Typical costs PER HORSE PER DAY in Kentucky can vary by several dollars/day - the numbers here are on the LOW END of the range, and are current through 2008. About 20% of the labor cost for groom, rider, and hotwalker is FICA, unemployment, and workers compensation taxes :

• $22 - groom
• $14 - exercise rider
• $7 - hotwalker

Total labor cost per day per horse is $43.

• $4 - straw
• $5 - hay
• $4 - grain or other feed and supplements not charged to owner
• $4 - office/barn equipment, tack, supplies, liability insurance

The total is $60/day PER HORSE. Note that hay and straw are 2-3 times more expensive in south Florida because it must be shipped in from the north. Also note that training centers that do not have live racing charge "stall rent", generally at a rate of $5-$10/day per stall. These two expenses alone can raise the cost per day per horse significantly.

In our research we found day rates in Kentucky that varied from $55-$85/day. The majority of trainers we encountered that are stabled at race tracks and large training centers in Kentucky charge about $70/day.

Other expenses paid by the trainer and usually not covered by the day rate:

• travel and moving expenses, rent or 2nd home at seasonal track
• assistant trainer's salary
• health insurance

Other expenses paid by the owner that are not included in the day rate:

• farrier
• shipping
• veterinary care, medications, vaccinations, worming
• specialized equipment or supplements for an individual horse
• mortality insurance on horses
• liability insurance

Other points to consider:

• Not only do most trainers drive to work in the morning 7 days/week, they also have to drive to the races when not stabled at the active track, and many move their entire stable and their home with the racing circuit several times a year. In order to retain important staff members, trainers have to pay some employees' travel and moving expenses as well. For these reasons travel expenses are extremely high for most trainers.
• For trainers who have exercise riders on salary, the more horses per day that one rider can gallop, the less the cost per horse for the trainer. Similarly the trainer's labor cost will be less if salaried grooms handle more horses per groom; however, each horse in the stable will receive less individual attention if the groom and exercise rider have more horses to work with daily.
• Feed and bedding cost is directly related to quality, and feed/bedding quality directly affects the horse's health and performance so is very important. The cost of hay and straw can fluctuate greatly depending on weather conditions and demand. Most race tracks and large training centers mandate use of straw for bedding, so lower cost bedding options like sawdust on rubber mats is often not an option.
• Most racing stable employees and many trainers do not have health care insurance coverage because they can't afford the premiums. Of course this is a problem shared by many small businesses in the U.S. This problem is part of the reason for the existence of horsemen's organizations such as the Horsemen's Benevolent and Protective Association (HBPA) and the Kentucky Racing Health and Welfare Fund.

So you might ask, "how does a trainer make a living?"

Trainers have to make ends meet with purse money, and there isn't much room for error or a trainer will go broke quick. Let's optimistically assume that an average trainer's 10 horse stable earns an average of $20,000/year per horse, or $200,000 in total earnings. The trainer's share of the purse earnings is 10% or $20,000. A major focus of the HBPA is maximizing purse money, since it is what keeps not only trainers, but the whole racing industry in business.

Creative ways that some trainers try to improve the bottom line:

• Owning part of the horses they train, therefore increasing their percentage of purse earnings. This is risky since there is no guarantee that any horse will actually earn money (see stats below).
• Acting as bloodstock agents for their owners, making 5-10% commission on buying and selling racing prospects.
• Owning a farm and breeding for racing or sale, boarding layups and young horses for owners.
• Using their own truck and trailer for shipping.

Unless a trainer has several high dollar earners in the barn, it's a tough way to make a living. A trainer must be ruthlessly selective of the horses kept in training to ensure that each one can contribute to the bottom line. This is not an easy task considering the statistics below from Thoroughbred Times:

Chances of what any given thoroughbred race horse born in North America might accomplish in its entire racing career: