Motor Racing Legends

Strategy Development and Implementation

Business Need

Motor Racing Legends (MRL) is an organiser of a number of prestigious historic motor racing series and has a heritage going back over 30 years.  Having successfully built a small family business the challenge for the owners was to transform MRL into a leading international operator.  Recognising that their own entrepreneurial flair may not be enough, the Directors decided to bring in some experienced outside help to give more focus and speed up the change.

Andrum Solution

Andrum worked closely with the whole team to develop a new vision and strategy for the business.  They then helped to reposition and rebrand MRL, identifying new revenue streams at the same time, whilst also culling a number of unprofitable activities.  Tighter financial control was also required so Andrum introduced a new business forecasting tool and a monthly reporting routine that the whole team could get involved in.  Regular support continues through ongoing board advisory services.

Outcome

MRL now has a clear proposition in the market and a brand that resonates with a highly exclusive customer base.  New customers have been won whilst improving margins at the same time.  Not only that but the clear strategy and priorities means the team are opening up fresh opportunities to be even more entrepreneurial, such as branching out into launching new events.