In my view Subs should cover the shed’s operating costs. If not financial peril is lurking.
The recent AGM meeting discussed an increase of £1. Completely inadequate. Reason given for this was potential loss of members. For a current total membership of 52 and subs of £15 p.a. the total annual revenue is 52 x £15 = £780. If Subs are increased to £16 this rises to £832 p.a. – a gain of £52 if no member resigns.. If it is assumed that this miniscule increase led to 3 members resigning the loss in revenue is £48 (3 x £16) giving a net gain of £4 i.e annual subs revenue of £784. Not worth the effort in my view.
Current subs of £15 p.a for our typical membership of 52 equates to just under 29 pence per week.
If the subs were increased to £25 p.a. equivalent to approximately 48 pence per week the the annual income would be, for a membership of 52, £1300. If this led to 10 members leaving then the loss in revenue would be £250 (10 x £25) giving a subs income of £1050. That is an increase from the current annual subs income of £270 p.a. Of course if the loss of members was less than 10 the increase would be greater e.g. if no member resigns then the increase in subs revenue would be £520
I can’t imagine that many of the members present at the AGM would leave the ‘shed’ for an increase in subscriptions to £25 p.a. (i.e. a weekly increase of about 19 pence). Most, if not all,of those present, are happy to purchase a refreshment drink (includes me), at the bar, at the regular Friday meetings. Given that a small cup of tea cost well over £1 it seems to me that a subscription increase equivalent to less than 20 pence a week is of no consequence.
What do shed members think? Some lively discussion is encouraged.😜