| BoostdBoxer | 04-30-2004 08:33 PM |
Sponsorships !@! I am so stuck without ,,, some answers
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This is one of the lamest post I have made but flame me as you may,.
I am sick of getting turned down for sponsorships, I have personally invested 13 thou on my STI in 6 months and still have gotten no where with sponsorships no matter how many letters I write and no matter how many events I go to, I am sick of this, is there something more that I need to do or something I need to write that will make people hear my needs as well as what I can provide them for thier needs as a business...
please someone argggggggggg
I am sick of getting turned down for sponsorships, I have personally invested 13 thou on my STI in 6 months and still have gotten no where with sponsorships no matter how many letters I write and no matter how many events I go to, I am sick of this, is there something more that I need to do or something I need to write that will make people hear my needs as well as what I can provide them for thier needs as a business...
please someone argggggggggg
| Storm | 04-30-2004 11:02 PM |
You have to show results......
They don't care how much you've put into your car....in fact every dollar you spend is money they don't have to....and they don't have to, ya know......
Do you realize how many people are out there that do all this and more with no sponsorships at all?
Not a flame.....but, who are you and what have you accomplished besides building an expensive car (or just paying for alot of parts to be put onto the car)? That is what potential sponsors see and ask. Then there is the "What is our money buying?" "What can we expect to see in return?"
There are many ways to effectively work with a company in return for support. There is no free ride......
Jay Storm
There is a fine line between "hobby" and "mental illness".....
They don't care how much you've put into your car....in fact every dollar you spend is money they don't have to....and they don't have to, ya know......
Do you realize how many people are out there that do all this and more with no sponsorships at all?
Not a flame.....but, who are you and what have you accomplished besides building an expensive car (or just paying for alot of parts to be put onto the car)? That is what potential sponsors see and ask. Then there is the "What is our money buying?" "What can we expect to see in return?"
There are many ways to effectively work with a company in return for support. There is no free ride......
Jay Storm
There is a fine line between "hobby" and "mental illness".....
| GarySheehan | 04-30-2004 11:30 PM |
BoostdBoxer,
Honestly, sponsors couldn't care less what your needs are. The fact that you wrote about your needs before your what you have to offer shows that your not thinking about this realistically.
In whatever proposal you are giving them, you need to convince them that your promotional efforts will generate sales dollars in excess of the value of whatever they are providing you. Or, you have to convince them that your promotional efforts will generate more positive impressions than an equal amount of money spent on press, radio or TV advertising or any other promotional program they are considering spending money on.
It is pure business.
Gary
Sheehan Motor Racing
[url]www.teamSMR.com[/url]
Honestly, sponsors couldn't care less what your needs are. The fact that you wrote about your needs before your what you have to offer shows that your not thinking about this realistically.
In whatever proposal you are giving them, you need to convince them that your promotional efforts will generate sales dollars in excess of the value of whatever they are providing you. Or, you have to convince them that your promotional efforts will generate more positive impressions than an equal amount of money spent on press, radio or TV advertising or any other promotional program they are considering spending money on.
It is pure business.
Gary
Sheehan Motor Racing
[url]www.teamSMR.com[/url]
| BoostdBoxer | 05-01-2004 02:26 AM |
Thanks Gary, would there be a chance that offering to hand out promotional materials to help enhance a particular line of product at car meets and track day events help. Maybe to promise that when my name is mentioned at the track that the following would be advertised also. ??
Blah Blah driving the 2004 STi in support of HKS Motorsports is sporting the latest and greatest blah blah ... and maybe promise that I would work at a booth handing out flyers and doing voluntary work in the name of the company that is sponsoring, so that it would enhance their out in the field views and opinions ofthose that are using thier parts and product... hrrm I dont know when it boils down to it I want stuff for me and my ride and free is always better but I will actually lift an arm to help paya a business back by helping them out in return.
thanks let me know
Blah Blah driving the 2004 STi in support of HKS Motorsports is sporting the latest and greatest blah blah ... and maybe promise that I would work at a booth handing out flyers and doing voluntary work in the name of the company that is sponsoring, so that it would enhance their out in the field views and opinions ofthose that are using thier parts and product... hrrm I dont know when it boils down to it I want stuff for me and my ride and free is always better but I will actually lift an arm to help paya a business back by helping them out in return.
thanks let me know
| BoostdBoxer | 05-01-2004 02:28 AM |
also what if you havent had a chance to get in the media and press like I Tuner magazine, ? I mean some of us arent that fortunate. and some of us have sponsorships handed to them because thier car looks like a million dollar ride.
| johnfelstead | 05-01-2004 05:44 AM |
no one gets sponsorship handed to them, period! Welcome to the real world. ;)
Gaining sponsor support is seriously hard work and there is no magic formula that people can tell you. The majority of club level sponsorship support comes via personal contacts you make that you then build on. What's even harder is holding on to a sponsor, because you have to be able to see the money they just spent on you gave them a return of real value.
You can see the people who work their asses off making the sponsors happy, because they usually have the same group of sponsors for years.
The rally team i do the spanner work for had the same sponsor for 10 years, that company was in no way associated with cars or motorsport, they were a sausage manufacturer. :lol: Strange link up you would think, what we could offer them was corporate hospitality on the events, they brought all their major customers and suppliers along for a social weekend, quite often that would lead to these other companies sponsoring the rally team too so they were part of the team, we made them feel important because they were, both to us in helping fund the team and our main sponsor in building good business relationships.
We took them to test days and put them in the car on real rally stages, we took them to rally schools to drive a car themselves, the team was present at the opening of the new factory.... We were also succesful, because we used the funds wisely and didnt waste it on stuff that didnt make us faster, so we were always in the motorsport press. This reinforced the image we had of hard workers who are achieving the realistic goals we set and the sponsors always felt they were part of that achievemnt. Dont try and tell them you are going to be the next Petter Solberg or Schumacher because they will laugh at you, be a realist.
We also worked hard on gaining local media coverage and food industry trade paper coverage. It's important to be imaginative and work hard on this, no one is going to say yes to you unless you can show they get a return on their investment, be that finacially or in publicity/ business to business relationship building.
Even with this suport, we spent a fortune of our own money building the car and going to the events. All the team members paid their own expenses on a rally weekend, the sponsor money was spent on running the car and giving the sponsors value. If they see you arent as commited as them to the task they will run a mile. Motorsport is expensive and only a few people make this pay or even break even, the vast majority out there are spending every penny they have on this. If you dont have that level of personal comitment you are in the wrong sport.
Gaining sponsor support is seriously hard work and there is no magic formula that people can tell you. The majority of club level sponsorship support comes via personal contacts you make that you then build on. What's even harder is holding on to a sponsor, because you have to be able to see the money they just spent on you gave them a return of real value.
You can see the people who work their asses off making the sponsors happy, because they usually have the same group of sponsors for years.
The rally team i do the spanner work for had the same sponsor for 10 years, that company was in no way associated with cars or motorsport, they were a sausage manufacturer. :lol: Strange link up you would think, what we could offer them was corporate hospitality on the events, they brought all their major customers and suppliers along for a social weekend, quite often that would lead to these other companies sponsoring the rally team too so they were part of the team, we made them feel important because they were, both to us in helping fund the team and our main sponsor in building good business relationships.
We took them to test days and put them in the car on real rally stages, we took them to rally schools to drive a car themselves, the team was present at the opening of the new factory.... We were also succesful, because we used the funds wisely and didnt waste it on stuff that didnt make us faster, so we were always in the motorsport press. This reinforced the image we had of hard workers who are achieving the realistic goals we set and the sponsors always felt they were part of that achievemnt. Dont try and tell them you are going to be the next Petter Solberg or Schumacher because they will laugh at you, be a realist.
We also worked hard on gaining local media coverage and food industry trade paper coverage. It's important to be imaginative and work hard on this, no one is going to say yes to you unless you can show they get a return on their investment, be that finacially or in publicity/ business to business relationship building.
Even with this suport, we spent a fortune of our own money building the car and going to the events. All the team members paid their own expenses on a rally weekend, the sponsor money was spent on running the car and giving the sponsors value. If they see you arent as commited as them to the task they will run a mile. Motorsport is expensive and only a few people make this pay or even break even, the vast majority out there are spending every penny they have on this. If you dont have that level of personal comitment you are in the wrong sport.
| mykrrrr | 05-01-2004 05:55 AM |
What is it with people having to be "sponsored" these days???
I see it with cars, skateboarding, snowboarding, etc... I grew up in the snow and skate world and we never had thoughts of being sponsored; we just rode because it was fun. These days the first thing out of kids mouths' is "how do I get sponsored..." :rolleyes: It's the same with cars.
As others have said, you need to show results and professionalism to potential sponsors not just "I spent XXX amount on my car, it's dope and I should be sponsored.
I race mini motorcycles and motorscooters and my "sponsor" is my friends' scooter shop. I pay to have him maintain a race bike for me. It's the closest thing to a "sponsor" we've got in our little race world. I promote the shop @ races and do pretty well (if I may puff my chest up and brag a bit...) I do all this because I like supporting a friend and that's it. :p
Anyhoo...enough about sponsorships and what have you...just enjoy your car.
-mykr.
I see it with cars, skateboarding, snowboarding, etc... I grew up in the snow and skate world and we never had thoughts of being sponsored; we just rode because it was fun. These days the first thing out of kids mouths' is "how do I get sponsored..." :rolleyes: It's the same with cars.
As others have said, you need to show results and professionalism to potential sponsors not just "I spent XXX amount on my car, it's dope and I should be sponsored.
I race mini motorcycles and motorscooters and my "sponsor" is my friends' scooter shop. I pay to have him maintain a race bike for me. It's the closest thing to a "sponsor" we've got in our little race world. I promote the shop @ races and do pretty well (if I may puff my chest up and brag a bit...) I do all this because I like supporting a friend and that's it. :p
Anyhoo...enough about sponsorships and what have you...just enjoy your car.
