Electric wheelchair racing is a fast-growing sport that is gaining popularity around the world. As interest in this exciting new sport continues to grow, there is a need for a National Electric Wheelchair Racing Program that can provide the resources and support needed to develop the sport at a national level. This feasibility study is designed to explore the potential for such a program and provide a detailed analysis of the costs, benefits, and risks involved.

Market Analysis

Electric wheelchair racing has grown in popularity in recent years, with a significant increase in the number of teams and athletes participating in competitions around the world. The potential market for a National Electric Wheelchair Racing Program in the United States is substantial, with an estimated 2.7 million Americans using wheelchairs and a growing interest in sports and recreation opportunities for people with disabilities.

Program Objectives

The objectives of the National Electric Wheelchair Racing Program are as follows:

Develop and promote the sport of electric wheelchair racing in the United States

Increase participation in the sport by providing resources and support to teams and athletes at all levels

Foster the development of new teams and athletes, especially in underrepresented communities

Provide opportunities for athletes to compete at regional and national levels, including participation in international competitions

Develop partnerships with organizations and businesses to provide support and resources for the program

Program Structure

The National Electric Wheelchair Racing Program will be structured as a non-profit organization, with a board of directors and executive team responsible for overseeing the program. The program will consist of the following components:

Training and development programs for coaches and athletes

Competitions at regional and national levels, including championships

Outreach and recruitment programs to develop new teams and athletes

Partnerships with organizations and businesses to provide support and resources for the program

Marketing and public relations efforts to promote the sport and the program

Financial Projections

The National Electric Wheelchair Racing Program will require significant investment to develop and implement. The following is a breakdown of the estimated expenses and revenues for the first three years of the program:

Year 1

Program development and implementation costs: $300,000

Salaries and benefits for staff: $250,000

Equipment and facilities: $150,000

Marketing and public relations: $50,000

Total Expenses: $750,000

Revenue Projections

Sponsorship and grants: $250,000

Registration fees: $50,000

Merchandise sales: $25,000

Total Revenue: $325,000

Year 2

Staff salaries and benefits: $300,000

Equipment and facilities: $200,000

Marketing and public relations: $75,000

Total Expenses: $575,000

Revenue Projections

Sponsorship and grants: $500,000

Registration fees: $75,000

Merchandise sales: $50,000

Total Revenue: $625,000

Year 3

Staff salaries and benefits: $500,000

Equipment and facilities: $250,000

Marketing and public relations: $100,000

Total Expenses: $850,000

Revenue Projections

Sponsorship and grants: $750,000

Registration fees: $100,000

Merchandise sales: $75,000

Total Revenue: $925,000

The financial projections for the National Electric Wheelchair Racing Program were developed based on a combination of estimates and research into similar programs and sports organizations. The estimates were based on the following factors:

Program development and implementation costs: This estimate was based on the cost of hiring a team to develop and implement the program, including legal and accounting fees, website development, and other startup costs.

Staff salaries and benefits: This estimate was based on the cost of hiring a small team of full-time staff to manage the program, including salaries, benefits, and other related expenses.

Equipment and facilities: This estimate was based on the cost of purchasing or leasing electric wheelchairs, racing equipment, and facilities to train and host competitions.

Marketing and public relations: This estimate was based on the cost of developing and implementing a marketing and public relations strategy to promote the sport and the program, including advertising, social media, and other outreach efforts.

Revenue projections: The revenue projections were based on estimates of the number of teams and athletes who would participate in the program, as well as estimates of the potential revenue from sponsorship, registration fees, and merchandise sales. These estimates were based on research into similar sports organizations and programs, as well as surveys of potential sponsors and participants.

It is important to note that these estimates are subject to change based on a variety of factors, including the success of the program, changes in the market or regulatory environment, and other unforeseen circumstances. As such, the financial projections should be viewed as a starting point for the program, rather than a definitive forecast of its financial performance. Regular monitoring and adjustment of the program's finances will be necessary to ensure its long-term success.

Conclusion

Based on the market analysis and financial projections, we believe that a National Electric Wheelchair Racing Program is a feasible and viable venture. While the program will require significant investment, the potential for growth and development is substantial, and the benefits to athletes and communities across the country will be significant