While brand reputation is key to any business, recovery from damage to the brand is another matter.
This is a very diverse sector – not just sport, but encompassing health & fitness, stadia, visitor attractions and bars & restaurants etc. The health and fitness industry alone is one of the fastest growing sectors in the UK. Studies of demographic changes show that by 2020 25% of the UK population will be aged over 60. As such the industry will need to capitalise on the opportunities this will provide.
Needless to say, the sector does not come without risk in the form of business interruption, brand reputation and health and safety. For example, the impact of a disaster due to adverse weather conditions could be catastrophic before a major event.
While brand reputation is key to any business, recovery from damage to the brand is another matter. For example, if there is negative response in the press due to a health and safety problem at a large stadium, this could severely damage the value of a brand.
In addition to the risks outside our control, there are corporate risks due to bad management, which should be well within the control of the boardroom, particularly in football clubs.
Here at Buchler Phillips we have a highly pragmatic team led by David Buchler. His restructuring approach in turning around the fate of a number of football clubs has been remarkable. His strategy to increase turnover and turn losses into profits was visionary and holds a number of clubs in good stead even today.