-mykr.
| DonA | 05-01-2004 09:00 AM |
I haven't put a cent toward modding my STi and I picked up a Sponsor last week. I drafted a good letter that breifly explains AutoX and how it could be a lucrative market for car sales blah blah and sent it to a local dealer.
I already have the decals on order. I set the deal for magnetic decals that are only on the car during AutoX events. I didn't want a driving billboard
I refrenced my win 2 weeks ago and some other recent strong finishes as well as other dealers already sponsoring cars.
I already have the decals on order. I set the deal for magnetic decals that are only on the car during AutoX events. I didn't want a driving billboard
I refrenced my win 2 weeks ago and some other recent strong finishes as well as other dealers already sponsoring cars.
| hyp36rmax | 05-01-2004 11:50 AM |
heh, sorry bud, you have to have something in return to show promise as a sponsor would like to see, unless your an ace on the auo-x lot to a being the only awd drifter, you need something unique to you that will sell your efforts. just putting parts on your car and asking for a sponsor isnt getting you anywhere.
just a suggestion, since you posted this in the motorsports forum, why dont you start taking your car to the track (i do mean track course with corners not just a straight line) or an auto-x circuit and improve your driver skill so that way you have something to back it up, there really isnt enough perforamance drivers out there right now when you look at import cars, all you can really see in my POV are show car queens...:rolleyes:
there really is a niche if you know how to drive your car and of course start getting better times (time attack comes inton mind :D )
hopefully you get the jist of it all, as long as you have something lucrative that a sponsor can invest in your game :p
just a suggestion, since you posted this in the motorsports forum, why dont you start taking your car to the track (i do mean track course with corners not just a straight line) or an auto-x circuit and improve your driver skill so that way you have something to back it up, there really isnt enough perforamance drivers out there right now when you look at import cars, all you can really see in my POV are show car queens...:rolleyes:
there really is a niche if you know how to drive your car and of course start getting better times (time attack comes inton mind :D )
hopefully you get the jist of it all, as long as you have something lucrative that a sponsor can invest in your game :p
| GarySheehan | 05-01-2004 01:35 PM |
BoostdBoxer,
You need to start answering these questions for yourself. How much value do you personally have for something a guy hands you at an event? Do you look at it? Do you go for the nearest trash can? Do you put it in a plastic bag and throw it in your closet a year before you throw it away, when you finally get around to cleaning your closet? The people that do hand this stuff out at events can be hired for minimum wage.
How many times have you heard someone's name announced over the loudspeaker, followed by his sponsors and thought, "Damn, I really need that product!" Probably not very many.
You have to forget about what you need for now and brainstorm to figure out what valuable services you can bring to a potential sponsor. What's your ultimate goal? What opportunities will be available in the next few years to promote your sponsors? Who can you network with to generate more leads on media opportunities? What makes you different from every other kid that wants "sponsorship" to build a cool car?
You made a point of not having an opportunity to get into Import Tuner magazine. Have you personally spoken to the editor of that magazine? Or any of the other magazines? Why not build a story about why your car is unique and not built by sponsorship dollars but by your own hard work and cash. Make it sound like a grassroots effort that many of their readers will relate to and inspire them to do the same. Spin it. Work it. YOU are the only one that's going to make it happen. Don't be waiting for someone else to bang on your door.
What type of events are you going to? What type of people go to these events? What are the demographics? How may people will see your car per event? Is there room for a sponsor display at these events? Have you talked to the event organizers to get an image of your car on the magazine ads and web ads publicizing an event?
Where is your professional looking website that details all of the things that you are doing to your car, why you did them and why you chose one vendors product over all others? Where are your press releases to tuner magazines, newspapers and enthusiast websites? What are you doing to make these potential sponsors think, "Wow, this kids project is exciting and being associated with it will help our corporate image and increase sales!"
You can do all of this stuff with a telephone, notepad, a computer and very little cash. If you think sponsorships are just handed out randomly, you are mistaken. It takes quite a lot of work to secure sponsorship product and dollars. In some cases, more work than if you just went out and bought the damned thing. Sponsorship is not free. It's actually fairly expensive when you add up the hours of time and amount of effort that goes into it. This is sales and marketing 101.
Good luck.
Gary Sheehan
Sheehan Motor Racing
[url]www.teamSMR.com[/url]
You need to start answering these questions for yourself. How much value do you personally have for something a guy hands you at an event? Do you look at it? Do you go for the nearest trash can? Do you put it in a plastic bag and throw it in your closet a year before you throw it away, when you finally get around to cleaning your closet? The people that do hand this stuff out at events can be hired for minimum wage.
How many times have you heard someone's name announced over the loudspeaker, followed by his sponsors and thought, "Damn, I really need that product!" Probably not very many.
You have to forget about what you need for now and brainstorm to figure out what valuable services you can bring to a potential sponsor. What's your ultimate goal? What opportunities will be available in the next few years to promote your sponsors? Who can you network with to generate more leads on media opportunities? What makes you different from every other kid that wants "sponsorship" to build a cool car?
You made a point of not having an opportunity to get into Import Tuner magazine. Have you personally spoken to the editor of that magazine? Or any of the other magazines? Why not build a story about why your car is unique and not built by sponsorship dollars but by your own hard work and cash. Make it sound like a grassroots effort that many of their readers will relate to and inspire them to do the same. Spin it. Work it. YOU are the only one that's going to make it happen. Don't be waiting for someone else to bang on your door.
What type of events are you going to? What type of people go to these events? What are the demographics? How may people will see your car per event? Is there room for a sponsor display at these events? Have you talked to the event organizers to get an image of your car on the magazine ads and web ads publicizing an event?
Where is your professional looking website that details all of the things that you are doing to your car, why you did them and why you chose one vendors product over all others? Where are your press releases to tuner magazines, newspapers and enthusiast websites? What are you doing to make these potential sponsors think, "Wow, this kids project is exciting and being associated with it will help our corporate image and increase sales!"
You can do all of this stuff with a telephone, notepad, a computer and very little cash. If you think sponsorships are just handed out randomly, you are mistaken. It takes quite a lot of work to secure sponsorship product and dollars. In some cases, more work than if you just went out and bought the damned thing. Sponsorship is not free. It's actually fairly expensive when you add up the hours of time and amount of effort that goes into it. This is sales and marketing 101.
Good luck.
Gary Sheehan
Sheehan Motor Racing
[url]www.teamSMR.com[/url]
| Snowphun | 05-01-2004 02:09 PM |
[QUOTE][i]Originally posted by BoostdBoxer[/i]
[B] please someone argggggggggg [/B][/QUOTE]
This is a funny thread. Do you autocross or track your car, or is it all bling?
[B] please someone argggggggggg [/B][/QUOTE]
This is a funny thread. Do you autocross or track your car, or is it all bling?
| HOK | 05-01-2004 06:48 PM |
its always about accomplishments what have you done that makes you stand out?
| Kostamojen | 05-01-2004 07:00 PM |
I sponsor myself. Try it, it works.
| ANZAC_1915 | 05-01-2004 07:31 PM |
Some good advice here already, but I'll add $0.02.
There is a VERY excellent chapter on sponsorship in Russell Brookes book "Stage by Stage" (buy a copy here: [url]http://dogbert.abebooks.com/servlet/BookDetailsPL?bi=260377170[/url]) -- although John has mentioned a lot of things in it.
I like the phrase "delivering value" --- that's what you should focus on in your pitch.
Another note is that my pitches that have been very brief and to the point have been far more successful than my full color presentations. (time is money)
Glenn
sponsored by "Visa and Mastercard"
There is a VERY excellent chapter on sponsorship in Russell Brookes book "Stage by Stage" (buy a copy here: [url]http://dogbert.abebooks.com/servlet/BookDetailsPL?bi=260377170[/url]) -- although John has mentioned a lot of things in it.
I like the phrase "delivering value" --- that's what you should focus on in your pitch.
Another note is that my pitches that have been very brief and to the point have been far more successful than my full color presentations. (time is money)
Glenn
sponsored by "Visa and Mastercard"
| MonoSki | 05-01-2004 08:27 PM |
[QUOTE][i]Originally posted by BoostdBoxer[/i]
[B] This is one of the lamest post I have made but flame me as you may,.
I am sick of getting turned down for sponsorships, I have personally invested 13 thou on my STI in 6 months and still have gotten no where with sponsorships no matter how many letters I write and no matter how many events I go to, I am sick of this, is there something more that I need to do or something I need to write that will make people hear my needs as well as what I can provide them for thier needs as a business...
please someone argggggggggg [/B][/QUOTE]
Besides being self-centered in your whine, your whole post is a single run on sentence...
Like others have said, what has the money you spent generated?
Articles in the newspaper, magazines, ect? What would be in it for the sponsor? What do you race in? drags? auto-x?
I could go on, but I will leave it at this.
WIFM - What's in it for me. Think of ME as the sponsor, not yourself for once.
:huh:
[B] This is one of the lamest post I have made but flame me as you may,.
I am sick of getting turned down for sponsorships, I have personally invested 13 thou on my STI in 6 months and still have gotten no where with sponsorships no matter how many letters I write and no matter how many events I go to, I am sick of this, is there something more that I need to do or something I need to write that will make people hear my needs as well as what I can provide them for thier needs as a business...
please someone argggggggggg [/B][/QUOTE]
Besides being self-centered in your whine, your whole post is a single run on sentence...
Like others have said, what has the money you spent generated?
Articles in the newspaper, magazines, ect? What would be in it for the sponsor? What do you race in? drags? auto-x?
I could go on, but I will leave it at this.
WIFM - What's in it for me. Think of ME as the sponsor, not yourself for once.
