Making The Most of The Grand National as an SME

Horse racing is a quintessentially British event (it’s the second-most attended sport in the UK), and the Grand National is a perfect example. Taking place at Liverpool’s Aintree Racecourse, this nearly 200-year-old tradition still enjoys enormous popularity and remains one of the most-watched and well-attended horse racing events in the world.

With the crowds comes a huge number of exciting small business opportunities. In this article, we’ll be looking at how to increase profits for your small business using the opportunities presented by the Grand National. We’ll also examine how you can leverage the Grand National to increase your revenue and expand your business, while discussing the general economic benefits of the event itself. Read on to learn more.

How The Grand National Benefits Small Businesses

The Grand National’s primary benefit is the influx of economic incentives it creates for nearby businesses. According to research from the Liverpool Business School, the 2022 Grand National generated over £60 million for the local economy.

More significantly, £40 million of that amount comes directly from visitor spending, as opposed to investments made by Aintree or the local authorities. If you operate a small business in Liverpool, accessing your share of that £40 million should be your primary goal during the Grand National.

The Liverpool Business School study also found that 74% of social media engagement related to the Grand National originates from within the UK. This provides an insight into the demographics paying attention to the Grand National, which is important for small businesses as they can piggyback off of the attention received by the race itself to advertise their goods. Using hashtags or posting using Aintree as your location can help draw a UK-wide audience to your social media, helping expand your audience.

Small Business Opportunities at The Grand National

Hospitality Opportunities

One of the most significant opportunities available to small businesses located near Aintree comes from tourists (either UK-based or international) who need a place to stay and something to eat while attending the three-day racing event. After all, around 150,000 people attend the Grand National each year, with a significant number of them coming from outside Liverpool.

In order to attract as many of these tourists as possible, make sure you have an active social media presence, and that you use the hype around the Grand National to your advantage. Advertise your rooms or restaurant bookings as Grand National specials, offering reduced prices if possible.

Fashion Retail Opportunities

While there is no official dress code for the Grand National, it’s usually a formal event. Small businesses can use this to their advantage by selling accessories to help racecourse attendees look their best.Businesses that don’t usually have a focus on fashion retail can still offer small products (such as ties, hats or costume jewellery) to finish off outfits or replace anything tourists may have lost or forgotten at home.

If your small business sells clothing, the Grand National presents a great opportunity. Amplify your advertising to draw in racegoers who need an outfit for the day — Ladies’ Day in particular is highly fashion-focused, as it actually includes prizes for the best-dressed visitors.

Memorabilia

The Grand National might end up being a once-in-a-lifetime day for some attendees, so selling something for them to remember it by is a great way to boost profits.

Classic souvenir examples (like picture frames, keychains, or mugs featuring fan-favourite horses or images of the racecourse itself) are easy to obtain, but may not sell in large quantities. If your small business offers handmade goods, adding a Grand National theme to your usual products may help boost revenue over April.

Keep in mind that the Grand National is a trademarked brand. As such, please ensure you don’t advertise any of your memorabilia as official Grand National merchandise, or use any copyrighted logos and branding.

Race Day Supplies

Small businesses thrive on identifying gaps in the market or appealing to underserved demographics. If you want to increase profits for your small business during the Grand National, try to discover a product niche you can take advantage of, however small it might be.

The Grand National is an outdoor event, and while it takes place in April, there are no guarantees when it comes to the British weather. Selling umbrellas or waterproof ponchos just in case the weather goes wrong can net your business a small increase in revenue during the races. Rainshader, a company focused on its innovative umbrella design, came about specifically in response to the need for umbrellas at the Grand National.

Similarly, two 12-year-old entrepreneurs took advantage of footsore Grand National attendees at last year’s event, earning a decent profit by selling flip-flops near the Aintree racecourse.

Take Advantage of New Opportunities with Rev&U

Do you need additional funding to fully make the most of the small business opportunities presented by the Grand National? 365 finance can help.

Through our innovative Rev&U finance solution, we can provide small businesses with enough funding to design new products, supercharge their marketing, and hire temporary staff. Our funding is also easily accessible — applications only take minutes and we can approve you for funding within 24 hours.

At 365 finance, we can provide both long and short-term financial solutions, with revenue-based funding available from £10,000 to £400,000 in capital. Apply for Rev&U today without affecting your credit score, or speak to our team to find out how we can help your business. To find out more, head to our website.