Planning, Budgeting and Development Funding

Avoid These Development Funding Wasting Habits

If you are in the planning and development phase of your sports facility, you know how important it is to stay on budget. The last thing you want to do is run out of money before the facility is even open, and following these tips for development funding to avoid wasting money can keep you on budget and on time.

Don’t Stray From Your Development Funding Budget

If you already have development funding, and have planned out a budget, don’t be tempted to throw in last minute updates or changes unless they are absolutely needed. It is easy to get caught up in the excitement of a new construction, and if the walls of your recreation center are already blue, and on a whim you feel like they should be red, put it off for later. Aesthetics can be changed another time if needed, and the extra money it would cost to do it should be saved for something more immediate. Unless there is an actual, immediate problem, spending the extra money could end up being a waste. Similarly, if a contractor quotes you a price that you integrate into your budget, and later says it may be more expensive, shop around. Is there anyone that could do the job and stay within your intended budget? Facility planning is a process, and this is why it is important to have the budget set before any construction begins. This is true both before and after you secure development funding.

Anticipate Problems Before They Arise

Before construction starts on your sports facility, you should have the entire framework laid out and ready. Prepare yourself for what problems could arise in the building process and set aside money for them. Is it possible the way you planned out bathrooms could be too costly and may need to be changed? Will you end up needing more classrooms or conference rooms than you thought? What if the baseball field ends up taking longer to build and ultimately costs more than planned? Some of your development funding should be kept aside for such emergencies. If there is an issue you feel may come up, prepare yourself for it. Plan out what needs to be done if the situation does arise, and avoid spending more than necessary on an unforeseen problem.

Hire a Facilities Management Company

Hiring a company like Sports Facilities Management can save you time and money. We have experience in facility planning and know what steps to take to ensure you don’t waste any development funding, and can help you create a budget and stick to it as closely as possible. With our extensive experience in indoor sports facilities, sports complexes, development funding and recreation centers, we can help you through your development start to finish.