:huh:
| RaceComp Engineering | 05-02-2004 01:34 AM |
Reality Racing LLC....
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Boosted Boxer, every part of what the guys above have already said is TRUE, so the reality starts now, this almost has to be reset button time with your understanding of how this whole thing works.
What I'll do is try to help you in some simple ways, as I am kinda like the kid in 7th grade who got past 3rd base, and was coming to home plate and slid into home plate, but was called "out". As in got laid but blacked out, so there is no memory. I tell you this so you understand, and you can tell me if you want my help.
I started autocrossing in 85,won some regionals, started driving track events like in 93, started instructing in 98 and racing in99. After some minor regional success, I watched a good friend of mine( semi wealthy as in could afford a 100k a year campaign on his own) do some Speedvision races and finsih midpack out of 45 cars, with some big dogs, which we all could call that respectful, considering the pace and close pack they run. well, on anygiven day we were equals in karts, autocrossing, Panoz cars, and Porsche club racing, as our cars were set up the same. So I figured, ***, why not go for the next level. Only difference being his racing budget was my yearly gross income, WITH,..a kid, house in a top suburban area ( Washington DC) and regular local racing to support,..point being,..not alot of money left over. So while working for a large Mercedes Benz dealer I ran accross a customer who saw a picture of me racing a Panoz car, and HE took some interest in .....listen to the wording here,....................
"getting involved in racing" on some level. So I did what you're suppose to do,...casually invite him to the track, and see if HE follows up with you,..well he did !! WOW,.I thought,.I'm on my way, even if for a couple of grand for regional racing. So he could nt make it to the race, but he did just show up at a local drivers ed, and tracked me down, and asked me straight up,.." you still need a sponsor for that DC Grand Prix?....which had just been announced July 17, 2001. And for me , thats closer than my what I called my hometown track !! So we worked on a deal for a "one off" event and he would pay for my one off with a team I had worked with before and knew personally.
So here I was finally sponsored, oh I left out the part where for 18 months after that day, I had to write detailed proposal after proposal, explaining where every single dollar goes, and in this case to drive a competive BMW in Speed World Challenge was about $ 15k plus insurance, so in the grand sceme of things, not a lot of money you say,.......well it is,....but well talk about that later. ( first imagine yourself "giving away" what ever amount of money you ask for , because thats what it really is as it doesnt really generate dollars for most sponsors, not til you get way up the ladder in events that are televised. In my case I was lucky as SCCA already had a great demographics package, BUT, not for the DC race, as it was its first year. The closest market was ATLANTA, buts thats a permanent course.
So after 18 months, and sitting out 2002, just as I secured the money in letter form, and was celerbrating,..it was announced that the Washington DC GRand Prix event was cancelled. All my work up in smoke,.,...well not entirely I thought,..and no longer than 3 hours after it was announced, the owner of 110 regional fast food locations in the Tri-state area pulled the plug on my little 15k project, as fast as it had taken him to say the words we all would love to hear,.....it took that long to shut it down. He didnt want to do any other venue, or any other type of racing, nothing. Mind you this was a 46million viewer based televised event, with a 1 hour format. That was taken hard that day, week, month,.........
But you keep trying and never give up, as you never know. My whole point here wasnt to take myself down memory lane, its to let you know, you are not alone my friend, it is the single toughest thing to do. I know people who are established drivers, who find it hard to get sponsors.
So once you start as someone already said, looking at it from the other perspective,as in what can I do for my sponsor, and realize that you may have to pay for things for YEARS before anyone comes though with money. And even then it might just be 10% of what you need.
So here is how I can help, amidst running a business full time, I would love to talk to you, and here what some of your approaches have been, and maybe I can offer some suggestions.
One thing though, you need to ask yourself, " am I in this for the long hall, or is this a temp thing?.....reason is, it makes a difference. You cant give up, as that trait can be detected by people sometimes,..as the people who may want to pay money want to know that you are not a quiter !!
1. I would start by organizing and coming up with a name of your effort.
2. Document and take pictures of what everyone who is sponsored does at events to give bang for the buck.
3. maybe even start a small LLC. under your racing effort as some people , companies would rather know that there is some accountibility with the organization or group that they give money to.
4. keep racing and find other people to help with your project who have the same "drive" and ambition as you.
5. Dont give up.
6. find someone like a grant writer who will help you through the proposal process. When I started a grant writer helped me alot.
7. talk to people who have alot of backing now, ask them how they started out.
8. be humble about how long this may take, and realize that it could be YEARS....
9. 10 people with 500.00 is better than one person with 5k.
10. anything is considered "sponsorship" from the Gatoraide you drink at an event to the tire pressure gauge, you have to start somewhere.
11. maybe have some potential sponsors just come see you drive, dont talk about money, or support. Kindsa like the "nice guy" who gets the babe by being freinds first.
12. just realize you wil soend your own money for a while, before other people start giving it up, because they are just "giving it up"
I hope this helps you,..I know it's hard, as I am still close to finding something for the Panoz Pro series by years end. I knew I wanted to race cars since I was 4 years old, so for me, I'll never give up. My son is four and starting in go-karts, so he already has a understanding that there are people who assist with money to help the sport of racing. So he has his god father paying for half his Comer 30cc kart. If lucky, when he is older, if he chooses that route, he'll know how to do it, and who to call.
944 turbo guy
Myles Williams
Racecomp Engineering LLC
[url]www.racecompengineering.com[/url]
2720 Sisson st .
Baltimore, Md 21211
410-366-RACE (7223)
410-707-0108 cell
PS--- As I layed down to go to sleep, I thought,...50% of it is luck,..being in the right place at the right time. It might not hurt if people knew you were open to the idea. I ran a couple of races with a large local companies name on my hood for free, the thinking was, other potential business owners may want their name on my hood, it worked and the next guy actually contributed $ 1000.00 for the season, and he was a local guy. He owned a couple of Party City stores. Truth be told, he was very kool, wrote me a check, and never came to the track again !! I sent him pictures, which he liked. So you never know who will be , or could be. But its like my dad ( who could care less about racing ) used to tell me,..if someone sees you trying, someone will offer to help. There is a guy who has been talking about coming to the track and cant afford it on my local board, so to make it easy for him to at least come to the track, and start learning,..I told him I would pay, and show up and instruct, all he has to do is show up. So he finally signed up. Is that sponsorship,..actualy yes,..because thats $ 200.00 he doesnt have to pay. It kinda like finding that special person, most of the time, what you're looking for is right under your nose.
Good night and goodluck !!
What I'll do is try to help you in some simple ways, as I am kinda like the kid in 7th grade who got past 3rd base, and was coming to home plate and slid into home plate, but was called "out". As in got laid but blacked out, so there is no memory. I tell you this so you understand, and you can tell me if you want my help.
I started autocrossing in 85,won some regionals, started driving track events like in 93, started instructing in 98 and racing in99. After some minor regional success, I watched a good friend of mine( semi wealthy as in could afford a 100k a year campaign on his own) do some Speedvision races and finsih midpack out of 45 cars, with some big dogs, which we all could call that respectful, considering the pace and close pack they run. well, on anygiven day we were equals in karts, autocrossing, Panoz cars, and Porsche club racing, as our cars were set up the same. So I figured, ***, why not go for the next level. Only difference being his racing budget was my yearly gross income, WITH,..a kid, house in a top suburban area ( Washington DC) and regular local racing to support,..point being,..not alot of money left over. So while working for a large Mercedes Benz dealer I ran accross a customer who saw a picture of me racing a Panoz car, and HE took some interest in .....listen to the wording here,....................
"getting involved in racing" on some level. So I did what you're suppose to do,...casually invite him to the track, and see if HE follows up with you,..well he did !! WOW,.I thought,.I'm on my way, even if for a couple of grand for regional racing. So he could nt make it to the race, but he did just show up at a local drivers ed, and tracked me down, and asked me straight up,.." you still need a sponsor for that DC Grand Prix?....which had just been announced July 17, 2001. And for me , thats closer than my what I called my hometown track !! So we worked on a deal for a "one off" event and he would pay for my one off with a team I had worked with before and knew personally.
So here I was finally sponsored, oh I left out the part where for 18 months after that day, I had to write detailed proposal after proposal, explaining where every single dollar goes, and in this case to drive a competive BMW in Speed World Challenge was about $ 15k plus insurance, so in the grand sceme of things, not a lot of money you say,.......well it is,....but well talk about that later. ( first imagine yourself "giving away" what ever amount of money you ask for , because thats what it really is as it doesnt really generate dollars for most sponsors, not til you get way up the ladder in events that are televised. In my case I was lucky as SCCA already had a great demographics package, BUT, not for the DC race, as it was its first year. The closest market was ATLANTA, buts thats a permanent course.
So after 18 months, and sitting out 2002, just as I secured the money in letter form, and was celerbrating,..it was announced that the Washington DC GRand Prix event was cancelled. All my work up in smoke,.,...well not entirely I thought,..and no longer than 3 hours after it was announced, the owner of 110 regional fast food locations in the Tri-state area pulled the plug on my little 15k project, as fast as it had taken him to say the words we all would love to hear,.....it took that long to shut it down. He didnt want to do any other venue, or any other type of racing, nothing. Mind you this was a 46million viewer based televised event, with a 1 hour format. That was taken hard that day, week, month,.........
But you keep trying and never give up, as you never know. My whole point here wasnt to take myself down memory lane, its to let you know, you are not alone my friend, it is the single toughest thing to do. I know people who are established drivers, who find it hard to get sponsors.
So once you start as someone already said, looking at it from the other perspective,as in what can I do for my sponsor, and realize that you may have to pay for things for YEARS before anyone comes though with money. And even then it might just be 10% of what you need.
So here is how I can help, amidst running a business full time, I would love to talk to you, and here what some of your approaches have been, and maybe I can offer some suggestions.
