Hi Everyone
I recently registered on Talking Horses following a recommendation from Krizon, who I came across on another forum.
Growing up in Cheltenham, I've always been a huge racing fan - particularly the jumps. Although I enjoy a bet, I am not a massive gambler and my love of the game really stems from my admiration of great horses, jockeys and trainers.
I have always viewed owning a racehorse to be the ultimate way of extending my interest but have never really been in a financial position to fulfil this dream. I have had a small interest in various different syndicate/racing clubs but have always felt somewhat let down by the level of involvement offered.
Although I have been working in the City for the past 8 years, a new addition to the family caused me to reassess my lifestyle and has seen me return to the Cotswolds. In an attempt to combine some of my business skills with my passion for racing, I have recently set-up a new racehorse ownership venture.
Racing Republic is an attempt to provide people with the sort of experience that I was looking for when joining a syndicate or racing club - real involvement for a moderate financial outlay. However, despite investing significant money in our website and other advertising (Racing Post, Racing Ahead etc) I have received only limited interest.
Admittedly our main structures are only due to launch in October. I have retained the services of bloodstock agent Peter Doyle, and the aim is to get together groups of 20 people to share in the ownership of two horses. There will be structures for both NH and Flat enthusiasts and the idea will be for the syndicates to see their horses bought at the sales and then to race them over 2 seasons. Rough costs are a capital sum of £3500 followed by monthly payments of £195.
Also, I have launched an introductory syndicate to run over the next six months. The Dream Debut Syndicate offers 100 shares at £500 each and will hold an interest in three horses. As a loss leader, to get our name and colours on the course, I would think that this represents great value. However, although the interest has been steady, the flood of orders I was expecting (hoping for!) just hasn't materialised.
Although not wanting to use this forum as a shop front I was wondering if members would mind sharing their thoughts on syndicate operations in general, their experiences of racehorse ownership and any feedback for me on the Racing Republic (
www.racingrepublic.co.uk) concept.
Apologies, for the rambling nature of this first entry and look forward to hearing your thoughts.
He was looking as dapper as ever too. Despite the cold weather (is it really 1st June next week?) it was a great evening.
