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18 Mar 2010, 18:18 (Ref:2655023) | #1 | |
Rookie
Join Date: Mar 2010
Posts: 1
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Starting a race team – Advice and Budget
We have been running a number of sporting events for several years and wanted to branch out recently into running our own teams.
We are complete novices at motorsport but something I have always had an interest in, so thought I would research it. Looking to take part in the British single seater series but have no idea of the budget needed. Any advice? |
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18 Mar 2010, 18:42 (Ref:2655035) | #2 | |
Veteran
Join Date: May 2004
Posts: 4,230
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If your new to it i would advise dont do it
stick to what you know well known phrase how do you end up with a million quid out of motorsport- start with 6 million! 1 how much money do you have to buy equipement ie truck awnaing 2 race cars what formula what budget for cars3 kit to run that type of car 4 do you hav edrivers with budgets to run 5 do you have mechanics enginner team boss to run it all we have seen teams come and go most usually go bust or closed down as bills not paid mechanics not paid cos drivers have not paid their bill to team sponsorship fell thru at last minute driver crashed toofoten spent budget fixing car trust me better places to invest your money for a return IF you are still keen let me know i will sell you the kit cars to do it! |
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9 May 2010, 20:22 (Ref:2687476) | #3 | ||
Racer
Join Date: Nov 2009
Posts: 202
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As a second to the above if you are not well experianced in motorsport then stay clear. It is too easy to kill somone! But more to the point to make any resonble profit you need to charge moderate budgets. You need to justify the price tag. If you are new, with new cars and people then unfortunately people wont want to pay. But for a run down, here is roughly what you would need to start a single seater team for somthing like Formula Renault BARC, as we did for 2010:
Truck- £60000 Race cars- £50000 Flooring/walling- £10000 Tool boxes- £5000 Tooles- £20000 Air lifts/tanks- £6000 TOTAL: £151,000 for basic kit Running budgets would then be in the regon of 50k with a profit of 10k per car per season ish. Hope it helps! |
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10 May 2010, 16:19 (Ref:2688043) | #4 | ||
Rookie
Join Date: Oct 2009
Posts: 73
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endzone,
I have pm'd you. Let me know if you do not receive anything in the next 48 hrs |
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31 Aug 2010, 16:28 (Ref:2752784) | #5 | |||
Racer
Join Date: Apr 2010
Posts: 200
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Quote:
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31 Aug 2010, 16:37 (Ref:2752790) | #6 | ||
Racer
Join Date: Nov 2009
Posts: 202
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In a word, the driver.
It depends if they choose to insure it or not in real life, but whatever you do its painfull. If you dont insure, the driver foots the whole bill. An average shunt costs about £4k + paint and labour. If you do its about £6k per season and will carry an excess of £2000. This is to cover a valul of only 15k! So you need to do at least £8000 of damage to make it worth claiming, and do it all in one go. Then if you do more than 15k then your not covered anyway! so the covered value is only 13000. So in the long run insurance is rarely worth it, but it does protect you as a team if your contract isnt water tight or you cant be bothered with sueing! |
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29 Sep 2010, 12:23 (Ref:2766584) | #7 | ||
Rookie
Join Date: Sep 2010
Posts: 4
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This is such an open ended question. Without previous experience, its a bad idea. If you have experience in motorsport, and start in a lower formula/class and build up from the grass roots of the sport, then it will be far less than listed above.
Clearly the obvious problem is that at grass roots level, sponsorship and customer drives etc are hard to come by, so it makes it tricky. Maybe gradually developing rather than taking the plunge in one foul swoop may be a better option, quite how you go about doing that is entirely up to you, your financial position, experience, who you know, etc etc. Jonny |
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1 Oct 2010, 09:58 (Ref:2767668) | #8 | |
Racer
Join Date: Jul 2005
Posts: 198
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A1GP
And he was VERY rich. |
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