One thing though, you need to ask yourself, " am I in this for the long hall, or is this a temp thing?.....reason is, it makes a difference. You cant give up, as that trait can be detected by people sometimes,..as the people who may want to pay money want to know that you are not a quiter !!
1. I would start by organizing and coming up with a name of your effort.
2. Document and take pictures of what everyone who is sponsored does at events to give bang for the buck.
3. maybe even start a small LLC. under your racing effort as some people , companies would rather know that there is some accountibility with the organization or group that they give money to.
4. keep racing and find other people to help with your project who have the same "drive" and ambition as you.
5. Dont give up.
6. find someone like a grant writer who will help you through the proposal process. When I started a grant writer helped me alot.
7. talk to people who have alot of backing now, ask them how they started out.
8. be humble about how long this may take, and realize that it could be YEARS....
9. 10 people with 500.00 is better than one person with 5k.
10. anything is considered "sponsorship" from the Gatoraide you drink at an event to the tire pressure gauge, you have to start somewhere.
11. maybe have some potential sponsors just come see you drive, dont talk about money, or support. Kindsa like the "nice guy" who gets the babe by being freinds first.
12. just realize you wil soend your own money for a while, before other people start giving it up, because they are just "giving it up"
I hope this helps you,..I know it's hard, as I am still close to finding something for the Panoz Pro series by years end. I knew I wanted to race cars since I was 4 years old, so for me, I'll never give up. My son is four and starting in go-karts, so he already has a understanding that there are people who assist with money to help the sport of racing. So he has his god father paying for half his Comer 30cc kart. If lucky, when he is older, if he chooses that route, he'll know how to do it, and who to call.
944 turbo guy
Myles Williams
Racecomp Engineering LLC
[url]www.racecompengineering.com[/url]
2720 Sisson st .
Baltimore, Md 21211
410-366-RACE (7223)
410-707-0108 cell
PS--- As I layed down to go to sleep, I thought,...50% of it is luck,..being in the right place at the right time. It might not hurt if people knew you were open to the idea. I ran a couple of races with a large local companies name on my hood for free, the thinking was, other potential business owners may want their name on my hood, it worked and the next guy actually contributed $ 1000.00 for the season, and he was a local guy. He owned a couple of Party City stores. Truth be told, he was very kool, wrote me a check, and never came to the track again !! I sent him pictures, which he liked. So you never know who will be , or could be. But its like my dad ( who could care less about racing ) used to tell me,..if someone sees you trying, someone will offer to help. There is a guy who has been talking about coming to the track and cant afford it on my local board, so to make it easy for him to at least come to the track, and start learning,..I told him I would pay, and show up and instruct, all he has to do is show up. So he finally signed up. Is that sponsorship,..actualy yes,..because thats $ 200.00 he doesnt have to pay. It kinda like finding that special person, most of the time, what you're looking for is right under your nose.
Good night and goodluck !!
| nunyo | 05-02-2004 08:23 AM |
I have recently acquired my first "sponsor". It actually happened in a very organic way. There is a Tire Kingdom store near where I work. I go there for tire mounting and alignment work. Basically the stuff I'm not equipped to do in my own garage. Having been a regular customer for a while, it didn't take long for the manager to notice that I was up to something. The average driver doesn't ask for maximum negative camber all the way around and come back later with evenly worn tires. We got to talking about autocross and he started giving me some discounts on work done for my autocrossing effort. Since he's been so cool with me about those things, I offered to put some stickers on magnets and put them on the car for events. So for me its a sponsorship of cost reduction. They aren't giving me any cash, but they're helping to reduce the cost of my addiction for me. I think its a nice setup and I'm pretty excited about it. I also like the idea that it could lead to more as indicated in a previous post.
| Fitz | 05-02-2004 09:52 AM |
Some great advice by Racecomp Engineering as well as others in this thread.
Fitz
Fitz
| hyp36rmax | 05-02-2004 12:13 PM |
[QUOTE][i]Originally posted by RaceComp Engineering[/i]
[B] Boosted Boxer, every part of what the guys above have already said is TRUE, so the reality starts now, this almost has to be reset button time with your understanding of how this whole thing works.
What I'll do is try to help you in some simple ways, as I am kinda like the kid in 7th grade who got past 3rd base, and was coming to home plate and slid into home plate, but was called "out". As in got laid but blacked out, so there is no memory. I tell you this so you understand, and you can tell me if you want my help.
I started autocrossing in 85,won some regionals, started driving track events like in 93, started instructing in 98 and racing in99. After some minor regional success, I watched a good friend of mine( semi wealthy as in could afford a 100k a year campaign on his own) do some Speedvision races and finsih midpack out of 45 cars, with some big dogs, which we all could call that respectful, considering the pace and close pack they run. well, on anygiven day we were equals in karts, autocrossing, Panoz cars, and Porsche club racing, as our cars were set up the same. So I figured, ***, why not go for the next level. Only difference being his racing budget was my yearly gross income, WITH,..a kid, house in a top suburban area ( Washington DC) and regular local racing to support,..point being,..not alot of money left over. So while working for a large Mercedes Benz dealer I ran accross a customer who saw a picture of me racing a Panoz car, and HE took some interest in .....listen to the wording here,....................
"getting involved in racing" on some level. So I did what you're suppose to do,...casually invite him to the track, and see if HE follows up with you,..well he did !! WOW,.I thought,.I'm on my way, even if for a couple of grand for regional racing. So he could nt make it to the race, but he did just show up at a local drivers ed, and tracked me down, and asked me straight up,.." you still need a sponsor for that DC Grand Prix?....which had just been announced July 17, 2001. And for me , thats closer than my what I called my hometown track !! So we worked on a deal for a "one off" event and he would pay for my one off with a team I had worked with before and knew personally.
So here I was finally sponsored, oh I left out the part where for 18 months after that day, I had to write detailed proposal after proposal, explaining where every single dollar goes, and in this case to drive a competive BMW in Speed World Challenge was about $ 15k plus insurance, so in the grand sceme of things, not a lot of money you say,.......well it is,....but well talk about that later. ( first imagine yourself "giving away" what ever amount of money you ask for , because thats what it really is as it doesnt really generate dollars for most sponsors, not til you get way up the ladder in events that are televised. In my case I was lucky as SCCA already had a great demographics package, BUT, not for the DC race, as it was its first year. The closest market was ATLANTA, buts thats a permanent course.
So after 18 months, and sitting out 2002, just as I secured the money in letter form, and was celerbrating,..it was announced that the Washington DC GRand Prix event was cancelled. All my work up in smoke,.,...well not entirely I thought,..and no longer than 3 hours after it was announced, the owner of 110 regional fast food locations in the Tri-state area pulled the plug on my little 15k project, as fast as it had taken him to say the words we all would love to hear,.....it took that long to shut it down. He didnt want to do any other venue, or any other type of racing, nothing. Mind you this was a 46million viewer based televised event, with a 1 hour format. That was taken hard that day, week, month,.........
But you keep trying and never give up, as you never know. My whole point here wasnt to take myself down memory lane, its to let you know, you are not alone my friend, it is the single toughest thing to do. I know people who are established drivers, who find it hard to get sponsors.
So once you start as someone already said, looking at it from the other perspective,as in what can I do for my sponsor, and realize that you may have to pay for things for YEARS before anyone comes though with money. And even then it might just be 10% of what you need.
So here is how I can help, amidst running a business full time, I would love to talk to you, and here what some of your approaches have been, and maybe I can offer some suggestions.
One thing though, you need to ask yourself, " am I in this for the long hall, or is this a temp thing?.....reason is, it makes a difference. You cant give up, as that trait can be detected by people sometimes,..as the people who may want to pay money want to know that you are not a quiter !!
1. I would start by organizing and coming up with a name of your effort.
2. Document and take pictures of what everyone who is sponsored does at events to give bang for the buck.
3. maybe even start a small LLC. under your racing effort as some people , companies would rather know that there is some accountibility with the organization or group that they give money to.
4. keep racing and find other people to help with your project who have the same "drive" and ambition as you.
5. Dont give up.
6. find someone like a grant writer who will help you through the proposal process. When I started a grant writer helped me alot.
7. talk to people who have alot of backing now, ask them how they started out.
8. be humble about how long this may take, and realize that it could be YEARS....
9. 10 people with 500.00 is better than one person with 5k.
10. anything is considered "sponsorship" from the Gatoraide you drink at an event to the tire pressure gauge, you have to start somewhere.
11. maybe have some potential sponsors just come see you drive, dont talk about money, or support. Kindsa like the "nice guy" who gets the babe by being freinds first.
12. just realize you wil soend your own money for a while, before other people start giving it up, because they are just "giving it up"
I hope this helps you,..I know it's hard, as I am still close to finding something for the Panoz Pro series by years end. I knew I wanted to race cars since I was 4 years old, so for me, I'll never give up. My son is four and starting in go-karts, so he already has a understanding that there are people who assist with money to help the sport of racing. So he has his god father paying for half his Comer 30cc kart. If lucky, when he is older, if he chooses that route, he'll know how to do it, and who to call.
944 turbo guy
Myles Williams
Racecomp Engineering LLC
[url]www.racecompengineering.com[/url]
2720 Sisson st .
Baltimore, Md 21211
410-366-RACE (7223)
410-707-0108 cell
PS--- As I layed down to go to sleep, I thought,...50% of it is luck,..being in the right place at the right time. It might not hurt if people knew you were open to the idea. I ran a couple of races with a large local companies name on my hood for free, the thinking was, other potential business owners may want their name on my hood, it worked and the next guy actually contributed $ 1000.00 for the season, and he was a local guy. He owned a couple of Party City stores. Truth be told, he was very kool, wrote me a check, and never came to the track again !! I sent him pictures, which he liked. So you never know who will be , or could be. But its like my dad ( who could care less about racing ) used to tell me,..if someone sees you trying, someone will offer to help. There is a guy who has been talking about coming to the track and cant afford it on my local board, so to make it easy for him to at least come to the track, and start learning,..I told him I would pay, and show up and instruct, all he has to do is show up. So he finally signed up. Is that sponsorship,..actualy yes,..because thats $ 200.00 he doesnt have to pay. It kinda like finding that special person, most of the time, what you're looking for is right under your nose.
