The Connecticut Motorsports Business Association is a nonprofit trade association of motorsports businesses in Connecticut and other interested parties. CMBA works to enhance and improve the motorsports business climate in Connecticut by promoting the sport to the general public, protecting the rights of motorsports businesses, and assisting businesses to improve their sales and profits.
CMBA was founded in 1974 as the Connecticut Motorcycle Dealers Association. In 1992 the association expanded to allow motorcycle accessory shops full participation in the Association. The name was changed in 1995 to the Connecticut Motorsports Business Association in recognition of the other motorsports products, such as personal watercraft and ski mobiles, that our members sell and service.
Our management team consists of the board of directors and officers of CMBA working closely with the executive director. In addition, a professional lobbyist is employed to keep us appraised of legislative activities and to help us affect desired outcomes. Ultimately the work will be divided among committees and the executive director may need to add staff to the Association management team.
CMBA provides a variety of services to motorsport businesses including the scheduling and coordination of a number of activities and events. These include monthly dinner meetings for information sharing, a spring motorcycle show, the winter conference and seminars, an annual Awards Banquet, and an annual Connecticut SuperRide.
In addition we provide direct services to motorsport businesses that include professional lobbyist services to represent our members with government agencies, communications in the form of a monthly newsletter and regular monthly meetings as well as special bulletins, and group benefits such as coordinating our members' dealings with insurance companies and distributors for rates and discounts.
Among the services planned for the future are: a group insurance medical plan for all members, a group buying plan, bringing the CMBA members onto the Internet for consumer sales and inter-member product distribution, a permanent rider education facility, and the development of a Connecticut Motorsport Park.
Research shows that the motorcycle industry has been growing for the past seven years. This includes all types of motorcycles. Today's retail sales produce more than 3.5 times the dollars produced in 1983. In addition, Powersports research stated that "56% of motorsports customers turn to their friendly neighborhood dealer for all of their routine service work." This creates a market with tremendous opportunities for small, local businesses if they can get the right tools to take advantage of the possibilities. For the most part, our potential members are very small businesses with limited resources for training and marketing. We can help them improve their earnings and increase the value of their investments with sales and management training and well as marketing information and marketing aids.
There are more than 100 businesses in Connecticut involved with motorsports. In addition, there are potential associate members outside the state, such as manufacturers, distributors, insurance companies, and others who service and sell to our members.
Since CMBA's goal is to bring together all interested parties in the motorsport industry, the company plans to have a broad target market with management focusing on franchised dealers, independent accessory and repair outlets, insurance companies, distributors/manufacturers, and other interested parties.
Our main strategy is the growth of membership. A large membership base provides revenue from dues and also positions CMBA as the true representative of the Connecticut motorsports industry.
We want to finance growth solely through cash flow. We recognize that this means we will have to grow more slowly than we might like but that no assessment of members or borrowing is necessary.
Our funding on membership and other services is expected to increase from more than $195,000 the first year to more than $263,000 the third. Net surplus is estimated to rise slowly but steadily over the next three years. Cash flow is expected to remain healthy. We plan to apply any surplus to legislative activities, marketing activities, or hold it for contingencies.
The Connecticut Motorsports Business Association is a trade association of motorsports businesses in Connecticut and other interested parties. CMBA works to enhance and improve the motorsports business climate in Connecticut. It is a recognized and respected representative and proponent of the motorsports industry.