A: Have a mare and would like to raise a baby to sell. or B. Have a mare and would like to raise a foal to keep that has her attributes.

1. The mare is Registered
2. The mare is Grade

The vast majority of breeders do not make money from breeding. And it's not because they are bad at managing money. It's because foaling out a mare costs money and complications add to the cost, and raising a foal takes even more money.