Request:
SME Utah needs local member feedback on a financial issue. Please click "Reply" and enter 1, 2, or 3 for your preferred option (see below), then click "Send".
Options:
1. Raise the Professionals' meal costs to $45/$50 at the monthly meetings, keeping the same catering.
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- Even a notable increase in student costs would not resolve the financial issues but would greatly hamper student attendance.
2. Keep the current price structure (see below) but serve pizza, sub sandwiches, etc. for most months.
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- This will add setup / cleanup complications, but we think it is doable.
3. Go to a pre-pay option only, no potential to pay at the door.
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- The Social Hour (sponsored bar) and Meeting/Presentation are free and everyone is welcome to attend, but in this scenario, if someone had not paid in advance, there would not be a meal for them.
Background:
Most months we run a deficit because of the catered meals. Annually, that deficit totals about $1,500 - $2,000 and the local leadership has a fiduciary responsibility to solve the problem.
Issues:
- Almost every month we have more people register than attend.
- RSVPs versus attendees varies from 30 to 100%.
- Twice last year we ran out of food.
- SME Utah covers the cost of the meal for our speakers and FLS hosts.
- We discount student costs to encourage their attendance.
Current Cost Structure:
- Students Pre-Pay - $10.00
- Students @ Door - $15.00
- Professionals Pre-Pay - $25.00
- Professionals @ Door - $30.00
We have studied this problem in detail, attempted to improve forecasting, looked to cut out unnecessary expenses, identify lower cost caterers, etc. Unfortunately, we have found only three potential solutions to the problem, and we need your feedback as to which you think is best.
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Mick McCaslin
Murray UT United States
(801) 831-4966
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