Executive Summary

The National Electric Wheelchair Racing Program (NEWRP) is a proposed program that seeks to establish a new sport in the United States that promotes electric wheelchair racing as a competitive sport. The program aims to provide athletes with disabilities a platform to showcase their skills and compete at a national level. The NEWRP will establish a series of regional and national competitions, supported by a centralized governing body.

Market Analysis

According to the CDC, around 61 million Americans, or 26% of the population, have a disability. The vast majority of these people face various mobility challenges, such as limited movement or the need for assistive devices. Electric wheelchairs provide a solution to these challenges, allowing people to move freely and live a more independent life.

However, despite the growing need for electric wheelchairs, there is currently no national program in the US that promotes electric wheelchair racing as a competitive sport. This presents a significant opportunity for the NEWRP to establish itself as a pioneer in this field.

Marketing Strategy

The NEWRP will initially focus on building awareness and excitement for the sport among the disabled community, as well as its family and friends. The program will leverage social media, targeted advertising, and events such as disability expos to reach its target audience.

Once the program has gained traction, the NEWRP will begin targeting sponsors, leveraging the growing popularity of the sport to secure funding for regional and national competitions. The program will also establish an online store to sell merchandise to fans and supporters.

Operations Plan

The NEWRP will be headquartered in a central location, with satellite offices in different regions to manage regional competitions. The organization will be governed by a board of directors, with support from a team of staff members and volunteers.

The NEWRP will develop and maintain a set of rules and regulations for the sport, ensuring fair and competitive racing. The organization will also provide training and support to athletes, including coaching and equipment provision.

Financial Projections

The NEWRP will initially require significant investment to establish the program and begin building awareness. However, the program is expected to generate revenue from sponsorships, registration fees, and merchandise sales.

In the first year, the program is expected to incur costs of around $1.5 million, including program development and implementation costs, staff salaries and benefits, equipment and facilities, and marketing and public relations. Revenue is expected to be around $500,000, primarily from sponsorships and registration fees.

By year three, the program is projected to generate $3.5 million in revenue, with costs of around $2.5 million. The program is expected to become self-sustaining by year five, with projected annual revenue of around $7 million and costs of around $5.5 million.

Conclusion

The National Electric Wheelchair Racing Program has the potential to transform the way disabled athletes are perceived and supported in the US. The program will create a new competitive sport that provides athletes with disabilities with a platform to showcase their skills and compete at a national level. With a strong marketing strategy and sound financial projections, the program is poised for success