‘Tis the season for private club budgeting! But unlike the holidays, few General Managers will have a cheerful pep in their step at the thought of reviewing F&B revenue or inspecting this year’s inventory management. Last month I talked about taking the pain out of the budgeting process, but this month I want to acknowledge an essential expense that many clubs are tempted to skimp on: The Future.
Compared to that raise key staff members are demanding or that bunker that needs replacing, it can seem extravagant to spend club dollars on something as abstract as the “The Future.” But some internal expenses are essential to creating a functioning club – and maintaining a healthy bottom line.
So what costs are necessary to maintain a high-functioning private club? Is there any way to cut down these essential costs? I’m glad you asked.
No private club budget should be drafted without considering…
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