Bob gives an update on the financial impact of the coronavirus on the endurance industry, what RunSignup is doing to respond, and what races can do to help.

2. ❖ 2/27 - First Blog
❖ 3/1 - First Weekly Stats Report
❖ 3/6 - I “Get the Math”
❖ 3/9-10 - Tools to Communicate and Build Reserves
❖ 3/11 - Explain Why Moving Fast
❖ 3/11-12 - Website and Virtual Tools
❖ 3/13 - US Declares State of Emergency
❖ 3/15 - Everyone Started to Understand

3. Industry risks and trends

4. ❖ 81% Drop in Revenue
❖ More than that since Virtual Races
make up nearly half of revenue
❖ Future Races seeing similar drop
❖ Seeing layoffs, furloughs and shift
to part time

5. ❖ Leak in the Boat
❖ Credit card network - Buyer - Seller
❖ Registration is liability until
promised service is delivered
❖ Historically, poorly cancelled races
40% chargeback race

7. ❖ Challenge Chargeback
❖ Adjustment to Race on Financial Summary
Page
❖ Send notification to race director to ask
registrant to reverse (more about this later in
presentation)
❖ Await answer on challenge

9. ❖ All Payment Processors protect themselves and
will do holdbacks / reserves
❖ PayPal in 2010, PNC in 2012
❖ RaceIt in 2011
❖ Watch chargeback rates and will adjust reserve
❖ Most payment processors pool all money and will
fund losses from the “float”
❖ Eventbrite - COVID-19 response

10. ❖ Like a branch bank
❖ Each Payment Account has a merchant
bank account
❖ Legal and Fiduciary Responsibility to
uphold credit card network rules for
liability of merchants
❖ CanNOT “borrow from Peter to pay Paul”

11. ❖ Pre Race Reserve
○ 10% on Payment Account
○ 20% on each race
❖ Post Race Reserve
○ 0-20% Post Race Reserve with excess paid Tuesday
9 days after event dependent on risk profile
○ Balance paid 3 weeks later
○ Both dependent on no chargebacks during that time
- reset to 3 weeks upon chargeback

13. ❖ 100% customizable - you choose 1
or multiple options to give your
participants
❖ Can also be used just as a message
with no options
❖ What works? Clear communication,
flexible options, and a contact
email.

15. ❖ Race Directors receive automated
notification when a chargeback is
made by one of your participants
❖ Link to transaction info
❖ Notifications includes a template
email / phone script so you can
easily reach out to the participant
and ask them to reverse the
chargeback

18. ❖ https://www.eventbrite.com/l/coronavirus-resources-event-organizers/
❖ SBA Coronavirus Site: https://www.sba.gov/page/coronavirus-covid-19-small-
business-guidance-loan-resources
❖ SBDC Newsletter (California-specific, but much of the info is national):
https://americassbdc.org/wp-content/uploads/2020/03/COVID-19-Resources-for-
Business-by-California-SBDC.pdf
❖ Facebook Small Business Grants: https://www.facebook.com/business/boost/grant
❖ National Federation of Independent Businesses Coronavirus Resource page:
https://www.nfib.com/content/analysis/coronavirus/latest-on-coronavirus-from-
nfib/
Will be adding more to RunSignup.com/coronavirus this week.

19. We are in this together.

20. ❖ Show more detailed financial data to race
directors - Chargeback data, pre and post-
race reserves, holds, etc.
❖ Chargeback notifications
❖ Removed $1 refund fee to make it free for
you to issue refunds via RunSignup
○ This is important for disputing chargebacks and
making sure no one “double dips”

21. ❖ Virtual Race Posts
❖ RaceJoy

22. ❖ Donation websites & donation
forms
○ Webinar tomorrow at 4pm:
https://resources.runsignup.com/webinar
-calendar/
❖ Fundraising campaigns
○ Stand-alone fundraising campaigns for
501c3 organizations
○ Continue to fundraise with virtual events