How F&B Impacts Club Financial Outcomes

Club boards and members often get fixated on the belief that F&B profitability is an indicator of a financially healthy club, but club industry data analyzed over the past 15 years tells a very different story. Our research shows that F&B financial outcomes are largely a strategic choice, and that a club's F&B subsidy is inversely correlated with its net worth.

This whitepaper advances insights presented in a 2020 paper on the same topic, focusing on the post-pandemic timeframe to show how clubs have evolved over the last five years.