Syndication for the "average" person

[danceronice]

@fooler;7040515

At the 2005 annual USEA meeting, one of the side meetings/classes was rider funding. John Nunn said don’t come to him asking for money. Come to him with an idea/plan of how his funding of you will ultimately benefit him.

He loved the barely teen aged boy who came in with a bucket cover that promoted BofB. The kid told Nunn he would have the covered bucket prominent at every competition if Nunn would provide some backing. No, the kid didn’t do that much, BUT the kid understood it is a 2-way street. The kid had a plan to recognize BofB’s support before he asked for the support.

This. I don’t know how well it would work (I know it wouldn’t be permitted at the Olympics, but…well, that’s the Olympics) but for dance a lot of gentlemen with sponsors wear ‘sponsor tags’–discrete patches on their suit jacket or the waistband of their trousers with the name/logo of the company sponsoring them. Everyone at a competition sees it. It’s subtle, but it keeps the name of the sponsor right there. Where can you put a sponsor’s name that people will see it?

When you use the word “syndication”, though, I assume “part ownership.” The only ones I’ve ever looked into are for racing, and they’re really clear on what you get–part ownership of the horse and a cut of the money for a set fee you pay towards upkeep, and there’s a lot of paperwork defining who exactly manages things and makes decisions about it.

[emirae1091]

[QUOTE=pcwertb;7040759]
I don’t have the funding to fully support them on this journey, but as I own a mare I hope to offer eggs or embryos to sponsors and or syndicate owners.[/QUOTE]

Off topic, but I read eggs and was thinking like chickens laying eggs, and was really confused! I need some coffee. :no:

[pcwertb]

Not the kind of eggs I was talking about

[Jealoushe]

I think you need to do more than promote Bug, as lovely as he may be. Reality in horse sports is that your golden horse may go lame, may go sour, etc etc. You should have owners or syndicate share holders that want to back YOU, not your horse. It is better to promote yourself, what you have done, then to make it seem like the horse is the star and you are just along for the ride. They may just think you have a special horse but with any rider he would be the same. I think the owners need to buy into the riders.

[SuperEventer]

That’s an excellent point. I do have a lot of other horses in the pipeline. The problem is, I get OTTBs which can take a bit to bring along, or I acquire the “difficult” horse that no one else wants. I get them going well, but I still have to bring them through the ranks, and I am not one to push them along quickly just to make a name for myself.
One idea is to syndicate ownership for Bug along with acquiring a Training/Prelim horse to bring along so the syndicate is two horses and people get to be involved with two horses. I don’t have anything going Training/Prelim yet, so I would have to use syndicate money to purchase something going. I know a lot of the BNR’s are doing this, and it makes sense. The Team wants to see that we have a string…
I am still just tossing around ideas. Trying to figure out if it’s worth doing syndication at all.
Again, I appreciate everyone’s insight. It’s been very helpful.

[JER]

[QUOTE=SuperEventer;7041339]
I don’t have anything going Training/Prelim yet, so I would have to use syndicate money to purchase something going. I know a lot of the BNR’s are doing this, and it makes sense. The Team wants to see that we have a string…[/QUOTE]

The ‘Team’ might be your ambition but you are nowhere near there yet. Your record shows that you’ve completed 3 Advanced HTs and one CIC***, and have some letter results at other attempts. You had (or have, can’t tell) a second horse who was unsuccessful at Prelim.

It sounds like you work with good people but I’m worried about your sense of reality here. Don’t worry about ‘the team.’ Don’t worry about ‘strings.’ You need to become a solid UL rider first.

Once again, I know I’m not saying what you want to hear. I’m saying it because if, as a prospective sponsor, I read that you’re making plans around what ‘the team’ wants, then I look at your competition record, it doesn’t give me any confidence that you have a realistic vision of who you are or of how to get where you want to go. Why should I invest in that?

If you really want to kickstart funding for your career, sell Bug and use the proceeds to get a good T/P horse, a packer type who you can move up on and get some good results/experience, and keep the leftover funds as a cushion so that you have some savings.

If you read that and say ‘Oh, no, I’ll never sell Bug!’, then you need to think about what it means to be a professional horse person. Countless BNRs have funded their careers by selling their first big-time horse. It’s not a lack of love for the horse, it’s just pragmatism – you will have many Bugs over the course of your career and you have to see them in that context.

