Eventing Syndicate

[Sophieee994]

I’m looking at setting up a syndicate for a young event horse and looking to gauge levels of interest or possible ideas from potentially interested parties.

Young horse so unproven but has all the right qualities to turn into something special. 4 1/2 years old and been left to mature with a really positive attitude and has taken all of his ground work well. If we can set up the syndicate, he’ll go into training in January within the South West and be aiming for 5 year old championships in September if he hits the mark.

Not looking at selling shares but a low monthly cost to be involved with a small number of like minded people who want to go eventing with a vested interest. There’ll be owners days, training days and naturally days out at events plus WhatsApp group for updates etc.

Limited number of spots of 15-20 people depending on what would be considered affordable and any feedback received.

Probably looking at the impossible but could be really good fun and an opportunity to be involved.

 

[TheMule]

I think there probably is a market for a racing-style large syndicate where the buy in cost is very low- I would buy into something like that at a low price point, if a horse I liked with a rider I rated. It will probably take a fair amount of admin and set-up cost but I think it could work

 

[Sophieee994]

I think there probably is a market for a racing-style large syndicate where the buy in cost is very low- I would buy into something like that at a low price point, if a horse I liked with a rider I rated. It will probably take a fair amount of admin and set-up cost but I think it could work

Thank you for feedback. This was my thoughts as there are alot of racing syndicates around. Happy with the admin input and have done a lot of research on what’s required before doing a bit of market research. Would you rather a low one off cost e.g yearly but more members which would mean less chance of event tickets or limited spaces on yard/training visits or monthly capped cost with fewer members?

 

[FionaMc]

I think there probably is a market for a racing-style large syndicate where the buy in cost is very low- I would buy into something like that at a low price point, if a horse I liked with a rider I rated. It will probably take a fair amount of admin and set-up cost but I think it could work

100% this - in fact I was trying to find similar just a couple of weeks ago as I would much prefer to support and follow an eventer. But I would definitely need it to be the kind of cost the big racing clubs are - rather than £100s a month. I wouldn’t mind a monthly fee, just not a big ‘un.

 

[TheMule]

Thank you for feedback. This was my thoughts as there are alot of racing syndicates around. Happy with the admin input and have done a lot of research on what’s required before doing a bit of market research. Would you rather a low one off cost e.g yearly but more members which would mean less chance of event tickets or limited spaces on yard/training visits or monthly capped cost with fewer members?

I think it would be easier to admin with an annual fee, and I'd be happy to pay that. The racing lot keep their horses well insured which I think would be a smart idea as you need to think about what would happen to your members if the horse ended up injured/ PTS

 

[Sophieee994]

I think it would be easier to admin with an annual fee, and I'd be happy to pay that. The racing lot keep their horses well insured which I think would be a smart idea as you need to think about what would happen to your members if the horse ended up injured/ PTS

Racehorses are rarely insured (racing background) unless very high value. Should the horse become deceased or injured for that season, the annual membership would run until the end of the year paid for and you’d have a decision to then renew or not. Unlike racehorses, eventers aren’t quite as “replaceable”.

Again, your feedback is very appreciated. I feel a social media page coming on dedicated to an annual subscription syndicate.

 

[Sophieee994]

100% this - in fact I was trying to find similar just a couple of weeks ago as I would much prefer to support and follow an eventer. But I would definitely need it to be the kind of cost the big racing clubs are - rather than £100s a month. I wouldn’t mind a monthly fee, just not a big ‘un.

Thank you. I think I’ll be doing some maths and possibly creating a page dedicated to this style syndicate.

 

[TheMule]

Racehorses are rarely insured (racing background) unless very high value. Should the horse become deceased or injured for that season, the annual membership would run until the end of the year paid for and you’d have a decision to then renew or not. Unlike racehorses, eventers aren’t quite as “replaceable”.

Again, your feedback is very appreciated. I feel a social media page coming on dedicated to an annual subscription syndicate.

I suggest you do a bit more research into the popular racing syndicates. Owners Group, for example, insure their horses and then if they lose one the owners are paid out from the insurance money. Of course that doesn’t cover running costs, but it feels like at least you get something back. If their horses are injured they generally extend the term for a period of time for free

 

[Sophieee994]

I suggest you do a bit more research into the popular racing syndicates. Owners Group, for example, insure their horses and then if they lose one the owners are paid out from the insurance money. Of course that doesn’t cover running costs, but it feels like at least you get something back. If their horses are injured they generally extend the term for a period of time for free

This Syndicate isn’t investment based so no financial gains are to be had from it. More of a get involved and support a young horse in his eventing career. Who knows where he could take us!

 

[TheMule]

This Syndicate isn’t investment based so no financial gains are to be had from it. More of a get involved and support a young horse in his eventing career. Who knows where he could take us!

I understand that, but I'd be pretty annoyed if I paid an annual membership for something and it went lame in the first month or coliced and died. Maybe monthly is the way to go.

 

[Sophieee994]

I understand that, but I'd be pretty annoyed if I paid an annual membership for something and it went lame in the first month or coliced and died. Maybe monthly is the way to go.

Maybe so. It is still aimed to be a low cost interest. But then if your horse dies on the 2nd of the month and you’ve paid on the 1st for example, it’s a much the same situation.

 

[I'm Dun]

Maybe so. It is still aimed to be a low cost interest. But then if your horse dies on the 2nd of the month and you’ve paid on the 1st for example, it’s a much the same situation.

A few week is a lot more palatable to most people than a few months. I suspect whether you like it or not, legally, you would be obligated to refund.

 

[Glitter is Fun]

who knows how far he could take us

I understand you are just exploring the idea at the moment but you may need to give a few more details before you get meaningful figures for the amount that people would be prepared to pay.
Who owns and trains the horse & who will be riding him, would make a huge difference to 'how far he could take us'. People would pay more for open days if they were to the yard of a "known face" too.
You don't want to put exact details on here obviously but experience level would be useful information.

Another question to think about..

If we can set up the syndicate, he’ll go into training in January

This sound as if all the finance would come from the syndicate? If someone backs out or bad-debts you what happens then? Is additional funding available or would you need to give up? What happens to the other members then?