Coming up with the great idea of developing a big business opportunity and not having the nowhow to make the event profitable and sustainable is starting to become very redundant. People who start a business with weak plans and easy access to start-up capital will eventually fail. Unfortunately, as in the USA recently (home to the more money than brains club) this trend seems to follow the motorsport industry. Now Canada has created it’s own issues some good and some not so good. This week Montreal was awarded the 2010 Forumla 1 race again, Edmonton is having troubles with the Indy Car series. Good solid business plans and marketing plans with the right people is what will create a successful project, not just an angel investor or a business of passion. Edmonton, Alberta, Canada is just this place with the recent news about the Edmonton Indy and the economic downfall on the community. If a Race can bring $80 million to the community and the organizers cannot figure out how to make money… they better start firing and start hiring. Iwould also suggest creating a prober business plan and marketing plan.
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