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Business Management for Racing Partnerships
As
the business manager of your racing entity, Equine
Business Resources LLC will oversee the organizations
business and financial affairs. For example, our
services include:
- Organize the racing syndicate: Create
an operating agreement designed specifically for Thoroughbred
racing partnerships along with the filing of all appropriate
state and local forms.
- Maintain accounting records: Provide
accounting and bookkeeping services including invoice
processing, check writing, bank deposits, and income
tax filings.
- Business and financial reports:
The development of business plans, projected cash flows,
budgets, profit & loss statements, and balance
sheets for the racing entity.
- Insurance protection: Obtain appropriate
insurance coverage for the entity and its Thoroughbreds.
- Communication: Up to date correspondence
with the owners regarding financial and business matters
including monthly/quarterly financial statements and
reports.
- Business procedures: Organize annual
company meetings of the owners and record the necessary
business reports and filings.
- Licenses and fees:
Obtain all of the necessary state owner’s license
and permits needed for racing in a specific state.
- Trainer support: Work with the Thoroughbred
trainer regarding business and financial decisions
and the selection of appropriate races for entry.
- Goals and objectives: Develop and
implement short and long term strategies for each Thoroughbred
acquired by the company with the intent to maximize
its potential earnings and appreciation.
- Duties and responsibilities: Overall,
attend to all administrative and financial matters
necessary to afford the racing syndicate the opportunity
to realize its goals.
Equine
Business Resources has been managing racing partnerships
for over eight years. If you would like EBR to
take care of the day to day responsibilities of your
racing entity or would like help setting up a new racing
partnership, call 502-228-1655 or email: equine@win.net.
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