Good night and goodluck !! [/B][/QUOTE]
wow myles im touched sir! holy ish! you make me want to start getting my college butt in gear :D in all reality, these words are very strong and wow, im still amazed even as i type this msg, good luck with your endeavours, you do have 1 fan under your belt, as soon as i can finish school i hope i can go out and either watch a race and be a sponsor, afteralli donate money towards your fund by supporting RCE ;) or be the one competing against you :p
i wholeheardly agree with myles words, gary, glenn, and the rest of the guys who responded on this thread, man your very lucky, i dont think i could have gotten a thread up with all these great big shots ;) responding...
in all reality dont give up if your serious about this, as it has already been said this thread is a mine full of great fruits! now its your (our = to all) to pick it off....
[B] Boosted Boxer, every part of what the guys above have already said is TRUE, so the reality starts now, this almost has to be reset button time with your understanding of how this whole thing works.
What I'll do is try to help you in some simple ways, as I am kinda like the kid in 7th grade who got past 3rd base, and was coming to home plate and slid into home plate, but was called "out". As in got laid but blacked out, so there is no memory. I tell you this so you understand, and you can tell me if you want my help.
I started autocrossing in 85,won some regionals, started driving track events like in 93, started instructing in 98 and racing in99. After some minor regional success, I watched a good friend of mine( semi wealthy as in could afford a 100k a year campaign on his own) do some Speedvision races and finsih midpack out of 45 cars, with some big dogs, which we all could call that respectful, considering the pace and close pack they run. well, on anygiven day we were equals in karts, autocrossing, Panoz cars, and Porsche club racing, as our cars were set up the same. So I figured, ***, why not go for the next level. Only difference being his racing budget was my yearly gross income, WITH,..a kid, house in a top suburban area ( Washington DC) and regular local racing to support,..point being,..not alot of money left over. So while working for a large Mercedes Benz dealer I ran accross a customer who saw a picture of me racing a Panoz car, and HE took some interest in .....listen to the wording here,....................
"getting involved in racing" on some level. So I did what you're suppose to do,...casually invite him to the track, and see if HE follows up with you,..well he did !! WOW,.I thought,.I'm on my way, even if for a couple of grand for regional racing. So he could nt make it to the race, but he did just show up at a local drivers ed, and tracked me down, and asked me straight up,.." you still need a sponsor for that DC Grand Prix?....which had just been announced July 17, 2001. And for me , thats closer than my what I called my hometown track !! So we worked on a deal for a "one off" event and he would pay for my one off with a team I had worked with before and knew personally.
So here I was finally sponsored, oh I left out the part where for 18 months after that day, I had to write detailed proposal after proposal, explaining where every single dollar goes, and in this case to drive a competive BMW in Speed World Challenge was about $ 15k plus insurance, so in the grand sceme of things, not a lot of money you say,.......well it is,....but well talk about that later. ( first imagine yourself "giving away" what ever amount of money you ask for , because thats what it really is as it doesnt really generate dollars for most sponsors, not til you get way up the ladder in events that are televised. In my case I was lucky as SCCA already had a great demographics package, BUT, not for the DC race, as it was its first year. The closest market was ATLANTA, buts thats a permanent course.
So after 18 months, and sitting out 2002, just as I secured the money in letter form, and was celerbrating,..it was announced that the Washington DC GRand Prix event was cancelled. All my work up in smoke,.,...well not entirely I thought,..and no longer than 3 hours after it was announced, the owner of 110 regional fast food locations in the Tri-state area pulled the plug on my little 15k project, as fast as it had taken him to say the words we all would love to hear,.....it took that long to shut it down. He didnt want to do any other venue, or any other type of racing, nothing. Mind you this was a 46million viewer based televised event, with a 1 hour format. That was taken hard that day, week, month,.........
But you keep trying and never give up, as you never know. My whole point here wasnt to take myself down memory lane, its to let you know, you are not alone my friend, it is the single toughest thing to do. I know people who are established drivers, who find it hard to get sponsors.
So once you start as someone already said, looking at it from the other perspective,as in what can I do for my sponsor, and realize that you may have to pay for things for YEARS before anyone comes though with money. And even then it might just be 10% of what you need.
So here is how I can help, amidst running a business full time, I would love to talk to you, and here what some of your approaches have been, and maybe I can offer some suggestions.
One thing though, you need to ask yourself, " am I in this for the long hall, or is this a temp thing?.....reason is, it makes a difference. You cant give up, as that trait can be detected by people sometimes,..as the people who may want to pay money want to know that you are not a quiter !!
1. I would start by organizing and coming up with a name of your effort.
2. Document and take pictures of what everyone who is sponsored does at events to give bang for the buck.
3. maybe even start a small LLC. under your racing effort as some people , companies would rather know that there is some accountibility with the organization or group that they give money to.
4. keep racing and find other people to help with your project who have the same "drive" and ambition as you.
5. Dont give up.
6. find someone like a grant writer who will help you through the proposal process. When I started a grant writer helped me alot.
7. talk to people who have alot of backing now, ask them how they started out.
8. be humble about how long this may take, and realize that it could be YEARS....
9. 10 people with 500.00 is better than one person with 5k.
10. anything is considered "sponsorship" from the Gatoraide you drink at an event to the tire pressure gauge, you have to start somewhere.
11. maybe have some potential sponsors just come see you drive, dont talk about money, or support. Kindsa like the "nice guy" who gets the babe by being freinds first.
12. just realize you wil soend your own money for a while, before other people start giving it up, because they are just "giving it up"
I hope this helps you,..I know it's hard, as I am still close to finding something for the Panoz Pro series by years end. I knew I wanted to race cars since I was 4 years old, so for me, I'll never give up. My son is four and starting in go-karts, so he already has a understanding that there are people who assist with money to help the sport of racing. So he has his god father paying for half his Comer 30cc kart. If lucky, when he is older, if he chooses that route, he'll know how to do it, and who to call.
944 turbo guy
Myles Williams
Racecomp Engineering LLC
[url]www.racecompengineering.com[/url]
2720 Sisson st .
Baltimore, Md 21211
410-366-RACE (7223)
410-707-0108 cell
PS--- As I layed down to go to sleep, I thought,...50% of it is luck,..being in the right place at the right time. It might not hurt if people knew you were open to the idea. I ran a couple of races with a large local companies name on my hood for free, the thinking was, other potential business owners may want their name on my hood, it worked and the next guy actually contributed $ 1000.00 for the season, and he was a local guy. He owned a couple of Party City stores. Truth be told, he was very kool, wrote me a check, and never came to the track again !! I sent him pictures, which he liked. So you never know who will be , or could be. But its like my dad ( who could care less about racing ) used to tell me,..if someone sees you trying, someone will offer to help. There is a guy who has been talking about coming to the track and cant afford it on my local board, so to make it easy for him to at least come to the track, and start learning,..I told him I would pay, and show up and instruct, all he has to do is show up. So he finally signed up. Is that sponsorship,..actualy yes,..because thats $ 200.00 he doesnt have to pay. It kinda like finding that special person, most of the time, what you're looking for is right under your nose.
Good night and goodluck !! [/B][/QUOTE]
wow myles im touched sir! holy ish! you make me want to start getting my college butt in gear :D in all reality, these words are very strong and wow, im still amazed even as i type this msg, good luck with your endeavours, you do have 1 fan under your belt, as soon as i can finish school i hope i can go out and either watch a race and be a sponsor, afteralli donate money towards your fund by supporting RCE ;) or be the one competing against you :p
i wholeheardly agree with myles words, gary, glenn, and the rest of the guys who responded on this thread, man your very lucky, i dont think i could have gotten a thread up with all these great big shots ;) responding...
in all reality dont give up if your serious about this, as it has already been said this thread is a mine full of great fruits! now its your (our = to all) to pick it off....
| anders8 | 05-03-2004 09:21 AM |
[QUOTE][i]Originally posted by BoostdBoxer [/i][B] when it boils down to it I want stuff for me and my ride and free is always better[/B][/QUOTE]
Sponsorship has never been "free" money. It's always you do work, and you get "paid". Of course, you might enjoy the work of motorsports sponsorship chasing more than your day job, so it's alright.
Sponsorship has never been "free" money. It's always you do work, and you get "paid". Of course, you might enjoy the work of motorsports sponsorship chasing more than your day job, so it's alright.
| Leonardo | 05-03-2004 09:41 AM |
Nice work there Myles!
I myself am about to become a PCA instructor this year. Right now I get offered to teach in some of the driving schools we as a local Subaru club are doing now.
Bare in mind that I do auto-x in a track day configuration.
I myself have talked to Rota and after showing them my track results and setup of car, and told them what it means in sales to them, they are sponsoring me.
CC-B is going to sponsor me in the bling side so I can look good in the track.
Might have onboard the local Oakley distributor for their racing shoes.
Some vendors like Nino's and others here are on-board.
Without mentioning a local speedshop and Myles if he sponsors me with some info ;)
Anyway, good luck with your quest.
I myself am about to become a PCA instructor this year. Right now I get offered to teach in some of the driving schools we as a local Subaru club are doing now.
Bare in mind that I do auto-x in a track day configuration.
I myself have talked to Rota and after showing them my track results and setup of car, and told them what it means in sales to them, they are sponsoring me.
