Want a new club? Let’s remove the barriers.
A new club, cash in the bank and diversified revenue streams sounds great for any club and is achievable for many through a club redevelopment, however while achieving something great is often not straight forward, the chances are that most of the challenges your club faces are not unique.
Have a look at some of the common concerns expressed by club leaders below, you might find them familiar.
Do you have:
- Concerns about development damaging the club’s trade?
- Members that will challenge the process and its probity?
- Developers approaching the club?
- A developer saying if you don’t act now you will miss out?
- Insufficient time to run the club properly as well as manage a property project?
- Difficulty knowing where to start?
The good news
Although it’s not easy to achieve great things, it is possible. Proven solutions are available that will effectively deal with each of these issues even in the most challenging club environment, and they will work at your club too. During the first few months of 2021 we will look these concerns and associated solutions in more depth, starting with the examples below.
Developers pushing you to act now
If a developer has approached the club or you’re already in talks, they will be pushing you to sign a binding agreement ASAP. You don’t know with absolute certainty that the developer’s offer is the best you can do but you’re concerned you may lose the offer if you don’t sign it. Many developers will say and do anything to avoid competition because they know it will mean they will have to pay the club more.
An expertly managed competitive process will sort that out. It will shift the power in the negotiation to the club and you will know you’ve achieved the best possible deal. If the developer you’re talking to is the best one for the project that will become clear during that process, so you’ll end up with the best deal in any event. Keep in mind that if one developer finds your property attractive plenty of others will too.
To learn about why only some developers are of value to your club read our blog Not all developers are created equal – why character matters.
Insufficient time to run the club and the project
A club redevelopment can put club executives under pressure from two perspectives. Firstly, you’re expert at running a club and probably not at property development. Secondly, running a club and a development project are both full time jobs, and it’s not fair or possible to for a GM to do both jobs for one salary.
Done well, an advisor will absorb the effort, time and expertise required to manage the process and arm you with the information and language to make informed and efficient decisions.
To learn more about how we can help you overcome the challenges of your club property development and get a great outcome please contact us on (02) 9966 8898 or email [email protected]