Do you want to build a race track and want to know the cost breakdown? If YES, here are factors that determine the estimated cost of building a race track. Let’s imagine you overhear group of friends talking about the sweet competition at their private club, the health hazards on the course’s back half, or the $85,000 initiation fee, you won’t need a soothsayer to tell you they are talking about golf.
But your very own track offers many of the same appeals as a traditional country club. In those tracks, you test and exhibit your skills against friends, and then brag about it later. MMC is renowned as one of the first private tracks in the U.S., established in 2008 right at the brink of the recession.
For some time, the model and business plan seemed destined to fail. But today MMC has over 480 members who frequent the 4.1-mile road course, with current initiation fees costing up to $90,000 for unlimited driving days. Starting a business like MMC or building a race track isn’t unlike any other type of industry. Almost every entrepreneur have to go through crucial business phases to ensure their enterprise is running successfully.
Building a race track is not for the fainthearted because it swallows up massive resources. It is always advisable you talk to everyone you can reach who is already in the race track or private club business, and learn what you can from their successes and failures.
Most successful business owners appreciate the chance to share their knowledge with those who won’t have a direct impact on their bottom lines. So, do your research to learn which individuals can provide you with the most insight, and make contact.
You should also consider buying an already existent track. Agreeably, it is the desire of most entrepreneurs to start fresh, to build their own tracks from the base level. However, it is in your best interest to acquire a track that already has proven operations and regular revenue.
Note that buying a successful existing track will allow you get around the trial and error phase. Do not also forgo the option of being part of a franchise. Joining a franchise can help avoid failure.
Estimated Cost of Building a Race Track
The interesting aspect of race tracks is the cost involved in building a standard one. It will cost at least $7 million to build a standard race track in the United States. According to research, it generally costs around $100,000 per mile for two-lane pavement.
But have it in mind that two lanes aren’t nearly wide enough for a racetrack. Therefore, envisage a $200,000 per mile minimum in order to build a racetrack four lanes wide. You would want your drivers to drift sideways without going off the road; you would want a safe track and other amenities that will attract your target market.
It is quite easy to understand how a simple four-mile paved racetrack would exceed $1,000,000 – and that is even before the cost of buying the land and maintaining the pavement. Also remember that pavements have a limited lifecycle and you can’t afford to have potholes on your racetrack due to substandard construction.
According to a specific report, the start up costs of a well-arranged race track in the United States is about $7 million. These expenses break down as follows:
- Cost of land: $1.29 million
- Cost for construction (e.g. Landscaping, gravel runoffs, tire walls, grading, banking curves, adding hills, etc.): $2.4 million
- Cost for mechanical and electrical works (e.g. Full close circuit TV, Crowd protection fence etc.): $523,000
- Cost for site finishing (e.g. stands, external fittings, etc.): $109,000
- Cost of equipment and needed amenities (e.g. office blocks, paddock, parking lots etc.): $1,080,000
- Cost of design and project management (including salaries of project managers): $255,000
- Legal Fees (e.g. Taxes, insurance, permits etc.): $1,128,000
- Project development costs: $215,000
Although it may be tempting to reduce a race track’s start-up expenses by making concessions on construction or technology costs, properly constructing a track and using high-quality technology will without doubt keep ongoing expenses on the hook and affordable. Note that reducing these upfront expenses can lead to prohibitively expensive ongoing costs because the tracks will require more maintenance.
Indeed a single location can have more than one track. Nonetheless, a race track requires a team of employees and subcontractors. People are needed from the outset to welcome drivers, maintain the track and repair any malfunctioning equipment. A track may also want to work with driving schools and tutors to set up its own driving school and offer specialized services.
Frequently Asked Questions
How Do You Make A Race Track?
You make a race track by deliberately constructing one and the minimum acreage required for building a half-mile track is approximately 17.5 acres, compared to 27 acres for a five-eighths-mile track and 55 acres for a mile track.
What Does It Take To Build A Race Track?
According to research, it generally costs around $100,000 per mile for two-lane pavement. But have it in mind that two lanes aren’t nearly wide enough for a racetrack. Therefore, envisage a $200,000 per mile minimum in order to build a racetrack four lanes wide.
How Much Does It Cost To Build A MotoGP Track?
To build a MotoGP track will cost around $270 million and then comes the hosting fee as well as the annual running costs which, at around $18.5 million, are far lower than those for a street race. It means that over a typical ten-year period, building a grand prix circuit and hosting an F1 race costs around $933.1 million.
Can You Make Your Own Race Track?
Yes, you can make your own race track, but please note that it will cost about $100,000 per mile for two-lane pavement, but two lanes are not for the racetrack. It is reasonable to assume a cost of approximately $200,000 to build a four-lane track. Four lanes are critical, so drivers don’t go off track if they drift across lanes.
