The racetrack business plan isn't as exciting as a lap around the course, but if you can find the right data sets and you're comfortable putting market data and financial estimates together, you should still have a good time. Racetrack plans for existing tracks should talk about the sort of events they have held and any future activities -- sports-related or otherwise -- that might occur there. Anything that brings out paying fans is worth mentioning (swap meets, flea markets, and expos can all bring in money when car racing or horses aren't on the schedule!). Points of note for your plan:
• If you have buildout costs for the track, what are they?
• How many employees will you have on site in Year 1, and at what pay rates?
• How will you market the racetrack?
• Who besides you will be on the management team?
• Do you know how much capital you need to raise, and how you will allocate it?
Successful racetracks exist coast to coast, but the most profitable ones are in highly trafficked areas and host frequent events. Show that your location will allow for steady revenues and demonstrate that your sales can outpace expenses sufficiently to offer the investors a strong ROI. (The model should also include a proposition statement for investing parties and a sensitivity analysis to show the effect of stronger and weaker than expected sales.) MasterPlans has developed a range of sports and racing business plans and can help you with the racetrack plan. Call us today for a free consultation and quote: 877-453-2011.
