Tuesday, September 9, 2008

Come and Join Us!

One of the most important aspects to growth in the partnership business is attracting new partners. Over the past six months I've developed a list of about 25 people who wanted me to contact them when the next group was gearing up. In addition to adjusting the website, I sent out the following to the list:

Hi All!

I hope that you have all had a good summer. We had a great season of racing at Canterbury Park! Fizzy Pop raced five times for his group picking up two wins and a second with checks totaling just over $20,000. His last win was in a $25,000 Optional Claiming race – not bad for a $10,000 pick up! We’re looking forward to his fall campaign at Remington Park which should kick off this Friday night in a $35,000 claiming race.

We’re now gearing up to launch our next claiming partnership for the 2008 – 09 racing season. The game plan will be the same as the Fizzy Pop partnership. We plan on claiming a horse in the $10,000 to $20,000 range with Tammy Domenosky in Chicago. We will race in Chicago over the winter and spring. The summer will be spent here at Canterbury Park, though should we get lucky and develop a horse that can move onward and upward, we will let the horse go as far as it can. We will gather enough seed money to cover three months' worth of expenses in the hope that this will be the last contribution that will have to be made. Of course I cannot guarantee that subsequent purse money will cover all expenses and should additional contributions be required, partners will be invoiced for three months estimated expenses based upon their percentage of ownership (total expenses run approximately $2700 per month or $67.50 per share).

This partnership will consist of between 20 and 40 shares priced at $1,250 per share. One fully subscribed share will give the partner a 2.5% stake. The final percentage of ownership will be determined by the number of units finally subscribed. I am planning on having 4 shares and partners can purchase as many shares as they would like. Should we be oversubscribed, preference will be given to partners purchasing multiple shares. Once the group is sold out, I will go ahead and place folks on a waiting list for the next group. The next group will then develop as quickly as interest determines – it could be immediate or could be for the next racing season.

I am going to close the subscription by October 15, 2008. All of the terms and conditions are covered in the partnership agreement which I will forward to you upon request. I look forward to hearing from you with any and all questions you may have. Please feel free to forward to others that may find it interesting. The more the merrier!

Best Regards,

Ted

I feel like I'm throwing a party and hoping that people come! I'll let you know in about a month.

2 comments:

Steve Zorn said...

Good luck, Ted! (And if any of those folks want to race in New York, I'd be delighted to help out.)

Ted G said...

Thanks and you got it, Steve!