You all seem to be an intelligent group of business people. Looks like a good place to bounce an idea around I’ve been toying with in my mind for some time.
I’ve come up with an idea that has a lot of logistical challenges but I should give you some background first.
I’m a “jack-of-all trades” employee at a local racetrack/speedway, which races every Friday and Wednesday night. I feel after being a part of the racing industry for a few years there may be an opportunity to put my skills of video editing and video knowledge/talent to some good use for the race teams and fans in the form of a small video production company.
I’ve had numerous requests from drivers, teams and fans to tape the races in the past as souvenirs.
My idea is simply to gain permissions from the track. I would record onto video the events the most cost effective way possible – a manned camera from the roof of the broadcast tower following the action, and a stationary “catch all” camera at the end of one of the straightaways to catch any action (crashes) the main camera misses. The nature of my job occupies me during the actual events with other important business that cannot be left unattended, so a colleague who I have worked with on other projects would staff the camera.
Another company tried this a while ago, but they pulled out after not making enough money. This was almost 7 years ago now though (before the advent of affordable DVD technology for filmmakers), and the technology has improved a lot to make this type of endeavour much cheaper.
A strong market is already in place – 2000 to 3000 fans per Friday night, plus 700 additional crewmembers, drivers etc. Wednesdays has a VERY dedicated fan base of 100 fans (mostly friends and family of the drivers), plus drivers and crews. Not to mention sponsors of cars. I’m looking at producing these DVDs for 10-15$ (cdn) for a night of racing.
If it weren’t for start-up costs I’d already be all over this but they are a serious concern. I currently have no equipment – previous volunteer projects I have completed by pulling in favours from the school I attended, but I would like to get off on my own.
A typical race event is 3 hours long so I’m looking at having to pay my colleague for that amount of time.
I’m also looking at having to purchase two cameras (hopefully trying to find some used ones). I will also be purchasing a new laptop for editing, but I was planning on acquiring that regardless for other uses.
To pay everything off in one season (based on $12 a piece) I would have to sell around 350 disks (not out of the question in my opinion), which brings up another concern.
This is all very rough and preliminary. I’m certainly not going out tomorrow and buying a equipment, I wanted to brainstorm more first. Video is one of my great passions and I love recording events for people to enjoy as souvenirs. It also seems like a good long-term business opportunity. I don’t know that this endeavour would be a great moneymaker, but I am certain I can receive permission from the speedway to do it, as well as have a lot of fun.
My hope is also that by getting the equipment in hand, it would give the ability to work on additional video related projects in the community when racing is in it’s off season.
Any thoughts? Comments? Suggestions? Experiences to share? I’m all ears and looking for ideas. Thanks for reading!
A Speedway / Racetrack Business Idea
) I was thinking perhaps to have an order form with the option to have it mailed OR picked up. Perhaps charge a few extra dollars for mail outs?