If you have a youth sports club, then one of your priorities should be to secure the best coaches you can find. But there are other priorities to running a youth sports club, including getting the players, the facilities, and the equipment you need, and all of these priorities have one vital requirement: funds. You need money in order to get your club going and have it run throughout the year, and your budget should also include all other essential expenses like the salaries of coaches, league fees, the cost of equipment, and so on. It’s critical, therefore, to set a realistic and feasible budget for your club while making sure you remain as competitive as possible. But how can you ensure that your budget is planned well and set accordingly? Here, then, is your all-important guide to setting a budget for your youth sports club.
Determine your fees
One of your first steps in terms of creating a set budget is to determine your fees. Fees are a requirement, and the fees you set should cover your expenses for game facilities as well as officials. It’s your responsibility to make sure that payment is prompt because you can only register once you have all the fee payments you need. You can make it so much easier for yourself by taking advantage of club management software, which can already include payment prompt features such as the sending of payment reminders and invoices, and you may even create a direct debit payment system that helps you pay your fees without any difficulty.
Set your fees for coaches and facilities
Your sports club players will definitely require practice in between each game, and this means making sure you secure the courts, fields, and any other facility they need. You can then determine the expenses required for practice and include these fees in your budget. Additionally, you need coaches, and while some may volunteer, others will need a salary. Factor this in as well and compute their overall wage along with the number of actual coaches you need and their terms of payment.
Figure out the costs of tournaments
If you are planning to join tournaments (and this is definitely recommended to make your sports club a lot more fun), make sure to figure out the cost of joining such events. Set aside a yearly tournament budget and determine the number of tournaments you will join based on this budget. Remember that tournaments will have fees for registration, and, based on the location of the tournament, you may have to factor in lodging and travel expenses as well. If you are planning to host a tournament, it’s best if you come up with a different budget for this event, especially since your expenses may be substantial and you will have to collect fees from all the teams participating in the event; in other words, manage the tournament separately from your standard budget.
Determine your uniform and equipment requirements
For your club to be competitive, you need the proper uniforms and equipment. Assess which equipment you need to replace or add before your season begins, and make sure to factor in the cost of good uniforms, as uniforms can be quite expensive. Good luck, and remember to have fun!