- Offer rewards and incentives
Why not take your lead from the high street coffee shops and offer one cup free with every so many purchased? Perhaps offer one fitness class free for every five attended. You get the idea. Price reductions and rewards are great ways to boost revenue, especially during off-peak times when facilities might otherwise be unused.
- Leagues and tournaments
We all love a little bit of healthy competition and there’s no better way to inspire participation by adding in a bit of competitiveness. It doesn’t need to be anything too fierce, just fun, like a kid’s tournament during school holiday mornings. Encourage parents to hang around and increase your coffee sales at the same time!
- Sponsorship
Any sports event on TV is awash with advertising, from the court sides and players’ clothes to the pitches and merchandise. Businesses will pay for poster space on toilet doors, a corner of your website and the sides of your pitches, so explore the options available to you locally. You could be losing out on a steady revenue stream by not engaging with local business sponsorship deals.
- Expansion
Is the weather negatively affecting your participation levels? If there are any activities that are exposed to elements and as such, prone to last minute cancellation or irregularity, you should seriously consider a cost-effective structure that means you can continue to offer all the facilities you want to all year round. Keep your courts and pitches protected and always available with Fabric Covered Buildings. For more details on Fabric Covered Buildings, contact Spatial Structures.
- Memberships
Memberships are a great way to secure a commitment from customers and benefit from beginner’s enthusiasm! You can offer a range of signed up memberships from 3 days to one year for example. Unlimited class options are also very attractive to new members, who believe they will attend every class possible when in reality, they probably won’t.
- Coffee
Your passion is sports management and not coffee, however, many venues make more money from coffee than they do from coaching. The most highly marked up item in the world is cinema popcorn, with a mark up of over 1000%. With that kind of revenue, they almost don’t need to sell any tickets! Coffee might not be your passion, but why not let it pay for it?
- Off-peak revenue
A large proportion of each weekday, during school term-time, will be quiet. When most people are at work and school, you need to tap into a different audience. Why not market to retirees, stay-at-home parents, shift workers and home educated children? These are the groups of people most likely to benefit from your quiet off-peak times.
