Motorsports Business Consulting
Through strategic guidance and expertise within the motorsports industry, we help motorsports teams, sponsors, promotors, track owners, drivers and other stakeholders within motorsports achieve their goals and overcome challenges unique to the industry.
Turn Your Passion for Racing into a
Legitimate & Profitable Racing Business
Like many of you, we started out as a struggling grassroots race team - our 9-to-5s competing with our passion for racing and dreaming that one day we could work in motorsports full time. However, through intentionality, strategy, pure determination and a little bit of leveraged luck, we have built our Race Team into an international brand. We have gone from being weekend warriors to a team competing nationally in Crown Jewel events, owning a digital media and apparel brand, promoting a regional dirt track series, and live streaming regional races to an international audience.
We are confident that each one of you can also turn your passion for racing into a legitimate & profitable racing business using business and marketing strategies we have implemented over the years.
Marketing and Business Consulting
Coupling Joshua's 17+ years' experience marketing and promoting within the motorsports industry with Elizabeth's 18+ years' experience owning and managing businesses (not to mention her deep understanding of both general legal principles and the unique dynamics of the motorsports industry), we have built a solid foundation of legal, insurance, financial and tax systems in place for our own motorsports brands.
Everything we do is replicable and can be easily implemented into your own motorsports-related business.
Who Can We Help?
Racers & Car Owners
Whether you're a touring professional or a weekend warrior, treating your motorsports like a legitimate business is a must. If you don't, you are missing out on asset protection and tax strategies reserved only to business owners - potentially losing out on thousands of dollars a season and putting your family and your personal assets at risk. Additionally, from brand development and fan engagement to sponsorship acquisitions, having a solid marketing and sponsorship strategy may mean the difference between begging your friends and family for money to landing your first corporate sponsorship.
Promotors & Track Owners
Fans are consuming motorsports entertainment much differently than they did 20 years ago - or, heck, even 5 years ago. More and more tracks are closing and series are folding every year, but not because there are less fans. Rather, many did not have a solid legal, financial, insurance and tax foundation in place to respond to the changing demands. As our sport continues to grow and adapt, what was previously accepted as 'industry norm' business practices are no longer going to past muster. Setting up these foundations now is crucial to long-term viability and success.
Motorsports Content Creators
When it comes to content creating, we've worked with them all - vloggers, podcaster, videographers, photographers, bloggers, reporters. We have also most likely experienced the same challenges you have faced. Some challenges require more finesse, like negotiating a media rights deal or protecting intellectual property. Other challenges are simply determining which camera or microphone to buy next. Like other businesses, though, it all starts with the same legal, insurance, financial and tax foundation to provide you the peace of mind that your business is working for you and not burdening you.
Merchandise Vendors
Many vendors travel from track to track, crossing state lines, to sell their merchandise without adequately ensuring that they are legally authorized to do so. Selling merchandise brings unique challenges - like obtaining permanent and transient licenses, paying sales tax in multiple states, tracking inventory and setting up your tech stack for online and in-person sales. Without proper legal, insurance, financial and tax systems in place, you are unnecessarily eating into your profit margin.
Motorsports Service Providers
Service providers within the motorsports industry provide a critical role to racers, car owners, promotors and track owners. Despite this, they often fail to establish systems within their business to protect themselves from non-payment and from being over worked. As a service provider, the weather often dictates your day, making a steady stream of revenue challenging. By setting up your legal systems and establishing clear expectations through written agreements, you may find that a rainy day is not too bad.
We Can Help You By . . .
If you are a motorsports business or an aspiring motorsports business, here are some of the ways we can help anyone in the USA.
While Elizabeth can educate you on applicable law and how it applies to the motorsports industry, Elizabeth can only provide legal services to Florida-based individuals and businesses.
Developing a strategy to attract sponsors and partners and advising on how to maintain strong relationships with sponsors and fulfill sponsorship obligations effectively;
Creating a comprehensive marketing plan to increase visibility and fan engagement, including social media strategies and content creation;
Coaching on how to handle media interviews and public relations to build a positive public image;
Providing financial analysis, budgeting, and forecasting services tailored to the financial dynamics of motorsports businesses to help ensure financial stability and profitability;
Providing guidance on contracts, licensing agreements, and intellectual property protections, entity formation and maintenance; and,
Identifying and mitigating risks associated with motorsports operations, including safety protocols, insurance coverage, and crisis management planning.
New Racing Business Cheat Sheet!
A Step-by-Step guide for turning your passion for racing into a LEGITIMATE & PROFITABLE Racing Business will be delivered to your e-mail!
Contact Joiner Law Firm today to schedule a Business Planning Session.