CC-B is going to sponsor me in the bling side so I can look good in the track.
Might have onboard the local Oakley distributor for their racing shoes.
Some vendors like Nino's and others here are on-board.
Without mentioning a local speedshop and Myles if he sponsors me with some info ;)
Anyway, good luck with your quest.
| Chaste Automotive | 05-03-2004 11:47 AM |
Boostdbxer
I am not trying to flame you in anyway shape or form but one of the things I noticed was that you said that you wrote letters requesting sponsorship. JUst a thought but i Have found that doing business in person was a lot more effective. Perhaps you would get a better response if you contacted the company, asked which person was charge of sponsorship and spoke to them. YOu might ask them "whom should I send this to?" or perhaps "what information are you looking for?" in a proposal. I think you may find that your results would be a bit better. At least now when your proposal does hit this persons desk they have an idea who you are and what you are about. I have received several just cold sponsorship emails which to fbe frank I was a little bit offended with. IF the person had taken the time to call me I may have said yes, the other thing that bothered me was that the people that sent me the proposals were asking for itmes that I had just listed for sale so to me the proposal was less about promoting my company and more about them getting something for free. THere is so much competition for sponsor dollars right now companies have to choose the best vehicle for them and that may be NASCAR and not you. Good luck maybe you should send your proposal to a few companies after you have talked to a person in marketing and ask them for feedback, it may help you a lot and they may like your proposal.
I am not trying to flame you in anyway shape or form but one of the things I noticed was that you said that you wrote letters requesting sponsorship. JUst a thought but i Have found that doing business in person was a lot more effective. Perhaps you would get a better response if you contacted the company, asked which person was charge of sponsorship and spoke to them. YOu might ask them "whom should I send this to?" or perhaps "what information are you looking for?" in a proposal. I think you may find that your results would be a bit better. At least now when your proposal does hit this persons desk they have an idea who you are and what you are about. I have received several just cold sponsorship emails which to fbe frank I was a little bit offended with. IF the person had taken the time to call me I may have said yes, the other thing that bothered me was that the people that sent me the proposals were asking for itmes that I had just listed for sale so to me the proposal was less about promoting my company and more about them getting something for free. THere is so much competition for sponsor dollars right now companies have to choose the best vehicle for them and that may be NASCAR and not you. Good luck maybe you should send your proposal to a few companies after you have talked to a person in marketing and ask them for feedback, it may help you a lot and they may like your proposal.
| akuhner | 05-03-2004 01:38 PM |
Has this guy even said what he competes in yet?
| anders8 | 05-03-2004 01:51 PM |
Nope. Hard to advise. Dunno if it's autocross, road racing, bling bling, time trials, drag, or what.
Anders
Anders
| RaceComp Engineering | 05-03-2004 02:07 PM |
Another thing that is good sometimes, is to remove yourself from the process, and find someone who is good with getting through to people. I have found that women have a very good way on the phone with wiggling their way through to a particular person and then getting an appointment, as in the people who have 2-3 layers on personel between the outside world and you the money hungry racer. They show up on your behalf and do a mini proposal, with tons of knowledge and pictures of your efforts, etc. Versus a racer who feels very "connected" to the yes or no he or she gets when trying to do it all.
Suby Gal may have some comments on this aspect to my theory as she I'm sure she has had to pitch the deal, and then turn around and tell a group of potential male investors or sponsors, that SHE is the driver.
Minorities and women despite what alot of people may think, have it the hardest,..PERIOD. So again, removing yourself in many ways from the process sometimes can be good also. I worked with a young lady a couple of years ago, who was a grant writer and editor. She would do all of my proposals and I would give her cost at the dealership when her car came in,sometimes not charging her at all. This process where someone else is working on something for you keeps you positive and focused on your driving. Its hard to do both. As a friend of mine who currently runs in both Speed and Grand-Am says.....everyone everywhere is a potential sponsor.
just more of my .02 cents worth.
944 turbo guy
Suby Gal may have some comments on this aspect to my theory as she I'm sure she has had to pitch the deal, and then turn around and tell a group of potential male investors or sponsors, that SHE is the driver.
Minorities and women despite what alot of people may think, have it the hardest,..PERIOD. So again, removing yourself in many ways from the process sometimes can be good also. I worked with a young lady a couple of years ago, who was a grant writer and editor. She would do all of my proposals and I would give her cost at the dealership when her car came in,sometimes not charging her at all. This process where someone else is working on something for you keeps you positive and focused on your driving. Its hard to do both. As a friend of mine who currently runs in both Speed and Grand-Am says.....everyone everywhere is a potential sponsor.
just more of my .02 cents worth.
944 turbo guy
| jmott | 05-03-2004 02:12 PM |
Re: Sponsorships !@! I am so stuck without ,,, some answers
�
�
[QUOTE][i]Originally posted by BoostdBoxer [/i]
[B]This is one of the lamest post I have made but flame me as you may,.
I am sick of getting turned down for sponsorships, I have personally invested 13 thou on my STI in 6 months and still have gotten no where with sponsorships no matter how many letters I write and no matter how many events I go to, I am sick of this, is there something more that I need to do or something I need to write that will make people hear my needs as well as what I can provide them for thier needs as a business...
please someone argggggggggg [/B][/QUOTE]
win some races or shows?
[B]This is one of the lamest post I have made but flame me as you may,.
I am sick of getting turned down for sponsorships, I have personally invested 13 thou on my STI in 6 months and still have gotten no where with sponsorships no matter how many letters I write and no matter how many events I go to, I am sick of this, is there something more that I need to do or something I need to write that will make people hear my needs as well as what I can provide them for thier needs as a business...
please someone argggggggggg [/B][/QUOTE]
win some races or shows?
| BoostdBoxer | 05-03-2004 04:12 PM |
wowsers, sorry for the run-on sentence guys ( but this isnt quite the college online grammar course here). At any rate that was some most awsome feedback and wowsers I didnt know that there was so much to it.
| johnfelstead | 05-03-2004 08:12 PM |
[QUOTE][i]Originally posted by RaceComp Engineering [/i]
[B]Suby Gal may have some comments on this aspect to my theory as she I'm sure she has had to pitch the deal, and then turn around and tell a group of potential male investors or sponsors, that SHE is the driver. [/B][/QUOTE]
Not that i am speaking for Jamie, but i know all her work on sponsorship is done in a way that potential sponsors know Jamie is the driver of the car at the first point of contact.
[B]Suby Gal may have some comments on this aspect to my theory as she I'm sure she has had to pitch the deal, and then turn around and tell a group of potential male investors or sponsors, that SHE is the driver. [/B][/QUOTE]
Not that i am speaking for Jamie, but i know all her work on sponsorship is done in a way that potential sponsors know Jamie is the driver of the car at the first point of contact.
| afpdl | 05-03-2004 08:25 PM |
So what is it that you compete in?
| Rovah | 05-03-2004 09:33 PM |
I've got a few potentially unrelated comments.
People sponsor people, businesses don't. As John and others have mentioned, you need to make personal contact and a quality impression.
You need to network.
Your first question to a potential partner should be, "What can my team do for you and your business?"
You need to be realistic about what you have to offer. Promote yourself. Press releases, videos, photos, press, etc.
Be consistent and get results. Invest in your driving and improve.
Work your ass off and talk to everyone you can who is interested in your effort.
Have fun and don't get discouraged. Don't expect to get paid to race. If you're extremely lucky and skilled, you might race for nothing! :-)
Regards, John
People sponsor people, businesses don't. As John and others have mentioned, you need to make personal contact and a quality impression.
You need to network.
Your first question to a potential partner should be, "What can my team do for you and your business?"
You need to be realistic about what you have to offer. Promote yourself. Press releases, videos, photos, press, etc.
Be consistent and get results. Invest in your driving and improve.
Work your ass off and talk to everyone you can who is interested in your effort.
Have fun and don't get discouraged. Don't expect to get paid to race. If you're extremely lucky and skilled, you might race for nothing! :-)
Regards, John
| RaceComp Engineering | 05-03-2004 09:34 PM |
[QUOTE][i]Originally posted by johnfelstead [/i]
[B]Not that i am speaking for Jamie, but i know all her work on sponsorship is done in a way that potential sponsors know Jamie is the driver of the car at the first point of contact. [/B][/QUOTE]
Kool, I didnt know, just throwing out ideas, for this guy who started the thread,.as I am just trying to make a point about removing yourself from the process,..to some degree.
944 turbo guy
[B]Not that i am speaking for Jamie, but i know all her work on sponsorship is done in a way that potential sponsors know Jamie is the driver of the car at the first point of contact. [/B][/QUOTE]
Kool, I didnt know, just throwing out ideas, for this guy who started the thread,.as I am just trying to make a point about removing yourself from the process,..to some degree.
944 turbo guy
| DrBiggly | 05-03-2004 11:03 PM |
[QUOTE][i]Originally posted by afpdl[/i]
[B] So what is it that you compete in? [/B][/QUOTE]
What he said.
[B] So what is it that you compete in? [/B][/QUOTE]
What he said.
| sdecker | 05-04-2004 08:13 AM |
I'm betting shows.
| akuhner | 05-04-2004 09:15 AM |
Well, he sure doesn't compete in reading or writing competitions because both seem to be a challenge! :p
Dude, tell us NOW what the heck it is you "compete" in!!! It makes a big enough difference in the advice you'll get that I'm surprised anyone with experience has answered at all. Granted, you did spawn a good thread with a lot of great advice, which is amazing given the tiny amount of info you've shared! :confused:
I'm betting shows too, or drag racing... settle the bets already! ;)
Alex
Dude, tell us NOW what the heck it is you "compete" in!!! It makes a big enough difference in the advice you'll get that I'm surprised anyone with experience has answered at all. Granted, you did spawn a good thread with a lot of great advice, which is amazing given the tiny amount of info you've shared! :confused:
I'm betting shows too, or drag racing... settle the bets already! ;)
Alex
| DrBiggly | 05-05-2004 08:04 PM |
So what's the verdict on this? What does our mystery guy have to say?
| johnfelstead | 05-05-2004 09:29 PM |
yep, i know mr 944 :):cool:
No show so far for the young searcher? i am curious now.
