6 of 12
BACKNEXT
Robert Prevost - No end in sight
Founder and CEO, RacingSchools.com
Cave Creek, Ariz.

I own a company involved in the motor sports entertainment business that relies heavily on consumer confidence and discretionary income. We've seen our monthly revenues drop almost 80% since July 2007, and I do not forecast any significant improvement until well into 2010. I believe that the main reason for the economic downturn is less a result of the downturn in the housing market then the outrageous increase in energy costs.

Those increases continue to ripple through every facet of the economy, at every socioeconomic level. Our typical customer was a blue-collar worker using his or her credit card to pay for the experience of a lifetime - driving a real NASCAR stockcar. Those days are gone for now. We have had to lay off four of our six employees, and I have not taken any salary from the company for eight months in an attempt to lower our monthly expenses.

NEXT: Linda Seidel - Hitting rock bottom

LAST UPDATE: Oct 04 2008 | 2:03 PM ET
Sponsored by
More Galleries
7 hot businesses to start now It's hard to predict what businesses will take off, but these startup ideas have been drawing tons of interest from entrepreneurs and their customers on Thumbtack.com. More
How will a minimum wage hike hit businesses? Thirteen states increased the minimum wage on Jan. 1, and President Obama supports raising the federal rate to $10.10. 4 small business owners weigh in on how an increase would affect them. More
America's favorite businesses From a science camp for girls to a kombucha brewer, communities around the country voted on their favorite small businesses. These 12 came out on top, each scoring a $250,000 grant from Chase and a trip to Google's headquarters. More
Sponsors

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.