Looking after your finances

Managing finances can be a headache for any club, but with some planning, you’ll quickly and easily understand your club’s financial position and commitments, enabling you to plan for future investments and handle unexpected occurrences. Here are some top tips to help you manage your club’s finances, along with free planning tools you can download.

Why Plan Your Esports Club Finances?

If you need more reasons to plan your finances, here’s why we think it’s crucial:

Benefits of Financial Planning

1. Future Direction: Helps the club develop its future direction, identifying what needs to be done and by when.
2. Cost Transparency: Allows others to understand the cost of running your club.
3. Affordable Fees: Helps decide on fees that are affordable for members and participants.
4. Progress Tracking: Enables you to track your club’s progress against your plan.
5. Action Plans: Allows the club to take action if things go wrong.
6. Improvement Areas: Identifies areas for improvement.
7. Sustainability: Ensures your club is sustainable in the long term.

Types of Financial Plans

Typical plans that can help with both short and long-term activities include:

1. Strategic Plans (Long Term): Outlines the long-term direction and goals of the club.
2. Reserves Policy (Long Term): Ensures there are reserves for emergencies or unexpected costs.
3. Annual Budget (Short Term): Details the expected income and expenses for the year.
4. Cashflow Forecasts (Both Long and Short Term): Predicts the flow of money in and out of the club.
5. Capital Investment Plan (Long Term): Plans for large investments and how they will be funded.

By planning your finances carefully, you can ensure that your esports club not only survives but thrives, making informed decisions that will benefit all members and help you achieve your club’s goals. Download our free planning tools to get started on mastering your club’s finances today!