Ideally, you will approach prospective sponsors when he is creating his upcoming year’s budget, including marketing expenditures. The timing of this would be approximately three months prior to their fiscal year end. Many businesses utilize a fiscal year beginning July 1st, while others begin their fiscal year January 1st. Although it is much easier to postpone beginning your sponsorship search to fit into this schedule, don’t procrastinate – begin now. While timing certainly is important, many times the decision does not hinge upon the company’s budget, but the general attitude of the business owner and current financial outlook of the company. Since most businesses are not looking to provide cash sponsorship, the budget timing is not as important as it would be otherwise. The worst that happens is that the business owner will ask you to come back in a few months when he starts preparing his annual budget. The great thing is that you have now placed the sponsorship idea in his head.

Sponsorship Proposals

One effective tool you can utilize in the hunt for sponsors is a basic proposal. Keep the proposal relatively short and concise; otherwise, the chance of the prospective sponsor reading it will be very minimal. To keep your costs down, don’t simply go around and haphazardly pass out your proposals. I have even heard of people doing mass mailings to companies with their proposals. This is a waste of time and money. As mentioned above, do some research on the companies you want to target, and visit them in person, if at all possible. Approach the business with something even as simple as….

Hi, my name is _____. Is the owner of the business available? (If not, ask when the best time for you to come back might be.) I wanted to stop by and introduce myself to you. I race a (car type) with (car club) and would be interested in discussing how we might be able to help each other. Could I leave you some information about this opportunity? (Provide the person the sponsorship proposal.) Thank you for your time.

Don’t wait for them to call you. In about four or five days, call the person you provided the proposal to, and ask if it might be possible for you to stop by at some point that is convenient to talk a bit more. Up until this point, your goal is not to sell the person on a sponsorship partnership – just focus on selling a time to talk with him further. Then work on selling him on the sponsorship.

The Useful Items & Features page of this website includes a sample proposal that I created and utilized. Please feel free to use it as a starting template.

What To Do Now That You Have a Sponsor

Which is more intimidating, trying to get the sponsor, or determining what to do now that you actually have one? Try not to feel overwhelmed. It is not expected that you spend a significant amount of money wining and dining your sponsors, although you absolutely must show your appreciation and make an effort to bring the company business. Sure, you will put the company’s name on the car, but there is much more to it than just that.

As a minimum, get some of the company’s business cards to have on hand at all times. Does this mean that you need to spend time walking around handing them out? No, but it certainly looks good that you have them readily available for people to take. In addition to bringing the business cards to the track with you, try to have a few with you at all times. Put a few in your wallet or pocketbook. Keep in mind that the best thing you can do for your sponsor is to attract more business for them.

As discussed throughout this resource, you need to use a little creativity. If the company does not already have a brochure, consider creating a brochure or flyer, and make it available at the track. Send the sponsor a well-written letter, including a schedule and update on your season. Have some basic tee shirts or hats made with your sponsors’ name on it, and give a few to your sponsors. Proudly wear them while at the track.

During the racing season, ask your sponsors to come to the track to watch some of your events. I do realize that it can be scary to have your sponsor come to an event when you are just beginning, but try to just think of them as some friends who are coming to watch you race. While they are at the track, make sure you pay attention to them and introduce them to your crew, other racers, and anyone else you know. Of course, be sure to mention their company name and what their business does. A plastic table, tablecloth, some cheese, cookies, and beer can go a long way. Be aware that most clubs limit the number of people you can add to your crew. Typically a race team’s crew is limited to three or four people total per event. Many times clubs/tracks charge entrance fees to spectators who are not a part of a team’s crew. The reason why I mention this is that you don’t want to start offering tickets to all of their employees for the races. You may want to approach the club you race with to determine if they could provide some additional tickets for your sponsors to use.

The main thing is to show your sponsors that they are important, and that you took the time to put effort into their sponsorship. Whether it is during the racing season or off-season, occasionally visit your sponsor, even if it means stopping by to quickly to say hello. Don’t worry if they don’t spend time talking with you, as they do have a business to run. By making these visits, it will show your sponsors that you are thinking about them, which will help strengthen your relationship.

For a “big” sponsor (and you need to define this one), you may consider allowing them to use your car in a high performance driving event. This does not have to include your paying for the event, but allow them to use your car with some practice tires. Assuming the person drives in a novice group, they will be significantly restricted as to how fast they can go and will only be able to pass on straights. Since you should be the person instructing them (yet again adding to the experience), you control how hard they push the car. Talk about leaving a great impression on the business owner!

At the end of the season, give them a framed picture of your car with a thank-you card. Bring them a nice bottle of wine or some beer. Again, it is not all about how much you spend, but rather you’re showing that you are putting effort into the relationship. Remember to put things in perspective. If things don’t go well with your sponsor, what is the worst that happens? They don’t sponsor you next year. If you truly put effort into showing your appreciation, you have absolutely nothing to be ashamed about.

As I continue to say throughout this resource, have fun with this! If you are doing it properly, you have very little to lose and much to benefit and learn from through the sponsorship process. Good luck!