U.S. Clubs Face Increased Competition Amongst Other Mounting Pressures
PBMares' 62nd Edition of Clubs in Town & Country Helps Clubs Brace for Future Trends
NEWPORT NEWS, Va., June 29, 2017 /PRNewswire/ -- Membership demographics, operating costs and discretionary income are just three pressures facing private country and city clubs across the U.S., according to data included in the 62ND edition of Clubs in Town & Country produced by PBMares, LLP, a leading public accounting and consulting firm serving clubs nationally and internationally.
"2016 was a banner year for many, but not all clubs," said Kevin Reilly, JD, CPA, CGMA, a partner with PBMares who also leads its private club practice. "There are a lot of clubs competing for the entertainment dollars and clubs have to become more relevant in order to continue succeeding."
The more than 800 clubs that submitted data through Club Benchmarking are also facing revenue challenges, fluctuating memberships levels and concerns about the economy. There is also a correlation between trends in club membership, demographics and member needs that clubs must understand to be successful.
"Clubs management needs to understand both current and emerging trends in order to prepare for the future. It's what will help them plan for the impact to operations in the coming years," Reilly said.
The latest Clubs in Town & Country report can be downloaded here. To help clubs use this data to become more successful, PBMares is offering a free webinar on Wed., July 26 at 1:00 .m. EST. Club managers, senior-level staff and officers can register here.
Clubs in Town & Country is the country's most respected annual statistical review and trend analysis of the club industry and serves as a management and operational aid for clubs.
About PBMares, LLP
PBMares, LLP is an accounting and business consulting firm serving U.S. and international clients, with offices in the Mid-Atlantic. The firm unlocks opportunity for clients using the right balance of industry, specialty and general business services in the areas of audit and accounting, tax planning and preparation, pension plan design/administration, and owner-managed/corporate financial consulting. In addition, the firm provides additional services through its affiliates: Artifice Forensic Financial Services, LLC, a consulting division specializing in fraud investigations and forensic accounting; PBMares Wealth Management, LLC, a registered investment advisor; and TMDG, LLC, specializing in Healthcare Assurance and risk consulting. More information is available online.
CONTACT: Nina Ullrich
757.534.7450
SOURCE PBMares
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