Company team building enterprise?

[Adamzs180]

As i now have a small collection of track prepared cars i am toying with the idea of setting up a promotional/team building company where people can enjoy a day out on track either for fun or office glory.
The problem is i haven't got a marketing brain and don't really know how to get this idea put into action or if, in todays economical climate, this would be something businesses would go for as looking at costs it isn't going to be cheap like your average works do is.

[Lukeus101]

Right, You need to start doing some market research. You need to find a Unique selling point to your company that you can offer customers that you will become renowned for, wether it be excellent customer service or something different from rival comapanies. You also need to go to similar companies and look at whats average to charge and decide what your overheads are and profit margins.

Maybe start by drafting up a questionnaire and going to a show and get some results. More research now prevents mistakes in the future

[andy-81]

I thinks this is an awesome idea, my boss and the rest of us go out for the day every couple of months. just for kicks we all buggered off to b/pool pleasure beach today and spent almost 300 quid between us.

the best thing to do is sort out a price foe a repair deposit just incase some one stuffs it into the barrier, once you have that sorted you need to think about wear and tear parts ie tyres,brake pads and discs followed by track price/time. once you have done this add all these costs together not including deposit stick a bit on for your self and have a guide total, eg

tyres £150 (would of thought they could be used more than once)
brakes £200 (including discs)
track price £200 (complete guess)
fuel £100
your fee £150 (for the duration of time your there)

this comes to 800 quid, could be more could be less i dont know but if you had say 10 people turn up its less than 100 per head plus you make some money for your self also if you have this as a registered business you can claim the vat back on all the car parts and fuel thats used. also if you know one end of a spanner from the other you wouldnt have to pay any labour on repairs

As for advertising if it was me i would do a bit of leg work and nip around a few companies ans ask if they have team building days out and if it would be something they would be interested in doing. if you generate enough interest that would give you an idea if it would be worth doing

[Adamzs180]

Good advice guys and thanks. So far i've worked out that if i put 3 cars out on a track it's going to cost me on ave £200 per car plus additional driver costs which can vary so i'm roughly pricing this at £30 per driver. then fuel at £50 per car, wear and tear at £20 per car. Thats £270 per car plus say 10 extra drivers thats another £300 so £570 covers a team of 10 for a full race day. I haven't yet looked at insurance or transport costs. but if i work on averages and guess at around £650 per session with all 3 cars on track for 10 people thats £65 per head and each driver would get at least 3 hours track time in a full day if my maths is right.
Obviously i have to look at this in more detail but even if the price rose by £10-£20 i think this is a fairly affordable fun day out for corporate events and team building.
I'm also hoping that i can offer advertising space on the cars to companys who show an interest in return for discounted track days.

[ZS]

Originally Posted by Adamzs180

I'm also hoping that i can offer advertising space on the cars to companys who show an interest in return for discounted track days.

Does that mean free advertising?

If you get enough interest you might find companies want to pay to advertise, since other businesses will see the advertisements on their team building days...

[andy-81]

instead of offering customers advertising space on your cars, why dont you offer this to the companies that you use for your parts or even see if the insurance companies would give you a discount for advertising them on your cars?

[Adamzs180]

Originally Posted by andy-81

instead of offering customers advertising space on your cars, why dont you offer this to the companies that you use for your parts or even see if the insurance companies would give you a discount for advertising them on your cars?

Now theres a thought.

I'll have to get some e mails sent out and see what feedback i get.

[andy-81]

see i'm not just a pretty face, lol you might even be able to get sponsership if you get busy enough!