Every sporting event has a scoreboard. Whether it shows runs, points, or time, it’s measuring the performance of its participants and provides a roadmap of sorts for reaching your goals. The scoreboard lets teams and individuals know how far away they are from winning the game, achieving a personal best or breaking a record.
The sports facilities that house these scoreboards also need to know how far they are from reaching their goals. Assessing the performance of a sports facility will help you determine where adjustments need to be made, whether it’s in programming, budget, or promotional strategy. To define success for your sports facility, you must establish key performance indicators that are agreed upon by all stakeholders and reflective of the environment in which it operates.
Key Performance Indicators for Sports Complexes
How groups define success for their sports facilities depends on a variety of factors, including organizational goals, how they were funded, how they generate revenue, and the activities that take place within them. At Sports Facilities Management (SFM), our team has served over 2,000 communities throughout the United States. Below are a few indicators that have defined success for their sports complexes:
Return on Investment (ROI): The primary way to define success for sports complexes is measuring ROI. For every dollar invested, how many dollars were earned? This is the primary scoreboard for privately owned sports facilities because they represent an investment by a group or an individual. Understanding the ROI for a sports complex can help inform decisions about programming, the effectiveness of marketing campaigns, and the cost effectiveness of operations. Over the years, SFM has examined the programs, equipment, and processes of underperforming facilities to help them increase their ROI.
Economic Impact: Sports tourism facilities often define success by the economic impact that it has on its home community. When events are hosted, non-local athletes and spectators come to the venue and spend money on the event itself and areas associated to their visit, such as food and beverage and lodging. In terms of lodging, communities measure hotel taxes in addition to direct spending. This is spending that doesn’t take place if the event is not being held. Additionally, economic impact is measured in the positive exposure that sports tourism facilities bring to their communities. Positive media attention, tourism spending outside of events, and businesses established to compliment a sports facility can also be measured.
Facility Usage: For parks and recreation departments, sports facilities are often fulfilling the desire to enhance the health and wellness of their communities. In this case, success is measured by the facility’s number of participants and programs. This is particularly important when it comes to increasing sports participants in underserved areas. While facility usage is the KPI, success may mean a decrease in juvenile crime and an increase in school performance among certain age groups.
However, your sports facility defines success, SFM can help you get there with our wealth of experience managing the nation’s premiere sports, recreation, and entertainment venues. We can help you define you define your goals, evaluate your facilities, and build and execute a plan to achieve success. Contact us today to schedule a Discovery Call at 727-474-3845.