Grapevine-Colleyville ISD could generate over $570,000 in additional revenue over three years as it explores selling reserved stadium seating and advertising on speed bumps and stadium seat backs.
Trustees unanimously approved forming an implementation committee for the revenue-generating ideas during the June 15 meeting.
The overview
GCISD created the Revenue Growth Committee, which includes community members, trustees and GCISD staff, in January. Committee members recommended exploring booking events, such as camps or concerts, at Mustang-Panther Stadium, adding paid reserved seating at the stadium, selling advertising on speed bumps at district facilities and optimizing concession sales, which trustees considered during the May 18 meeting.
Following the board’s feedback, the committee met again and scaled down its recommendation to just include paid reserved parking, limited advertising on the backs of stadium seats and advertisements on speed bump advertising, according to district documents. Over three years, the implementation could generate $572,600 in additional revenue for GCISD, per district documents.
John Klein, managing director of CEVOH, a company dedicated to revenue growth ideas, said he recommended initially using a manual booking system and considering a dedicated portal for bookings in the future. He also recommended rallying a local sales team to pursue bookings from alumni, super patrons and legacy families, while utilizing a paid sales representative working on commission to solicit sales from corporate clients.
More details
GCISD officials anticipate implementing some of the changes immediately and others across multiple phases, per district documents. Revenues generated from the sales are expected to be placed into a restricted fund.
According to Klein’s presentation, the district anticipates earning:
- $122,700 in the first year, with 60% of available spaces sold
- $204,500 in the second year, with 100% of available spaces sold
- $245,400 in the third year, with a projected 20% increase because of more bookings
What they’re sayingTrustee Matt Foust said he is supportive of the ideas and goals of the initiatives discussed.
“The way I’m thinking about this is that it takes a long time to write a novel, but I feel like y’all have done a very capable job writing the prologue for this and laying the foundation,” he said.
