The Thoroughbred industry welcomes new owners.
While participating in Thoroughbred racing and breeding offers an exciting opportunity, it is nonetheless a speculative opportunity. The game offers high risk, high emotion and high excitement. Money is won and lost, but no better time is had in the process.
Take a few moments to review these materials and to familiarize yourself with what Thoroughbred Owners and Breeders Association (TOBA) believes are basic pre-participation considerations. The place to start is with the recognition that horses are not machines; they cannot be programmed, nor do they perform on command. They are often temperamental and unpredictable. Like a child, a horse does not always live up to one's expectations. As good parents are prepared to deal with the ups and downs and the emotional and financial considerations of parenthood so too are successful owners!
How does one become a successful owner? TOBA believes it begins with thorough preparation and continuing education, not to mention common sense. Every owner can become a knowledgeable and successful manager if he or she is willing to take the time to learn how to do something more about Thoroughbred ownership than write the monthly support check. If you are serious about participating in the Thoroughbred industry and becoming a new owner, consider these suggestions:
Get Familiar with the Game
Begin by reading or visiting the web sites of industry and trade publications such as: The Blood-Horse, Daily Racing Form (read more about DRF's Horsemen's Products) and Thoroughbred Times. Also, many farms and racetracks have informative web sites.
Attend the races. Attend the sales. Observe owners, trainers, consignors, buyers, veterinarians and other professionals in action.
Contact the owners and breeders organization in your state. Inquire about services offered and membership benefits. Become involved with the organizations and make personal contact with local horsemen.
Ask owners, trainers and other industry insiders if you may speak with them regarding how you might get involved in the business. TOBA believes that you will be pleasantly surprised at the number of insiders who are willing to assist those seriously considering investing in the industry, regardless of the level of investment.
Locate a consultant or more experienced owner who is willing to serve as a mentor. Be discriminating, and in the case of professional consultants, check references. Remember, the objective here is to identify someone you can trust. Listen to the advice given, but don't feel obligated to follow it, as ultimately every decision you make should be your own.
Participate in industry-sponsored events and educational programs.