2020-2030 Strategic Plan
Approved September 23, 2020
Version 3.8
Table of Contents
Brand, Mission and Vision Statements Page 3 and Mission Principles
Club History Page 6
State of the Club – 2020-2021 Page 7
The “7” Challenges - Strategic Goals and Objectives
1. Strategy/Vision Goal Pages 9 - 14 2. Membership Goal
3. Staffing Goal
4. Finance Goal
5. Physical Plant Goal
6. Community Involvement Goal
7. Leadership Development Goal
Sarasota Yacht Club
Strategic Plan 2020-2030
SYC Brand Statement
To people who enjoy being on or around the water and connecting with friends that have similar interests,
Sarasota Yacht Club is the Premier World-class Yacht Club that delivers the Yachting Lifestyle experience inspiring lifelong friendships and extraordinary experiences in an upscale, waterfront location
with award winning dining, a clean, full-service marina, and engaging activities in a family-friendly, welcoming environment.
In our culturally rich city, only SYC has a unique waterfront location, diverse active members, and professional staff.
SYC Mission Statement
The world-class, award-winning Sarasota Yacht Club is home to a diverse membership and professional staff who inspire lifelong friendships and extraordinary experiences in our culturally-rich waterfront city.
SYC Vision Statement
An essential part of
Our Members’ Lives Our Community’s Fabric and Our Staff’s Wellbeing,
Inspiring Lifelong Connections that can’t be duplicated.
Mission Principles
Premier means that:
•
We respect our 100-year-old nautical history, and promote the Club’s yachting traditions and culture.•
We respectfully protect and actively enjoy our waterfront environment.•
The Club maintains its financial strength and operates with the highest level of integrity.•
We adhere to the integrity and high standards of our membership admission process.•
Our clubhouse, marina, and all other facilities are attractive and well maintained.•
Food and beverage offerings coupled with recognized superior service consistently meet or exceed member expectations.•
Club staff delivers courteous, friendly, and efficient service.•
Members are known to club staff and are greeted by name.•
We have open and transparent communications.•
We celebrate long-tenured members and staff alike.•
The Club is the hospitality employer of choice in Sarasota.•
Club membership is sought after and coveted.Full Service means that:
• We have a world-class Platinum-level Marina providing all the amenities our boating Members have come to expect.
• We offer diverse recreational activities and social events designed to satisfy the majority of Member desires.
• We offer a range of dining experiences on a daily basis in a variety of settings.
• We have a variety of venues for private member-sponsored events which do not conflict with everyday member utilization.
• We maintain enough financial flexibility to provide non-member events when deemed desirable to do so.
• We are a professionally managed private club.
• Member volunteerism is never taken for granted, but volunteerism is expected.
Family Oriented means that:
• Our offerings are for all generations of members including our youngest members.
• Members and their children are encouraged to dine at the Club and to use our facilities.
• Inappropriate behavior or language will not be tolerated.
• Disrespecting other members, their families, or staff will be subject to disciplinary actions as outlined in the Club bylaws.
• We are committed to being a multi-generational Legacy Club.
• We welcome diversity of members, their cultural traditions, and celebrations so everyone can consider the Club their second home.
Mission Measures
• Member Satisfaction Scores
• Membership candidate pipeline/Length of waiting list
• Membership volunteerism and participation
• Membership utilization of Club facilities
• Financial condition of Club
• Physical appearance of Club facilities
• Reputation of Club in the community
• Membership stability/turnover
• Staff stability/turnover
Executive Summary
History -
A yacht club, known as the Sarasota Yacht Club, was organized in the summer of 1907 on the north end of Siesta Key.In 1913, the Club purchased a tract of land on Gulfstream Avenue in downtown Sarasota, and erected a large clubhouse, which soon became known as the “center of social life in Sarasota”.
The Club changed its name to the Sarasota Yacht and Automobile Club and remained very active until 1917 when John Ringling purchased the property. During World War I the Club headquartered the Sarasota Naval Militia.
The present Sarasota Yacht Club was incorporated June 21, 1926. The automobile branch of the club was not continued. Later, a clubhouse was maintained on Sarasota Municipal Pier, from which members sailed their “Fish Class” fleet, winning numerous championship trophies including the 1933 Florida West Coast Fleet Championship.
The United States Government leased the Club property for use as an Air Force Crash Boat Rescue Base from 1943 to January of 1946. The Club regained control of its property with the payment of $100 to the United States Government to cover improvements made to the site, mainly two barracks buildings that served as a clubhouse for many years. During World War II membership declined to 66 regular members. Membership subsequently grew and enabled the Club to build a new clubhouse in 1958. Fifty years later that clubhouse could no longer meet the needs of the Club, and certainly would not meet its future needs. A courageous decision was made in 2007 to tear down the clubhouse and enter into a new chapter in the Club’s life.
