A very interesting and truly impressive company within motorsports, Mrk1 Consulting was established to fill a gap in the market for business consultants experienced in the operation of the racing circuit.
Historically, investors planning to build a race track, drag strip, vehicle testing facility, high-speed oval, or any other motoring activity venue, would either turn to traditional, generic business consultants for advice or they would simply go ahead without understanding the best practices in the industry or how to create a sustainable venue. Using over twenty years of experience and the knowledge attained whilst operating tracks in multiple countries, Mrk1 are able to guide their clients through the challenges associated with planning, implementing, operating, and sustaining a new motorsport venue.
We at Paddock magazine are thrilled to have Mark Hughes, founder and Managing Director of Mrk1, talking to us about the racing world’s most exciting circuits projects today.
What can Formula 1 as a business learn from other racing series?
That’s absolutely true, everyone can always learn something from someone and Formula 1 is no different. The sport employs some incredible, talented, creative people who push the envelope all the time. F1 already collaborate with series like MotoGP on camera tech, for instance, to improve the spectator experience. We can also learn from other sports such as the Olympics, football, and even up-and-coming series like the exciting eSkootr Championship!
It is interesting to see how F1 is embracing the global environmental challenges that we all face. The way they have slashed their airfreight requirements is inspiring and the fact that both the FIA and FIM have clearer environmental guidelines and initiatives for circuits is commendable.
I also love that Formula 1 isn’t afraid to consider how the sport can evolve such as trying the sprint race format at some events and I am excited by the new regulations that aim to address some of the current criticism around overtaking/close racing.
F1 is and should continue to be the pinnacle of four-wheeled racing for some time.
