We are now in the 10th year of Futsal Escocia and our participation numbers are higher than ever with an incredible 45% increase on last year.
Success doesn't happen overnight and I have worked hard to be in this position, but it also presents you with fresh challenges.
An increase in numbers means an increase in turnover and implications with VAT. As soon as your business goes over the VAT threshold, you are to pay 20% on all income generated and in this financial climate, the last thing I'd want to do is put that onto parents.
The current VAT threshold has not increased since we started 9 years ago and with fuel prices, insurance, equipment, and hall hire increases it has become more challenging. Increased expenditure reduces profit margins.
If I make a decision to break through the VAT threshold, I have to be all in, and increasing my annual turnover by another 20% to make it financially viable.
We have 55 players on our waiting lists and we haven't even touched on girls' futsal and Ninos (4-6 years) properly yet. The demand is there, it's ensuring that there's additional hall hire and the right coaches available.
I have contacted facilities about available hall hire and if I make the decision to go all in, I will require additional coaches to assist with running of new Ninos and Girls only sessions.
If you would be interested in being part of our coaching team, please get in touch.
A new financial year starts in April and I'd be looking to launch everything from then.
Apologies for boring you all with the financial side but I think it's important to be transparent with parents.