Harness Racing Canada


http://www.harnessracingcanada.com
Breed: Standardbred
Locations: Ontario
  Average Review (4)

Creating fractional ownership opportunities for as little as $300/share including no monthly fees formats.

In Operation Since:
2007

Managing partner:
Paul Garofalo, President

Paul Garofalo has been involved in the harness racing industry as an owner for over 20 years. His participation has involved ownership in over 50 horses during that time, from stake calibre to claiming horses. His business background has involved owning and running a number of companies which brings keen business acumen and knowledge to the group .

Additional Key players:
Wayne Preszcator, Trainer

Wayne Preszcator has been involved in the harness racing industry for over 20 years. His training experience includes racing at the top levels on both sides of the border including entries in the Little Brown Jug, Meadowlands Pace and the North America Cup. A welcome addition to the HRC family.

What kinds of horses do you target, for what kinds of races? What are the main goals of your partnerships?

Harness Racing Canada's current mandate is to acquire racehorses that are currently racing on the top circuits in Canada. This may be achieved through claim and/or private purchase.

How is the managing partner compensated?

Harness Racing Canada is only compensated when the group's racehorse earns purse revenue. Compensation is calculated at 6% of gross purses less track deductions. At HRC we feel it mandatory to participate only when owners are earning revenue. No further compensation is required.

Who authorizes the various expenditures and how are the partners notified and billed?

Although owners input and suggestions are always welcome, it is the responsibility of the managing partner to make all final decisions. These decisions will be made always after careful discussions with the trainer and in determining what will be in the best interest of the owners, horse and group combined.

When income is recognized from purse money or sales, does this income flow directly to investors or is it maintained in an account to cover future expenses? At what point does the partnership settle up (monthly, quarterly or annually)? Is each partner provided a statement reflecting cash receipts and disbursements? How often?

Accounts are calculated on a monthly basis. Statements along with all applicable receipts are supplied. Owners are not asked to maintain an account however if in the event revenue does not cover monthly costs, owners will be asked for applicable amount owing and will be expected to be remitted in a timely manner. In the event of a surplus payments will be made with each monthly statement.

Are racing and sales decisions made solely at the discretion of the managing partner?

As stated earlier, input and suggestions are encouraged by all owners however the final decision will be with the managing partner on all purchases, sales, entries etc. These decisions will always be made with everyone's best interest first and foremost.

How do you keep your partners updated about their horses (Email, phone, website, online message board, etc.) and how often are they updated?

Harness Racing Canada maintains an interactive website which includes a private forum where information is given to all owners. The website also carries video of each race as well as stats, newswires, blogs and any relevant information. As well owners are emailed important information on a regular basis and are also encouraged to email with any questions and/or concerns at any time. Replies are generally given within a few hours.

What sort of services and perks do you offer your partners? Stable Visits? Farm Visits? Help handling the licensing? Anything special you want to mention?

Harness Racing Canada considers itself a family organization. We encourage owners to visit their investments on a regular basis and do not have any restrictions. Owners are also encouraged to visit the paddock after each race to have a chat with the trainer and managing partners and see how their horse came out of the race.


REVIEWS
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  C. Best, 5/30/09
My experience with Harness Racing Canada could not be any better. The communication is second to none and Paul does his best to keep everyone informed as if we were talking to the trainer directly. I can ask any questions and make suggestions and I know that they will be looked at seriously and not just given lip service. I only own a few shares in each horse but HRC makes me feel like they are all mine. I highly reccomend HRC to anyone wanting to get their feet wet in harness racing. As Paul keeps telling us hopefully his goal from the start is to hopefully see some of his owners go on to become big owners on their own. Whether that is your own goal or not, HRC will make it fun for you. I know they have for me.

  Shawn Fuller, 4/12/09
My experience with HRC has been terrific!

Paul Garofalo runs a very well-organized syndicate. He listens to the owners and works hard to keep them happy. I am extremely impressed with the level of communication and responsiveness. Information is shared in real time through HRC's world-class website (www.harnessracingcanada.com) and via email. Anyone contacting Paul can expect a prompt and thoughtful response.

Wayne Preszcator is our trainer. He's an absolute professional and a pleasure to work with. Wayne is easy to approach - both at the paddock and at the training facility (which I have visited). Wayne is winning races for the group. If you look at HRC's roster of horses, they have improved - hitting new lifetime marks - after working with Wayne. Simply put, he's a great trainer.

I'm happy to recommend HRC because I've had a wonderful experience. This is a great group - especially for anyone new to horse racing. As a first time owner, HRC has made this very easy for me. It really is "turn-key" ownership.

  Martin Firestone, 4/8/09
I have been involved in several fractional ownership scenarios over the last two years and I can honestly say this relationship has been the most satisfying and I might add successful, since I got into it
The relationship with Paul Garofalo has been incredible
This group as I told him makes a 5% owner feel like he owns 100%
They get back to you right away and even ask your opinion, something I never experienced before
I used to own horses outright before and the old story where all my hopes and dreams were pinned on one horse
Now I can own 5% of 5 horses and always have some excitement going on
The promises and claims made by this group have all been honored
Bills when received were as I had expected
The ability to have bills or no bills is a unique option and I actually enjoy both paying options
Overall a great group to get involved in where you really cant get burnt and the upside is huge, not only with respect to money but more importantly the fun of the sport..the pre race , the race and after the race
Highly recommend this to anyone who wants to get into the game with little exposure.

  Garry Law, 4/8/09
I have been involved since Jan. 2008 and being a harness racing fan found this perfect for me.For as little as 1% you can own part of a racehorse, go to the stables, get your picture taken in the winners circle and be part of a team of great people all with the same passion as yourself. We have come a long way since i joined and it keeps getting better as the stable has been winning on a regular basis. Management and our trainer pick out horses after thorough checking that hopefully will be a solid investment and then it is up to us to accept or reject. The price per share corresponds with the value of the horse and to use an example we claimed a horse for 15k and it has moved up the value ladder so now it is worth approximately 70k. Paul will answer your e-mails immediately and is really knowledgeable and professional. Personally i do not think presently they could improve very much since we are all having a blast. Again if you love harness racing and want to become part of a great team with great people for as little as 1% Harness Racing Canada is for you.