Education-Insights on 2024 Election Results & Private Club Metrics
EDUCATION SESSION
Tuesday February 18th
Metuchen Golf & CC
244 Plainfield Road
Edison, New Jersey 08820
Registration: 10:00 AM
Programs: 10:30 AM
Lunch Following
Session I
The 2024 Election Results:
What Do They Mean for You and Your Club?
Brad D. Steele, J.D.
Founder of Private Club Consultants
There is no doubt 2024 will go down in history as an unprecedented election year. With the dust settled, what does it all mean for the growth and prosperity of the club industry?
In this presentation, we will delve into what happened in the presidential race and why. We'll also look at the Administration's legislative priorities as well as federal regulations that will likely impact clubs in early 2025.
Additionally, we will review key House and Senate races that determined control of Congress, and we'll discuss what Congress will do regarding tax policy, labor and employment law, immigration policy and environmental issues over the next two years. The election results will bring major changes to Washington, which will mean major changes for clubs, their members and staff. This program will help you prepare for what could be an interesting time for private clubs in the years to come.
The session's learning objectives are to:
1. Identify the main legislative and regulatory issues likely to impact clubs as a result of the elections,
2. Examine the new political dynamic in Washington as it relates to our industry's goals and needs, and
3. Provide industry leaders with the tools necessary to help protect and advance the industry moving forward.
Session II
Private Club Key Performance Indicators
James Hankowski CPA
A deep dive into key financial performance indicators (KPIs) for the private club industry is essential for understanding a club's financial health and making informed, data-driven decisions. By focusing on the KPIs that matter most, club managers can help ensure their clubs remain financially strong and competitive. Drawing on data from nearly 400 private clubs, including those in New Jersey, this discussion will explore KPIs that are broadly applicable, while also addressing regional nuances where relevant.
While no two clubs are exactly alike, financially successful clubs often share common traits: well-managed debt, high member retention, efficient cost and capital management, and a focus on long-term financial sustainability. Recognizing that data—along with factors like the current economic climate—is a key driver of decision-making, managers should regularly review these KPIs, benchmark against peers, and leverage this information to guide strategic decisions. With a clear understanding of these key metrics, club managers can safeguard the financial health of their clubs and cultivate a thriving, sustainable environment for their members.
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