Sponsorship is not about you and this week in the Business of Being a Race Driver you will understand why. You will also learn why you should plan ahead, get details on two great webinars to attend and exploring the various paths to Formula 1.
The Business of Racing
Alexandra Schieren of Alexandra Schieren Sports Communication explains the one big mistake a lot of drivers make when looking for sponsorship.
“Most racer are looking for sponsorship – and go about it the completely wrong way. Why? Because they make it all about themselves. It is the one big mistake that will kill each sponsorship proposal. But it is about me, I hear you say. I drive, I need the money. Sure, but why would anybody give you money (apart from family or very close friends)? Surely not because you want to become an F1 driver.”
Join Alex Striler and guests on Friday, December 13 for PRI’s Educational Seminar on Sponsorships, upstairs in the convention center from 1-2pm. More information on the PRI trade show can be found here.
The Racing Mentor has two great webinars coming up that you should look into. The best part are that they feature flexible pricing. “Last year, we trialed flexible pricing to ensure that anyone who wanted to attend the training could. We want to ensure that information about sponsorship is accessible to as many people as possible. The recommended price is £19 but you can choose to pay what you can afford.”
Here are the seminars:
How to build a brand as a racing driver
Thursday, August 29
1:00 PM – 2:00 PM EDT
Learn to stand out and attract sponsorship through great content with a brand that clearly defines who you are and why a business would want to work with you.
In this webinar, you’ll learn:
- How a strong brand will help you secure sponsorship
- How to stand out over other drivers
- The importance of personal branding
- Quick wins to improve your online presence
You can register for the webinar here.
How to think like a business to secure sponsorship
Thursday, September 5
1:00 PM – 2:00 PM EDT
Learn how to secure sponsorship by thinking like a business. Discover strategies for building relationships with sponsors, crafting compelling proposals, and maximising your value proposition.
In this webinar, you’ll learn:
- The basics of business, marketing, and sales
- What decision-makers are looking for
- Determining business goals to improve your pitch
- Lessons from startups
You can register for the webinar here.
In the video above, Enzo Mucci explains the different career paths to get to F1 based on his experience in motorsport. “Let’s look at the different ways in which you can reach F1, and what links all drivers that make it.”
The Costs of Racing
Join the 2025 Caterham Academy season! Created exclusively for novice drivers, the Caterham Academy is Europe’s largest factory-backed racing championship. The 2025 7-round championship series season all-inclusive package, from just £38,990, includes:
- Self-assembly, configurable, road-legal race car, yours to keep.
- Your racing licence.
- 7-round championship series.
- Technical support.
- Expert tuition and guidance from the Caterham team.
Secure your seat for 2025 here.
Motorsport Hackers has a breakdown on the costs of racing single-seaters. While it is well researched, the costs for F4 are based on racing in the American F4 series and do not look at other global F4 series where costs can vary wildly, depending on the amount of testing you do.
Competing in a full season of F4, F3, and F2 involves significant financial commitments for drivers.
Based on different sources such as statistics, drivers themselves, and professionals from the industry, here is a little summary for you:
500K for 10 Races? The shocking cost of racing… + Weekly Job Alert
- Formula 4: Costs typically range from $400,000 to $600,000 per season.
- Formula 3: The expenses increase to between $600,000 and $1,700,000. This higher cost reflects advanced car technology. Additionally, the more famous and developed the team is, the more expensive the entry fees.
- Formula 2: As a direct path to Formula 1, F2 costs are the highest, ranging from $1,500,000 to $3,000,000 per season.
Author: Mark Boudreau
Mark is the publisher of Motorsport Prospects. As a former lawyer, he applies his legal background and research skills to assist race drivers by showcasing the resources they need to make their motorsport careers happen.
