Having just turned 30 this year, I think I can speak to some of the aging 20-something crowd. At least those in and around Central Indiana. I recently moved to Denver, so I can't speak to this market.
When I look at the events that my peers are paying to participate in, I notice some key differences. Mostly these are Tough Mudder/Spartan races and running-specific events:
- Competing/completing in a group is totally acceptable
- Group training is not only feasible, but preferred, and can be organized with fewer logistical concerns
- Themed events (Turkey Trot, Reindeer Relay, Strength in our Streets, etc.) are not only popular, they are the norm
- BEER and LIVE MUSIC at the event - before, during and after. This seems to be a factor that could easily be remedied, yet remains suspiciously absent.
And, although this is less common, speaks to my sensibilities as a millennial: Subscription-based pricing. If I were to offer a plan where for $50/month all year ($600), or a $400 one-time fee, you would get a guaranteed entry into all races a race company puts on, I would bet there would be success. Even if you limit it to a specific race category (i.e., all triathlons [could be further broken up by distance], all running events [again, broken up by distance if necessary], all cycling events [you get the idea]), you overcome the issue of under-capitalization, and you don't tie your budget to an imaginary or projected number of participants. Day-of participants and standard signups remain possible, but you're less reliant on that income.
Not everyone who signs up will race all the events they're able, but those who do are (in my mind) also more likely to bring a friend along on the day-of. If I know I can walk up on the morning of a race and have a guaranteed entry, I'll drag my buddy along and get him to join in. Perhaps this is an oversimplification, but I tend to consume by subscription more and more. Why should racing be any different?
Brenden Macy
Sports & Entertainment Attorney
I am Drive. I am Grit. I am Determination.