Future plans for RandomRacing Motorsports Park include the construction of clubhouse for members, fitted with lounges, bars, dining rooms, a pool, and a repair/maintenance/installation shop. The shop will also offer service to members and the general public alike for secondary sources of revenue and will also be an authorized performance parts distributor as well. Upon establishment, both the clubhouse and shop will be open year-round.
Keys to Success:
- RandomRacing is the only road course in Maryland.
- Membership fees are lower than that of standard golfing country clubs.
- Membership fees provide constant revenue, regardless of track usage.
Risk Factors and Solutions:
- Limited real estate conforming to noise and environmental standards
- Land is available in Western Howard County. In addition, extra funding will lead to numerous land purchasing opportunities.
- Expensive track construction and maintenance.
- Our consistent revenue sources will lead to high profits, causing RandomRacing to cross into the black in the fourth year.
- Safety issues and injuries may result in financial obligation or worse. -Full time EMS, waivers and legal team.
Member biographies:
Brian Bell, CEO of RandomRacing, is currently majoring in Interdisciplinary Studies with focus in business and film at UMBC. He has been building and racing cars as a hobby for five years, and originally started planning RandomRacing three years ago. In addition to cars and film, Brian is very passionate about music and has played competitive piano for 12 years.
Alex Witkin, CFO, will receive a Bachelor of Arts degree in Japanese American Automotive Studies from UMBC in May 2009. Alex has a vast knowledge of automotive performance products gained through over six years of involvement with the hobby, including independent observations of the operations of other similar facilities and three years running the current online iteration of Brainchild Customs. Their show car, a 2002 Subaru Impreza WRX, has won over 75 awards at the premier national import shows. It has also been featured on FOX news, SPEEDtv, in Import Tuner magazine, and has an upcoming cover feature in Super Street. The vehicle is currently being used as a marketing tool for Brainchild Customs and serves as a rolling showcase of the types of innovative ideas, products, and services that the business provides. The networking and relationships formed through this success with the Subaru will be a source of advantage for RandomRacing.
Patrick Halter, Marketing Director, is a part time UMBC student majoring in interdisciplinary studies with a focus in sports management. Moreover, he is a full time account executive for an industry leading promotional products company outside of Washington, DC. Patrick’s interests include fishing, boating, sports, and traveling. He is also not afraid to mention that he is a life long New Orleans Saints fan.
Shane Yap, Director of Operations, is also student at UMBC. Taking classes such as the American Entrepreneur in the 21st century gives Shane insight on how a new business can rise above and become successful. Also a member of the tennis team, he is able to work well with others and collaborate to get certain goals accomplished. Designing his own business, The Campus Laundry Service, Shane has gained valuable knowledge in producing a service to his customers, making them his number one priority.
Alex Broadwater, Director of Research & Development, is a senior and interdisciplinary studies major at UMBC. He recently concluded his wrestling career at UMBC as a 3X All-American and the school's first National Champion in the sport. Upon graduation, Alex will launch a music arranging and publishing company while coaching wrestling at Catonsville High School, his alma mater.
Financial Projections:
Random Racing presents investors with an enormous potential for future returns. The main reason for the assured financial success of Random Racing lies with the private membership dues, which total $5,100,000 annually. Although the business requires a large amount of start-up capital it is expected that the break-even point will come during year 4. Initial expenses in year 1 will be $18,545,168.22 and include the majority of all start-up and build out costs. By year 2 the business will show a profit of over $4 Million and debts will be paid off by year 4. In the break-even year, the business expects to earn profits of $632,971.74 and the following year over $5 million.
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