The good news at this point in the coronavirus news cycle is that we’re becoming accustomed to rapid change and a new normal of business operations, or lack thereof. As the saying goes, the devil is in the details.
Members join clubs for a variety of reasons, including golf, entertainment and networking, and in doing so, they become part of a close-knit community.
There is so much information out there, and it’s changing regularly, on the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Nonmember revenue can help advance, and impede, club growth. As the club industry continues to evolve between private member-owned clubs and public ones, the majority remain member-owned, focusing on the member’s experience rather than on public consumption. However, board of directors or governors of clubs are trying to fund operations without raising members’ dues while trying increase club use by nonmembers through offering nontraditional activities.
With the passage of the Tax Cuts and Jobs Act, the benefits of 529 savings plans have changed for the better! The IRS code 529 was modified to specifically include “enrollment or attendance at an elementary or secondary public, private, or religious school” so now parents who have 529 plans, and whose kids are still young, don’t have to pay for the education expenses directly.
Articles on the topic of food and beverage (F&B) losses come out so regularly they are like a bad record stuck on repeat. Sorry (I’m [...]