Sara is Jump Gymnastics’ Jackrabbit super user. She’s well-versed in Excel all of its magic as she is a financial and accounting specialist. We talked to Sara recently and learned a lot about what reports she uses and why.
Sara doesn’t simply pull and read reports. She uses pivot tables in Excel to get the most from the data in the reports. She can compile, compare and track data in many ways that help decision making across the business.
Enrollment Detail Report
From this report, Sara can learn a lot about what is going on in enrollment, retention, cash flow, class popularity and profitability, session and class break even points, life cycle of customers, and alue of each customer. This list is almost never-ending.
Why is this valuable?
Sara can give gym owner Jennifer Hood answers to these questions – and more – from simply pulling the Enrollment Detail Report and manipulating its data.
What families have not returned? They set up marketing campaigns to invite non-returning families back.
In which weeks should we see the most enrollments? Using this historical timing data, they can trend the weeks following the start of enrollment. If their trends are off, they can use marketing to try to increase their numbers. They can also try to figure out if there are any external factors impacting enrollment.
How many children are involved in classes in certain weeks? Or for specific classes?
This information shows where gaps are. It alerts them to classes with potential issues – such as attendance – so they can examine the details and resolve the issues. This information can also show where gaps are. Gaps in curriculum offered to age groups or at certain days/times.
This information is also critical for providing their insurance carrier with accurate data on the number of children – broken down by age – that is required for their coverage.
How much cash do we have on hand during which weeks of the month?
Knowing the timing and amount of money you’re going to collect is priceless information. Historical enrollment and payment data lays this out very clearly and helps Jen to do a better job budgeting and spending. She can also see when investments in growth efforts can be timed to reduce or eliminate their impact to operational spending commitments.
How many customers have pre-paid at year’s end?
While this is also a cash flow tracker, it also shows who hasn’t pre-paid. When it comes to collecting money, knowing who hasn’t paid is ultimately more critical than who has.
How many times have customers enrolled? This retention analysis gives Jen very valuable information on her business profitability and the sustainability of those profit centers.
This information tells Jen what the average retention time is for each family, i.e. how long their life cycle with the gym will be and which classes are retaining the most children. Using this information, Sara can also provide Jen with the average dollar value of each student to the business.
“The Enrollment Detail Report is invaluable to us. At first it can be overwhelming because of the sheer amount of information it contains. But it’s critical to be able to use it to make decisions that will help your gym to prosper.” Sara Trevathan
Enrollment Snapshot #1
Sara uses this report to see how enrollments are going for that particular day.
How many kids does it take in each class to make it profitable?
By tracking enrollment snapshot numbers, Sara creates a break even analysis for each program for each term. Analyzing these numbers can help to determine if a class is unsuccessful. Should prices be raised or should he class be cancelled or even discontinued?
Profitability data helps them with classes like camps because they can actually use the data to learn from mistakes instead of not knowing the sources of issues that caused them.
When does each class reach profitability?
This information also gives them their break even date for each class so that they easily and clearly know when during the cycle of the session each class becomes profitable.
Advanced Transaction Search
Have we received all monies due to us?
Sara finds this report valuable in comparing transactions against actual monies collected. If her actual is different than her transactions, she needs to do some digging into why.
Paid Fees Summary
What kind of cash flow should we expect?
Sara uses this data to project out cash flow and to predict when it will come in. By using her historical data, Sara can create assumptions that are very accurate. The options in this report enable payment analysis to be broken down into categories so that you even know how much of each type of payment (cash/credit card/account credit) will come in.
Aged Accounts Report
Who owes us money?
Sara uses this report to track people with outstanding payments so that they can be effectively and quickly managed.
“I love the detail of the reports. I can pick and choose what information I want. I’m so thankful that there are lots of choices.” Sara Trevathan
“There is HUGE value in using reports and leveraging all of the data they provide. The details open the door to understanding your business. It shows you what’s happening so you can take action before it’s too late. I don’t even think I can articulate how important it is to know the pace and timing of cash flow. The entire business depends on this. Understanding it takes guessing out of the equation.” Sara Trevathan
Value Realized Daily
Before Sara, reports were not used. When she came, she really got into it and found the level of detail amazing. The metrics that can be produced are fascinating.
“It’s simply had a tremendously positive impact on the business.” Sara Trevathan
Gym owner, Jennifer Hood, can’t say enough about the value that using Jackrabbit’s reporting adds to the way the gym operates today.
- Decision making is based on hard facts.
- Because we can predict we are able manage fluctuations in our cash flow.
- Hard numbers give our team a unified goal to work towards
- Knowing where we stand today frees up time and energy to focus on other
“Fact-based decision making is an easier and more efficient way to make choices about what classes to run and when to run them. The predictive capabilities that reports unleash for us are amazing because cash flow pressures are eliminated by knowledge.
We’re able to establish targets and markers using report data so we all know when we are doing our jobs well and can actually see the growth. We’re also able to compare progress today against historical data. Again, this eliminates guessing. Our weekly check-ins tell us if we’re on track and can move on to other projects or if we’re lagging behind and we need to discuss why and roll out a plan to move us back on track.” Jennifer Hood