Author Archives: Janele Madyson

Liquor Stores Continue to Experience Sales Growth

Without meaning to, liquor stores are among the few retail businesses that continue to get a boost from the disruptions caused by the COVID-19 pandemic. Although most state laws on the sale of alcoholic beverages do not support direct delivery of wines and spirits to consumers, several state governments modified their laws into allowing bars, pubs, and other retailers of alcoholic beverages to do business by way of online drink delivery services.

Aren’t Alcoholic Beverages Bad?

The relaxation of some alcohol laws is quite understandable, since liquor and beer drinking are ingrained in American culture. Mainly because it is generally effective in relieving feelings of stress and anxiety.

However, laws had to be implemented as problems due to excessive alcohol consumption became prevalent, resulting in serious health disorders, irrational behaviors and other forms of mental health problems. Yet alcohol per se is not bad, because it also has health benefits. The problem is not the alcoholic substance but the tendency to be abusive or be dependent on the effects of alcohol, which in the past had often led to complex situations, or at worst, tragic outcomes.

Is DUI a Criminal Offense?

Driving a vehicle while having one drink too many is a criminal offense; a misdemeanor if one is a first time offender and a felony if one gets caught driving under the influence (DUI) of alcohol, repeatedly. Law enforcement authorities are strict in imposing DUI laws because countless road accidents have been caused by drunk drivers.

Needless to say car racing and alcohol drinking is not a good combination, which most race track car drivers are sensible enough to acknowledge. Yet car racing can also take illegal forms, such as drag racing and street racing.

Unfortunately, during the coronavirus lockdown, many took advantage of the empty streets and had engaged in street racing. Even more unfortunate is that they were participated in by DUI drivers, which caused serious damage not only to themselves but to others as well.

Recent Incidents of Street Car Racing Combined with Alcohol Drinking

To give an example of what happens when car drivers combine street racing and alcohol drinking, below are snippets of news of two accidents that happened recently:

In Burbank, California on January 31, 2020, rapper PnB Rock was arrested for DUI after his BMW smashed into 3 parked vehicles, as a result of a street race. Although the rapper had escaped the incident unharmed, his BMW and the three cars were all totaled, while a woman passenger in one of the parked cars was hurt.

Last May 18, 2020 in Payne County, Oklahoma, 2 DUI drivers engaged in a street race in Stillwater. Both drivers and their respective passengers who are in their 20s, were hospitalized for serious injuries sustained after their cars crashed at the intersection of Fairground Road and Airport Road. Witnesses told police that neither vehicle slowed down at the intersection; causing the vehicles to crash at embankments and careen. One was thrown in mid-air and then turned over several times when it landed. Both cars repeatedly rolled over and had pinned down passengers, causing serious injuries.

Increased Fan Engagement a Driving Force in the Global Growth of Motorsports Industry

The motorsports industry has been tracked by market researchers as the fastest growing sports in the world. Revenues from various segments such as those gained from ticketing, hosting fees, sponsorships, advertising, broadcasting and merchandising have driven growth that is expected to reach $6.87 billion by the year 2023.

According to the 2017 Nielson Sports survey, more than 194 countries across the globe are exposed to the world of motorsport, vastly increasing the growth potential of the industry. The Senior Vice President for Global Motorsport at Nielsen Sports, Nigel Geach, says that the advent of new media has contributed to the increased exposure of various forms of Motorsport, fostering increased engagement among legions of fans.

Racing enthusiasts are now watching more than one type of race event, in light of the growing number of TV channels; including the digital platforms that allow streaming of racing events as they happen in real time. .

The evolution of social media as a powerful source of Motorsport content has greatly contributed in bringing videos and photos for the worldwide audience to see and share. In many cases, social media posts tend to offer broader content as fans, equipped with smartphones and other forms of handheld devices take photos and videos, whilst looking and hoping to capture scenes that could go viral throughout the Internet.

As a result of increased fan engagement, many who are highly engaged in different types of motorsports racing, either as competitors or hobbyists, have ventured into motorsport merchandising or servicing business.

Highlighting the Importance a Business Plan When Engaging in Motorsports Trading Business

The motorsport trading industry though is filled with challenges considering that the global economy is volatile; instantly affected by trade wars, climate-change spurred calamitous events and unexpected decisions of major political leaders like Donald Trump.

Regardless of their expertise and experience in any field of motorsports, startup entrepreneurs should not overlook the importance of having a business plan in place as clear guide for strategic planning. Moreover, a business plan is essential for startup companies looking to raise additional capitalization from private investors or from banking institutions.

Engaging a business plan company is the best way to go about it, but make sure to contract one that offers not only customized business plan content but also marketing and funding consultations based on latest market research.