating next year. Building a strong relationship with your players through quality coaching and communication should help to lock in revenue streams for the club over multiple years for your core registration revenue source. Positioning sponsorship and tournament revenue as bonus money for specific projects, employees or equipment allows you to benefit from them but not fold if they fail to produce.

Registration Fees

 

-Registration Fees

– Fundraising – http://socceranywhere.com/club/club-fundraisers/ and tournament as a fundraiser http://socceranywhere.com/club/club-tournament/

– Sponsorship

Expenses

– Scholarships

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