Bloodstock & Breeding
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I've posted on here a couple of times before re Irish NH syndicates and have a few Betfair members. Following the recent success of our horse, Raise The Beat (Winning Ways Enigma syndicate), in a winners bumper at Naas I thought it would be a good time to launch a new NH syndicate.
We have now had three winners from just four runners, the others being Brave Inca and Kimberlite King. We have two more unraced horses, one by Definite Article and the other by Oscar. Both those syndicates are full and we hope to reach the racecourse with them in spring.
The new syndicate will buy a horse out of a bumper/point to point or at the sales. We've bought all our horses at the Goffs Land Rover and Tattersalls Derby sales but buying out of a bumper/point to point also has its advantages and there is some great value out there at the moment. 10% shares are available at cost, no commission or hidden costs. We normally spend around €25k on our horses so when you add in VAT/insurance, it's about €29k or €2,900 a share. If we spend less, you pay less. Ongoing training is at cost again, with a small defined management fee. Once I get five or six new members on board, we can buy a horse.
I hope this might be of interest and if you have any queries, just let me know.
We have now had three winners from just four runners, the others being Brave Inca and Kimberlite King. We have two more unraced horses, one by Definite Article and the other by Oscar. Both those syndicates are full and we hope to reach the racecourse with them in spring.
The new syndicate will buy a horse out of a bumper/point to point or at the sales. We've bought all our horses at the Goffs Land Rover and Tattersalls Derby sales but buying out of a bumper/point to point also has its advantages and there is some great value out there at the moment. 10% shares are available at cost, no commission or hidden costs. We normally spend around €25k on our horses so when you add in VAT/insurance, it's about €29k or €2,900 a share. If we spend less, you pay less. Ongoing training is at cost again, with a small defined management fee. Once I get five or six new members on board, we can buy a horse.
I hope this might be of interest and if you have any queries, just let me know.
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IM ASSUMING ALL RACING TO BE DONE IN IRELAND? I WOULD BE INTD HOWEVER IM IN SCOTLAND
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Hi Williew99, the horses are based in Ireland so that's where they will race unless there are opportunities identified in the UK for them. I have members living in Belgium and Wales who are happy with having their horses trained in Ireland and the stable visits are planned well in advance so they can attend or for the races if we are running. It doesn't always work out so it is not ideal but not a stumbling block if you want to participate for a relatively small cost.
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whats a small defined management fee ?
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why charge vat , wouldnt the syndicate be vat registered ?
who is the trainer what would the trainer charge ? cheers |
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Hi Ace,
The management fee is €450 per share per annum. I prefer to tell people what I take out of it rather than charge a huge mark-up on buying the horse or an all-in training fee, which doesn't drop when your horse is on a 3 month break. The latter two methods are ways of extracting profit from syndicate members. I'm at least up-front and tell you what I make out of it. But I also pay for a full share rather than take one off the syndicate for free. So my goals are aligned with yours. We pay VAT on horse purchase. The rules on VAT for owners is different in Ireland than UK. Colm Murphy trains all our horses and the monthly in-training costs vary by month, depending on the requirements of each horse. Members pay the actual costs rather than an all-in, which I find is cheaper. |