Few industries are as historic and established as private member clubs. The history of private member clubs dates back to 1700s England when they were created for well-to-do British aristocracy. While the concept of private clubs hasn’t changed much in more than 300 years, the variety of membership club has -- with modern iterations serving the interests of women, cultural groups, and unique hobbies.
Changing times, technology, and the multi-billion dollar, global lifestyle industry means that private clubs have had to take member experience seriously. Beyond providing unique offerings, privacy, world-class dining, and entertainment experiences, new membership clubs have the equally important job of facilitating ease of digital and transactional interactions for their patrons.
Powering more than 1300 member clubs across the U.S., Clubessential is a complete software solution that supports membership recruitment, engagement, and retention. Their innovative platform allows club managers and staff to deliver remarkable experiences. Through Clubessential, a wide variety of private club customers can access a suite of club management software tools that support world-class member relationships, operations, payment, and engagement management solutions.
Private clubs use Clubessential’s custom software for membership management activities, including equipment rentals, reservations, and bookings, but historically were required to use third-party providers for payment processing. Much like the members who frequent and rely on their clubs for a variety of functions, Clubessential wanted its own clients to have access to frictionless financial experiences when using their software too.
“In a mature market like the private club industry, the opportunity to layer in a completely new service offering is giving us some really nice revenue growth potential.” -- Randy Eckels, CEO Clubessential
Clubessential wanted greater flexibility in relationships with clients, a one-stop-shop for all of their needs. Private clubs are the lifeblood of the organizations’ client-base. Large percentages of their merchants rely on their software for back-office needs, website set up, and even their app provision. Without payments built into their software, however, Clubessential was limited regarding the kinds of accounting services they could offer, namely settlements, record maintenance, regulatory compliance, IT, and POS solutions.
Solutioning comprehensive payments infrastructure for Clubessential meant determining the best path forward to solve the following needs:
- Real-time reconciliation of charges collected without manual intervention by clients at the client site.
- Client status on cash flow and real-time balance sheet.
Embedding payments proved to be a strategic transition that allowed for a holistic software solution for the thousands of private club merchants who rely on Clubessential to keep their communities running smoothly. Beyond the clear benefits Finix provides for the merchants using Clubessential software, the organization has been able to reap significant benefits. By leveraging Finix’s infrastructure, private clubs using CE Payments have access to a dynamic funding platform that allows for streamlined management of all their club needs.
From Randy at Clubessential: The biggest ROI for us is tied to saving substantial costs for developer salaries, redirecting our development talent to our core software platforms, and being able to accelerate our time to market by six to nine months. Our current growth rate is about 60%+ month over month. Now our customers can come to us as one source to resolve anything related to their member clubs.
Interested in capitalizing on revenue growth potential in your vertical? Get in touch with our team to learn more.