To be successful in business, you have to see what others do not. The great entrepreneurs have the vision to see a better path for a struggling business.
These gifted business leaders are not confined by past performance. In their mind’s eye, they’ve already charted a course for future success.
When you talk to Tony Parella, you know he has a clear vision for his beloved SVRA that extends across America. Given his incredible success, we would say the owner/CEO of the Sportscar Vintage Racing Association is right on track.
What follows is an adaptation of our extensive interview with Tony. The questions ran the gamut from racing to business philosophies, and the exciting digital future of SVRA.
We’re breaking the interview questions into a series of articles for you to enjoy. In this installment, we ask about what prompted Tony to buy SVRA and his initial game plan to grow the brand.
Crossroads In Life
ROD WORLEY, EDITOR – In 2012, your holding group, Parella Motorsports Holdings, LLC (PMH), acquired SVRA and Historic Sportscar Racing – West. What did you see that made the time right to make those acquisitions?
TONY PARELLA, Owner of SVRA – Well, you know Rod, I had spent 30 years in telecommunications, had a fantastic career. I was involved in taking two companies public.
I bought Shared Technologies, which was a company in bankruptcy at the time, and turned it around. Eventually sold it to Arrow Electronics, who is most widely known for sponsoring Indy Car.
So, I saw myself at a crossroads. What did I want to do with the rest of my life?
Part of me wanted to continue in telecommunications. It was very lucrative for me.
Part of me realized that I was passionate about the people who worked with me. But I was never really excited about phones or networks. It’s just that it was a means to the end, as they say.
A Game Plan For Success
TONY PARELLA, Owner of SVRA – Throughout my life, the one constant was my love affair with cars and racing. As I evolved as a vintage racer, I met the owner of SVRA.
After some discussions, we cut a deal where I bought SVRA in 2012. My vision was to change the face of vintage racing in this country.
In terms of a business model, there were changes I felt we could make. Changes that I believed would make the Sportscar Vintage Racing Association a profitable, and preeminent national brand.
At the time, there was no one out there that ran a national schedule. No one had done anything significant with sponsors.
Also, no one was consistently promoting the brand. I felt we needed to reach out to our audience through a national TV show for vintage racing.
We have so many unique, engaging personalities in this sport. I felt we needed a platform to share them with our fans.
So in simple terms, my business model was to take it national, attract enough racers that race-related brands would want to come in. The scale would then grow to be big enough to attract luxury brands to invest in the business.
Soon you would draw a large enough attendance at the gate that great consumer brands would want to be involved in it. And honestly Rod, that was the plan.
Adding COTA And The Indy Brickyards To The Plan
TONY PARELLA, Owner of SVRA – I also wrote in the business plan that we would have a Vintage National Championship at the new F1 Circuit of the Americas (COTA.) F1, as you know, is the FIA’s highest ranking for a racecourse. COTA fortunately is just outside of Austin, Texas, which makes it a great location.
I knew that the new track would be a big draw at the gate. The plan didn’t stop there.
Growing up as a race fan, the Indy 500 was the most prominent race in the country. I thought if we could run the road course in Indianapolis, we could have a mega-event every year.
Up to that time, no amateurs have ever raced there. So those two events and taking it National was a pretty aggressive business plan.
But, I knew if we could execute and be careful in our spending, that the demand would be there. And that has proven to be true.
You know, it’s a privilege to work in something that you’re passionate about in life. I’ve found working in vintage racing, Trans-Am racing, and the Speed Tour Quarterly magazine to be very rewarding.
The whole platform is truly a labor of love, as a racer, and as a fan. SVRA has proven to be a very good business. It goes against the trend, but we’re doing very well.
The Vision Is Clear
Not only is Tony’s direction for the future clear, but it’s also moving forward at full speed. He has created powerful synergies between the SVRA vintage racing, Trans Am, IGT contemporary sports cars, and the popular Vintage Race Of Champions (VROC.)
The Vintage Race Of Champions (VROC) segment featuring legendary drivers has generated strong growth in sponsorship, membership, and event attendance. It’s easy to see that Tony Parella has a nationwide vision for SVRA, and he has the throttle pushed to the floor.
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Tony Parella – A Love Affair With Racing
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