You read last time that I was creating a model for income for Obstacle Course Races so that I could determine what are some of the key factors to success in this quickly growing industry. I also said that it would be prettyyyy prettyyyy prettyyyy pretty rough, at least in the beginning. Prepare to be awestruck by this mathematical marvel:
Race Series Annual Income =
(Average price of registration) x
(Number of runners per race) x
(Number of race days)
Let's look at an initial list of shortcomings so I can work on them in the future.
1) It neglects sponsor money and food, retail, spectator ticket, and parking sales.
2) Average Price of Registration excludes:
Date of registration discounts: People registered three months in advance pay $60, "day-of" registerers pay $110
Special group discounts: veterans, students,organized teams, and volunteers benefit from this.
Coupons: You saw it in your Groupon Daily Deals and thought about it. Admit it.
3) Number of Runners: When race results are not posted I have to find the number of heats/day and guess how many runners are in each heat. Even then, heats aren't always full or published. But basically that's...
Number of Daily Runners =
[(Starting hour of last heat) -
(Starting hour of first heat)] x
(Number of heats/hour) x
(Runners/heat)
4) Number of Races Annually:
(Number of locations) x
(Days of racing at each location)
So that's the start. I have at least 257 races to comb through and collect data. I'll write about differentiated and successful races throughout the process.
PS: How great are the faces of the people Larry David said, "pretty good," to? Straight faces hanging on the edge of the laughter cliff by a thread.
Race Series Annual Income =
(Average price of registration) x
(Number of runners per race) x
(Number of race days)
Let's look at an initial list of shortcomings so I can work on them in the future.
1) It neglects sponsor money and food, retail, spectator ticket, and parking sales.
2) Average Price of Registration excludes:
Date of registration discounts: People registered three months in advance pay $60, "day-of" registerers pay $110
Special group discounts: veterans, students,organized teams, and volunteers benefit from this.
Coupons: You saw it in your Groupon Daily Deals and thought about it. Admit it.
3) Number of Runners: When race results are not posted I have to find the number of heats/day and guess how many runners are in each heat. Even then, heats aren't always full or published. But basically that's...
Number of Daily Runners =
[(Starting hour of last heat) -
(Starting hour of first heat)] x
(Number of heats/hour) x
(Runners/heat)
4) Number of Races Annually:
(Number of locations) x
(Days of racing at each location)
So that's the start. I have at least 257 races to comb through and collect data. I'll write about differentiated and successful races throughout the process.
PS: How great are the faces of the people Larry David said, "pretty good," to? Straight faces hanging on the edge of the laughter cliff by a thread.
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