If your swim and tennis club does not allow new members to join immediately, you will want our Wait List Module to manage applicants, make offers, and keep their information up-to-date over the years they may be waiting. This module costs an additional yearly fee, but is also a huge revenue generator for our clients. Most of our clients average 3k-6k more per year using it. Here is why…
- Instead of paying to join, applicants pay for an Application Fee product to get on your Wait List. This is typically a one-time fee, but could recur yearly.
- We recommend your Wait List Application Fee is a minimum of $75-$100. If your fee is too low, applicants are less likely to wait for many years. When it comes time to pull applicants off your list, it helps to move swiftly through applicants that are still interested in joining the club.
- If your club is already on a Wait List, you likely already know that more people join the list than join the club in a year. If 30-40 families join at $100, this is $3000-$4000 each year. If only 20 new families come off the list in a year, in a very short amount of time, your club is on a multi-year wait list. The longer the line to wait, the more your club can charge to wait.
Some things you may not have thought of…
- Wait List applicants make great Seasonal / August-Only members! When the regular membership starts tapering off from the pool, your club can offer one-month only memberships. Our system makes it easy to keep applicants on the “Full membership” wait list while allowing them to purchase short-term memberships.
- If your club struggles with members not paying on time, those days are over. Members that don’t pay on time, will simply expire from our system, and their past invoices will eventually become invalid.
- Pro-rating memberships will be a thing of the past. Your current members will likely pay from February to late March, then wait list applicants will be offered memberships in April. When all the available memberships are sold, that will be it for the year. So no more selling discounted partial-year memberships.
- More opportunities to renovate the facility. In the past your club may have worried about raising dues or charging one-time Assessments because it would drive away current members. There is such a thing as healthy turnover though, and the Initiation Fees from new members bring in capitol for improvements that benefit the members willing to pay more for a great facility.
- If your club ever needs a loan, banks will ask to see your current member list AND Wait List (yes really). It will look great to show the bank your club has a substantial revenue stream in application fees alone.
In this upcoming series of articles we will look at how to setup and sell your Wait List Application Fee product, ask applicants followup questions, invoice Wait List applicants, create multiple lists and much more.