In your industry, the options for Motorsport finance seem obvious – race cars, transporter vehicles and workshops.
And whilst these may be the things you finance the most, there are other areas of your Motorsport business that brokers like us can help to support.
The high-ticket items like race cars are the ones that often, you simply don’t have the money for. But the day-to-day expenses can also put undue pressure on cash flow as these continue to recur and require payment, whatever state your cash flow is currently in.
There are so many options for finance, you may find your business is opened up to more opportunities and reduced financial pressure with alternative motorsport finance options.
Let’s explore them further.
Alternative Motorsport Finance 1: Driver Salaries
Whether you have the best season of your motorsport career, or you barely make it over the finish line, yoru driver salaries remain a fixed payment that’s due on a monthly basis.
It’s costs like these can add pressure to cash flow and leave you with sleepless nights on the run up to payday.
So avoid the headaches and consider how funding could help wave goodbye to these headaches for good. Finance options are available to fund driver salaries and reduce the strain on working capital.
Alternative Motorsport Finance 2: Operational Costs
What do they say about Motorsport?
Pick a budget you think you can afford, then double it.
It’s certainly not a cheap business to get into and no matter how well you research and plan, unexpected costs can still catch you off-guard.
From entry fees to transport costs, the operational side can almost overnight add pressure to your cash flow. Securing additional funding for those day-to-day expenses can leave your business in a stronger position.
Alternative Motorsport Finance 3: Equity Release
How much cash is tied up in your current fleet?
Known as ‘Capital Release’ this is a simple funding solution that allows you to unlock cash in cars that you already own. By re-financing these, you will receive a cash payment on an agreed sum by the lender.
This cash then goes directly into your business cash flow to spend however you wish, for example on new investments and business expansion.
If you want to discuss your available options, get in touch today. Request a Call Back or call us at your convenience on 01908 92 62 62.