Ok, so yesterday I was having a conversation with my wife about me wanting to do a full Ironman. We were talking about costs, etc. I informed her that the cost for an Ironman race was $425 (IMAZ) and she almost lost it! After that I could not help it but try to figure out why the $425 cost for the race. I mean, sure they provide you with gatorade, gu, finishers T-shirt, finishers medal, etc. But does it all really amount to $425. Assuming you would get a bottle of gatorade at each aid station, thats about 12 bottles on the bike course (at $2.00 each = $24). I am not sure how many aid stations throughout the run but regardless, it can’t be more than an additional $25. T-shirt = $25, medal $15, gu = $50. Where is the rest of the money going??? Can some RD please chime in on this one?
If you do a search, there has been some pretty well thought out educated guesses. WTC and IMNA certainly make good money, otherwise GF wouldn’t have houses in every state.
But, I’d say $400 is within the general area of where a race this caliber should be. High even to keep the riff-raff out, but yet low enough to pony up once or twice a year. Once you add up the entire bill, the race entry will be the least expensive…
Do you honestly think the only expense is the Gatorade, finisher’s medals and t-shirts? For starters, I’d guess that the insurance and on-site emergency medical care for about 2,000 racers is pretty expensive. It’s also a business. Businesses need to be profitable to stay in business.
The only other thing I can think of that could use up all that money is the Medical Tent. Providing IV fluids, and other medical supplies, but other than that, where else is the money going?
nothing wrong with making money…people are willing to pay anyway…
if you could, wouldn’t you get $40,000 extra a year…
my only issue is the low prize money in general…the rest is fine…they have a product, it sells out super fast, there is demand, good for them.
I can’t speak specifically for WTC/IMNA, but generally speaking, typically, the cash prize money does not come from the participant revenue. It can, but it’s riskly to do this. The cash for the prize purse is put up by a sponsor.
For huge prize purses, of the kind with performance bonuses attached to them, those are often run through an insurance company. I know that this is the case with many of the major marathons, who have huge bonuses for a world-best time or course time. I note that many of these events also have big sponsorship from the financial services( Banking/insurance) sector.
For a rank outsider, looking in, $400+ to enter a “race”, likley seems outrageous! However, if you tally up the total costs to getting to the starting line of most IM races, and the actual entry fee is not that big. A rough estimate on my part would be that a travel-to IM race will cost in total $5-$10,000 during that year. This may be the more sobering discussion that needs to be had with your SO.
permits, fees, insurance, rental of equipment, payment of staff wages, promotional costs, along with prize money and cost for actual goods dispensed at the race, at the end of that - there is som eleft for the RD and their company - they are after all running a business!
They charge what they do - because they can - and also - they need to be profitable - for without profit - there would be no races.
I hear your concern - it seems like a lot of money - but - no more expensive than a big weekend of shopping - or a couple of nice dinners spread over a few months.
By no means I am saying that I would not pay the entry fee, but I was just curious. I guess not being involved in planning or putting a race together, I never think about how much that costs??? I just want to know how the money is distributed!
I’ve gotta say, if it was my event that was selling out in less than 48 hours at $450, I’d double the price. Why wouldn’t they? Clearly there are more than enough peolple willing to pay the price so why shouldn’t they charge that much.
I was signed up for Lake Placid this summer and dropped out after I thought about the cost for a few weeks, travel, hotel, food, etc., but they certainly aren’t going to miss me.
At first, putting on events seem like a licence to print money. Why is it risky? Here’s just a few of the challenges:
Finding, getting and keeping sponsors, is a huge undertaking. That’s why many small to medium races fail. They don’t have someone selling the race full time - because it is a full time job. I have worked on the fringes of this business for many years and I challenge anyone to go out and try and sell even $5,000 cash sponsorship. You better get used to making MANY phone calls and knocking on MANY doors and getting used to the words, “No thank you”. Also, sponsors that you have had for years, may just turn on a dime and say, “We have changed direction. Thanks for the good times, but we are moving onto another promotional area”.
Race participation, while not an issue for WTC/IMNA, can come and go. Say for some reason your participation drops by half - another race springs up in town. The weaher’s bad etc . . . Then what will you do about the prize purse that has been advertised and promoted. It may only affect a handfull of the elite participants, but the bad PR could kill you!
I have not even go onto the actual running-of-the-race costs and management issues - the “cones and cups” things.