Before you approach anybody for money, take the time to produce a first
class presentation that tells the prospective sponsor what his "investment"
in your racing team is going to do for his business. Remember, this isn't
charity. This is advertising for his business.
Show him what your race car will look like with his colors and decals on the
car. If you can't cobble that up on a computer, pay someone to do it for you
in a professional manner.
Give him a cast in stone list of events that you will compete in. Then make
sure you are entered and competing.
Give him results from those events from last year showing the number of cars
participating, subsequent coverage in Sports Car, N.A.P. Grassroots etc.
Commit to doing appearances with your car at his stores so his customers can
see the race car. Don't forget to hand out oodles of flyers of upcoming
events so those customers know where and when you are going to be racing.
Get team shirts made up with your sponsors name on them. Wear them at every
event. Look professional.
After you get all of this infrastructure attended to, then start worrying
about taxable income.
Larry Steckel
>From: Scott Sawyer <reddog_es22@juno.com>
>Reply-To: Scott Sawyer <reddog_es22@juno.com>
>To: wheeltowheel@wheeltowheel.com, autox@autox.team.net
>Subject: Sponsors
>Date: Wed, 29 Dec 1999 00:40:01 -0500
>
>All the talk about sponsors lately has gotten me thinking about the
>upcoming season. I have an idea about who I'm going to approach, but I
>have a few questions I need to answer before I talk to anyone. When a
>sponsor gives you money, is that considered taxable income, or is there a
>way to avoid that? Do you have to incorporate the team so it doesn't
>affect your personal taxes?
>
>The other question involves the administration of the money. Does the
>sponsor just give you x dollars at the start of the year and say have at
>it, do you turn in receipts as you pay for things and get reimbursed, or
>do you go to them every time there is an expense and tell them how much
>you need? Or is the way it is done somewhere in between? Obviously I've
>never done this before, but I want to make a good first impression so
>they think I know what I'm talking about :^) Any other advice or
>suggestions would be greatly appreciated!
>
>Scott Sawyer
>'91 Civic Si ES 22 <---------- HS in Y2K
>Team Underdog Racing, Underdog F&C
>SCCA
>"Who the f**k are these guys?!?!?!"
>
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