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Triple f health club group 2

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Triple f health club group 2

  1. 1. Triple F Health Club Group 2 Kelly Cornett, Jenna Dietrich, StacyGerke, Jean Gilles, & Michelle Martin
  2. 2. Outline • Evaluating the Membership Structure • Revenue Projections • The Effects of New Membership • Additional Analysis • Advantages of Implementing a New Membership Plan • Conclusion
  3. 3. Evaluating the Membership Structure • Consider cost, reception of new clients, & rate of return • Planning ahead for shortages • A fee schedule analyzes shifts in income
  4. 4. Evaluating the Membership Structure • Increases in cost from hiring and training new staff, purchasing supplies, updating marketing materials • Factors will shift the bottom line • Understanding buyers
  5. 5. Schedule 1: Revenue
  6. 6. Schedule 7: Cash Receipts
  7. 7. The Effects of New Membership • A new fee schedule = Consistent stream of income • Allowing for ebb and flow of revenue • Reduction is time and costs of staff and training
  8. 8. What canTriple F Health Club do to go beyond budgeting? •Forecasting, rolling forecasts •Balanced scorecards •Customer relationship management •Benchmarking •Shareholder value models •Enterprise wide information systems •Activity based management
  9. 9. Forecasting Compliments Budgeting • Bottom-up exercise tool • Implement rolling forecasts by creating them every few months to roll beyond the year-end. • Forecasts will include theTriple F Health clubs key variables. • Forecasting will improve budgeting for the future.
  10. 10. Advantages of Implementing a New Membership Plan • Allows for planning of future revenue • Lays ground work for possible additional revenue based on membership level
  11. 11. Disadvantages of Implementing a New Membership Plan • Creates a significant increase to marketing and other resources • Current clients will be affected by the change
  12. 12. Conclusion • Cost, clientele, and rate of return were taken into consideration • Review of business changes and what alterations would take place • Revenue projections observed • New membership effects
  13. 13. References • Braun, K., &Tietz, W. (2015). Managerial accounting (Fourth ed.). • CEO to CEO: Pros and cons of yearly versus rolling membership cycles. (2014). Retrieved from http://www.asaecenter.org/Resources/AMMagArticleDetail.cfm?ItemNumber=11385 • Chartered Institute of Management Accountants. (2004). Better budgeting or beyond budgeting? proceedings from better budgeting forum. London, England: Neely, Bourne & Adama. Retrieved from http://www.cimaglobal.com/Documents/ImportedDocuments/betterbudgeting_joint.pdf • Napoletano, E. (2015).The pros and cons of a member-based business model. Retrieved from https://www.americanexpress.com/us/small-business/openforum/articles/pay-to-play-pros-and-cons-of-a-paid-membership- based-business-model/ • Prepare a Cash Budget. (2010). Retrieved from https://www.tdbank.com/small_business/workshops/CashBudget/textcash_bud.htm • Rate of Return. (2005). Retrieved from http://www.investopedia.com/terms/r/rateofreturn.asp

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