[Backstage]

[QUOTE=SuperEventer;7041339]
That’s an excellent point. I do have a lot of other horses in the pipeline. The problem is, I get OTTBs which can take a bit to bring along, or I acquire the “difficult” horse that no one else wants. I get them going well, but I still have to bring them through the ranks, and I am not one to push them along quickly just to make a name for myself.
One idea is to syndicate ownership for Bug along with acquiring a Training/Prelim horse to bring along so the syndicate is two horses and people get to be involved with two horses. I don’t have anything going Training/Prelim yet, so I would have to use syndicate money to purchase something going. I know a lot of the BNR’s are doing this, and it makes sense. The Team wants to see that we have a string…
I am still just tossing around ideas. Trying to figure out if it’s worth doing syndication at all.
Again, I appreciate everyone’s insight. It’s been very helpful.[/QUOTE]

I think you should definitely consider putting together a 2-for-1 syndication deal. The second horse could be a talented youngster, or a re-sale project. I actually think the latter might be a very good idea, it gives the supporters a chance to “make” money down the line. Of course, the parameters relating to the sale horse will have to be clearly defined.

Personally, I quite like the idea of syndication and will seriously consider it once I’m a bit more established. That said, I’m likely to either support a rider I know well or a horse that I feel has real potential to make a team. Perhaps its because my country (Canada) has a real dearth of truly competitive international horses, but the latter component is fairly important to me.

[RAyers]

I hope you, Supereventer, are not taking anything personally here. Folks are giving you good, solid advice. I heard much the same from the small business incubator with whom we work and from our attorneys.

You need to hear the hard things. Attention to those are the details that separate the successful business from the failures. The willingness to sell your horse is a BIG thing. You are the business, not the horse. You need to start looking at things that way, just like almost every top rider around (RF Amber Eyes). It is about money and trading up, not about saying I took one to the top. Leave that to the few amateurs.

I agree, when a person acts too much in the background, e.g. “it’s all about the horse.” the big implication is the horse is great and the rider is nobody who is along for the ride. The similarity was my advisor telling me that I needed to start acting like a CEO rather than a researcher. YOU need to step up and you can do it without ego (see Payton Manning (NFL), Tim Duncan (NBA), Sydney Crosby (NHL), Sebastian Vettel (F1)). They are all greats but also humble while promoting themselves.

And, I agree, if you are doing things primarily focused on “what the Team wants” you are absolutely limiting yourself. I would suggest being a good horseman first, e.g. Gina Miles and then let “the Team” make its own choices given that it has its own failing business model.

[phoenixrises]

@RAyers;7041465

I agree, when a person acts too much in the background, e.g. “it’s all about the horse.” the big implication is the horse is great and the rider is nobody who is along for the ride. The similarity was my advisor telling me that I needed to start acting like a CEO rather than a researcher. YOU need to step up and you can do it without ego (see Payton Manning (NFL), Tim Duncan (NBA), Sydney Crosby (NHL), Sebastian Vettel (F1)). They are all greats but also humble while promoting themselves.

THIS! But I’d also like to thank you for pointing out Vettel! Personally I’m a Rosberg fan, if my daughter had been a boy she would have been a Nico.

[FairWeather]

[QUOTE=chunky munky;7039414]
Will Coleman. Nice kid, talented rider. Family has owned some of the most beautiful horse farms in VA. He may be now looking to get people to buy horses, form syndicates, etc., but up to this point has had very strong family financial support. Don’t think I would look there for ground roots advice.[/QUOTE]

Not really true at all, minus the beautiful farms. Will rents his barn from his family, and they do not fund his horses. Common misconception, but completely off the mark.
On top of which, the guy is insightful and a good horseman who happily shares his thoughts that are pertinent to today’s eventing environment.

[RAyers]

Oh, I root for Nico too. I was a fan of his dad, Keke for years. And, I have a Fernando Alonso t-shirt from Ferrari.

[pheasantknoll]

I am not sure if this has been mentioned already, but most lesser known riders have to sell a bunch of horses to fund their careers. And they are not selling the cast-offs. They are selling their best, most talented horses because they need the money.

You getting to the upper levels might not happen on this horse. It is an ugly reality for many professional riders. I cannot think many people will want to do a syndication on a rider without a long list of successful rides at 3* and above.

PKN

[poltroon]

Several international riders have funded their trips to Rolex with the plan to run it and sell the horse in the States afterwards.

It’s not a pleasant reality, but this is part of deciding what niche is the right one for you. There is no right answer.

[NMK]

Also, I would take a good hard look at a business plan with an upper level horse. 30K is not enough. You can’t do it all here in the US/Canada with only one 4*. Write it all down, and be accountable for it every step of the way. Transparency is key for a syndicate to be successful.