On April 23, 2010 the Sarasota Yacht Club opened the doors to its newly constructed 23,000 square foot clubhouse. Over the intervening years many capital projects were added. Those include the Yardarm entertainment terrace, the Family Activity and Game Center, the pool-side Spinnaker Bar and Grill, the bocce court, the landscape redesign, the Sailing Center Instructional and Entertainment Deck, among others. In addition, we are embarking on the creation of a world-class Platinum-level marina that delivers unparalleled amenities and service.
Recognition is an important validation. In 2015 the Club was recognized as an Elite/Emerald Club. In 2018 the Club received a Platinum Club of America designation and in 2019 the Club became a Platinum Club of the World (one of only 50 yacht clubs) ranking it among the finest yacht clubs in the world.
2026 marks the Club’s Centennial Anniversary; a watershed moment in Club history. This is an accomplishment few private clubs achieve. To further celebrate the Centennial, the Board of Directors know they need to position the Club so it can continue to grow and prosper beyond 2026 to our second centennial. To that end, plans are being created to expand the clubhouse footprint and add important amenities that are outlined in the Goals Section of this plan.
State of the Club in 2020-21
The Sarasota Yacht Club continues the voyage of distinction started approximately one hundred years ago. SYC is in fine shape. The challenges of the pandemic of 2020 have not changed the passion, commitment and support that our members have for our Club. The most recent Member Satisfaction Survey shows that our Members continue to display high levels of support for SYC. The vast majority of measures of the SYC Brand have been given a higher rating than scores achieved in prior Member Surveys.
In the summer of 2017, the Board made a decision to cap at 700 memberships. As we explore ways to expand the campus, the Club might be well served to consider raising that cap.
Membership dues and capital fees have enabled the Club to service its debt, increase reserves, strengthen operations, and make capital improvements funded by our cash flow. These are enviable achievements for any club.
Two-thirds of members reside in the 34236 postal zip code. The growth of housing units within that zip code represents an enormous growth opportunity for the Club. Current land utilization in downtown Sarasota suggests that tapping into this population explosion will provide
membership opportunities for the next several years.
While these factors are positive, analysis also reveals that there are challenges that continue to need to be addressed. The Board of Directors identified seven focus areas, or challenges, that remain important for the current planning cycle:
• Strategy/Vision
• Membership
• Staffing
• Finances
• Physical Plant
• Leadership Development
• Community Involvement
Details for each of these seven focus areas will be presented later in this plan. Your Board of Directors strongly believes that specific goals, measurements, and responsibility for each of the Seven Challenges will not only assure appropriate centennial recognition, but will also position the Club for success in its second centennial.
While there is much that we can do to have a positive impact on the Club, we must
acknowledge some factors are beyond our control. Foremost among those is the fact that the Club is landlocked and subject to stringent regulation due to our waterfront location. As you will see later in the plan, dealing with those limitations will require us to think outside of the box and to be courageous.
A short drive across the Ringling Bridge reminds us that competition for hospitality talent in Sarasota is aggressive. We have a superb staff. Our challenge is not only to retain that talent, but to add to it as we increase our offerings to members. The SYC management and staff have a strong member-focused commitment to service. That commitment is the lynch-pin to our future success.
As a final point to the State of the Club in 2020-21, we note the strong levels of volunteerism at SYC. Member volunteers are a critical component. The governance structure of the Club requires the services of members who have both the time and the interest to effectively participate. It is said that the gift of time is the most precious commodity one can offer. We know that increasing time pressures and fast paced lifestyles greatly inhibit our members’
ability to donate their time and talent as Club volunteers. So, we say, ‘thank you’ to all those who can and do.
In 2018 and 2019, the Board evaluated the Club’s organizational structure. Changes were made to better integrate member volunteers while being respectful of the demands that life places on them. Additionally, the Board continued the process of migrating to a strategic body. Simply put, the Board sets policy and direction. Management manages.
The Board created the Leadership Development Committee to analyze Club needs, source talent and deliver candidates for future Club Board participation. The Board reduced the number of Directors and committees and the frequency of meetings. A corporate hybrid governance model was adopted to assure that only the most qualified candidates were sourced for the Board. These changes have made us a stronger, more focused, more achievement oriented yacht club. We believe that these and other changes led to Sarasota Yacht Club being named one of only fifty yacht clubs as a Platinum Club of the World recipient in 2020.
