As with any business venture, the first step is to truely analyze the costs invovled in order to price your product.

You're right, regatta's can be an expensive endeavor. The largest of which would be insurance. I would imagine that most regatta's are sponsored either by yacht clubs or Hobie Fleets, both of which have insurance in place already to cover an event. Call your insurance agent and find out some costs. Worst case, talk with the local yacht clubs in your area, maybe you can go in together.

You mentioned the cost of food and lodging. Inevitable costs in a sailors life. Many I know camp. Others hotel. Either eay, speak with various campgrounds and hotels about the possibilty of "blocking" sites or rooms. They will generally give you a better rate per room for guarenteed occupancy. Start with a small black and promote your race well in advance. You'd hate to be in the hook for sites/rooms that go unrented. When advertising these spots, do not sound desperate to unload them, turn it around and talk about how fast they are going. Remember the saying: "Nobody wants to eat at an empty restaurant."

For food, you might be able to try the same thing with local restaurants - work a deal with the restaurant to get discount vouchers to hand out at the regatta. This would be revenue for them that they ordinarily wouldn't get since the potential patrons are from out of town. A 15% off coupon would be a small price to pay for a customer that you would never have gotten otherwise. Or if a yacht club is involved, mayber you can use their facilities for a catered dinner. Do not offer the sale of this seperately. Raise the price of the regatta to cover the cost of this as well. Otherwise only a handfull of folks will come in the door and you may be holding the bag for the price difference.

Just a couple of thoughts. The way I see it, the keys are knowing your costs and PROMOTE, PROMOTE, PROMOTE.

Good luck.

John.