How much does it cost in ongoing charges to keep a horse per year?
On a worse case basis, we advise our clients to budget $11.54 per day ($80.76 per week), ($350 per month) per 10% share ($4,200 per annum) to have a horse trained with a Leading Trainer at a Sydney or Melbourne Metropolitan Racetrack.
Should a client purchase a 5% share they should budget $6.00 per day ($42.00 per week), ($208 per month) per 5% share ($2,496 per annum).
These budgeted costs make no allowance for any prizemoney won.
What does this $11.54 per day ($80.76 per week) per 10% share cover?
Everything: Training Fees, Agistment, Veterinary Costs, Farriers, Transport, Raceday Costs, Strappers, Swimming Pool Fees, Track Fees, Gear Hire, Supplements, Chiropractors, etc.
Exception: The only things not included in the above costs structure is a situation we hope needs to be encountered. Race nomination / Acceptance fees for Major Group Races. e.g. Golden Slipper, Derby, Cox Plate, Melbourne Cup, etc.
This would be a nice problem to have as only horses whom have performed with distinction on the racetrack can compete in these events and should your horse be eligible for such races it would have secured significant prizemoney to offset against this minor expenditure.
How did Dynamic Syndications budget $11.54 per day ($80.76 per week) as the figure?
Simple Maths: Nobody can ever give you an exact figure how much your horse will cost over 12 months. It’s impossible to anticipate based on the fact we do not know in advance exactly how many days the horse will be in work, in the spelling paddock, sets of shoes, float trips, race starts, etc, etc.
But what we do know is the average horse costs between $38,000 - $42,000 per annum.
Because we do not want to see any client in financial hardship relating to ongoing costs, we advise our clients that they should budget a little extra to cover any unforeseen circumstance.
Therefore we suggest that you should budget $42,000 a year for your individual horse.
It becomes simple maths from this point:
$42,000 per year divided by 10 owners = $4,200 per owner
$4,200 per owner divided by 52 weeks = $80.76 per week
$80.76 per owner per week divided by 7 days = $11.54 per day
Is it a payment plan? If not, how do I pay this amount?
No - It is not a payment plan. You will be sent an account for 10% of what was spent on your horse monthly in arrears.
The horse will be in the spelling paddock approximately 5 months a year.
When out spelling, 100% of the horse would cost approximately $1,200 per month. Therefore you would receive an account for 10% of that total monthly amount.
In this example, that would be $120 per month (10% of the account).
When the horse is in the racing stable (which is approximately 7 months a year), the average monthly account is approximately $3,900 per month.
Therefore you would receive an account for 10%. In this example that would be $390 for the month.
This figure can swing between $3,200 - $5,200 depending what your horse did during the month, how many times it saw the vet, had new shoes, race starts etc.
However, a fair averaged account over the total 7 month period in the stable is $390.
So in this example we calculated:
5 months spelling @ $120 per month average = $600
7 months training @ $390 per month average = $3,330
Our Budgeted spend per year = $4,200 divided by 52 weeks = $80.76 per week
Our Actual Total spend per year = $3,930 divided by 52 weeks = $75.57 per week
Total Cash Surplus = $270
Assumption: Our figures have been calculated on your horse winning zero prizemoney and represents a worse case basis.
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