Strategies For Development Funding Facility Upgrades

Development Funding Strategies For Facility Upgrades

Development funding for facility upgrades All community centers and sports facilities should be looking to upgrade their facilities. If you wish to stay ahead of the competition, you have to continue developing your product and your offerings. For facilities, that centers around upgrades, refurbishments, and renovations. However, those ventures can be expensive, and with many community centers relying on government funding, it can be hard to find that money. In today’s blog post, SFA will take a look at some development funding strategies for facility upgrades as well as some ways that you can use development funding as a way to prepare for the future.

Why Is Upgrading Important?

Community centers and sports facilities, especially ones that focus on higher competition levels, must constantly evolve and make sure that they have a facility that athletes and coaches want to utilize. They may offer top-of-the-line facilities and equipment now, but in 5-10 years, those same facilities might not be the industry standard. You might have a loyal client base and that loyalty won’t be easily swayed, but if you neglect your facilities, they will eventually look for another facility to utilize. That is why upgrading is so important. It is also why development funding from the beginning is important. If you save money as a new facility for future upgrades, you won’t have to deal with development funding strategies when the time finally comes for an upgrade.

What Are Some Development Funding Strategies?

For facilities that are strapped for cash, fundraising is always a viable option, especially if you are a facility that is vital to your city or town. If you have a loyal client base that needs your facility, they will be invested in seeing it upgraded. And more importantly, if you have worked hard to accommodate those clients for the years that they have been using your facility, they will be even more invested in seeing the upgrade through to the end. A fundraising campaign with a devoted base of customers and clients can raise money fast. If you are a city-funded facility, utilize the assets you do have. Use your influence in your town to campaign for funds. Facility managers often forget that their town is invested in their facilities, which makes development funding a whole lot easier.

Contact SFA For Help Funding Your Project

Whether you are looking to develop a new facility or upgrade an existing one, SFA wants to be there to help. We see all of our projects through, from beginning to end, and we want to help you come up with a development funding plan. Give us a call today at (727) 483-7910 or contact us online for more information.