Identification and understanding key drivers within your business is the key to making timely and more informed business decisions. Below is a short description of five key drivers within golf course reporting:
- Yield. In golf there are many different price points across many different areas of the business. Understanding what each of these points is worth to you on a per unit basis gives you a greater understanding of the value you are offering your customers. What is the per unit value of each commodity you offer worth to your business?
- Utilisation. Utilisation is generally thought of in usage of tee times. However, it can be used across many other areas such as your cart usage, driving range, or pro shop sales. Knowing where utilisation is lacking provides opportunities to engage in more ways with your customers. When and how is your facility being used?
- Secondary spend. Your primary business is selling tee times, everything else is secondary spend. Knowing where your secondary spend is coming from and where it can be improved is vital in adding value to the bottom line of the business. How much are your customers spending within other areas of your business?
- Wages. Labour is generally the largest expense a business can incur. Understanding where your labour is deployed and the value provided to the revenue coming through the till lets you achieve that balance between too much and not enough. Do you have a system in place that allows you to track your labour movement and make timely adjustments?
- Customer experience. Non-financial indicators such as customer satisfaction allow you to get a feel for how customers interact with your business. Understanding the customer experience can be an early indicator of opportunities or threats that may exist within your business. Are you providing the ultimate experience through all customer touchpoints within your business?