Speedshow expo on the market for sale

The business behind New Zealand’s biggest automotive exhibition has been placed on the market for sale.

The two-day Speedshow expo’ is held annually at Auckland’s ASB Showgrounds – drawing in crowds of up to 10,500 automotive-enthusiasts with a passion for standard production cars, racing modified cars, and motorcycles.

Launched in 2007, Speedshow features not only the fastest, but also the coolest two and four-wheel exhibits by automotive clubs and individuals – from rebuilt vintage and classic cars through to the very latest prestige marques, along with everything which goes into and onto them.

The broad range of exhibitors at Speedshow encompasses automotive parts retailers, clothing outlets, engine performance improvement companies, paint and panel shops, tyre manufacturers, tools and equipment purveyors, along with motorsport-related clubs and activity providers.

The list of Speedshow‘s sponsors includes Engine lubricant manufacturer CRC as naming rights brand, with second-tier sponsorship from the likes of Teng Tools, Hot Rod magazine, car sales company Giltrap Group, and hamburger chain Wendy’s. Tickets to the event range from $15 for 10 to 15-yer-olds, and $25 for adults. Children aged under 10 are admitted free.

The event had been hosted at the ASB Showgrounds for the past seven years – with the venue offering 18,000 square metres of exhibition space as well as access to an outdoor arena with stadium style seating. The show partners with various automotive industry consumer publications to publicise the expo’ – in addition to using radio, TV, and social media channels.

Now Speedshow expo’s operating company is being marketed for sale with an attractive asking price of $250,000 by Bayleys Auckland. Business sales specialist Wayne Scurrah said the business’s owner was now 80-years-old, and wishes to sell out from a venture due to his retirement.

“Speedshow is a spectacular event which showcases the finest, fastest, and coolest automotive machinery around. It has withstood the test of time – being a proven and successful business model providing good returns from multiple sources and still without competition in the market place to the scale it delivers,” Mr Scurrah said.

“With the size and breadth of the automotive industry in New Zealand, combined with the near-fanatical interest of motor enthusiasts, Speedshow’s marketing generates exceptional interest leading up to the show, translating into consistently strong visitor numbers through the turnstiles each year.”

Trading figures from the business over the past four financial years show an average annual revenue of circa $465,000 for its owners - with corresponding average six-figure operating surpluses base on an owner operator model.            

To fully realise the excellent potential the event is suited to either an owner operator or event company wishing to add to their calendar of activity.

“With a well-established history of attendance, sponsorship, and exhibitor support – combined with virtually no competition in the automotive events segment – a new owner of the Speedshow business could take the event to new heights,” he said.

Mr Scurrah said there were several opportunities for growing revenue from the Speedshow brand – including:

• Growing the number of sponsors

• Adding more associated events, seminars, or presentations, with the potential to increase admission charges to those individually without diluting general admission charges

• Adding a ‘Trade Only’ day for those in the automotive industry

• Increasing the range of on-site food and beverage concessions by creating the likes of a boutique craft beer hall with food truck dining experience; or

• Taking the Speedshow brand nationwide to potentially launch in Hamilton, Wellington and Christchurch.

Exhibitor fees for space at this year’s Speedshow ranged from an entry level $695 for an outdoor stand up to $17,400 for a premium space inside one of the Logan Campbell Centre’s indoor halls. The event had 220 exhibitors showing their wares at this year’s event.

In addition to the trade exhibits over the two days, Speedshow also hosts a full programme of live events in the adjoining A & P arena next to the ASB Showgrounds halls. Entertainment throughout the two days includes stunt car and stunt bike performances, lawn-mower racing, go-cart racing, all-terrain vehicle demonstrations, drifting burn-outs, and dragster shows.

“Speedshow’s ability to deliver a highly-targeted audience means that many exhibitors confirm their involvement for the following year’s event soon after the current show is concluded,” Mr Scurrah said.