When Will Speedway’s Become 7 11? [Ultimate Guide!]

There’s been quite the media blitz surrounding 711 Speedway, the newly renovated NASCAR track that boasts all-weather conditions and a variety of exciting tracks. From a Reddit AMA with the owner himself to a highly-anticipated grand opening this year, it’s seemed like everyone has an opinion on the matter. While the response has been overwhelmingly positive, a common question has been: When will 711 Speedway become 7 11?

The answer to that question might surprise you. According to a new study published in Transportation Research, it could take well over a century for 711 to reach its full potential.

The title of the study, “Wondering When Will Speedway’s Turn into 7-11?”, sums up quite nicely the purpose of the analysis. It quantifies the length of time it would take for 711 to achieve annual revenue levels comparable to those of the average superstore (defined as possessing more than 641 parking spaces, including all-weather and adjacent lots).

To put the magnitude of that figure into perspective, the study authors note that the average superstore earns approximately $10 million per year, while 711 Speedway currently generates about $4 million per year. In other words, it would take 711 roughly 82 years to achieve revenue parity with the average superstore.

Of course, these are purely economic metrics. The study does not consider factors such as nostalgia or brand loyalty when measuring the growth of 711 Speedway.

Why 711?

It might seem odd that the authors of the study chose to use 711 Speedway as their metrics for comparison rather than another NASCAR track. After all, the speedway is owned by one of the most successful and well-known sports franchises in North America. As the saying goes, location, location, location. While some might see an affinity for 711 between the study authors and NASCAR, that’s not the case. They chose 711 because it was the only NASCAR track located in the Midwest that offered annual racing in the fall and winter, which is when the study was conducted in the fall of 2018.

The authors chose to examine the revenue growth of 711 because it is currently the only NASCAR track located in the Midwest that offers a significant amount of competition throughout the year. They also wanted to examine how long it would take for 711 to reach its full potential based on current trends in consumer behavior and industry standards. Finally, they examined the impact of certain marketing and sales strategies that could be applied to increase revenue at 711 and other tracks as well.

What Are the Main Conclusions?

Overall, the study authors conclude that the revenue growth and profit potential of 711 are both “encouraging.” Specifically, they note that the track “offers a lot of upside based on the current economic environment, as well as [the] recent developments [that] make it a more attractive investment option.”

However, they also caution that “there are significant challenges that need to be overcome before 711 can become a profitable entity on a yearly basis.” These challenges include achieving a sufficient amount of revenue to cover operating expenses and the need to “maximize the attendance at the track to ensure sufficient profits.”

In terms of the former, the study authors note that 711 is a “less expensive option to purchase than several other tracks, but [it] still ha[s] significant operating costs that need to be covered.”

They also note that the limited seating at the speedway “makes it more of a luxury item to purchase” since it is “difficult to achieve mass appeal with [a small] seating capacity.”

Additionally, despite its encouraging revenue and profit potential, the study authors conclude that 711 is still “under-marketed” compared to other NASCAR tracks, which could explain its modest revenue level.

On the subject of marketing, the study authors note that the track “needs to significantly increase its digital outreach and social media presence to attract more fans.” They also suggest that “special offers and discounts” could be used to attract potential customers to the track, as could more frequent flyers offers and the promotion of live music and entertainment at the track.

The study authors acknowledge that these suggestions require “significant investments of time and money,” which is why they suggest that 711 “maximize[s]” its revenue potential by “attracting more fans to the track.” Finally, they suggest that 711 “seek[s] sponsorship support” for its digital outreach and social media presence. This sponsorship, the study authors argue, could provide “significant” additional revenue to the track, which could help make it profitable.

Key Takeaways

Overall, this study confirms what most have suspected: It will take a while for 711 Speedway to become 7 11.

The findings of this study might surprise you. While it could take 711 Speedway 82 years to achieve revenue parity with the average superstore, the study authors assert that the track has a lot of potential and that it is a worthwhile investment.

However, the track still has a long way to go. In light of the recent COVID-19 pandemic, it has halted all racing activities at the track. Therefore, it will be unable to generate any revenue for quite some time. As a result, the outlook for 711 Speedway is undoubtedly grim.

Still, one has to wonder what could have been if the COVID-19 pandemic never happened and if the track was still able to operate as it always had. That’s a question that might never be answered.

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