Did you know that Notts Sport’s Fast Track Funding initiative was originally designed for schools and sports clubs looking to resurface an existing pitch?
Just 16 hours of hire per week could provide all of the necessary funds needed to resurface a facility with new high quality synthetic turf.
This ideal funding solution is a cost-effective alternative to building a new facility, utilising a site’s existing features, whilst crucially updating its synthetic playing surface. This key change will improve player performance and will ensure that the life expectancy of your old structure will also improve dramatically.
‘Fast Track Funding’ can be used to fund some, or all, the resurface of an existing synthetic pitch (as well as new builds). The scheme allows clients to offset the capital costs of the project and repay over a 5 – 7 year period, eliminating the need for any initial capital cost.
The lifespan of any synthetic turf pitch is largely dependent on the extent of usage, appropriate maintenance procedures being carried out and the quality of the surface/base system installed. Whilst these three aspects can be carefully managed to help maximise the life of the synthetic turf surface, it is inevitable that the day will come calling when surface replacement is necessary. Next comes the question, how will the resurface works be funded?
In an ideal world a sink fund would have been contributed to at regular intervals over the course of several years since the facility was first constructed. Unfortunately it is often the case that a sink fund is insufficient, has already been spent elsewhere or, in some cases, has never been put in place at all!
If this is the case, there is an alternative funding solution available. And one that is ideally suited to synthetic pitch resurface projects!
Fast Track Funding was introduced so that clients can make repayments utilising the income that a resurfaced pitch would generate from pitch hire. With an ever increasing number of clients choosing to use Fast Track Funding, we have found that through developing a partnership with a local sports club/clubs, our clients can guarantee a considerable number of bookings during evenings and weekends. This can take a large proportion of any risk involved in ensuring that repayments can be made. In effect, the facility would being paying for itself! Furthermore, in the case of a School or Academy, as bookings are in the evenings and weekends, it does not affect the use of the facility by the School/Academy itself.
Using our finance projection calculator, Notts Sport can work with you to put together a business model to ascertain the feasibility of using Fast Track Funding for your synthetic pitch resurface. This would take into account the ‘incomings’ that a resurfaced pitch could generate from pitch booking fees but also acknowledge any additional ‘outgoings’ such as specialist maintenance, floodlight running costs and lamp replacement.
Not only that, Notts Sport can also provide assistance in helping you to develop a partnership with a local sports club.
From working with numerous clients who have resurfaced their synthetic pitches using Fast Track Funding, we have confirmation that the income generated from pitch bookings can cover the necessarily repayments and, in some cases, go on to generate extra income as well!
For more information please email markw@nottssport.com or call 01455883730.
There are also a series of free seminars being held in locations across the UK throughout November 2016 which provide a detailed insight into Fast Track Funding. If this is of interest you can book a place via https://fs6.formsite.com/NottsSport1/form6/index.html
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