Learn about Administrative and Financial management for Leisure Industries
Consider the money and time that people put into their leisure time; including everything from sport and fitness to holidays and hobbies.
The provision of leisure facilities and services is Big Business, and can involve:
Public and Private Organisations
Theme parks, leisure centres, sporting facilities, social clubs, youth services
Play programs and playgrounds; sports competitions, horse riding schools, golf clubs, and much more
Leisure Services must be well managed to be sustainable - this course provides a foundation for building those management skills.
This is a 100 hour course comprising EIGHT lessons. The course can be studied as a stand alone subject or as part of a Certificate or higher qualification. The lessons in the course are as follows:
1. Financial Analysis
2. Budget Control
3. Legal Requirements
4. Funding Opportunities
5. Workplace Communications
6. Managing Documents
7. Managing a Resource Library
8. Managing Information Technology
To analyse financial records.
Control a budget for a recreation service or production of a recreation product
Meet legal reporting requirements in relation to financial management.
Develop funding opportunities for recreation organisations
Liaise with senior management, in a recreation industry workplace
Manage documents in a recreation industry workplace
Establish a library resource collection for a recreation workplace
Manage information technology requirements in a recreation workplace
Leisure Services and Facilities Need to be Financially Sound
Most organisations today; public or private; need to make a profit to be viable.
Even not for profit organizations, charity organizations and government facilities like leisure centres, need to at least cover their costs. Costs may include staffing, travel, purchasing items to sell, marketing and so on. Costs can often be hidden, so it is important for any organisation to be thoroughly aware of the cost of providing thew facilities, products or services which they provide.
Costs are they too high or low? How do you determine that?
Is your price right?
How do you work out the price of the product?
Give examples on costings
Consider Cash Flow
What is cash flow?
Keep a good cash flow.
Keep something in reserve. Don’t over extend your liquidity
You can ensure that an organisation or facility is successful by putting policies into place to cover every possible contingency that may arise. It is important to know how you are going to respond to financial situations before problems arise, as much as possible. Some of those policies will include insurance – insuring or buying insurance policies for example car insurance or public indemnity or fire insurance etc. These along with other in-house policies to identify risk and the pitfalls of business in general will help to ensure your success.
Discuss budgets for all contingencies, and plan ahead for yearly costs. For example, if the utilities bill is quarterly, then save each month for that bill. Save for accountancy bills. Ensure there are sufficient funds for staff payments and so on.
Borrowing may be acceptable if there are assets that can be sold to back up the debt; and there is a reasonable plan in place to pay off debt.
If there are difficulties then you must have a very tight control on spending – you should cut out all unnecessary expenditure and reduce all expenses generally. You should call in all your debtors – some cash flow problems arise from the lack of debtor control i.e. those that owe you money.
So ... Why should I take this course?
Develop your understanding of the financial management elements necessary for successful operation of leisure facilities.
Learn financial analysis and budgetary control.
Learn about the administration - how to manage documentation, develop proper administrative resources and how to provide for these.
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