Different Business Battle Plans
For many horse racing fans, the allure of the sport goes beyond spectatorship and the desire to get more involved becomes increasingly appealing. Being a trainer or jockey is obviously the most guaranteed chance of making a career in horseracing sustainable, but there are some other ways of getting into the industry that can exceed expectations if things fall into place.
Many think that racehorse ownership is only for the wealthy men and women of the world that are looking to gain enjoyment on their days off from the business world, but that is not necessarily true. In the modern day, it has become easier and easier for anyone wanting to own a racehorse, with the use of syndicates giving the average fan a chance of experiencing memorable moments of their own.
Syndicates bring people together to own a certain percentage of a horse, with the part owner only forking out a fraction of the normal costs involved, all the while enjoying all of the privileges of the wealthier owners.
Although making money from owning a racehorse is unpredictable, with a little luck you and your fellow syndicate members might just come across a horse of top-class talent that could potentially bring in decent prizemoney, all the while bringing you to places you could never have dreamed of.
Buying & Selling Horses
Buy low, sell high. It is the golden rule behind all investment businesses, and the buying and selling of horses is no different. There are many people involved in the racing industry that will attempt to buy younger horses from the many horse sales throughout the year, and try to sell them for a profit at a later stage.
This system is used a lot in Ireland in particular with the use of the Point-to-Point races. Point-to-Point races are amateur races for young horses, and if you are lucky enough to find a horse capable of winning one, some Point-to-Point winners have fetched up to £500,000 in the past!
Similar to the buying and selling of horses mentioned above, pin hooking is a system of buying foals at a very young age, rearing them through the early stages of life, before selling them for a much bigger price than three or four-year-old horses.
The use of pin hooking is a much more time-consuming way of trying to make money from racehorses, but the fact that foals are usually picked up at a reasonable price and can be sold at a decent price if they grow into nice equine specimens gives pin-hookers a good chance of making some profit.
Money, time, and luck. These are the three essential components of any potential money-making business plan, and in horseracing, this is particularly true. As we have discussed, it is an arduous task to make money from the horseracing industry, but one thing you are guaranteed is the exhilarating feeling that accompanies the thrills and spills of seeing your horse on the track.