Introduction

The Connecticut Motorsports Business Association, a trade association that represents motorsports businesses throughout Connecticut, is a non-profit organization. CMBA works with businesses to increase and improve motorsports business in Connecticut.

Organization

CMBA was established in 1974 by the Connecticut Motorcycle Dealers Association. The association was expanded in 1992 to include motorcycle accessory shops. The Connecticut Motorsports Business Association was created in 1995. Its name was changed because of the many motorsports products that our members sell and maintain, including personal watercraft and skimobiles.

The board of directors and officers from CMBA work closely with the executive Director to form our management team. Professional lobbyists are also employed to keep us apprised of legislative activities and assist with achieving our desired outcomes. The work will be split among committees, and the executive director may have to add staff to the Association’s management team.

Services

The CMBA offers a range of services for motorsport businesses, including the coordination and scheduling of a variety activities and events. These include monthly dinner meetings to share information, a spring bike show, the winter conference, seminars, an awards banquet and an annual Connecticut SuperRide.

We offer services that directly assist motorsport businesses. This includes professional lobbyist services, communications in the format of a monthly bulletin and regular monthly meetings, and group benefits such coordinating our members&#8217’s dealings with insurance companies or distributors for rates, discounts, and communication.

Among the services that are planned for the future include a group medical plan for all members, a buying plan, bringing CMBA members onto Internet for consumer sales, inter-member product distribution and permanent rider education, and the development a Connecticut Motorsport Park.

The Market

Research has shown that the motorcycle industry is on the rise for the past seven year. This includes all types motorcycles. Today’s retail revenues are more than three times that of 1983. Powersports research showed that 56% of motorsports customer turn to their local dealer for their routine service work. If they have the right tools, this creates tremendous opportunities for small businesses. The majority of our potential members have very limited resources and are not able to invest in marketing or training. We can help increase their earnings as well as the value of their investments by providing sales and management training along with marketing information and aids.

Connecticut has over 100 businesses involved in motorsports. You can also find potential associates from other states, like manufacturers, distributors or insurance companies, who serve and sell to our members.

Since CMBA’s goal is to bring together all interested parties in the motorsport industry, the company plans to have a broad target market with management focusing on franchised dealers, independent accessory and repair outlets, insurance companies, distributors/manufacturers, and other interested parties.

Considerations for Financial Planning

Our main strategy is the growth of membership. A large member base increases revenue through dues and positions CMBA among the most representative bodies in Connecticut’s motorsports community.

We want to fund growth only through cash flow. We are conscious that this means that growth will be slower than we would like. However, no borrowing or assessment is required.

Our funding for memberships, and other services is expected increase from $195,000 to more $263,000 the second year. The net surplus will increase slowly but surely over the next three-years. Cash flow is expected remain healthy. We plan to apply any surplus to legislative activities, marketing activities, or hold it for contingencies.

1.1 Objectives

1. 50 members in Year 1; 60 members in Year 2.
2. An annual net income of at least $60,000 is necessary to pay full-time staff and other expenses.

1.2 Mission

The Connecticut Motorsports Business Association is a trade association of motorsports businesses in Connecticut and other interested parties. The CMBA is committed to improving the motorsports industry climate in Connecticut. It is a respected and well-respected representative of the motorsports sector.

Success: 1.3 Keys

1. Connecticut’s motorsports trade association is more than 25-years old.
2. One of few state motorsports associations with an executive director/management firm.
3. Connecticut is a small country, making it ideal for member visits and meetings.