Sarasota Yacht Club
Seven Challenges and Strategic Goals
(Management created annual Operating Plan and Dashboard will identify and track actions to achieve these goals)
1. SYC Strategy and Vision Goal
“Our Strategic Plan will be our ‘road-map’ to our Centennial in January 2026 and beyond.”
Objectives (As monitored by the Board and various Board Committees):
• The Seven Challenges will act as the Club’s filtering mechanism to keep us focused and moving forward. Those seven are: Membership, Staffing, Finance, Physical Plant, Strategy and Vision, Community Involvement and Leadership Development.
• The Board shall continue its efforts to identify and focus on those strategic issues ad trends likely to impact the Club and its operations and modify the Strategic Plan as needed.
• The Board will oversee the development of an annual Operating Plan by management containing clear measurable objectives, adjustment triggers, and accountabilities.
• Continue to optimize existing Club facilities with innovative member offerings and space allocations.
• Be prepared for opportunistic combinations with other private clubs, a trend that has become commonplace throughout the nation.
• Provide the mechanisms for open high-quality/transparent two-way communications among the members, the management/staff and the Board to achieve total
understanding of progress/issues and concerns throughout the year.
• Employ external assessments of our performance through private club evaluators such as the Distinguished Elite/Iconic Club award, Club Benchmarking, Platinum Club of America, Platinum Club of the World, outside surveys, and community feedback.
• Assess, resource and implement cutting-edge technologies that allow efficient record keeping, improved communications and protection from outside compromises.
2. SYC Membership Goal
“SYC’s membership size, currently capped at 700 dues paying memberships, will be continually evaluated to assure a positive member experience and a vibrant future.”
Objectives (As monitored by the Membership and Membership Engagement Committees and the Board):
• Continually fine-tune our highly selective and exclusive selection process to assure that SYC will thrive in the coming years.
• Ensure the new member selection, on-boarding and assimilations processes reflect premier private club best-practices and relevance with regards to changing member demographics.
• Redefine a member-responsive retention plan focused on Member
experience/satisfaction utilizing the Member Engagement Committee and the Membership Committee as partners.
• Develop an internal marketing plan to encourage and reward members for sponsoring new members.
• Evaluate the current 700 membership cap considering past, present and future facilities projects, and proposals.
• Develop a waitlist of highly qualified candidates for membership.
• Review and adapt policies, procedures and operations pertaining to membership and membership categories.
3. SYC Staff Goal
“Sarasota Yacht Club will be recognized as hospitality sector’s employer of choice for greater Sarasota.”
Objectives (As managed by the General Manager and monitored by the Board):
• The General Manager will recruit staff commensurate with Platinum Clubs of America and Platinum Clubs of the World status.
• Employee Career-pathing is integral to employment at Sarasota Yacht Club.
• Existing employees and Members are encouraged to refer potential individuals who are providing exceptional service at other venues.
• Future executive and management employees will possess appropriate private club and hospitality experience.
• The Club will retain staff at a level to exceed industry standards.
• The Club has bench strength and a succession plan for all key staff positions.
4. SYC Finance Goal
“The SYC financial plan will keep our Club vibrant and relevant. The plan and its execution will concentrate on increasing member satisfaction and value enhancement through responsible fiscal management.”
Objectives (As monitored by the FP&A Committee and the Board):
• The Finance Committee shall be an aid to the Board and Management’s focus on their fiduciary responsibility and enhancement of member satisfaction.
• Create a realistic budget consistent with GAAP and IRS Private Club guidelines. Monitor both financial performance metrics and member satisfaction; address any variances and take timely corrective action.
• To the extent possible, ensure that operating revenues are segregated from capital revenues and that each is used as intended by the members.
• ROI is utilized, but not the only consideration, in key decision-making.
• The Club will maintain Key Performance Indicators that target exceeding industry standards.
• Club Benchmarking, FCYC and other reputable data sources will be used to monitor and measure of our Club’s financial and member satisfaction performance.
• Present financial information to Members in a format that ensures membership has a good understanding of the Club’s financial condition and is able to engage in meaningful discussion if desired.
• Establish checks and balances to ensure integrity in the financial system and the Strategic Plan is accomplishing its initiatives.
• Build a strong operating income and cash flow strategy.
• Be prudent investing capital in SYC’s future and ensure proper controls are in place.
• Maintain ongoing discussions with banks to take advantage of favorable market conditions.
5. SYC Physical Plant Goal
“Continually maintain and evolve the SYC campus to maintain Club vibrancy and relevancy.”
Objectives (As monitored by the Facilities Committee and the Board):
• Maximize and expand the utilization of the Club’s facilities. This includes implementing a plan of action and making improvements based on the order of the identified priorities in this strategic plan.
