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Economic Trends Affecting Clubs

Economic Trends Affecting Clubs. H ilger F lick & C o. 610-783-5772 www.HilgerFlick.com . It’s just not the economy…. Overview Club Trends Membership Trends Increased Competition Lifestyle Changes Corporate Re-structuring. The 2008 to ……. Economic Downturn. Impact on Clubs:

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Economic Trends Affecting Clubs

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  1. Economic Trends Affecting Clubs • Hilger Flick & Co.610-783-5772www.HilgerFlick.com

  2. It’s just not the economy… Overview Club Trends • Membership Trends • Increased Competition • Lifestyle Changes • Corporate Re-structuring

  3. The 2008 to ……. Economic Downturn Impact on Clubs: • Memberships • Resignations • Leave of Absence • Downgrade Membership category

  4.  How is this economic downturn different from past economic downturns? • Member demographics • Decline in 401(k) value • Discretionary Income “The Higher end Clubs are faring OK, lower tier Clubs are struggling”

  5. Impact on Operations • Your Club’s Financial Position • 2008 – 2009 Budget Process • Net Operating Income • Capital Expenditures • Long-range Planning • Financing • Cash Flow

  6. Impact on Revenue • Dues Income • Initiation Fees • Member Activity Revenue • Party and Outing Revenue • Late Fees, Unused Minimum • Collections

  7. The Emergency 2008/2009 Budget Meeting • Projecting Membership • Projecting Sales / Fees • Reducing Expenses

  8. How Clubs are responding to the Trends • Attracting new Members • Reducing Initiation Fees • Trial Membership • Incentive Program • Retaining Current Members • Serving the needs of Members • Improving the facilities for the Members • Providing good value

  9. Increasing Revenue • Member Dining • Member Functions • Activity Revenue • Discounts • Parties • Outings

  10. Decreasing Expense • Maintain Level of Service • Hours of Operation • Payroll • Benefits – Health and Pension • Operating Expenses • Repairs / Capital Expenditures • Cost Control

  11. Future Trends and Positive Signs • ““Professional Management is more important that ever and you need to be creative”.

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