Choosing a Syndicate
If you are looking to join a racing syndicate, you should always consider some or all of the following:
What you want out of your ownership?
This is probably the most important question you should ask yourself. Owners become involved in syndicates for many different reasons:
- For days out at the races.
- To meet a new set of friends/aquaintences.
- For gambling purposes.
- To be involved in a racehorse's career.
- For the stable visits and watching home gallops.
- Simply to enjoy being involved.
- To win races and potentially realise a profit from the investment.
Ask yourself what you really want from your involvement. If you can boil it down to one or two primary requirements, you stand a much better chance of matching those requirements to a syndicate. Read the 'Syndicate Details' for each syndicate to determine if they are right for you.
You should have a clear idea of what you can afford.
The cost of buying a racehorse can range from £800 to £500,000. Keeping a racehorse in training can cost between £18,000 to £45,000 a year depending on the trainer's costs and the type of racehorse you choose (Flat, National Hunt, Dual purpose etc..). You should be realistic about what you can afford and therefore the level of involvement that investment brings. Don't expect a VIP service if you own a small share, by the same token, make sure you're syndicate agreement gives you everything you need if you are looking at owning a leg (25%) or more.
First time owners often get shocked when the trainers invoices roll in every month, and are up and down depending on transport, shoeing, physio, vets fees etc.. If you need to know exactly what you will be paying out each month, go for a syndicate with set monthly fees, rather than variable training fees.
On a strict budget? Then a small-share, one-off fee paying syndicate, or Racing Club is probably the way to go, especially if you are wanting to test the water and find out if racehorse ownership is for you.
Also bear in mind that when you join a syndicate, most will need you to pay VAT, or part VAT (as they are providing a service). Some may not, if they have set up the syndicate as a group of friends, but you should be clear about whether the fees you will pay include or exclude that extra 20%.
Where your horse is trained
If you wish to get to the races and watch your racehorse compete, then its always sensible to work out where your horse could be racing. Don't expect a horse trained in Scotland to run too many times at Brighton, and similarly, you can't expect a 65 rated handicapper to be racing at Royal Ascot. We publish the trainer for every horse in the horse's profile - along with where they are based - they will tend to race their horses at the tracks located near to their stables.
The only time where trainer location doesn't naturally lead into where a horse will run is if the horse is high class - which could mean that they have to run where the races are for their grade. But this is a nice problem to have!
The type of trainer
Most trainers hold dual purpose licences - which means they can run your horse on the flat or over hurdles or chase fences. However, there are trainers who do specialise in one code or another. When choosing a trainer, try to find one which is fairly local to you, so you can visit your horse at the stables.
There are good trainers, and moderate trainers - to view how they compare to others, simply click on their statistics in the horse profile page. Trainers can have good and bad years, but an average win rate of 10% (winners to runners) is an acceptable level of success. Some trainers will specialise in certain types of horses - such as sprinters, chasers or 2YO's - choose a trainer which will do best with the type of horse you are interested in owning.
It is worth remembering that a top class trainer will charge top-class prices, and vice versa.
The type of racehorse
Choose a racehorse which will fulfil your needs - so if you wish to see plenty of racing, choose a horse which has already run, so it has proven it can stand the rigours of racing. Sprinters tend to run far more often than middle-distance horses, and hurdlers will tend to race more frequently than chasers.
Many Owners will choose to buy into an unraced horse - such as a 2YO for the flat, or a 3YO/4YO for National Hunt. This may be living the dream - but you may have to face many months, if not years of waiting for them to go racing. Bear in mind that the training costs continue each month even if the horse is not racing.
We provide an online system where you can contact the Syndicate Managers to get further information. This is an excellent method of firstly, getting the possible syndicates down to a manageable number, and then asking specific questions to each syndicate. All of the syndicates featured on SyndicateManager.com commit to replying to you within three working days.