Our Approach “Highly Professional at a Much Lower Cost” – “Partnerships with No Racing Manager’s Fees”
Jon and Jacqueline Hughes have been owners, in partnerships and syndicates, for eight years with a wide cross-section of trainers and racing managers. It has been great fun but also a most interesting learning experience, summarised in “The Good, The Bad and The Ugly of Partnerships”. We’ve also organised a number of partnerships ourselves for friends and other owners. The result of this immersion in ownership has led to the creation of Owners for Owners. We know we can run a highly professional setup at much lower cost than is usually the case.
- Close involvement with co-owners.
- Full participation in all key decisions.
- Regular contact with the trainer.
- Open access to visit the yard.
- Enjoyment of convivial times together.
- The horse running in your colours.
- Administration and VAT reclaim done by Owners for Owners.
Minimising the Costs
- Purchase the horse with no mark-ups.
- Agree and stick to a budget.
- No expensive racing manager’s fees.
- Monitor all costs and report on them regularly.
- Full transparency of costs at all times.
- No hidden margins or kick-backs.
- Ensure lower out of training daily rates.
- Do everything possible to build value for sale.
- Retire any horse that is under-performing.
- £900 in total per horse is the maximum total cost. This equates to £150 per owner, per year.
- Be realistic and pragmatic about ownership.
- Recognise from the start that not all horses are racehorses.
- Be prepared to cut losses (as painful as it is).
- Spread the risk with like-minded people.
- Link up with them to achieve these aims.
By working together, in a friendly and collaborative manner, we can all enjoy the owning and racing experience to the maximum extent.