More often than not, if you are to have a ‘proper’ car race, you need to get corporate sponsors for it. It is from the corporate sponsors that you are to get the money you need, to run a ‘proper’ car race. A good corporate sponsor can donate the cash that is to be used as prize money. And we all know that a car race where there is a cash prize to be won tends to be end up being very exciting. A good sponsor may even go to the extent of donating money to buy the cars that are to be used for racing purposes, and to the extent of donating money to fuel and maintain the cars. We have even seen some corporate sponsors going to the extent of giving stipends to the drivers who are to take part in the car race. In a nutshell, some corporate sponsors cater for all costs associated with a car race: resulting in a ‘proper’ car race.
For taking the trouble to finance the car races, the corporate sponsors get publicity in exchange. In the absence of a corporate sponsor, the people taking part in the car race are likely to be forced to ‘bootstrap’ – leading to a car race that is less than perfect in many ways. Without a corporate sponsor, you may end up in a situation where, for instance, a car racing enthusiast has to use his or her paycheck to finance a race. That is bound to be tricky, given the meager paychecks posted on HR sites (such as www.greatpeople.me).
The question that arises is as to how people who are organizing car races can go about the task of looking for corporate sponsors. And in my experience, there are two key steps in the process of looking for corporate sponsors to finance car races.
The first step, in the process of looking for corporate sponsors to finance car races, is that of identifying the corporate entities that are likely to be interested in this sort of sponsorship deal. Corporate entities that have a track record of financing car races should be given priority, in this regard.
The second step, in the process of looking for corporate sponsors to finance car races, is that of giving proposals (for sponsorship) to the corporate entities that are identified in the first step. The key to success here is in showing the corporate entities how they stand to benefit from the sponsorship deals.