By Robert G. Hagstrom
A $2 billion undefined, inventory motor vehicle racing is the biggest and fastest-growing spectator game at the present time. Now celebrating its fiftieth anniversary, this once-upon-a-small-time festival all started with moonshine runners and back-street dragsters. How, then, did it explode right into a enterprise phenomenon?Beneath the roar of the V8 engines powering the high-speed vehicles, you could pay attention the mild hum of the finely tuned company that drives the game: the nationwide organization for inventory motor vehicle vehicle Racing (NASCAR). prompt by means of magnificent management, astute advertisement imaginative and prescient, and razor-sharp monetary savvy, this flourishing association single-handedly replaced the face of inventory vehicle racing—and, for this reason, the outlook of the whole activities leisure industry.In this really good exam of the sport-as-business/sport-as-investment phenomenon, Robert Hagstrom combines an investor's prepared perception with a racing fan's unbridled enthusiasm to carry you the whole inside of tale. right here, the bestselling writer of the blockbuster The Warren Buffett approach turns a perceptive eye on a distinct company version, exploring the singular project, guiding rules, and fiscal constitution that, from inventory autos to the inventory industry, have effectively propelled NASCAR.Founded through immense invoice France in 1948, and nonetheless run by means of the France kin, NASCAR this present day opponents the likes of such heavy hitters because the NFL and the NBA. Its meteoric upward thrust to the head has been fueled by means of an uncanny figuring out of consumer-oriented sponsorship, refined advertising and marketing, and nationwide advertising. but, its maximum power, might be, is an unyielding dedication to forging collectively important relationships with enthusiasts, tune vendors, drivers, and different contributors. Hagstrom's interesting research probes all of the crucial parts underpinning NASCAR's great good fortune, from licensing and broadcasting rights to the 2 most vital elements: sponsorship and fans.As the bread and butter of NASCAR, company sponsorship is handled very heavily. Conversely, as a resource of excessive go back on funding, NASCAR is appeared in a lot an identical vein via a bunch of sponsors, together with such Fortune 500 businesses as DuPont, Kellogg's, Pepsi, Coca-Cola, basic automobiles, Ford Motor corporation, and Kodak. The hugely profitable symbiotic partnership among NASCAR and its sponsors is in contrast to the other on this planet of activities, and provides a useful lesson in sponsorship-based marketing.However, if company sponsorship is the spine of NASCAR, the fanatics are its center. not just do they bring about an infectious enthusiasm to grandstands around the state, they're keen and beneficiant clients, purchasing hundreds of thousands of bucks worthy of souvenirs, movies, and garments. what is extra, because the greatest crew of brand-loyal activities lovers, they're probably to buy items from NASCAR sponsors. With quite a bit of its survival reckoning on the fanatics, it truly is no shock that, at NASCAR, retaining them chuffed is a first-rate goal.As NASCAR roars into the subsequent century, it indicates no indicators of slowing down. via capitalizing on new possibilities in expertise and licensing, and striving to construct on "the NASCAR way," it's going to stay the robust fiscal strength it's today.The NASCAR means captures the entire vibrancy, pulse-pounding pleasure, and heart-stopping motion of inventory vehicle racing—as either an attractive recreation and a booming enterprise chance. Taking you onto the music, into the grandstand, and in the back of company doorways, this can be a journey you will not quickly forget.From the bestselling writer of The Warren Buffett approach, a revealing inside of examine the booming business—and funding opportunities—of NASCAR"Hagstrom's insights and observations carry a fresh 'outside' company point of view to our industry." —From the Foreword by way of William C. France, President, NASCAR"From its origins in Daytona within the '50s to modern day dwell community pronounces for thousands of dedicated fanatics, Robert Hagstrom deals an in-depth examine the fastest-growing game within the nation. The NASCAR approach explains how and why dozens of Fortune 500 businesses were lining as much as leap on board." —Michael T. Hargrave Senior Motorsports supervisor, Anheuser-Busch Inc."It is superb to be linked to NASCAR, the France relatives, and for me to receives a commission for what i like — to race! within the NASCAR approach, you spot a prime-time sport." — Dale Earnhardt 7-time NASCAR Winston Cup champion"An actual and interesting viewpoint to the unbridled capitalism that has equipped NASCAR into the #2 activity in the United States after football."—Bill Nielsen Director, merchandising improvement & Licensing, Kellogg united states Inc."Hagstrom is aware how our enterprise works either off and on the music. His belief of our game can have you racing during the pages at the fringe of your seat. The publication is well a winner!" —Dale Jarrett Winston Cup driverROBERT G. HAGSTROM is normal accomplice of concentration Capital Advisory, L.P., a Wayne, Pennsylvania, funding advisory enterprise. he's additionally portfolio supervisor of concentration belief (www.focustrust.com), a no-load fairness mutual fund. Mr. Hagstrom is the writer of the recent York occasions bestseller, The Warren Buffett approach.
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Additional resources for The NASCAR Way : The Business That Drives the Sport
At six foot five and 240 pounds, was an impressive man. His physical stature and his air of quiet confidence were real assets in the early years, for stock car racing was very much like the Old West—wild and cantankerous. To enforce order and promote stability, stock car racing needed a sheriff, and Big Bill was the perfect lawman. , most would say he was tough, autocratic, and not afraid to play hardball. Still, he was able to command respect mostly because of his consistency. The rules and regulations of NASCAR, although vigorously enforced, were applied equally.
Engines approved for racing are standard production-based V8 motors with a minimum 36 T H E N A S C A R WAY displacement of 350 cubic inches and a maximum of 358. The maximum compression limit on any cylinder is 14:1 (compression ratios help determine horsepower). Each engine comes equipped with one four-barrel carburetor. Cars must weigh a minimum of 3,400 pounds including gas, oil, and water. To ensure parity, each car’s weight is adjusted for the weight of its driver. Drivers weighing less than 200 pounds must carry extra weights, in 10-pound increments, up to a maximum of 50 pounds.
Two officials stood at the entrance to pit row, and two more were posted at its exit. There were spotters at each turn, and several officials patrolled the garage area. During the race, over half of NASCAR’s officials are positioned along pit row, where their job is to examine closely the actions of the crews and the safety of the cars. There are rules that dictate how many crew members can come over the pit wall to work on a car, and rules that dictate when a car is safe to be on the track. Any violation of NASCAR’s rules can result in penalties ranging from a fifteen-second delay before returning to the race, to being placed down several laps against the field.