The GSA is engaging in a consultation process to transform Mike’s Place to ensure financial sustainability in our student services while also creating a space that ensures student needs are met. As part of this process, we have created a proposal for a Community Hub and are holding consultations through a campus and community survey as well as departmental consultations. This process has grown to be necessary due to the ongoing losses Mike’s Place faces after 6 years of mounting losses despite numerous changes, updates, and other efforts to turn the tide of losses.
What has the GSA tried in terms of fixing issues?
In the past five years the following efforts were made to halt the losses. This list is not exhaustive of all efforts, but represents a snapshot of just some of the efforts made:
- Created new signage over many years going back to 2015 to try and attract new customers
- Price changes
- Hourly analysis of Mike’s Place sales
- Reducing hours of operation
- Researching various food suppliers
- Introducing new beer options
- Changes to the beer specials
- Exploration of menu changes to increase margins, cutting down on menu items that do not make us a profit
- Meatless Mondays
- Significantly more events, and different types of events
- Opening on the weekends
- Flyers, billboards, and marketing changes
Below is a handy financial chart that compiles Mike’s Place expenses, sales and losses between 2015-2020. In addition, we’ve created a budget comparison chart between Mike’s Place, Mike’s Place during COVID, and a Community Hub. All numbers for Mike’s Place were compiled from our Audited Financial Statements which you can find in the Governing Docs section of our website. If you need clarity or have questions click on the email button below to send us an email!