Regardless of production costs. purchase price of a yearling. For the average person it will cost between $20-$30,000 to get the horse into the starting gate for the first time. Considering most horses don’t make their first start until late in their 2 year old year, more like early 3 year old if lucky. Expect the expenses to be closer to $30gs.
I could do it a lot cheaper because I had a farm that was big enough to properly train off of. I took in some outside horses to off set a small percentage of my costs. Mainly to have enough horses to get the attention, make it worthwhile to get and keep freelance riders. I couldn’t ride them all. But what people are willing to pay really didn’t make it worthwhile.
Only the horses that I felt showed enough race talent to open in MSW, maiden special weight went to the track. Paying training expenses on horses that in all likelihood will open, be low level claimers is a fools game a waste of money. If they show anything in their first couple of races they will get claimed by smart money. One’s that don’t get claimed will be hard pressed to win a race at the level they are running. Couple months later dropped to bottom level with more money thrown after bad. What ever they win will never cover the expenses to get that win. Not even close. Even if the horse gets claimed.
People see some hard knocking claimers that have won, $100-200g and say look at this one. Well ya, but look how many times it was claimed. It didn’t win much money if any for any one person.
When my horses shipped to the track they were ready to roll. They had plenty of works at my farm with no “track” a big field with good turf. The trainer just had to give about 2 weeks legging up on the dirt and work them 3. A bit more gate schooling and they were ready to brake. I had a mock gate to work with at the farm.
I didn’t have the money to risk sending a lot of horses to the track. But we did all right with the ones I did. Broke even at best over all. But no one should get into racing expecting to make money. HOPE to break even at best. Hope to get close to breaking even at the end of the day. Hope they win at least one race.
The important thing is to have fun losing some money. Cherish the win, cherish the feeling of your horse coming down the stretch in the hunt. With a good chance of winning even if it doesn’t. Cut your loses and retire the horse if it doesn’t do any of this fairly often.
IMO and experience not matter how much money you have into a horse before it gets to the track. Do the math. If it only shows limited ability in its early training. More times than not that is best it will ever be. Spending $30,000++ and have it claimed for $10,000 is bad money management. Or just give me $10,000 and you will still be $20,000 ahead.