myKART legal structure

If it was a club, then there would be limitations on how profit making for the club. There shall be a limit on the activities of money making for the club.
As for an Enterprise/SB this could not be, as it will consist of everyone who is a member of My-Kart.
So I think first and foremost, we should see what the objective of the organization shoul dbe.
I could offer some suggestions on what kind of entitiy My-Kart would be as there are alot of things My-Kart can do for the future of the motorsport.

I’m actually in setting up a karting Team. Might Be good to use My-Kart as a stepping stone. I’ve myself a 125cc kart. Since My-kart’s credo is “Popularizing Grassroot Motorsport”, I’ve actually thought of maybe bringing some of our good drivers in taking Race License, or maybe better still developing a Race Development Programme where in turn we’d not only see My-Kart drivers in Karting but also in Junior Formulae or Perhaps F3000. Not thinking formula 1 so far. But first, there must be an entity and also a backbone and brain’s of this entity. Backbone will come in terms of funding. Funding will come in sponsorship (maybe in 3 yrs time) but the brains behind it is more imporatant, such as making sure how things will run, organizing and so forth. Maybe we’d see a My-Kart Racing in the upcoming WRGP in 2010?

First things first then. I suggest My-Kart be a club then.
Next thing is, how do we raise funds.
Then, the managing and activity forsee-ing body.
To make things work, My-Kart must still retain it’s Amateurs League and start planning in scouting potential drivers.
Meanwhile, Sponsorships? How do we approach? without a track record, I don’t think it’d be possible.
And I personally think City-Karting is out of the question too.

Very interesting discussion Fazz. Yusnee and I were talking about this awhile ago and I was telling him about National Autosports (NASA) in the States and how it got started. Their website is located at http://www.nasaproracing.com. Very similar to the road My-kart is taking now. Bunch of friends started out doing parking lot drags and time trials. The founders Jerry Kunzman and Ali Arsham then realised there was a need for controlled track events where people could take their street cars out on the track. To supplement these HPDE events they started a one make racing series with the first generation RX7’s. These cars were available for less than US$1000 and with sponsorships from Toyo tires and smart camber suspensions, you could go racing for less than $1500. The fact that they called the race series NASA Pro Racing and provided cash prizes as well as contigencies from companies and sponsors grew the racing to other series, and eventually to what they are now. In addition they would franchise the idea to different regions around the country at a defered cost (actually free), and would support them with all the regulations, sponsors, name and the Speednews publication. With NASA Central Region, South, North, East, West etc until the sanction grew. NASA is now one the premier racing sanctions in the US with regions as far as Australia.

Basically, Jerry’s idea was always focused towards profit. He did this by creating EVENTS, for both racers and spectators. In addition he looked at providing packages to regions that signed up with sponsors, rules etc. Also they would have conferences for racers to learn about sponsorship and how to provide value to a sponsor.

Income comes from a yearly membership as well as entrance fees to compete at events. In addition through building a network of like minded racers and performance car enthusiast he was able to also sell advertising in the publication. The lectures and conferences are provided free as an introduction but then the extended talk is charged for.

There are a lot of holes to fill in this country when it comes to Motorsports and I think My-Kart has the potential to do it. My company was recently approached by a rally driver for sponsorship. I asked him to forward me a proposal and he sent me a powerpoint presentation that was sorely lacking in what a sponsor would want. He mentions that he was featured in a Star newspaper article but didn’t send me the article. The entire presentation was on the driver and co-driver with their bios. What I needed to know as a sponsor was what value would he provide to me, the number of spectators, media coverage, target audience of the races etc. Eric Yeoh also passed me a sponsorship packet prior to last years MME. Although better than this guys, it was still bad.

So talking about driver development is not just in skills level to get to higher racing series. At the end of the day this is a business and I think a group like My-kart can trully position themselves to be a stepping stone to higher levels by offering not only a means to develop driver skill but also their understanding of the business.

Anyway, this comment has turned into a book. Will talk to you more if interested.

See you at Race 2.

Brian

Fazz,

Was talking to the subsidiary company CEO. We are currently setting up a center in PJ called A+ for automotive enhancement solutions. One of the bungalow houses on Jalan University. This could be a base of operations and a place to meet for My-Kart if you are interested. Will talk to you more about it tomorrow.

Brian

I think My-Kart should just concentrate, that is when My-Kart is what I dream la, and also if my dream is Fazz’s dream also la, in Open Wheel Racing. Production cars isn’t a good idea seriously. Hard to explain by typing, but those who has raced will know. It’s just that it’s a different branch of a tree all together.