How Many Acres Does It Take To Build A Race Track?
To build a standard race track, you will need about 500 acres to 1,500 acres.
How Much Does It Cost To Construct A Race Track?
Generally, it will cost at least $7 million to build a standard race track in the United States. According to research, it generally costs around $100,000 per mile for two-lane pavement.
How Is A Race Track Measured?
Race track length is measured 15-feet in from the outside wall. This means that at many tracks the drivers are traveling a shorter distance than advertised (but not by much).
What Are The Main Parameters You Have To Bear In Mind When Designing A Racetrack?
According to experts, in the design phase, a racetrack should never be just a corner, followed by a straight line that leads into another corner. Please note that the track must comprise 2 semicircles, each with a radius of 36.50m, which are joined by two straights, each 84.39m in length. The Track must have 8, 6, or occasionally 4 lanes but the last is not used for international running competitions. All lanes must have a width of 1.22m ± 0.01m.
How Many Miles Is A NASCAR Track?
The road course hosts the NASCAR Cup Series and NASCAR Xfinity Series once per year and is 4.048 miles.
How Much Does It Cost To Build A Racing And Drifting Track?
It typically costs about $100,000 per mile for a two-lane pavement drifting track. It is reasonable to assume a cost of approximately $200,000 to build a four-lane track. Four lanes are critical so drivers don’t go off track if they drift across lanes.
How Much Would It Cost To Have A Race Track Behind A Home?
The amount you should budget to construct a race track behind your home should be calculated based on how long you want the race track to be. It generally costs around $100,000 per mile for two-lane pavement.
Do Race Tracks Make Money?
Race tracks make money when people bet on horses, naturally, and they offer purses to attract trainers and owners to run their horses there since tracks do not own any horses of their own. This fee can range from $50 to $150 per day, depending on the trainer and the amount of the purses at each track.
How Much Does It Cost To Start Dirt Track Racing?
If you decide to start from the ground up, the total cost comes out to $420,000. Now, that might sound a little high when our previous target for a national Dirt Late Model was around $500,000.
What Makes Formula E Racetracks Unique?
One basic concept that makes formula E racetracks unique is that it uses a greater voltage for faster charging and less degradation over the race distance. Alongside the improved longevity, the maximum power output of the car has increased to 250kW – an increase of 50kW that will see the potential top speed of Formula E reach 280 km/h (174 mph).
Can I Race On My Private Property?
As defined by California law, in order to participate in a speed contest, you must operate a motor vehicle (car, truck, pickup, motorcycle, bus, etc.) on a highway (any public road), and do it willfully. As such, street racing on private property would not be considered illegal.
How Much Does It Cost To Use A Race Track?
If you want to make use of a race track, you should expect to pay about $200 for a day of lapping.
How Many Miles Is A NASCAR Track?
Generally, most NASCAR races are 400 to 500 miles long, which can translate into almost 200 laps, depending on the track.
What Celebrity Built A Go Kart Track?
Alan Wilzig decided to build a Formula One racetrack in his backyard. Sitting behind his 150-year-old Dutch Colonial-style home in Taghkanic, the course is the only personal use, a professional-quality private racetrack in the world.
Is Drag Racing Illegal On Private Property?
Drag racing is illegal and trespassing on private property to watch it is also not allowed. According to police, there are four known locations where the underground drag racing group meets. Usually, by the time police arrive those on lookout alert those who are racing and the group disperses.
How Many Football Fields Is An Acre?
1 acre equals 43,560 square feet, so for 10 acres, you will have around 435,600 square feet if you calculate. That will be 7,5 football fields, including the end zones. Since a football field is about 1.32 acres in size, it is an easy math problem.
How Wide Should A Go Kart Track Be?
The average length for a serious racing track for karts is around 1,100 – 1,200 meters, 7 to 9 meters in width.
How Much Does A Go-Kart Track Make A Year?
While a go-karting business can cost a lot to open, its profits can be large. Go-kart businesses can make between $500,000 and $700,000 yearly if they’re smart about attracting and retaining visitors. However, it’s a good idea to join a franchise to increase service reliability.
Are Indoor Go-Kart Tracks Profitable?
Go-kart tracks are normally found within arcade complexes, so consistent memberships, on average, are more profitable than single-use riders. A go-kart track profits from ongoing bulk service packages, as they assure consistent services and a constant stream of revenue.
How Much Does An Electric Go Kart Cost?
The average price for an electric go-kart is about $12,000. While you can get an entry-level electric go-kart with standard specifications starting at about $8,000, more professional electric racing go-karts start from about $12,000. Loaded with customizations and upgrades, the price range can also go well beyond that.
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