• Develop and maintain a long-range master campus plan. This plan will not only show what is possible according to local regulatory restrictions but will also provide various recommendations based on highest and best use analysis.
• Expand amenity offerings. Through multiple surveys and outreach programs, we have established a preliminary list of possible added amenities as follows:
1. A signature dining option such as a Member only grill room.
2. State of the art fitness center with ample space and equipment.
3. A multiuse facility that will provide added space for the sailing and watersports center as well as new office space and restroom accommodations for the newly constructed 4th dock.
4. Virtual golf simulators.
5. Expanded parking and storage.
• Responsible growth. The Facilities Committee must deliver projects to the membership that are well thought out, fiscally responsible, and compatible with shifting
demographics.
• Work with the FP&A Committee to maintain a financial plan to fund capital projects
• Integrate additional family-friendly play areas and facilities as space allows.
• Implement the Marina Master Plan (see vision below).
The following is an enhanced vision of our Marina Master Plan and the possibilities that could become a reality.
SYC’s state-of-the-art marina has been designed to make yachting and boating a convenient part of everyday life and is part of the larger vision of Sarasota Yacht Club, Providing excellent access to the Gulf of Mexico, “The Keys”, Atlantic Ocean, Bahamas, and the entire Eastern seaboard, this facility represents the standard to the world!
With an eventual 135 berths available, including boat lifts for smaller craft, and perfectly situated in the natural harbor of Coon Key, the marina at SYC offers secure alongside moorings that can accommodate yachts up to 30 meters and a draft of up to 2.1 meters. An experienced dock master delivers yacht management services customized and tailored to individual needs, along with a dedicated team providing concierge marine services and reliable utilities that exceed industry standards. Amenities include high capacity shore power, Wi-Fi, double reverse osmosis potable water, tender and fuel docks, showers and provisioning services, as well as standard checks and services.
6. SYC Community Involvement Goal
“To continue and grow the Sarasota Yacht Club’s legacy of being a positive community
‘citizen’.”
Objectives (As monitored by the SYC Cares Committee and the Board):
• Continue to drive and develop the SYC Cares Committee and program,
including identifying members who want to be notified of and involved in SYC Cares activities.
• Educate the greater Sarasota community and our membership about the positive volunteer work and contributions being made by SYC Members through internal and external public relations.
• Continue to implement transparent, fair, and consistent SYC Cares program guidelines for “community citizen” engagement that can be clearly
communicated and embraced by membership, including maintaining database of member charitable interests and communicating with members about SYC Cares opportunities.
• Continue to develop relationships with organizations in coordination with the SYC Communications team and other Club committees/groups.
• Continue to engage members with charitable activities and connections, and in the grant selection process through a series of voting opportunities and an annual educational event (i.e. Community Connections).
• Create and host an annual Member-only fundraising event with proceeds benefiting SYC Cares Funding effort, with necessary adaptions for changing times.
7. SYC Leadership Development:
“The Sarasota Yacht Club is an organization that relies on engaged members who want to be a part of the Club’s future success.”
Objectives (As monitored by the Leadership Development Committee and the Board):
• The Leadership Committee (LDC) will source highly qualified candidates for future Board service.
• The Club’s governance model, the Hybrid Corporate Governance Model defines optimal volunteer candidates and is aligned with the Club's future needs
• Directors will fulfill their responsibilities to the Club.
• The Board understands the difference between strategic governance and Management’s operations role.
• The right Commodore and Bridge are always in place at the right time aligned with the Strategic Plan.
• The Board has a full complement of skills resident through its Directors’
combined experiences.
• The nominating process is viewed as a best practice by experts in the private club industry.
• The Club has a strong leadership bench that is adequately prepared to accept new levels or areas of responsibility.
• Succession planning is required and should be reviewed annually prior to the beginning of the nominating process.
• The LDC will create and implement a database of Members’ skills and interests to match against Club needs.
• The LDC will use the member application to identify potential talent.
• Director development will be supported by external resources including those available from FCA, FCYC, CMAA, NCA, Club Benchmarking and others. It is the individual Director’s responsibility to continually educate themselves on the private club world.
• Continue the process used by committee chairpersons to identify those committee members with potential leadership skills.
• Plan a social event hosted by the Board to thank all committee members for
• Make use of ad hoc committees to further identify and develop talent.
• Develop robust on-boarding, development, and succession practices for Board members including an annual orientation and annual retreats.
• LDC will look within the many activity groups to uncover passionate potential leaders.
• The Board and LDC will utilize the nominating process to retain and develop future leaders.
• LDC will seek management’s input to identify future leaders.
