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RACE HQ / Permits & Finances

WELCOME
TO THE
FUTURE OF
RACE DIRECTING.
Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

PERMITS
& FINANCES
The two most important things a Race Director needs to pull off an event is
permission and money. You cannot have an event without both.

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

NO MAGIC BULLET
While the process of permitting & financing events is becoming more
sophisticated, it can often still be learn as you go.

Current methods event managers


use today:
Figure it out as you go
Do what you did last year
Pray that it all works out
All of the above

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

OBJECTIVE
Build long-term financially sustainable events.

Cross these ts and dot these is:


Full compliance with permitting authorities
Proper insurance coverage for your event
Strict financial management disciplines
Tight cash flow management

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

EVENT CONCEPT
Develop a vision for your event to determine what permission you need and
how to finance it.

Determine type of event you are planning


Consider format and distance of event
Establish ideal date for event
Decide on location and venue
Define scale and scope of event

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

PERMISSION
Develop a comprehensive list of possible permitting authorities needed for
your event.

Analyze who or what is being impacted by your event


Determine who has control or jurisdiction
Seek out who to approach for help
Assemble event information packet as selling tool
Approach permitting authorities with respect

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

STARTING LINE
Begin with identifying potential partners that can help you approach permitting
authorities for the types of permits you need.

Potential Partners
Sports Commission, Convention & Visitors Bureau, Mayors Office, City Council, City Special Events
Liaison, Tourism Bureaus, etc.

Permitting Authorities
Police Department, Parks & Recreation, City Traffic Engineer, Fire Marshall, Building Department,
Alcohol Beverage Control, National Parks Service, U.S. Coast Guard (ocean swims), etc.

Types of Permits
Police Permit (Staffing), Facility Use Permits (Parks), Right of Way (Streets), Fire Permits (Tents), Alcohol
Permit, Entertainment License (amplified sound), etc.

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

INSURANCE
Ensure proper coverage for all stakeholders including permitting authorities.

Establish who needs insurance (i.e. business, event, contractors, city, sponsors, etc.)
Determine level and type of insurance needed
Research event insurance carriers and receive quotes
Ensure you are also covered when needed
Review current insurance policies to ensure proper coverage

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

FINANCES
Develop and institutionalize financial disciplines and controls across
organization.

Build your event budget with realistic revenue and expense projections
Determine who has spending authority within the organization and initiate protocols
to control spending (e.g. purchase orders, invoice approvals, etc.)
Plan and facilitate periodic budget meetings to review projected vs actuals
Negotiate terms and conditions with suppliers and vendors

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13

RACE HQ / Permits & Finances

REVENUE
Analyze pricing strategies that drive your marketing campaigns and initiate
sponsorship sales program to contribute to the bottom line.

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13 10

RACE HQ / Permits & Finances

EXPENSES
Ensure proper categorization of expenses and capture the benefit of
negotiating terms with vendors and suppliers.

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13 11

RACE HQ / Permits & Finances

CASH FLOW
Track your progress, so you dont get too far off track and can adjust your
plans accordingly and still hit your target EBITDA.

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13 12

RACE HQ / Permits & Finances

FUTURE OUTLOOK
Permitting and financing events is getting harder to do, but with careful
planning and disciplined best practices you can build the event of your dreams.

Participants are looking for real-life shared experiences in a world of social media
Industry continues to consolidate through acquisition and fall-out of events
Private equity investors continue to invest in our industry
Permitting and financing of events will continue to become more sophisticated.

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13 13

RACE HQ / Permits & Finances

THANK
YOU
Photo: Don Mulligan

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.

10.16.13 14

TACTIC Race Solutions, LLC


1049 Camino Del Mar, Suite 7
Del Mar, CA 92014
1.888.929.RACE
future@RaceHQ.com
RaceHQ.com

Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of the Tactic Race Solutions, LLC except under express written consent.