Expenses are monies leaving your organization for an item or service. Managing expenses is an important part of keeping a youth sports organization afloat. There are three main types of expenses:
- Field Usage/Maintenance – This is the cost of renting a field or facility or maintenance of an owned field.
- Player Development – If a club is going to try to provide the best place for their players, an outside source may be needed to come in and train coaches and/or referees.
- Miscellaneous – This is the cost of things like insurance or equipment and supplies.
With more and more kids playing multiple sports and many seasons, parents can be put off by the combined cost. Keeping your registration fees low will keep your participation levels high and parents happy, but it will also mean you need to keep your expenses under control.
The key with expenses is to be organized and detailed. Here are some suggestions:
- Constantly track and evaluate your expenses to be sure you get the best deal(s).
- Generate additional revenue from other sources such as donations or sponsors.
- If you belong to a state or national association, find out if you can use them to get a group rate for equipment or insurance.
- Publish your expenses to your membership - this can show parents that you are using their money wisely. And who knows… maybe a parent can help you get better uniforms at a reduced rate!
