Many racers say that they have troubles finding the right fit when it comes to motorsport sponsorship. However, they also have many excuses why they cannot find the sponsor, and contrary to what they believe, it is not that hard to find a great sponsorship in this matter. Usually, racers are simply not prepared properly to look for a sponsorship or they just don’t take it seriously enough.
If you’re wondering how to find the right sponsorship fit in your motorsport career, here is a guide that will be helpful whether you’re a beginner or a pro.
If you’re a driver and you’ve found this article, you’re probably looking for a sponsorship. Whether you’re trying to raise money for your first club race or you’re a well-paid world champion, finding the right sponsor or investor is an important element in the motorsport career. Plus, it is important for every driver to make sure he’s winning in the area of sponsorships. Keep in mind that attracting a sponsor will take more of your time than any other activities, such as fitness or driving. Truth to be said, you should realize that being a sportsman comes with a great commercial value and it means you become a personal brand. Having that commercial options is key to find a way to get in touch with people who can become your sponsors. If you invest your time and energy into creating a brand for yourself, you’ll be able to find the right fit when it comes to motorsport sponsorship.
Having someone paying for your racing is one thing, but keep in mind that it’s mandatory to get serious about it and you must expect some kind of dedication from your sponsor, too. Your goal is to have no free time on your calendar.
It may be surprising, but some racers know very little about their sport. Being a racer is not only about turning good lap times or getting great results in the gym; at this point, you’re only halfway to getting a sponsorship. Next thing is to learn how to generate money for racing.
On the way to finding the right fit, you’ll hear every reason possible for why a particular company can’t pay for your racing. However, you’ll soon realize they’re not just saying no, they’re expecting more value from you. Stop thinking selfishly about putting their stickers or logos on your car, it’s simply not enough.
How to get backing and sponsorship?
Being a professional racer is great, but unfortunately, it costs a lot to participate in a racing event. If you plan on racing regularly at the highest level, you should get a sponsorship. If you’re interested, here are some good points to take into consideration:
1. Learn the process of sponsorship
First of all, you should learn about the subject as much as you can. Do your research, check how other racers are dealing with sponsors and what they’re offering. In order to get a company to pay for your races, you must understand how this process works.
2. Make your offer
Before you start making the first contact with your potential sponsors, make a list of what you are able to offer to them. As mentioned before, stickers, logos on equipment and uniforms, these things are basic, but it is not enough. When a company decides to sponsor races, it demands more than before, so the more things you can offer, the better chances you have of finding the right sponsor.
3. Find your sponsors
Once you have your offer ready, you should decide where to find your racing sponsor. You can look for companies locally, especially if you’re a local racer. Consider approaching companies located near the place you live and you race. However, if you’re thinking about the national carrier, you have many more options, but also a lot more competition from other sportsmen. Before you do your first move, do your research and prepare a great and valuable offer for your potential sponsors, as it will be your biggest advantage.
4. Make phone calls
Okay, so you have a list of companies to approach, a list of everything you can offer, what’s next? You should simply start contacting your potential sponsors. Keep in mind that in this case, it is much better to make a phone call than to write an email. A call is not that easy to ignore. Also, remember that it will take a lot of time to find the right sponsorship fit, but the more people you reach out to, the better. You’ll finally make one phone call that will lead to a sponsorship deal.
5. Sponsorship proposal
Making a phone call is just the first step to getting a sponsorship. You should prepare a good proposal in order to provide it to your potential sponsor. What is a sponsorship proposal? Think of it as a sales brochure for your racing program. First, make a list of all the benefits that becoming your sponsor will bring to a particular company, but don’t forget to include the costs, too. Your proposal shouldn’t be too long, one page is definitely enough. Whatever proposal you have, it should provide the answers to the questions your potential sponsor might have.
6. Get a contract
Once you have a company that decides to sponsor your racing, you must get a legally-binding contract that includes all the terms and conditions of the motorsport sponsorship. This kind of contract is called a sponsorship agreement and it’s best to hire a professional lawyer to help with the process of signing the contract. And this will be one of the best moments in your racing life!
7. Read your contract
Finding the right fit when it comes to sponsorship is amazing, but don’t you ever forget to read through the terms of your agreement before you sign it! It’s best to read it with your lawyer just in case you wanted to renegotiate the terms of the sponsorship. However, don’t be too pushy if you don’t want the company to go to your rival.
As you can see, finding the right fit in motorsport sponsorship is difficult, but not impossible. It takes time and knowledge to get to the point of signing the deal, so contact 0-Sixty Media for assistance.