Introduction
The Connecticut Motorsports Business Association (CMBA) is a non-profit trade association for motorsports businesses in Connecticut. CMBA works with businesses to increase and improve motorsports business in Connecticut.
Organization
CMBA was established in 1974 by the Connecticut Motorcycle Dealers Association. In 1992 the association expanded to allow motorcycle accessory shops full participation in the Association. The name was changed in 1995 to the Connecticut Motorsports Business Association in recognition of the other motorsports products, such as personal watercraft and ski mobiles, that our members sell and service.
Our management team consists mainly from the officers and board of directors of CMBA, who work closely together with the executive director. A professional lobbyist assists us in achieving desired outcomes and keeps us informed about legislative activity. 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.
In addition we provide direct services to motorsport businesses that include professional lobbyist services to represent our members with government agencies, communications in the form of a monthly newsletter and regular monthly meetings as well as special bulletins, and group benefits such as coordinating our members’ dealings with insurance companies and distributors for rates and discounts.
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 shows that the motorcycle market has seen a seven-year increase. This includes all types of motorcycles. Today’s retail sales make more than 3.5x the amount of money that was produced in 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. Our potential members are small businesses that have limited marketing and training resources. With sales and management training, as well as marketing information or marketing aids, we can help them increase their earnings and maximize the return on their investment.
Connecticut has over 100 businesses involved in motorsports. In addition, there are potential associate members outside the state, such as manufacturers, distributors, insurance companies, and others who service 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.
Financial Considerations
Our main strategy focuses on the growth and expansion of our membership. A large membership base generates revenue through dues, and also positions CMBA to be the true representative for Connecticut’s motorsports industry.
We want to fund growth only through cash flow. We recognize that this means we will have to grow more slowly than we might like but that no assessment of members or borrowing is necessary.
Our funding on membership and other services is expected to increase from more than $195,000 the first year to more than $263,000 the third. In the next three year, our net surplus will rise slowly but steady. Cash flow is expected to remain healthy. We will use any surplus for legislative activities or marketing activities.
1.1 Objectives
- Fivety members for year one and sixty for year two
- To support full-time employees and expenses, the net annual income must exceed $60,000
1.2 Mission
The Connecticut Motorsports Business Association serves as a trade organisation for motorsports business in Connecticut. The CMBA is committed to improving the motorsports industry climate in Connecticut. It is an industry representative and advocate that is well-respected.
1.3 Keys to Success
- Connecticut motorsports industry trade association has been around for over 25 years.
- One of the few state motorsports organisations with a paid executive director/association manager firm.
- Connecticut is a small country, making it ideal for member visits and meetings.
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