hi mate i have previously had sponsors, its not easy to attract there attention but here is a couple of things that i did which helped... ALOT! lol.
try and get a deal with a local sticker company where you advertise them and they provide the stickers for your kart (to incorporate any other companys who will pay you for the space!)
when you have got someone like that it makes companys more interested because they know that you will sort stickers out (no time taken up from their company)
sort out a racing CV sell your self as if you were trying to get a job... take it to local companys in person, then phone them up a week later asking if they have read it keep you in their heads! try and set up a website that makes you look good (its extra advertising space for them)
hope this helps... sponsorship is the only reason i was able to race while a student!
good luck!!
p.s. expect to find out many new ways of saying f**k off lol
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