Canterbury Motor Racing School
Driving financial success takes chequered flag
The love of fast cars brought Michelle and Andy Neale, owners of Canterbury Motor Racing School to Paul Rickerby at Markhams Christchurch. The trio met at one of the school’s popular corporate days where businesses swap desks for speedy rx7s.
"We are passionate about motor racing, providing high performance driver training and giving drivers a rewarding memorable experience. Our last accountant didn’t grasp our love of cars, which quite literally drives our business. It is refreshing to have an accountant who understands what it takes to run a racing school," says Andy.
Building on their shared interest, Paul and fellow Markhams director, Graeme Rhodes have subsequently purchased their own race car, a V8 Batman. Andy regularly lends a hand and gives advice when Paul and Graeme are racing.
Established in 1992 but owned by the Neale’s since 2004, Canterbury Motor Racing School is based at Powerbuilt Raceway, Ruapuna Park and is the only New Zealand operator with its own purpose-built trackside facility. The School provides motor sport courses ranging from gift voucher race experience days, to one on one intensive driver coaching. Packages are also provided to the Canterbury Car Club.
"The business is based on my 20 years of extensive motor sport experience from single seater Formula Fords, to Saloon cars, Group A BMW’s, Porsches and Holdens. I won major championships as a driver and engineer. Sadly a nasty accident ended my international driving career and then I worked on the mechanical side up to Formula One. I’ve worked with Formula One stars Jacque Villeneuve, Olivier Panis and Ricardo Zonta. I get so much satisfaction from helping others become better drivers," says Andy.
A strong team, Andy is responsible for driver training, car maintenance and equipment while Michelle handles all administration and marketing. Other staff are contracted as required for Give it a Go days and corporate events.
The School is in the process of revamping its vehicle fleet, phasing out the ‘Batman’ 13B RX7s and replacing them with V8s. "It is challenging to remain current and offer more to customers, particularly as motor sport requires large capital outlay and fuel costs keep rising. We believe that new driving experiences will attract previous customers back."
Paul has been assisting the Neales since 2005 and completes all their end of year financials. "We also use Paul as an ‘ear’ to help us make sound decisions, especially where long term change is involved. Paul prepared the financial projections on the change to V8s so that we had a concrete plan to take to the bank. It was much easier all round," attests Michelle.
The Neale’s have found business challenging in the past year, earthquakes and the recession have had significant impact. Keen to remain nimble, Andy is also undertaking contract work for car manufacturers in Auckland.
"The success factors of our business keep us strong. There is little competition, we are located right on the track and we provide fun, experiences, which are ideal as a unique gift. The key is to move the business forward with fresh new driver opportunities," says Michelle.
Published Winter 2011.
