How much have marathons continued to grow in the past decades? Back in 1976, there were an estimated 25,000 individuals who finished marathons in the U.S. Fast forward four decades; there is an annual average of around 500,000 marathon finishers in the country. The highest number, so far, is 550,600 marathoners, which was set back in 2014.
Even if managing these events can be time-consuming, costly, and requires a lot of energy, corporations are getting in on the business of organized road racing because of the benefits it yields, such as the following:
Lucrative return on investment
The largest revenue stream during marathons is the participation fee; the New York City Marathon charges a $255 registration fee for the participants. But even with all the cost channels involved, from marketing to operations, there is still a large amount of profits that awaits. Therefore, companies usually organize races for charitable fundraising.
Long-term partnership with sponsors
Marathons, especially those that are created for charity or philanthropy, attract sponsors who wish to contribute, too, to a worthy cause. This provides a means for the organizing corporation to establish a rapport with these sponsors which could prove advantageous for both parties overall.
Community building
With thousands of runners looking to participate in marathons, half-marathons, or other running events, organizing one can serve as an effective tool for community building and networking opportunities.
Steven Rindner is a real estate investor with experience in residential and commercial real estate. He’s also into marathons, entrepreneurship, and education.
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