Venue operational improvement |
Venues form a central element of many sports organisations’ strategies. As one of the biggest assets over which you have direct control, the benefits of focusing on it as a profit generator rather than purely as a cost centre can be substantial. Our approach to operational improvement ensures you have the tools to maximise the potential from your venue, in whatever situation and configuration, to produce the greatest benefit for you.
In addition to assessing the potential to generate incremental revenues from the venue we do not neglect the cost side of the equation as we believe there is a balance to be struck to really produce a tangible return.
Some venue specific areas of the business where we offer advisory services include:
- Ticketing
- Hospitality
- Catering – tackling issues such as maximising spend per head, service delivery standards, and performance measurement
- Sponsorship and commercial rights – assessing your inventory and ensuring all venue-related opportunities are being exploited
- Non-event day usage – assessing the venue’s ability to generate a return through diversifying activities and how best to implement through marketing, sales and delivery
- Operating cost – appraising whether the venue is optimising operating costs as well as assessing the cost impact of revenue enhancement opportunities
In all of the above areas we use techniques such as:
- Quantitative research
- Qualitative research
- Peer group benchmarking
- Cost-benefit analysis
- Outsourcing versus in-house appraisal
- Key performance indicators and balanced scorecard development
- Risk factor identification and mitigation strategies
If the most appropriate way for you to maximise the return from your venue is to consider redevelopment or relocation you can view the services we offer in these areas here.
