I started following several OC races on Twitter to begin my prep for the grand endeavor of defining and examining success within the OC Race industry. I came across mudrunguide.com which keeps a directory of 257 of the world's greatest mud runs and links to their websites. Ah, easy.
Mkay, great start. What do we want to know? We want to know how much income each race makes, (we'll worry about costs later). How do we do that? We follow this awesome model.
Race Annual Income =
Average Price of Registration X
Number of Runners X
Number of Locations
Some of these variables have their own variables. Here are some of the challenges with filling in each blank and examples of how I fill it in for the XTREME XAMPLE MUD RUN which is completely made up.
Average Price of Registration:
The cost of registering for a race generally rises as you near the date of the event. The price increase and date progression are not always proportional so I average the race day registration and early bird registration.
EG: Early bird registration: $65
Race day registration: $100
(100+65) / 2= $82.5 per registration
It's extremely simplified but cut me some slack, I have to do this 257 times.
Number of Runners:
This can easily be found by finding a Race Results board. Unfortunately, I'm only finding those for about 30% of races. This has been a major wrench in the spokes for a lot of races but I'm able to bootstrap my way to a pretty good approximation after a little research on hundreds of pages.
If there are no race results, I've been finding the number of waves/city which can be directly found or deduced by start and end times.
EG: The first wave is at 8:00 AM (8). The race continues until 2:30 PM (14.5) when the final wave is released. Waves start every 15-20 minutes (3-4/hour). Waves are limited to 300 runners.
So 14.5-8=6.5 hours at 3-4 waves/hour. 3.5 X 6.5 = 22.75 waves.
I then look at number of open spots (if shown) in each wave and generalize ~200/wave.
So 22.75 X 200 = 4, 550 runners/city.
Number of Locations:
This is the easiest. You can usually just click on "Events" and count.
EG: Chicago + New England + New Jersey + Pennsylvania = 4. Voila, 4 locations.
I changed it from Number of Race Days because the number of days were rarely consistent in the number of waves. As in, waves on Saturday are not equal to the waves on Sunday. Since I'm counting waves already, I account for it in the Number of Runners.
Summary:
Based on the XTREME XAMPLE MUD RUN which posted the numbers listed above, the XXMR boasts 4,550 runners paying $82.5 each in 4 locations. This brings in about $1.5 million. Nice work guys.
Next time I'll talk about what insights we might be able to gain from this data. I'm also going to challenge myself to qualitatively figure out the quantitative part. Should be fun.
Mkay, great start. What do we want to know? We want to know how much income each race makes, (we'll worry about costs later). How do we do that? We follow this awesome model.
Race Annual Income =
Average Price of Registration X
Number of Runners X
Number of Locations
Some of these variables have their own variables. Here are some of the challenges with filling in each blank and examples of how I fill it in for the XTREME XAMPLE MUD RUN which is completely made up.
Average Price of Registration:
The cost of registering for a race generally rises as you near the date of the event. The price increase and date progression are not always proportional so I average the race day registration and early bird registration.
EG: Early bird registration: $65
Race day registration: $100
(100+65) / 2= $82.5 per registration
It's extremely simplified but cut me some slack, I have to do this 257 times.
 |
| Source, the link actually leads to a pretty cool business idea. |
This can easily be found by finding a Race Results board. Unfortunately, I'm only finding those for about 30% of races. This has been a major wrench in the spokes for a lot of races but I'm able to bootstrap my way to a pretty good approximation after a little research on hundreds of pages.
If there are no race results, I've been finding the number of waves/city which can be directly found or deduced by start and end times.
EG: The first wave is at 8:00 AM (8). The race continues until 2:30 PM (14.5) when the final wave is released. Waves start every 15-20 minutes (3-4/hour). Waves are limited to 300 runners.
So 14.5-8=6.5 hours at 3-4 waves/hour. 3.5 X 6.5 = 22.75 waves.
I then look at number of open spots (if shown) in each wave and generalize ~200/wave.
So 22.75 X 200 = 4, 550 runners/city.
 |
| A single wave from the Dirty Girl, multiply by lots. Source. |
This is the easiest. You can usually just click on "Events" and count.
EG: Chicago + New England + New Jersey + Pennsylvania = 4. Voila, 4 locations.
 |
| The Spartan Race's current global distribution. Making boucoups USD, CAD, and GBP. Source. |
Summary:
Based on the XTREME XAMPLE MUD RUN which posted the numbers listed above, the XXMR boasts 4,550 runners paying $82.5 each in 4 locations. This brings in about $1.5 million. Nice work guys.
Next time I'll talk about what insights we might be able to gain from this data. I'm also going to challenge myself to qualitatively figure out the quantitative part. Should be fun.
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