Financial management
How to run a tennis club
Managing a tennis club, in a voluntary or paid capacity, comes with similar responsibilities to running a small business. It's essential to be up-to-speed with financial compliance and best practice including budgeting, bookkeeping, tax and fundraising.
Our guide to strong financial management is a great starting point to assure your clubs’ financial future. You can find this guide by clicking below:
We understand that many aspects of club financial management are complicated and can require specialist advice. As a result, we provide LTA Registered Venues with access to our specialist legal and tax helpline, operated by a leading commercial law firm. They can provide valuable guidance and advice on a wide range of business-related topics for clubs and coaches, including the following:
- Governance and incorporation
- Contracts
- Tax treatment and advice
- Employment law
- Property law
- Disciplinary and safeguarding regulations
- Data protection & GDPR
To access support from our Legal & Tax helpline partners, Brabners, you simply need to call 03330 433 232 and quote your LTA registration number.
The LTA are working in partnership with GMG, specialists in establishing buying-groups within the sports sector, to harness the collective purchasing power of the 2,750 LTA Registered Venues to leverage significant discounts across a wide range of goods and services that are used by tennis clubs. Our aim with GMG is to help your club access high quality services at a reduced price, assisting the financial sustainability of our network of tennis clubs across Britain.
Visit our LTA Buying Group website below for further information.
Contracts Manager tool
The LTA Buying Group also gives club access to a Contracts Manager tool. This tool is a cloud-based portal (online filing cabinet) that enables you to de-clutter and reduce paperwork by storing an unlimited number of contracts, invoices and other pertinent documents securely.
You can drag and drop documents from your desktop, log the contract start and end dates, and – crucially – log the notice period required should you wish to terminate service. Contracts Manager then gives you a simple ‘traffic light’ system which enables you to see which contracts are approaching a critical date, at a glance. As and when any contract approaches a critical date, the system will send an alert, whereupon the buying group can assist you as to whether to renew, renegotiate, or look elsewhere in the market.
Visit the Contracts Manager website below for further information and to sign up.
The LTA has partnered with easyfundraising to help tennis clubs source an extra income stream. Just ask everyone connected with your club (members, coaches, volunteers and friends) to use easyfundraising when they shop online with 4,000 leading sites, including Amazon, John Lewis and Just Eat.
Every time they make a purchase, your club will receive a cashback donation directly from the retailer. Join over 350 tennis clubs using easyfundraising to generate additional funding to invest in the running and operation of their club.
To register for free visit the easyfundraising website below.
Sport England has provided other guidance on other ways of generating funding from crowdfunding to Gift Aid:
Sport England Club’s platform Buddle has more advice on raising funds for your venue:
Below you'll find some useful resources to help guide you through the financial management process:
Webinars
Below you can browse through some useful webinars on financial management.