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Client in Focus: Gosford Race Club Posted on October 9, 2018
Mr Heddo, who has been at the helm of GRC since September 2008, was charged with responsibility of leading the club into to an era of change management and continual improvement.
This month we talk to Mr Heddo on the future direction of the club for the residents of the Central Coast and the way the industry is evolving.
The GRC held its first meeting in 1913 and since then has consistently been a leader in provincial racing outside the metropolitan area.
In 2008, the board of directors sought new direction and an injection of “fresh ideas” and appointed James Heddo as CEO who has been in the racing industry and administration since 1988.
Mr. Heddo has high expectations for the clubs future, “Our board and the members & guests of the GRC, recognise that the race club is a valuable community asset. We have a modern function and dining venue and we want to keep delivering on the expectations we have set not only for ourselves, but the Central Coast community.”
Mr. Heddo also outlined the GRC 12 month goals, “We want to grow the race day function business but also provide new offerings such as Friday twilight race events in the summer months. We have a unique entertainment venue offering a vibrant and affordable entertainment experience. Our ultimate goal is to conduct Friday night meetings which would commence at 7.00pm and offer a unique experience on the Central Coast”
In 2010 the GRC and Mr. Heddo made a decision that in order to realise the goals they had set, they needed expert advice and modernised monthly management information, delivered in a timely manner.
They engaged Robson Partners to become their Outsourced Chief Financial Officer (CFO), to provide them with streamlined accounts as well as providing a more financially viable solution.
“The best thing about having our own CFO, is that we receive a detailed explanation of what the figures mean in addition to having a “new” set of eyes interpreting our results”
“Our CFO will assist with initiatives such as Friday night racing, and will ensure that the financial benefits are properly realised.”
Courtney Jones CA from Robson Partners is a key point of contact for the race club and describes her involvement, “The GRC is going through an exciting period of change and growth. James and his team are dedicated to constant improvement we are excited to help them realise their vision, not only for the club, but the entire Central Coast.”
The outsourced CFO program has enabled the executive team to formalize strategic direction for the club, make savings of approximately 50k annually on wages, and put a structure in place to ensure ongoing viability.
Mr. Heddo sums up the club, “We need to create a niche for ourselves, a point of difference from other race clubs, and we are well on way to achieving this.”
This is evident throughout April – one of the busiest months on the GRC calendar.
On Sunday 17 April the Club runs the $250,000 Gosford 3YO Guineas, which is the richest race ever run at a Provincial racetrack – this is a huge achievement from the leadership team at GRC. In addition, on Monday 25 April, the Club will run its traditional Anzac Day race meeting, with a huge crowd expected.
There are great dining packages to suit all budgets for both of these events, so for any further information ring the Gosford Race Club on 4325 0461 or go to www.gosfordracing.com.au
In addition, if you would like to know more about how an outsourced CFO can help your business click here.