There's a whole lot more to running a racehorse syndication company than selling shares in a youngster off the back of an auction sale. That's just the beginning of the process.
You get to meet lots of people from all walks of life and every days there is communication by way of email, text & phone. I really enjoy getting to know people.
Regularly I'm in touch with the trainers along with the agistment farm & horse breaker - it's great to follow the progression of the young stock, from that raw item to the educated & polished-up racetrack performer.
Every week - Wednesday for me - I write a personalised Newsletter to each of the Challenge Syndicates. The members can't get enough of where their horse is at.
Communication includes reports from the track and jump outs. When it comes to trial time I send out the field the day before and on trial day meet with syndicate members who attend, then provide a report (including photos) to the entire syndicate on my return to the office.
Raceday begins with a morning email to the Syndicate. Our meeting place is normally the pre-race drinks, then there is always a birdcage debrief - win, lose or draw. Again, on my return to the home office, I provide a debrief to the entire Syndicate.
Of course you can't dodge the paperwork! At commencement there is documentation to get signed by every Syndicate member. Every month there is upkeep to record and bills to be paid.
If the Syndicate is having success, prize money is distributed when it reaches a level to justify the administrative effort. It's always nice to be returning funds to the participants.
Then at the conclusion of the Syndicate's life the filly/mare (Challenge has a point of difference of only syndicating female stock) needs to be sold privately or by public auction or through an online selling platform like GavelHouse. If it has been a lease syndicate, then the filly is returned to its' owner.
Race horse Syndication is not for the faint-hearted; there are plenty of 'challenges' along the way (thus why I choose that very name for my business), but it's varied, interesting & certainly rewarding.
