I think we can all agree that the America’s Pastime is pretty exciting when you get to watch it live! There’s something about that great American race that makes everything else fade away. Even if you’ve never been to a NASCAR event, you know when it’s coming. Every April, we get to witness the greatest racers in the country battling it out on the track. It’s like the Superbowl of NASCAR!
With all the excitement surrounding the sport, it’s no wonder why so many people want to get into the hobby. But, like most sports, there is a lot more than meets the eye when it comes to being a successful NASCAR pool owner. It takes a little knowledge and preparation to get started, but once you do, you’ll be able to enjoy the hobby and make some decent money at the same time. So let’s take a look at how you can create a NASCAR pool and start making money today!
Set A Budget
One of the first things you’ll want to do is set a budget. Like most other professional sports, NASCAR is a expensive hobby and you’ll want to be sure you can handle the costs associated with it. This is especially important if you decide to do this as a full-time venture, as you’ll have to consider how much you’re going to need to charge to be able to pay the bills. It would be best to set a budget and stick to it. Otherwise, you might end up in a bit of a financial mess. Also, make sure you understand all the rules and regulations associated with owning a NASCAR pool. Most jurisdictions have adopted the rules set forth by the Racing Rules and Regulations, but it’s still a good idea to go over them with a lawyer or accountant to make sure you’ve covered every base.
Research The Market
The next thing you’ll want to do is to research the market. This is especially important if you decide to do this as a hobby, as you want to ensure you’re setting yourself up for some monetary success. Most people who get into the sport do it as a way to make some extra cash, but it’s a money pit unless you know how to research the market and be prepared to spend a good chunk of change on advertising. The cost of running ads to get people to your pool can add up quickly and it would be best to avoid this if at all possible.
Buy The Right Equipment
If you’re going to be entering the pooling business, you’ll obviously need to buy some equipment. This is something you need to budget for and it’s also important that you get the right equipment. One of the first things you’ll need to buy is a speedometer, as you’ll be racing against the clock and you don’t want to be comparing your lap times to someone who has a faster machine. It also doesn’t hurt to have a GPS tracker either, so you can keep track of where you are at any given time during the race. These are just some of the essentials and it’s important to research the best prices possible for these items before buying them. You don’t want to be going back later and having to negotiate a lower price because you didn’t know how expensive these items could get. Buying equipment in bulk is generally a great idea and can get you a good deal.
Establish Yourself As A Professional
Even though this is a hobby you’re probably looking at doing on the side, you still want to make sure you’re setting yourself up for future success. One way to do this is to establish yourself as a professional. If you decide to create a brand for yourself, it’s important to choose a name that’s highly recognizable and won’t be owned by anyone else. Most people who get into the sport do it as a way to make some extra cash, but it’s a money pit unless you know how to establish yourself as a professional. Most jurisdictions require you to be licensed in order to establish yourself as a professional, so make sure you do this before you start charging people for pooling services. This way, you’ll be able to establish a reputation as a trustworthy businessperson who is also adhering to the rules and regulations of the sport. Otherwise, it could get complicated if you aren’t officially established as a professional.
So now that you know how to create a NASCAR pool, you’re probably wondering what to do next. The first step is to register your pool with the International Speedway Corporation (ISC). This is the organization that manages all the professional racing in the United States and it requires all owners to register with them in order to do business. After you’ve registered your pool, you’ll need to inform them that you intend on holding pool parties and how many people you intend on inviting. They will then send you a packet containing all the forms you need to begin holding regular pool parties. One of the forms is the Certificate of Incorporation, which you’ll have to complete and then file with your local secretary of state’s office. This certificate details the specifics of your business, including the name you’ve chosen, the purpose of your organization, and the amount of capital you’ve invested in it. Once you’ve filed the paperwork, you’re officially an entrepreneur! Now, you’re ready to reap the financial rewards of your labors and start making money from your newfound hobby. Happy pooling!