Quote:
Originally Posted by Darrel Goheen
I have someone interested in possibly sponsoring my racing. I have no idea what amount is fair. I'd like to hear from those have received sponsorship what kind of deal you do. Thanks.
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Just like everything in business its all negotiable. Don't make the mistake of thinking its not business. There are three different types of sponsors:
#1 Most common, mom or dads checkbook. What they ask for in turn ranges from nothing to something more than nothing. Few think about what the ROI is for the parents. But if they did, they might approach things a bit differently.
#2 Local industry related business, ie speed shop, engine, etc. If they are approaching you, then that is as low hanging fruit as it gets. Figure out what the benefit is to them, if any and you can go from there. You know what your costs will be with entry, breakage, tow costs, etc. Can't put a $ figure on anything till you know what is wanted in return.
#3 National/global brand This isn't feasible or realistic except for the travelling pro's. Whats it cost in $ and life costs to HAVE to travel to compete to say 15 national events, 6 divisions races, X # of opens, its not a exciting proposition when its a contractual obligation and not your choice.
Do your homework on your possible sponsor and their business to make sure its appropriate, and has the financial ability to provide the sponsorship being discussed. Sponsor of course pays for any and all vinyl needed to do up the car, golf cart, dog, whatever. Of course, put it in writing, so both sides know the deal.
My take.
Eric