Running a sports facility is very rewarding, but it can also be expensive and time-consuming once you consider things like maintenance, staff costs, and so on. You should know that the bottom line to running a successful facility, or any business for that matter, is earning money. So how can you do just that?
No matter how big or small your sports facility is, there are many ways to increase revenue. Here are some of them:
Run tournaments and leagues
Nothing gets people excited more than some competition! Try organizing little local leagues in which teams from your area can participate. For example, create a short tournament in the summer that kids in your area can join in. Kids would love coming down for sports and a burger, and they might even tag extra friends along. Make sure to invite parents as well so that you make more money on some extra burgers and coffee sales.
Rent the place to professional teams
Believe it or not, athletic teams (even the pros) are always looking for gym time for multiple days a week. If not often used, try renting your sports facility to professional teams that could certainly put them to good use. This can result in a significant revenue stream for your facility. In doing this, see to it that the facility is at par with professional standards to attract professional teams. Get in touch with your local tennis court contractor to see what adjustments should be made.
Ensure multi-use
How can your facility be used in other ways? You could conduct fitness programs and sports clinics in the facility.
- Homeschooling physical education (PE) credits – Did you know that home-schooled children still need to earn those PE credits? You could open a gym class or a summer sports clinic to help them obtain those grades.
- Adult exercise programs – Many adults want to stay in shape without the hassle of purchasing a treadmill for their homes. This is where adult gym classes can be useful. Yoga, dance, or an easy-to-follow calisthenics class—you name it, you’d be surprised how many adults would sign up.
- PE training for the Armed Forces – The Armed Forces sometimes require recruits to undergo training before entering boot camp. Make this open not only for military hopefuls but also for individuals who want to experience training like a soldier!
Strike sponsorship deals
If you watch any sporting event on TV, you’ll notice that advertisements are everywhere, from the scoreboard even to the players’ socks.
Stadium advertising can get a brand in front of hundreds to thousands of potential customers. And when customers see an ad in a passionate, high-energy setting, they aren’t only likely to remember it. They’ll also have a more positive association with the brand.
So this is why advertisers will pay good money even for that little space on the back of a toilet door.
In every business, the bottom line is essential. These are just four ways to increase revenue in your sports facility.