Monday, July 8, 2013

Is the Drag Racing Community Ready for an Unconventional Approach to Funding?

http://www.dragracingcrowd.com   
Race teams typically rely on sponsors to provide funding for their operation; however, in this economy, many teams struggle to gain necessary support through official sponsorships.  Some search for the ‘big deal’ to get funded for the entire race season by sending proposals to potential sponsors.  While others create websites for the sole purpose of seeking sponsorship hoping interested businesses will find them.  Unfortunately, those without sponsors have to spend a significant amount of their limited budget on expenses not directly related to their racing operation (i.e. travel).  Race tracks also have difficulty obtaining the necessary funds for upgrades such as equipment, bleachers, etc.  This is primarily due to the lack of businesses paying to advertise at their facility.

   
Crowdfunding is a perfect alternative for the drag racing community to offset expenses.  What is Crowdfunding?  It is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the internet.  Most crowdfunding sites contain hundreds of categories and many times motorsports campaigns are buried and not seen.  There are currently no crowdfunding sites dedicated to motorsports, drag racing in particular.

   
The Drag Racing Crowd hopes to change that by bringing awareness to drag racing through a funding effort that has quickly become a popular means to finance projects.  The Drag Racing Crowd is a collective cooperation of people (fans, racers, and businesses) raising money through a network that supports the drag racing community.  The intent is to help race teams and tracks offset expenses generally provided by sponsors.  The ultimate goal is to utilize successful campaigns to illustrate the power of the “Crowd” to potential sponsors as another means to show businesses the impact racers have on the drag racing community and how their support can translate to sales.

   
The Drag Racing Crowd is out to prove the drag racing community can take an unconventional approach to fund their hobby by incorporating practices currently being used successfully in other business ventures.  It provides a single crowdfunding platform for race teams and tracks to tell their story through words, pictures, and videos.  When they have a need to raise funds, they simply submit a proposal, launch a campaign, receive funds, and distribute rewards.  Rewards?  Crowdfunding projects are successful because they offer incentives for people to contribute.  The type of reward/perk is based on the amount of the contribution.

   
The Drag Racing Crowd also plans to sell apparel, promotional items, and novelties, as well as purchase advertising, to further promote this unique approach to assisting race teams.  Profits will support an aggressive marketing strategy because the more successful this project is, the more money teams and tracks will be able to raise.

   
Please visit www.dragracingcrowd.com for additional information and like their Facebook page. If you have any questions or would like to provide feedback, please email Drag Racing Crowd at info@dragracingcrowd.com.

No comments: