Making a profit in drag racing ????

[Jimi B]

Oh yeah... That is his music in that video as well hahahah.

[Michael Beard]

>> However I would say the best chance to make money in drag racing is running high dollar bracket races.

That's not necessarily the case. In big money bracket racing, the initial entry fee doesn't look as high compared to what the winner's purse is, but you also have 1 and sometimes 2 rounds of buybacks. You're also looking at higher car counts, which combined with the buybacks means that you're going to have to go 9 or even 10 rounds to make the finals. Every additional round cuts your percentage chance of winning dramatically.

Also, big money races are notoriously top-heavy, so everybody wants to split, as far back as 8 cars. I was both the winner *and* the runner-up of the Sunday $10K race when I doubled-entered the World Footbrake Challenge in '08. I was hot-lapping the car like mad, and when they started talking split, I didn't even get involved, and let them sort things out, as I just needed to go down the track again and keep my head in the game. As it turns out, after the split and giving a cut of the winnings to a sponsor who paid for the 2nd entry, I think I ended up with about HALF, and that was for Win *AND* RU! Still a great day's work, don't get me wrong, and the highlight of my career, but the numbers don't end up as good as they look... unless you're John Labbous, Jr. (refer to the K&N Spring Fling 20's...)

Back to rounds... if your round-win percentage is 75%, your chance of winning 1 round is 75%. Winning two consecutive round is .75x.75 = 56%, and so on. Your chance of winning a big money bracket race is 8%, while your chance of winning a 6-round NHRA/IHRA Class race is 18%. You can accidentally win a 4-round race!

I actually made a spreadsheet at one time that factored in entry fees, payouts, fuel costs/travel time, # of races in a weekend, etc., to generate a "factor" of potential return on investment of one race vs another.

Right now, IHRA races offer the best return on investment, in my opinion: More races in less days, and although it's a totally different subject as to why the car counts are lower right now, the fact is that we've seen some 4 and 5-round races, for around $5K. At any bracket race, you'll be lucky to get your entry fee back after 5 rounds. Additionally, most bracket races aren't going to get near the coverage that an IHRA or NHRA event will get -- and that's going to make a lot of difference to sponsors. NHRA events have a higher potential payout, but you're also going to pay more (in advance), you're going to have to be there for 4-5 days (losing some work days), and you're probably going to have to go 7 rounds to win, cutting your chances in half. On the plus side, sponsors like the prestige of NHRA events. So once again, risk vs reward.

>> A profit? You have got to be kidding!

I love ya, Jeff, but you're right.... you're not going to make a profit with a DragPak or Hemi car! You could duplicate my car/truck/trailer for under $40K, and that's something you can pay off... and I have. It took time and help from some very good people to get started, but today, even including maintenance, rebuilds, and updates, every penny of my racing operation is free and clear, paid off. I've spent money on performance for class racing, too. The car is half a second quicker than when I bought it -- technically money that I didn't need to spend, but 1) I wanted to, and 2) it's a strategic advantage.

'Nuff for now...

[X-TECH MAN]

Great post Michael.

[Dwight Southerland]

Great post, Michael.

I raced Stock and SS from 1974-1990 and made money 13 years. 3 years were taken out to build cars. I never got rich, but consistency, watching expenses, building my own stuff, being $$ shrewd and being willing to race where money could be made helped make positive cash flow. It also helped to have a car that could do double duty in a .90 category.

A Pure Stock IHRA car might be a place to look. Low class Stocker could also be made to work. Look at Jody Lang and Tommy Mattingly. The goal would have to be to cover expenses, not to make a living. Nothing wrong with your fun paying for itself.

