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5 Steps on Starting Your Own Horse Racing Club

5 Steps on Starting Your Own Horse Racing Club

Horse racing is not just a regular sport because some even consider it as a part of their lifestyle. This is why it is no wonder for some horse racing fans to start their very own horse racing club not just to feed their own interests but in order to start up their own business as well.

Starting your own horse racing club is not that easy because there will be different requirements depending on the state that you are in. However, there are general guidelines that you need to know about in order to abide by the rules that this regulated industry and the government have set up. Here are 5 simple steps that you should take when starting your very own horse racing club.

1. Securing Your Own Headquarters

The horses that you are going to host for the races need a lot of space to move around. This is the first thing that you have to consider which means the area of your headquarters would also include a race track on which the horses can run around in.

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Normally, 50 up to 100 acres of land are needed in order to start out your own horse racing club. If you can afford to have bigger headquarters then that would be much better but the minimum area of land mentioned above should be enough to jumpstart your project.

2. Acquire a License

Each state has their own racing commission where you can acquire a license for starting your own horse racing club. Requirements may vary from one state to another that is why you need to inquire at your local racing commission to get a hold of this. The most common requirements are an application form that includes some personal information, valid ID and a processing fee. You need this license in order to make your operations legal. Otherwise, you would face a legality complaint from the government.

3. Join the National Thoroughbred Racing Association

National Thoroughbred Racing Association is the recognized organization for horse racing businesses in all of the United States. By joining this prestigious club, you are able to acquire contacts and clients who can help you with your small business later on.

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You also need to keep in touch with connections and have them associated to your horse racing business in order to add further legitimacy and eventually make you known around the industry. This is your basic way of making public relations with people who are in the same industry as your business.

4. Start Breeding Your Own Horses

If you do not have a few horses of your own then you can start out by purchasing horses from other horse racing companies. It would be up to your expertise in finding the best thoroughbred horses out there and this can be very crucial to your business because these horses will serve as your primary horses in order to start your own breed.

Keep in mind that you are able to get better deals if you try to purchase multiple horses instead of buying one at a time. Some horse racing companies even give out free thoroughbred horses if you buy good breeding stock.

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5. Register the Horses with the Jockey Club

The Jockey Club is the organization responsible for keeping track of husbandry records in all of United States, Canada and Puerto Rico. They are the commission who are in charge of overseeing the thoroughbred horse racing industry. The club has their own Stud Book that keeps the list of all the registered horses under their organization. Horses that are not registered under this commission will not have much value once they are sold to other horse racing businesses.

By following these five steps mentioned above you are able to start your very own horse racing club. It cannot be promised that this business venture will be able to take in a lot of money for you because most of the successful horse racing businesses start out of pure passion and eventually succeed.

It may take some time before you are able to reap the benefits of this venture once the horses that you breed start to win competitions and make a name for your company. Success would not happen overnight but with perseverance – then everything can be possible.

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Aside from starting your own horse racing business, there are also other forms of revenue sources that you can take advantage of out of a horse racing club. You can also give horseback riding entertainment for visitors or organize horse riding holidays to make your horse racing club not just a place for horse enthusiasts but also make it a spot for families who simply want to enjoy their time around horses.

Starting your own horse racing club is not that easy but it is definitely fun and worth your time and efforts as long as you are passionate about it.

Featured photo credit: MakeMyTrip via makemytrip.com

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Last Updated on December 1, 2020

How to Find Your Entrepreneurial Passion and Purpose

How to Find Your Entrepreneurial Passion and Purpose

I wrote a few articles about starting a business based on something you love doing and are passionate about. I received several responses from people saying they weren’t sure how to go about figuring out what they were most passionate about or how to find their true purpose. So I’m dedicating this article to these issues — how to find your entrepreneurial passion and purpose.

When I work with a new client, the first thing we talk about is lifestyle design. I ask each client, “What do you want your life to look like?” If you designed a business without answering this question, you could create a nice, profitable business that is completely incompatible with your goals in life. You’d be making money, but you’d probably be miserable.

When you’re looking for your life purpose, lifestyle design isn’t a crucial component. However, since we’re talking about entrepreneurial purpose, lifestyle design is indeed crucial to building a business that you’ll enjoy and truly be passionate about.

For example, say you want to spend more time at home with your family. Would you be happy with a business that kept you in an office or out of town much of the time? On the flip side, if you wanted to travel and see the world, how well could you accomplish that goal if your business required your presence, day in and day out, to survive? So start by getting some clarity on your personal goals and spend some time working on designing your life.

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At this point, you may need a little prodding, and you may want to hire a coach or mentor to work with you through this process. Many people are very used to the idea that there is a particular way a life “should” be. There are certain milestones most people tend to live by, and if you don’t meet those markers when or in the manner you’re “supposed” to meet them, that can cause some anxiety.

Here’s how to find your passion and purpose:

Give Yourself Permission to Dream a Little

Remember that this is your life and you can live it however you choose. Call it meditation or fantasy, but let your imagination run here. And answer this question:

“If you had no fears or financial limitations, what would your ideal life, one in which you could be totally content and happy, look like?”

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Once you’ve figured out your lifestyle design, it’s time to do a little more soul-searching to figure out what you’re truly passionate about. This is a time to really look within and look back.

Specifically, look back over your life history. When were you the happiest? What did you enjoy doing the most? Remember that what you’re looking for doesn’t necessarily have to be an entire job, but can actually be aspects of your past jobs or hobbies that you’ve really enjoyed.

Think About a Larger Life Purpose

Many successful entrepreneurs have earned their place in history by setting out to make a difference in the world. Is there a specific issue or cause that is important to you or that you’re particularly passionate about?

For some, this process of discovery may come easily. You may go through these questions and thought experiments and find the answers quickly. For others, it may be more difficult. In some cases, you may suffer from a generalized lack of passion and purpose in your life.

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Sometimes, this can come from having suppressed passion in your life for too long. Sometimes, it can come from eating poorly and lack of exercise. But occasionally, it may have something to do with your internal chemistry or programming. If the latter applies to you, it may be useful for you to seek help in the form of a coach, mentor, or counselor.

In other cases, not knowing your true purpose may be a matter of having not discovered it yet: you may not have found anything that makes your heart beat faster. If this is the case, now is the time to explore!

The Internet is a fantastic tool for learning and exploration. Search hobbies and careers and learn as much as you can about any topic that triggers your interest, then follow up at the library on the things that really intrigue you. Again, remember that this is your life and only you can give yourself permission to explore all that the world has available to you.

How Do You Know When You’ve Found Your True Entrepreneurial Purpose?

I can only tell you how I knew when I had discovered my own — it didn’t hit me like a ton of bricks. Rather, it settled over me, bringing a deep sense of peace and commitment. It felt like I had arrived home and knew exactly what to do and how to proceed.

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Everything flowed easily from that point forward. That’s not to say that I found success immediately after that moment. But rather, the path ahead of me was clear, so I knew what to do.

Decisions were easier and came faster to me. And success has come on MY terms, according to my own definitions of what success means to me in my own lifestyle design.

Dig deep, look within, and seek whatever help you need. Once you find that purpose and passion, your life — not just your entrepreneurial life, but your entire life — will never be the same.

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