Budgeting

Budgeting is important in your race because your entire purpose (at least I hope!) is to make money for your organization.  Just like your “real life” personal budget, you have to spend less than you are bringing in.

A good rule of thumb is to spend no more than 50% of your participation fee on race expense.  Preferably the amount should be less than 30% but it will depend on the number of participants.

For example, if you have 300 participants the $800 race timing fee is not as astronomical as if you were to only have 50 participants.  The more participants you have, the lower cost per participant will be. (Our eBook has a budget template for this).

 

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