Ben has returned to Memento Exclusives to discuss the great strides the company has made since their last appearance on the podcast.
He sits down with his long-term friend and the founder and CEO of Memento Exclusives, Barry Gough.
When sport and business collide
Memento Exclusives have licenses with Formula 1 teams, UFC and MotoGP to offer one-of-a-kind memorabilia. In the past five years, they have also expanded to building show cars, formula racing simulators, and pitstop rigs.
Motorsport teams buy show cars to use for events, promotion, activation, and more. They are visually identical to the standard race cars – except they don’t have the same firepower.
On 1st May, Memento Exclusives are opening an on-site experience centre. This will feature immersive racing and pitstop simulators which the public can test their skills on.
A calculated risk
Memento Exclusives invested £500,000 into their show car programme. Targeting a highly niche and specialised field was not without its risks. In the licensing and motorsport industry, it can take a long time for results to pay off.
Thankfully, after about a year, Barry knew he had made the right call and the business has reaped some amazing results. Their turnover has grown significantly and they are one of the Top 100 Independently Owned Businesses in Northamptonshire.
Last year they made around 60 cars, but this year they are on track for 180 – highlighting the huge increase in demand for the business. They make the show cars for 9 out of 10 teams on the F1 grid and are continuing to innovate their cars with new features.
Barry emphasises the importance of adapting to changing business climates. He found that shifting priorities from memorabilia to show cars has been a strategic and more scalable business move.
Watch or listen to the episode here:
Thank you to our Digital Media Partner, DFA Law LLP.
