A stadium is a very different type of business when it comes to managing expenses. There are also other large venues such as concert arenas which pose different challenges than managing the costs for an office of 5 people. Accordingly, here are some tips on how to streamline business expenses for a stadium or other large-scale venue.
Cut Energy expenses
The energy costs for a stadium can get very expensive. While you’re not likely attempting to heat the whole stadium with an under-seat heating facility similar to inside a car, there are still large rooms that will require heating to make them usable. It’s possible the stadium even has under-soil heating systems which are not so common, but the large clubs are adding them now.
No one wants to worry about players complaining because the team rooms are too cold. So, it’s necessary to be generous with the heating, especially when players are toughing out a cold afternoon on the field in wet conditions.
To make that more affordable, look at pricing specially tailored for stadiums. A comparison site like Utility Bidder – found at https://www.utilitybidder.co.uk/ – is one option to check what energy providers cover your part of the city and whether a better deal can be found.
Using More Efficient Ticketing Systems
Not every stadium has upgraded to the latest online booking and ticketing systems for visitors once they’ve arrived at the venue. See if there’s a way to upgrade to a modern system that will speed up getting people through the turnstiles and into the stadium to the seating areas.
While the upfront cost to switch to a new system is significant, it may be possible to reduce the number of staff needed to process all the arrivals once it’s installed. In which case, any new computerised processing could pay for itself over the next few years.
Putting Security Contracts Out to Tender
Look at the security personnel and how they are contracted currently. Are they employed directly or sourced through a specialist security company with their own personnel? The second option is more relevant than the first.
There are different types of security and security companies. Those managing stadiums are often quite separate to those that manage the front door at a nightclub. Choose the right firms and negotiate costs by soliciting bids from multiple security firms to ensure competitive pricing.
While you may feel like there’s greater control with an in-house security team, it’s a lot to handle. There is recruitment, unexplained absences, establishing appropriate procedures for staff to follow, and much more to handle. It’s vastly easier to hire the best security firm and let them do what they do best. Meanwhile, put your attention to the overall running of the stadium business to get better results.
It’s also worth looking at the cost of purchasing in confectionary and drinks sold to visitors too. These are bought in bulk and sold individually. Given the volume that’s purchased, there’s usually more wriggle room on pricing once you’ve been a large buyer for years and not months. See if there’s a better deal to be done with the main supplier too.