Thinking of Starting a Horse business? Already Have One and Want to Make it More Profitable?
Here’s everything you need to know to make your horse business profitable.
Ever wonder why some horse businesses succeed and others fail?
The simple answer is that successful businesses avoid the common errors that unsuccessful ones make. These include
If you want to start a horse business, you need to know what these things are. If you're not sure, you've come to the right place. Browse this site for gold nuggets of information and useful tips on making your horse training or horse boarding business succeed!
The simple answer is that successful businesses avoid the common errors that unsuccessful ones make. These include
- under-capitalization
- lack of an adequate business plan
- lack of understanding of your target market, and
- underestimating business-related expenses
If you want to start a horse business, you need to know what these things are. If you're not sure, you've come to the right place. Browse this site for gold nuggets of information and useful tips on making your horse training or horse boarding business succeed!
TO BE SUCCESSFUL, YOU MUST UNDERSTAND THIS:
A horse trainer or riding instructor is a self-employed professional. Read that sentence again. Chances are, you don't yet fully get what that means. Click here to find out more.
A horse trainer or riding instructor is a self-employed professional. Read that sentence again. Chances are, you don't yet fully get what that means. Click here to find out more.
THE FIRST RULE OF SUCCESSFUL MANAGEMENT: KNOW YOUR MARKET!
Mary and John both grew up riding and competing horses, and both now want to start a horse business of their very own. Both believe they know everything they need to know about stable management given their vast experience as horse owners, trainers, and competitors. But things didn’t work out as they planned. Here’s why.
THE SECOND RULE OF SUCCESSFUL MANAGEMENT: KNOW WHAT MAKES A HORSE BUSINESS PROFITABLE
If you’re used to boarding your horse, you probably think horse boarding businesses must be highly profitable. After all, look at how high those boarding rates are! You might especially believe this if you’ve taken certain courses on horse keeping or talked with friends who keep their horses at home. They’ll tell you it only costs a little more than $100 a month to keep a horse. So why not start a horse business of your own? But here’s all the things they’re overlooking.
HOW TO STRUCTURE YOUR HORSE BUSINESS.
The first and foremost thing to keep in mind when you want to start a horse business is LIABILITY. People can sue you. There are two ways to protect yourself from liability. The first is choosing a business structure that affords you the most protection for your needs. The second is insurance. Here are the basics that you need to know about legal horse structures.
HORSE BUSINESS INSURANCE NEEDS
There are two things you should never scrimp on when you want to start a horse business: quality horse care and horse business insurance. The first may be obvious to you, but the second is equally important. By taking in boarders or giving lessons and horse training, you expose yourself to enormous liability. Here’s how to make sure you’re covered.
THE IMPORTANCE OF A WELL-CONSTRUCTED HORSE BUSINESS PLAN
Why write a business plan? Actually, there are only two good reasons.
First, because you want to succeed, and success depends on have a clear idea what you plan to do, how much you plan to make, and how much it’s going to cost you.
Second, if you need financing, your lender is going to want to see one. The more professional and well-thought out it looks, the better. Here’s how to write a winning horse business plan (including a sample plan).
First, because you want to succeed, and success depends on have a clear idea what you plan to do, how much you plan to make, and how much it’s going to cost you.
Second, if you need financing, your lender is going to want to see one. The more professional and well-thought out it looks, the better. Here’s how to write a winning horse business plan (including a sample plan).
THE COST OF RUNNING A HORSE BUSINESS
You've owned horses for years, so you're pretty sure you know all the expenses there are for running a horse business, right? It turns out, most people overlook some significant expenses, and only realize it when they run short of money. Here is a complete list of horse business expenses.
HORSE CONTRACTS AND AGREEMENTS
Horse businesses rely on contracts and agreements for almost everything--horse boarding, horse training, horse leasing, and horse sales. Click here to navigate to a great site that offers down-loadable horse contracts and boarding agreements for a nominal fee.
TIPS FOR HORSE TRAINERS AND RIDING INSTRUCTORS
Improve your profitability by improving your teaching and training effectiveness. Here are time tested valuable tips.
15 TIPS TO MAKE YOUR HORSE BUSINESS MORE PROFITABLE
Whether you're thinking of starting your own horse business or have owned one for a while, here are some valuable tips for increasing your profitability.
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How to reduce conflict at your horse barn. Dealing with horses is easy. Dealing with people? Not so much. Here's the solution. Read more...
Good luck in your horse business!
Copyright Denise Cummins, PhD Nov 3 2006; updated Jan 22, 2020; updated May 27, 2024
The Thinking Equestrian
Copyright Denise Cummins, PhD Nov 3 2006; updated Jan 22, 2020; updated May 27, 2024
The Thinking Equestrian
