Swim Memberships vs Pool Bonds
To understand the advantages of swim memberships vs pool bonds it is important to first understand the history. Pool bonds were responsible for much of the funding for the community pools in our country. Without the option of selling memberships, fundraisers created pool bonds that offered equity to future members. Although the pools were considered nonprofits, pool bond owners could sell their shares and profit from their ownership.
The sale of bonds was typically a simple process, but had strict transferring laws. These laws would often force the sale of the bond rather than allow families to pass down their ownership. While unpopular for those purchasing bonds, pools brought in more funding.
Financially, pool bonds were extremely beneficial. However, the tracking process was time-consuming and resulted in an added staff expense, in addition to already-high operating costs for the pool.
The ability to raise money through bonds made sense in the beginning. Pools were less common but extremely desirable. But, as the construction of pools slowed, selling equity in them is no longer necessary. Pools have found other ways to replace that income to help fund upkeep and maintenance.
A Replacement For Pool Bonds
As the pool bond preference had faded out, swim clubs and pools have replaced them with a one-time initiation fee. Instead of ownership, this fee is placed on new members but limited to the first membership payment. After the initiation fee, members only have to pay their monthly or yearly membership dues.
This initiation fee provides additional revenue for pool expenses and is also easier for pool staff to track and manage.
With memberships in place rather than bonds, pool staff have more opportunities to find a management software to take on the time-consuming and resource-draining processes of running an organized facility. ESoft Planner can manage membership and initiation fee payments, access control, and so much more.