[EWim15]

[QUOTE=pheasantknoll;7041896]
I am not sure if this has been mentioned already, but most lesser known riders have to sell a bunch of horses to fund their careers. And they are not selling the cast-offs. They are selling their best, most talented horses because they need the money.

You getting to the upper levels might not happen on this horse. It is an ugly reality for many professional riders. I cannot think many people will want to do a syndication on a rider without a long list of successful rides at 3* and above.

PKN[/QUOTE]

There is an interview somewhere with Oliver Townend where he talks about having had to sell all of the nicest horses he’s ever owned. Luckily for him he’s still managed to get some great results! Selling the great ones has allowed him to buy a farm and build a business. Not saying you should be selling Bug rather than syndicating him, it’s just another route someone else has taken.

[JER]

[QUOTE=RAyers;7041566]
Oh, I root for Nico too. I was a fan of his dad, Keke for years. And, I have a Fernando Alonso t-shirt from Ferrari.[/QUOTE]

And now I will make an on-topic F1 post.

On YouTube, you can watch a documentary called ‘When Playboys Ruled the World’. It’s a look back at mid-70s FI and Moto GP, focusing on James Hunt and Barry Sheene.

Hunt and Sheene are two of the most daring, charismatic (and attractive) sportsmen ever. This was before the era of canned athlete-speak branding and marketing. These guys found a way to be both huge celebrities and accessible, honest and fun in their interactions with fans and media. If you want to learn what makes a sports personality truly compelling and what makes a casual fan become a superfan, you’ll see it all right there in Hunt and Sheene.

Enjoy. It’s a wonderful doc even if you don’t know anything about motorsport. Hunt and Sheene are fantastic characters.

[SuperEventer]

I only mentioned what “The Team” looks for, as that is what was told to me when I talked with the Owners Task Force.

I appreciate everyone’s opinion.

[PrinceSheik325]

First of all, OP, I have to say…kudos to you for pursuing your dreams. I, too, have seen your posts on EN, and I always love your contributions. Have you considered, as a means of raising money, starting some sort of blog on your own, gaining a following, and selling advertising rights to companies?

As far as the syndication goes, I think it’s going to be really hard to attract individual investors. For “B” Shares, maybe you could offer private or group lessons as an incentive. But, that would also eat up your time.

Unfortunately, getting a “normal” job also comes with drawbacks. For example, I have a well-paying job that affords me the money to be able to compete a horse at the upper levels (if I wanted to or was ever good enough!). However, that same job sucks up all of my time - so much so that I generally ride before the sun comes up during the week. So really, it’s a catch 22…unless you’re Bruce Springsteen’s daughter. I guess the best advice I can give would be to try and find a part-time, not-so-time-consuming job to help offset the cost and also try and syndicate the horse.

Best of luck to you!!

[RAyers]

[QUOTE=JER;7041997]
And now I will make an on-topic F1 post.

On YouTube, you can watch a documentary called ‘When Playboys Ruled the World’. It’s a look back at mid-70s FI and Moto GP, focusing on James Hunt and Barry Sheene.

Hunt and Sheene are two of the most daring, charismatic (and attractive) sportsmen ever. This was before the era of canned athlete-speak branding and marketing. These guys found a way to be both huge celebrities and accessible, honest and fun in their interactions with fans and media. If you want to learn what makes a sports personality truly compelling and what makes a casual fan become a superfan, you’ll see it all right there in Hunt and Sheene.

Enjoy. It’s a wonderful doc even if you don’t know anything about motorsport. Hunt and Sheene are fantastic characters.[/QUOTE]

Speaking of MotoGP, I like Valentino Rossi. A man who talks to his bike of the start grid before every race is my kind of guy. In the 70s into the 80s, I admit, I was a Kenny Roberts and Freddie Spencer (actually I like Spencer more) fan.

But, the idea is that many professional riders could take some lessons from other sports.

[JER]

It’s worth noting that (as reported in EN and elsewhere) Karen O’Connor couldn’t sell all the shares to the Mr Medicott syndicate, despite 2012 being an Olympic year and the horse being on the team.

While the EN report today is all about how great syndicates are, how great can they be if KOC can’t fill one on an Olympic horse in an Olympic year? Or if Doug Payne couldn’t swing one for Running Order?

Common sense is lacking somewhere if the EOTF is foisting this B-share BS on riders like SuperEventer. Why encourage people to go out there and pitch an appeal for donations dressed up to look like a business idea? No one with any business experience or any budgetary concerns is going to see it as an intelligent plan.