Competition costs

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Vindii

Knows what a fatty is.
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What percentage of teams do you think can cover their costs for a season? Top 10%? more? Less? Even just at break even. What do you think?

I know how well you finish is a big factor. Are there other things that help? Picking the right contests to compete in? Number of event you cook?
 
How much cost you have going in to it. A major point is the prize fund. I've cooked contests this year where 1st place was $1k. Also have cooked at a contest that first place was $150.... Quite a few teams can cover expenses and not just the top teams....
 
Events where sampling is permitted and the event shares the revenue generated from sales of sample tickets is a nice way to offset costs. Doesn't help for the whole season but does lighten up the cost of individual events by selling off your leftover meats after turn in.
 
we've been fortunate enought to break even last year and might end up a little ahead this year. Lots of factors go into it, We keep costs down to a minimum, contests that are over 3 hours away we dont take our trailer, We've also got it down to cook 1 brisket, 2 pork butts 16 chicken thighs and 3-4 racks of ribs (this has worked for us,but probably not everyone). When we choose a contest it had to be at least 10,000 in prize money, less then that and GC might not even make their cost back. Entry fee to prize payout is a big decision maker on which comps we do. We've also gotten really selective at which contests we vend at (this is a big one) we used to sell at every competition, some we would make money some we would lose money, but all of them hurt our scores. We now vend at 1-2 events that we know we can make a good chunck of money.
 
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Due to my creature comforts, I spend a little more than most would doing this comp thing solo. However, I stay close to even and if I finish the season less than $5000 in hole, I am extremely happy.
 
We've broken even or come out ahead in two of our 5 years competing. Overall we're in the hole. I think there are very few who break even or come out ahead consistently. Some will have a great year and make some money, but then the next year will be in the hole again.
 
I really think more teams finish in the black than you think... and I am not talking about the teams that do 35+ contests a year. I travel a ton, cook less than 15 per season and I would make money if I didn't kick it back to my foundation for cancer research. Even if I didn't count sponsors for fas et IL, I would still probably be on the black. It can be done, you have to be consistent and you need to hot a few/couple big payers over $2-3k...
 
Actually Scottie I disagree...At King of the Smoker I asked at the cooks meeting (the only one Ive been to) How many of the twenty four were cash flow positive...4 raised their hands....one had one pitmasters the other had a couple of big sponsors...2 out of 22 I think its possible but I dont think many do
 
Big Poppa said:
Actually Scottie I disagree...At King of the Smoker I asked at the cooks meeting (the only one Ive been to) How many of the twenty four were cash flow positive...4 raised their hands....one had one pitmasters the other had a couple of big sponsors...2 out of 22 I think its possible but I dont think many do
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But at your event you had the "cream of the crop" of competition bbq teams. I would guess that these are the teams that focus more on awards than PC results, use high end product, and might cook 3-4 wagyu briskets simply to get the best 6 slices for the box. This makes it likely that they are not profitable from a competition cost vs award payout comparison. However, these are likely the same teams that ARE profitable with their competition classes, endorsements, product lines, etc - and they might simply consider the actual competitions as marketing opportunities
 
If it wasnt for vending and catering bbq, we would not be in the black. Those things are what pays for our "fun" doing the comps. Most the teams I know pay for comps on there own and if they don't win anything their just out that money. Some do have a few sponsors to help for a few items...meats, rubs, sauces..gas for the trip..ect...
We have have been very fortune and worked hard to get good sponsors and save our money from catering and vending to pay for our season. And we do get some winnings to bring that account up to the black, but it's tough going up against those BPS elite teams in Iowa every contest..:sad:
 
Well--I think it hard for me to figure that even a small % are profitable. OK..only done about five contests and I am in the Northeast where meat is more expensive--without buying the high end meats it costs me close to $400 , toss in $250 entry--have not thrown in the other ie costs to get there and back..I don't get much change from $1000. If you enter 10 contests a season you are into it for 10k..what % of the teams out there can say they cash on average 1k per contest?

Hey--I am just trying to be honest with myself as I am get involved with this :shocked:
 
DUBBAGA said:
But at your event you had the "cream of the crop" of competition bbq teams. I would guess that these are the teams that focus more on awards than PC results, use high end product, and might cook 3-4 wagyu briskets simply to get the best 6 slices for the box. This makes it likely that they are not profitable from a competition cost vs award payout comparison. However, these are likely the same teams that ARE profitable with their competition classes, endorsements, product lines, etc - and they might simply consider the actual competitions as marketing opportunities
Click to expand...

Really? I don't buy it. They all have sponsors out the wazoo. At $500 to $700 (or more!) a comp in expenses (NOT including capital costs) no way there are many teams breaking even.

We have no sponsors. I AM LOOKING FOR SPONSORS. We've done ok the past few years. Last year, 8 comps, 1 GC and averaged 2 calls (checks) a comp. Best season ever and still $2K in the hole. $2K!

This year we are doing MUCH better overall but no GC or RGC yet (3rd ,4th, 4th, 5th, 8th, 10th). So we've got our share of walks and checks. I know we are in the hole. Add expenses for the Royal and I expect to be in the red for over $2K this year.

Covering expenses for most teams is a fantasy. This is a hobby for most and will cost $$ for most just like your friend or relative who plays golf every weekend.
 
Ackman said:
Well--I think it hard for me to figure that even a small % are profitable. OK..only done about five contests and I am in the Northeast where meat is more expensive--without buying the high end meats it costs me close to $400 , toss in $250 entry--have not thrown in the other ie costs to get there and back..I don't get much change from $1000. If you enter 10 contests a season you are into it for 10k..what % of the teams out there can say they cash on average 1k per contest?

Hey--I am just trying to be honest with myself as I am get involved with this :shocked:
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Ackman- wrote my response before I saw yours. You are right on. We cashed $100 for our 4th place finish this weekend. That didn't cover paper towels, gas, charcoal, and beer.
 
BBQ_Mayor said:
If it wasnt for vending and catering bbq, we would not be in the black. Those things are what pays for our "fun" doing the comps. Most the teams I know pay for comps on there own and if they don't win anything their just out that money. Some do have a few sponsors to help for a few items...meats, rubs, sauces..gas for the trip..ect...
We have have been very fortune and worked hard to get good sponsors and save our money from catering and vending to pay for our season. And we do get some winnings to bring that account up to the black, but it's tough going up against those BPS elite teams in Iowa every contest..:sad:
Click to expand...

We're in the same boat. I vend most of the competitions that we compete in. It helps us out greatly and gets our name out there a little more. But vending comps can be a gamble too. If it rains its going to be a bad weekend. But vending has kept us ahead of the game so I'm thankful to be able to do all of it together. Its Not easy! :biggrin1: :tsk: :biggrin1:
 
Big Poppa said:
Actually Scottie I disagree...At King of the Smoker I asked at the cooks meeting (the only one Ive been to) How many of the twenty four were cash flow positive...4 raised their hands....one had one pitmasters the other had a couple of big sponsors...2 out of 22 I think its possible but I dont think many do
Click to expand...



Hell yeah they have a lost money. You know how much gas it cost those guys to drive to Indio?

I don't believe that they are losing though. If they are, its only because they cook so many contests.. and chasing TOY points at the end of the year kills teams cost side...
 
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