The Business of Being a Race Driver covers all those things that you need to do off the track, such as marketing and branding, building a sponsorship deck and social media presence, researching and meeting potential sponsors, servicing the sponsors you already have and everything involved in getting the money for your racing budget. It also involves figuring out what to spend that budget on. The cost of racing includes not just what you are paying a team to race but a number of other expenses such as insurance, racing supplies like suits and helmets and all the myriad other costs involved in what is an expensive sport to compete in.
This week I bring you tips and advice related on determining whether it is a website or social media that you need, 8 things to know about motorsport insurance, thinking outside the sponsorship box, and the costs involved in buying your racing car from Porsche direct. I also have details on some remaining drives available in a new all-electric racing series.
The Business of Racing
Website or Social Media?
Megan Lingner dives into the social media vs. website debate to determine, which is it that you need? Hint: You should definitely have a website. Read the article to understand why.
Thinking Outside of the Sponsorship Box
Megan also points out the recent news that rapid grocer Gopuff has sponsored the McLaren Formula 1 team to point out: “Want to stand out when pitching? You can get creative with cool ideas to promote their brand as part of your proposal!” Click to here to read what McLaren and Gopuff came up with for their racing partnership.
The Costs of Racing
There are some costs that are obvious, even to a new race driver, and some that are less so. Motorsport insurance usually falls under the latter. Proper motorsport insurance could mean the difference between racing a full season and ending your racing year early. Here are 8 things about Motorsport Insurance that you should know.
Porsche Customer Racing
Forbes has a great article on the North American division of Porsche Customer Racing. “High-performance race cars aren’t inexpensive, yet Porsche’s pricing appears very reasonable when considering the premiums consumers are paying for street-legal sports cars in showrooms today. For example, a 2022 Porsche 718 Cayman GT4 RS Clubsport has a base price of $229,000, while the 2022 Porsche 911 GT3 Cup (992 chassis) starts at $269,000. A revered 2020 Porsche 911 GT3 R lists for $535,000. Keep in mind that those prices don’t include tax, duties, transport, color schemes, or the optional “spares” package – that’s right, bona fide racing teams must have additional wheels and components on hand to be competitive. And don’t worry if you don’t have the liquid assets, as Porsche Financial Services (PFS) offers financing programs.”
The brand new electric ERA Series Europe is about to launch their inaugural season and they have announced that there are still there are a couple of arrive and drive places still available for drivers. Get in touch with the organizers via www.erachampionship.com if you’d like to know more.