Money making idea from US sport : Thu Aug 25, 2016 11:52 am
Whilst I appreciate this will not be a big money spinner, under the Tesco theme of "every little helps" I found the following interesting and wonder if Wakefield Trinity should adopt it in the future.Recently I was invited as a guest on corporate hospitality to a US sporting event. I was provided with my ticket to the event which said it was preloaded with $25. This meant that $25 credit was on the ticket to spend in the stadium on food, drink and merchandise if I so wanted. As I was buying things I just handed over the ticket and the seller used a bar code reader to take the credit off my ticket.
I think this is a great idea for the sporting club involved and could be appealing for the corporate host too.
It benefits the sporting club because:
- they get the preloaded credit upfront (so $25 for every ticket)
- the credit can only be spent in the ground on high profit margin items which benefit the club
- if the ticket holder doesn't manage their spend well they could pay out of their pocket for the difference, say I got a round of drinks thinking it would be $23, however it comes to $27 then I have to pay the $2 difference out of my pocket
- any unused credit goes as 100% profit to the club. In my example I only spent $21 of the $25 so $4 was 100% profit to the club because to me it was on a use it or lose it basis
This idea might appeal to corporate hosts since they can budget exactly for the cost of the event. They don't have to face an unknown bar tab bill at the end of the event nor do they have to keep going around their guests asking if they need any food or drink since people can help themselves.
Okay, this idea may not appeal to everyone but from a sporting club point of view I think it could help raise a little more money.