I just looked up your [URL=http://forums.nasioc.com/forums/search.php?s=&action=showresults&searchid=1068545]post history[/URL] for a bit of entertainment anyway. My god what have you guys done to my beautiful language? :lol: :huh: Send in the redcoats. :banana:
No show so far for the young searcher? i am curious now.
I just looked up your [URL=http://forums.nasioc.com/forums/search.php?s=&action=showresults&searchid=1068545]post history[/URL] for a bit of entertainment anyway. My god what have you guys done to my beautiful language? :lol: :huh: Send in the redcoats. :banana:
| RaceComp Engineering | 05-05-2004 10:01 PM |
[QUOTE][i]Originally posted by johnfelstead [/i]
[B]yep, i know mr 944 :):cool:
No show so far for the young searcher? i am curious now.
I just looked up your [URL=http://forums.nasioc.com/forums/search.php?s=&action=showresults&searchid=1068545]post history[/URL] for a bit of entertainment anyway. My god what have you guys done to my beautiful language? :lol: :huh: Send in the redcoats. :banana: [/B][/QUOTE]
Jon, I'm confused,..are you saying you agree with my post,.or ...I'm confused,.help me..
MYles
944 turbo guy
[B]yep, i know mr 944 :):cool:
No show so far for the young searcher? i am curious now.
I just looked up your [URL=http://forums.nasioc.com/forums/search.php?s=&action=showresults&searchid=1068545]post history[/URL] for a bit of entertainment anyway. My god what have you guys done to my beautiful language? :lol: :huh: Send in the redcoats. :banana: [/B][/QUOTE]
Jon, I'm confused,..are you saying you agree with my post,.or ...I'm confused,.help me..
MYles
944 turbo guy
| DrBiggly | 05-05-2004 10:06 PM |
[QUOTE][i]Originally posted by RaceComp Engineering[/i]
[B] Jon, I'm confused,..are you saying you agree with my post,.or ...I'm confused,.help me..
MYles
944 turbo guy [/B][/QUOTE]
:lol: :lol: [QUOTE][i]Originally posted by johnfelstead[/i]
[B] I just looked up your [URL=http://forums.nasioc.com/forums/search.php?s=&action=showresults&searchid=1068545]post history[/URL] for a bit of entertainment anyway. My god what have you guys done to my beautiful language? :lol: :huh: Send in the redcoats. :banana: [/B][/QUOTE]
LMAO :lol: :lol:
[B] Jon, I'm confused,..are you saying you agree with my post,.or ...I'm confused,.help me..
MYles
944 turbo guy [/B][/QUOTE]
:lol: :lol: [QUOTE][i]Originally posted by johnfelstead[/i]
[B] I just looked up your [URL=http://forums.nasioc.com/forums/search.php?s=&action=showresults&searchid=1068545]post history[/URL] for a bit of entertainment anyway. My god what have you guys done to my beautiful language? :lol: :huh: Send in the redcoats. :banana: [/B][/QUOTE]
LMAO :lol: :lol:
| johnfelstead | 05-05-2004 10:13 PM |
[QUOTE][i]Originally posted by RaceComp Engineering [/i]
[B]Jon, I'm confused,..are you saying you agree with my post,.or ...I'm confused,.help me..
MYles
944 turbo guy [/B][/QUOTE]
Sorry Miles, i was refering to "Kool, I didnt know, just throwing out ideas" and saying i know what you meant and its cool. [pulp fiction] so we're :cool: [/pulp fiction] :lol:
and just to clarify, the "your post history" refers to the young money searcher, not the older one. :lol: click on the link and it will make sense.
[B]Jon, I'm confused,..are you saying you agree with my post,.or ...I'm confused,.help me..
MYles
944 turbo guy [/B][/QUOTE]
Sorry Miles, i was refering to "Kool, I didnt know, just throwing out ideas" and saying i know what you meant and its cool. [pulp fiction] so we're :cool: [/pulp fiction] :lol:
and just to clarify, the "your post history" refers to the young money searcher, not the older one. :lol: click on the link and it will make sense.
| sdecker | 05-05-2004 10:21 PM |
Now now, John...play easy, my friend. ;)
We were all young grasshoppers once. At least he has some initiative, which is more than I can say for a lot of the kids I meet. ;)
We were all young grasshoppers once. At least he has some initiative, which is more than I can say for a lot of the kids I meet. ;)
| RaceComp Engineering | 05-05-2004 11:26 PM |
John,..thats kool, thats what I figured anyway.....kool.
Myles
Myles
| Chaste Automotive | 05-05-2004 11:38 PM |
John once again thanks for the directions when I got lost going to Donnington park. I am going back to the UK in July we will have to meet up. The third try is usually the charm. If you are going to Rim then I can see you there I could not get everything finished in time so we will not be running I guess Pikes Peak will have to be our next event.
| johnfelstead | 05-06-2004 03:20 PM |
:cool: :lol:
I wont be at rim this year, but go give Jamie some support for me. :D
Pikes Peak, the one event in US motorsport i really want to have a go at, it's such a similar challenge to driving at the 'ring in terms of concentration and memory. I just need to find a few quid and i'll be there one day. :D Give me a buzz when you are over next.
I wont be at rim this year, but go give Jamie some support for me. :D
Pikes Peak, the one event in US motorsport i really want to have a go at, it's such a similar challenge to driving at the 'ring in terms of concentration and memory. I just need to find a few quid and i'll be there one day. :D Give me a buzz when you are over next.
| Penguinking | 11-08-2004 11:42 PM |
bump
�
�
old thread but lots of good advice. thought i'd stir up some up to date conversation on the topic. i've just started racing a go-kart and i'm just about to start my sponsorship hunt so i'd love to learn more about this process as well. the only thing is its alot harder to find people willing to sponsor a kart versus a race car.
anyone familiar with kart racing and sponsorship in that arena?
anyone familiar with kart racing and sponsorship in that arena?
| afpdl | 11-09-2004 01:31 AM |
Do really well in your local series and the local kart shops will find you. Other then that you just have to convice someone that they will make more money if they give you money.
| mykrrrr | 11-09-2004 05:26 AM |
Old thread...:lol:
I'd say don't even think about sponsors until you're winning everything and can prove you deserve support.
Do it for the fun of it and not the cool guy "I'm sponsored" aspect...you'll be happier. :D
-mykr.
I'd say don't even think about sponsors until you're winning everything and can prove you deserve support.
Do it for the fun of it and not the cool guy "I'm sponsored" aspect...you'll be happier. :D
-mykr.
| gbwrx | 11-10-2004 01:22 AM |
[QUOTE=Kostamojen]I sponsor myself. Try it, it works.[/QUOTE]
I even had a hard time convincing that guy to help me out. :mad:
I even had a hard time convincing that guy to help me out. :mad:
| bezerk | 11-10-2004 03:36 AM |
[QUOTE=Kostamojen]I sponsor myself. Try it, it works.[/QUOTE]
I am so far removed from the mainstream that I am in the same boat....600 miles north of Vancouver and even further from most of you. I work for my wife, my mortgage and my car (not in that order ;) ), but most of you know what I mean!
I am so far removed from the mainstream that I am in the same boat....600 miles north of Vancouver and even further from most of you. I work for my wife, my mortgage and my car (not in that order ;) ), but most of you know what I mean!
| Butt Dyno | 06-10-2007 12:53 AM |
Random bump from the dead. I was looking for this thread for someone in another forum who was asking how to get sponsored :lol:
Anyhoo, good read if you haven't found it yet.
john
Anyhoo, good read if you haven't found it yet.
john
| Impreza01 | 06-10-2007 03:55 AM |
So, uh, what did the guy compete in?
| RaceComp Engineering | 06-10-2007 10:35 PM |
Dont know, but if he read this when I speak of NOT GIVING UP....this is what I mean...............
[url]http://forums.nasioc.com/forums/showthread.php?t=1194314&highlight=panoz[/url]
Myles
[url]http://forums.nasioc.com/forums/showthread.php?t=1194314&highlight=panoz[/url]
Myles
| LOLSTi | 06-10-2007 10:55 PM |
Anyone mention Perry McCarthy yet?
| digitalseance | 06-11-2007 03:59 PM |
repeating 90% of what's already said...
You have to convince them that you're going to either dominate or be competitive and place in the top X places. You have to prove to them you're branding their name by performance. You're a nice guy, but persistent. Explain to them what you need and why and tell them how you will generate either a great time for the company workers (such as the hospitality mentioned above) or in sales dollars.
I needed parts, and still need tires but you can't have everything!
Saying the above, [URL="http://www.turboxs.com"]TurboXS[/URL] and [URL="http://www.napsusa.com"]Nukabe-CUSCO[/URL] are supporting the [URL="http://www.digitalseance.com"]DS Racing #478 ESP[/URL] CenDiv/GASS (Great American Solo Series) effort. So far so good with me taking 1st at the second GASS event here in IL beating out 2 z28 camaros. How does that help the sponsors? Easy, both companies specialize in going fast and I am; so I am extending their brand to not just go fast, but go fast and win. The car gets a lot of attention at the events and a lot of pictures are being taken, so that is getting the word out by "word of mouth" so to speak. I also provide a little R&D for the both of them. For instance, CUSCO didn't know if the heat shield would work with the TurboXS downpipe and TurboXS TMIC. It doesn't, and now both companies are armed with more information that they can provide to their customers! Not to mention I include links to their website at any and every opportunity!
