The Connecticut Motorsports Business Association (CMBA) is a non-profit trade association for motorsports businesses in Connecticut. The CMBA is a non-profit trade association that promotes motorsports in Connecticut. They also protect motorsports businesses’ rights and assist businesses to increase their sales and profits.
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. In 1995, the name of the association was changed to Connecticut Motorsports Business Association. This is in recognition that members also sell and service other motorsports products such as personal watercrafts and skimobiles.
Our management team consists primarily of the officers and directors of CMBA. They work closely alongside the executive director. To keep us up-to-date on legislative activities, and to assist us in reaching desired outcomes, we also have a professional lobbyist. The work will ultimately be divided among the committees. Additionally, the executive Director may need to hire additional staff for the management team of the Association.
The CMBA offers a variety services to motorsport business owners, including the coordination of a host of events and the scheduling of events. These include monthly dinners for information sharing and a spring motorcycle show.
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 planned for the future are: a group insurance medical plan for all members, a group buying plan, bringing the CMBA members onto the Internet for consumer sales and inter-member product distribution, a permanent rider education facility, and the development of a Connecticut Motorsport Park.
Research has shown that the motorcycle industry is on the rise for the past seven year. 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 also revealed that 56% of motorsports customers go to their local dealer for routine maintenance work. This opens up a huge market for small businesses, if they have the right tools. Most potential members are small businesses with limited marketing and training budgets. We can help them increase their earnings, and increase the value their investments through sales and management coaching as well marketing information and tools.
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.
Our main strategy focuses on the growth and expansion of our membership. A large membership base provides revenue from dues and also positions CMBA as the true representative of the Connecticut motorsports industry.
We want to finance growth solely 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 should increase from over $195,000 the year before to more than $263,000 by the third. The net surplus will increase slowly but surely over the next three-years. Cash flow is expected not to change. Any surplus will be used for marketing and legislative activities. We also plan to keep it in reserve for contingencies.
- 50 members in Year 1; 60 members in Year 2.
- To support full-time employees and expenses, the net annual income must exceed $60,000
The Connecticut Motorsports Business Association (CMBA) is a trade organization of motorsports businesses from Connecticut. The CMBA works in Connecticut to improve and enhance the motorsports market. It is an industry representative and advocate that is well-respected.
Success: 1.3 Keys
- Connecticut motorsports industry trade association has been around for over 25 years.
- One of few state motorsports associations with an executive director/management firm.
- Connecticut is a small state and allows for convenient member visits and meetings.
Leave a Reply