[cicero819]

Great thread as usual Terry(I hope I can call you by your first name and if not I apologize). To answer your question yes you can and no you cant. Drag racing is for fun and that should always be first, but like a great man once said to me "tell me how much money you have and I'll tell you how fast you'll go"! I know some Racers that have turn a fair profit after many years working their craft, so if you're to include going to school every week-end getting beat up by the local top shoe as your apprenticeship you will better yourself in the long run and be ready to take your place on the podium. I have sometime felt that envy of pro racers making a living from racing but they also have to be at their top shape from reflex, to doing PR for your sponsor when your under the weather but after a while came back to the real world that it's not fun having a bullseye on your back. A friend of mine made close to $8.500. up to now this year racing but ended wounding one of his engines that is worth more than 35k, I guess he would be in the red now if he was running it like bussiness and probably couldn't afford to feed the kids if he needed the money.lol The car I would build would be an 11 second car and run it in the no box such as k/sa Chevelle stationwagon. I know it works I ran against one that broke even most of the time.Jeff Teuton keep racing as long as you can, you're one racer who isn't afraid to back up what you preach. What type of car would you build. CR

[X-TECH MAN]

Originally Posted by cicero819

Great thread as usual Terry(I hope I can call you by your first name and if not I apologize). To answer your question yes you can and no you cant. Drag racing is for fun and that should always be first, but like a great man once said to me "tell me how much money you have and I'll tell you how fast you'll go"! I know some Racers that have turn a fair profit after many years working their craft, so if you're to include going to school every week-end getting beat up by the local top shoe as your apprenticeship you will better yourself in the long run and be ready to take your place on the podium. I have sometime felt that envy of pro racers making a living from racing but they also have to be at their top shape from reflex, to doing PR for your sponsor when your under the weather but after a while came back to the real world that it's not fun having a bullseye on your back. A friend of mine made close to $8.500. up to now this year racing but ended wounding one of his engines that is worth more than 35k, I guess he would be in the red now if he was running it like bussiness and probably couldn't afford to feed the kids if he needed the money.lol The car I would build would be an 11 second car and run it in the no box such as k/sa Chevelle stationwagon. I know it works I ran against one that broke even most of the time.Jeff Teuton keep racing as long as you can, you're one racer who isn't afraid to back up what you preach. What type of car would you build. CR

Ive been called worse.....lol. Call me whatever you feel like. Like I said I wont be "building" anything at this point and age. Plus its less expensive in the long run than building from scratch. I think IF I race again I will buy a running car (probably a Corvette). Most likely a stocker as I have done cylinder heads for over 40 years and several class engines in the past so I could maintain it and try some of my own changes. This thread was to stimulate some thinking on this forum instead of bitching. Lots of good replies and for some I hope....food for thought. I realized a long time ago not many could come out ahead in this game especially since the cost of everything has gone up and the pay outs have come down. Its mainly an ego trip and something to talk about and a chance to be with friends who have the same interests. Im surprised we havent heard from some good racers like Toby, Fletcher, and some others.

[GarysZ24]

Originally Posted by X-TECH MAN

Ive been called worse.....lol. Call me whatever you feel like. Like I said I wont be "building" anything at this point and age. Plus its less expensive in the long run than building from scratch. I think IF I race again I will buy a running car (probably a Corvette). Most likely a stocker as I have done cylinder heads for over 40 years and several class engines in the past so I could maintain it and try some of my own changes. This thread was to stimulate some thinking on this forum instead of bitching. Lots of good replies and for some I hope....food for thought. I realized a long time ago not many could come out ahead in this game especially since the cost of everything has gone up and the pay outs have come down. Its mainly an ego trip and something to talk about and a chance to be with friends who have the same interests. Im surprised we havent heard from some good racers like Toby, Fletcher, and some others.

Terry, a lot of what I've read (the first 4-5ppgs), and here's my .02...first you wouldn't build a car as slow as mine, because it would need to be quick enough to run Pro ET. Secondly I'd try to find a class (most likely a stick class), in Stock that seldom has any entries in it. Finally, I'd look at the contingency list to see how many products could you use that pay class contingency money...you just might be able to claim enough class contingencies to break even with most (if not all) of your expenses (provided you travel like Mike Beard with his truck and Volare does)?

The hardest part of the above will be the Pro ET part, but you've played this game so you know what you need to do. Lane Weber can help me out with this one, but back in the '90's there was a racer at Bandimere Speedway who ran an orange Camaro in Pro ET. He was the Dan Fletcher, Pete Biondo, Scotty/Edmond Richardson of Pro ET at the track, and if you beat him you likely either caught him on an off day, or you were closer to perfect than he was (and he was spot on at most every race he attended)! You do that good with a car that can win class often (and can win some rounds of elims), and you just might be able to make a little bit from our great sport???