He was known for employing veteran NASCAR drivers like Bobby Allison, Charlie Glotzbach, Bobby Isaac, Sam McQuagg, and Dave Marcis.[1] Krauskopf has seen his drivers participate in 345 races with 43 victories (first victory at the 1968 Columbia 200 – last victory at the 1976 Dixie 500), 171 finishes in the "top five," and 214 finishes in the "top ten.[1]" These drivers also managed to lead 15,705 laps out of 90,001 while finishing 12th place on average.[1] Krauskopf also become one of the first millionaires in NASCAR history by collecting a grand total of $1,225,994 in his 12-year career ($6,164,305.91 when adjusted for inflation) while his employees drove 91,890.6 miles (147,883.6 km) of racing action.[1] He would also see his drivers go to the pole position 69 times.[1] A major part of Krauskopf's career would be Bobby Isaac's championship victory during the 1970 NASCAR Winston Cup Season.[6]
The constant changes of NASCAR in the 1970s would render Krauskopf's team uncompetitive, and mid-way through the 1976 race season he put his racing team and its assets (shops, cars, etc.) on the market and then sold it to coal mining magnate Jim Stacy.[7] As a result, he would constantly be at odds with NASCAR officials.[7]
Krauskopf retired in 1980 as chairman and owner of K&K Insurance Group. He sold his ownership share of the company in 1984.[2] He died in 1986.[2]