So, two months plus out from the event here is what I (think) I know:
- Anyone you count on will let you down, i.e. the transport company that was to be a sponsor proved to be unreliable. As a result, numerous cars committed to attend were not at the event. Fortunately, we didn't promote them early, so we didn't "bait and switch".
- Vendors will promise delivery and then claim all sorts of "issues" that prevent them fulfilling the order. "Sure, we sent the lanyards to the wrong address, but we can get them to you on Tuesday. Yeah, that works, the event ends Sunday"
- Butt pucker: Personally, on the hook for over $100K of commitments; hotel, guaranteed room count. Short? No problem, I pay the shortage. Dinners? Same, I pay. Track? Same, not enough cars, I pay.
- Merchandise? Well, I choked on the T shirt order. Played it safe. Safe saw us sold out of shirts Saturday AM. Could have sold three times the inventory we had.
- Other merch? Well, be sure to come to the estate sale my sons will have when I cash out. You will get cool stuff for 3 cents on the dollar IF they can find the stuff in the basement!
- Final accounting? So, I have still not been paid by a couple of vendors who I told "no worries, just send aa check when you get home". Looks like after investing over 100K, I will walk away with about $3,000. The goal was never to get rich; it was to have an event all could enjoy and not go upside down on the project. But as any good businessperson will tell you, less than 3% return on investment is poor business. Was it dumb? Yes. Would I do it again, hell yes! If I do, please promise to come to my funeral as my wife has told me in no uncertain terms "You will be dead" "I don't know, I guess he thought the pillow was a big marshmallow"