by Terry Lidral
Bucking stock partnerships are bringing an interested public into the bucking stock industry. The article, Bucking Bull Business – Consider Partnership, is one of the most consistently and widely read articles on the Bucking Stock Talk Magazine site. And, if partnerships are done right, it’s a good way to showcase the bucking stock business.
It’s a fact that people love bucking stock. Bulls and broncs have their own Facebook pages and fan clubs. Fans root for the rough stock just like they root for the cowboys. And there are a whole lot of folks who think being part of the bucking stock industry would be a dream come true. Partnerships are a way to add the non-ranchers to the business and get them involved in the venture of their dreams.
Fortunately, or unfortunately as the case may be, partnerships can bring the attention of the world at large to the business. A satisfied partner can be the best advertising the business can have. But if someone feels that the partnership was unsatisfactory, especially if they feel misled or ill used, their outside comments can be damaging to the reputation of an individual business and the industry at large. True or not, negative comments, especially on social media, can have a big negative impact on the image of an individual or a company. There’s no guarantee that a partnership won’t turn sour, but there are standards in the business association that can keep you from being at fault.
There are ways to safeguard a partnership legally. Agreements and disclosures drawn up as legal documents can be protection for both owner and partner in what should most definitely be a business relationship. Handshake agreements without proper documentation involving the exchange of money or services leaves both sides open for a Pandora’s Box of negative outcomes. There’s an old saying, “Trust the dealer, but cut the cards.” Good intentions don’t always turn out the way you expected.
When drawing up a partnership, the best way to safeguard the future of the association is to spell out exactly what the deal entails. Presenting every cost and every monetary charge the partner will be asked to pay offers an honest expectation that may prevent friction later on. It can be a good idea to establish what documentation of charges and cost will be delivered to the partner over a scheduled amount of time and how often it will be delivered. And it can be beneficial to both parties to decide about the procedure for extra costs and unexpected charges before they arise. Most people outside the bucking stock industry have little idea about how much it costs to feed and care for animal athletes. And few have a clue how much work and money it takes to buck them in competition. Spelling out the facts in money terms gives you the opportunity to find out if the person requesting partnership is ready and willing to make an honest commitment to the deal. People who have dreams of “owning” a bull often have no clue about the financial matters involved. It’s important to make sure that before any papers are signed the potential partner has a realistic understanding about the full scope of the deal they are entering.
One of the biggest delusions people outside the business have is that it’s possible to predict the performance of a bucking bull or bronc. People looking for partnerships often browse around for familiar names like Bodacious, Showtime, War Paint and Miss Congeniality thinking that legendary genetics will ensure competitive success of offspring. For a partnership to work, the partner has to realize that there’s no way to predict how the animal athlete will perform at any given time. An up front presentation of that fact can smooth out the rough spots and disappointments that everybody in the bucking stock industry goes through.
One decision in partnership is the duration of the contract. When considering entering into a partnership, it is important to know how long you can commit to keeping the bull or bronc. If you are offering a partnership on a calf, is it going to be for a year, two years, or open ended to give yourself the option of selling off the bull? It’s a hard cold fact of the bucking stock industry that these animals have to earn their keep. For a business to be a success, a bull or bronc has to be at a standard of competition quality that you have set for your program. The dissolution of a partnership can be discussed and even included at the time the initial document is drawn up. It can save a lot of agony later on.
If you are new to partnerships, there are plenty of people in the bucking stock industry you can talk to concerning how to go about drawing up the contract. It’s important for you, the partner and the bucking stock business at large that things go well. When putting together your partnership agreement, take the time to do it right. A good partnership will not only raise the standards of your program, it will have an impact on the bucking stock industry at large.
Author: Terry Lidral
Terry Lidral is a western writer/journalist who lives in Idaho. She is the publisher and editor of the online magazine Bucking Stock Talk and the online magazine Western Living Journal. Her publishing credits include Storyteller for Real American Cowboy Magazine, writing feature articles for Humps N Horns Magazine as well as a wide variety of national and international web sites, historical magazines and news publications. She is known for her "up close and personal" profiles of celebrities and industry moguls such as NPR's Tom Bodett; PBR's Wiley Petersen and D.H. Page, PRCA's Sammy Andrews, Cindy Rosser and Julio Moreno to name a few. She has been applauded for her way of making a personal connection between her readers and her subjects. She indulges in her love of rodeo by serving as an associate board member for the Caldwell Night Rodeo. She is also an accomplished trainer and handler in dog agility. Her shelties Amelie and Milo are titled in NADAC, USDAA and AKC.