What can/would you do for your potential sponsors BoostdBoxer? That's what they REALLY want to know!
You have to convince them that you're going to either dominate or be competitive and place in the top X places. You have to prove to them you're branding their name by performance. You're a nice guy, but persistent. Explain to them what you need and why and tell them how you will generate either a great time for the company workers (such as the hospitality mentioned above) or in sales dollars.
I needed parts, and still need tires but you can't have everything!
Saying the above, [URL="http://www.turboxs.com"]TurboXS[/URL] and [URL="http://www.napsusa.com"]Nukabe-CUSCO[/URL] are supporting the [URL="http://www.digitalseance.com"]DS Racing #478 ESP[/URL] CenDiv/GASS (Great American Solo Series) effort. So far so good with me taking 1st at the second GASS event here in IL beating out 2 z28 camaros. How does that help the sponsors? Easy, both companies specialize in going fast and I am; so I am extending their brand to not just go fast, but go fast and win. The car gets a lot of attention at the events and a lot of pictures are being taken, so that is getting the word out by "word of mouth" so to speak. I also provide a little R&D for the both of them. For instance, CUSCO didn't know if the heat shield would work with the TurboXS downpipe and TurboXS TMIC. It doesn't, and now both companies are armed with more information that they can provide to their customers! Not to mention I include links to their website at any and every opportunity!
What can/would you do for your potential sponsors BoostdBoxer? That's what they REALLY want to know!
| jamesohoh7 | 06-11-2007 09:50 PM |
Threads from the dead rock!.. especially when nothing good is on t.v..
You know what's telling about this thread is the fact that if this thread were started -today-, the dude would've been roundly flamed, the thread would've been moved to OT, and general chaos would've ensued from there on.
That it went for several 'noob-settings' pages w/little in the way of real 'attacks' is (was) amazing.
But, 2004 was a kinder, gentler nabisco. :alien:
<--- ahh, there's those rose-colored glasses!
You know what's telling about this thread is the fact that if this thread were started -today-, the dude would've been roundly flamed, the thread would've been moved to OT, and general chaos would've ensued from there on.
That it went for several 'noob-settings' pages w/little in the way of real 'attacks' is (was) amazing.
But, 2004 was a kinder, gentler nabisco. :alien:
<--- ahh, there's those rose-colored glasses!
| KNS Brakes | 06-12-2007 02:05 PM |
Quote of the day (for 2004)
GOT LAID BUT BLACKED OUT!
go myles - never read that before
GOT LAID BUT BLACKED OUT!
go myles - never read that before
| OBShahn | 06-13-2007 12:36 AM |
I didn't read more than the first five posts of the thread so there may be some repeat thoughts here.
If you are thinking about your value based on results you have it all wrong. Sponsorship, sizable or not, comes from marketing budgets or reasons. You as a potentially sponsored competitor need to provide value, not necessarily results. If you are working with a new company or with a company with a new line of products you need to show they are durable, well engineered, and a good value. This could mean finishing in the middle of the pack with a very mild car. (With the _____ and _____ from XXXXX I can come here with a very mild street car and have enough performance to be competitive and have the reliability to drive the car every day without worries. That can have more value then blah blah in the blah blah XXX won in the _____ class).
Sponsorhip value, on this scale, is going to come in as much of the form as going to shows and lots of events as it is winning.
If you're looking for race series sponsorship (you shouldn't be looking on NASIOC for one) then you are selling sponsors on XX races and XXX promotional events and if you are a good driver the promise of good press as you will be finishing well. Some of the best funded drivers having fun on other people's money aren't winning all the time. When you understand you have to offer return on investment not just results and what it takes to do that you will begin to get fewer rejection letters and more face to face meetings.
If you are thinking about your value based on results you have it all wrong. Sponsorship, sizable or not, comes from marketing budgets or reasons. You as a potentially sponsored competitor need to provide value, not necessarily results. If you are working with a new company or with a company with a new line of products you need to show they are durable, well engineered, and a good value. This could mean finishing in the middle of the pack with a very mild car. (With the _____ and _____ from XXXXX I can come here with a very mild street car and have enough performance to be competitive and have the reliability to drive the car every day without worries. That can have more value then blah blah in the blah blah XXX won in the _____ class).
Sponsorhip value, on this scale, is going to come in as much of the form as going to shows and lots of events as it is winning.
If you're looking for race series sponsorship (you shouldn't be looking on NASIOC for one) then you are selling sponsors on XX races and XXX promotional events and if you are a good driver the promise of good press as you will be finishing well. Some of the best funded drivers having fun on other people's money aren't winning all the time. When you understand you have to offer return on investment not just results and what it takes to do that you will begin to get fewer rejection letters and more face to face meetings.
| Impreza01 | 06-13-2007 02:39 AM |
Do realize that the original post was done more than 3 years ago. :)
| OBShahn | 06-13-2007 11:49 AM |
[QUOTE=Impreza01;18381780]Do realize that the original post was done more than 3 years ago. :)[/QUOTE]
I hadn't slept more than 3 hours in two days when I read the first post.... So no. :rolleyes:
I hadn't slept more than 3 hours in two days when I read the first post.... So no. :rolleyes:
| SenorFartman | 06-13-2007 09:47 PM |
For the record, and I realize this is old but it still pertains, if you are entering car shows to win money, you could start your own business and write off these expenses on your car.
For example, I own XXX racing with the intent to turn a profit via car shows. I have a profit motive and therefore can write off everything I purchase (including the car payments) from my taxes.
I actually own a lacrosse company that just started as a side venture stringing sticks. Now everything I do lacrosse related falls under my business. For instance, dues for my club team were $500. However since I had my company pay the dues because I was receiving advertising space in return, it all works out.
For example, I own XXX racing with the intent to turn a profit via car shows. I have a profit motive and therefore can write off everything I purchase (including the car payments) from my taxes.
I actually own a lacrosse company that just started as a side venture stringing sticks. Now everything I do lacrosse related falls under my business. For instance, dues for my club team were $500. However since I had my company pay the dues because I was receiving advertising space in return, it all works out.
| Butt Dyno | 06-13-2007 09:58 PM |
[QUOTE=SenorFartman;18392459]For the record, and I realize this is old but it still pertains, if you are entering car shows to win money, you could start your own business and write off these expenses on your car.
For example, I own XXX racing with the intent to turn a profit via car shows. I have a profit motive and therefore can write off everything I purchase (including the car payments) from my taxes. [/QUOTE]
I don't think it is quite that simple.
From another forum:
[quote]
A legit "business" that is providing a service to racers in labor and/or parts and looses money is ok. However, its only ok for 3 years before the gov't will come and audit you and make you prove you are really attempting to start a business and that you are not just pushing costs through the business to allow you to race.
If you have a legit business, like Conover, RallyDecals, etc you can sponsor cars and that may be yourself. BUT you can only spend an equilivant amount of money you can potentially see returned in potential profit.
For example: [color=red]You can not run 10k of sponsorship money to yourself given you only make 5k in Revenue in your business.[/color] Think about this logically. You advertise to get more clients and hopefully make money. You wouldn't advertise if you thought you would never recoup your advertising dollars.
Bottom Line: You MUST be logical with your sponsorship spending on yourself and be prepared to get audited as the Gov't immediately sees all of these arrangements as red flags. GIANT red flags!
It is also good practice to have a contract with the company and the person recieving the sponsorship that lays out what the company expect for a return in customers. If you can prove customers are coming in as a result of this sponsorship than you are even better off when you get audited. (Notice I didn't say if)
I hope this helps!
I am not a tax guy, but I am a finance and accounting guy that has researched this code extensively. [/quote]
I am not a lawyer, or even particularly smart, but I've heard this from multiple sources. If it's a business, a profit motive isn't good enough, you have to actually profit after some period of time. And you can only write off up to the income you made. If you spent $6K in car payments in 2007 and win $1000 in car shows I don't think you get to write off the whole $6000. But someone who knows the situation better can probably explain better.
Cliff notes: ask a lawyer or an accountant before trying something like this.
john
For example, I own XXX racing with the intent to turn a profit via car shows. I have a profit motive and therefore can write off everything I purchase (including the car payments) from my taxes. [/QUOTE]
I don't think it is quite that simple.
From another forum:
[quote]
A legit "business" that is providing a service to racers in labor and/or parts and looses money is ok. However, its only ok for 3 years before the gov't will come and audit you and make you prove you are really attempting to start a business and that you are not just pushing costs through the business to allow you to race.
If you have a legit business, like Conover, RallyDecals, etc you can sponsor cars and that may be yourself. BUT you can only spend an equilivant amount of money you can potentially see returned in potential profit.
For example: [color=red]You can not run 10k of sponsorship money to yourself given you only make 5k in Revenue in your business.[/color] Think about this logically. You advertise to get more clients and hopefully make money. You wouldn't advertise if you thought you would never recoup your advertising dollars.
Bottom Line: You MUST be logical with your sponsorship spending on yourself and be prepared to get audited as the Gov't immediately sees all of these arrangements as red flags. GIANT red flags!
It is also good practice to have a contract with the company and the person recieving the sponsorship that lays out what the company expect for a return in customers. If you can prove customers are coming in as a result of this sponsorship than you are even better off when you get audited. (Notice I didn't say if)
I hope this helps!
I am not a tax guy, but I am a finance and accounting guy that has researched this code extensively. [/quote]
I am not a lawyer, or even particularly smart, but I've heard this from multiple sources. If it's a business, a profit motive isn't good enough, you have to actually profit after some period of time. And you can only write off up to the income you made. If you spent $6K in car payments in 2007 and win $1000 in car shows I don't think you get to write off the whole $6000. But someone who knows the situation better can probably explain better.
Cliff notes: ask a lawyer or an accountant before trying something like this.
john
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