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We host local AutoX's which started out as a bunch of us having fun, a few years later we're hosting 4x the amount and having to limit the amount of people who participate in the events because some of them have been larger than we can accommodate.
My suggestion is to start off small, figure out what works, what doesn't. Then expand. Our insurance is roughly $600/day for the events, it started off at almost double that I think it was, not sure. Try to get some kind of exclusive rights to rent the facility once you have a spot so someone doesn't try to take over your spot.
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