Starting a Horse Business
This article is intended for those who have their sights set on starting their own horse business. Find out what this business is all about. Learn some pointers that may come useful as you go about starting one.
Running a horse business may be quite challenging but it is infinitely rewarding especially if you are an equine lover by heart.
There are several ways you can enjoy a career in the horse industry. You can operate a lesson barn. If your funds permit, you can be a breeder. You can manage a horse training business, run a public rental stable, be a horse trader and so on. Your options are indeed aplenty so it is best that you explore all of them before diving in.
As a general rule, in order to make it in this industry, you must have a combination of experience, funding, technical know-how, business savvy and reputation. Other traits that would give you a plus factor are: self-discipline, patience, good judgment, and good communication skills.
- If you are really interested in starting a horse business, enumerated below are some pointers to help guide you.
- What if something goes wrong and your handler is ill equipped to handle the situation? Make sure that the people tasked to provide grooming and care for your horses have the proper skills to do their jobs effectively. Aside from knowing what needs to be done, they should also have the sufficient work related experience. Your horses are the lifeblood of your business so you should see to it that they are in good hands. A knowledgeable, efficient, and hardworking employee is hard to come by. As soon as you find one, make the effort to keep him a part your staff by rewarding them for a job well done and providing fair remuneration and benefits.
- You have to make full use of your marketing abilities. Even if your horse breed, product, or service is top notch, it will not matter if you don’t get the word out to your target market. You also need to determine a way to retain your customers. Look at things from a customer’s perspective. If you we were the customer, what will you look for in a horse business? Use your answer to this question as basis for your marketing strategy.
- As mentioned, your horses are the lifeblood of your business so you need to pay particular attention to their health. Health maintenance maybe costly and cumbersome but it is a necessary investment. Think of the alternative. If any of your horse gets afflicted with an illness, you end up losing money because your horse will be out of commission. Also, it is far more tedious and time consuming to take care of a sick horse than a healthy one. Worse case scenario, what if one sick horse affects the lot of your herd? You may end up losing your business if this happens.
- Identify your baseline operating expense and make sure you stick to it. Better yet, find means and ways to keep your cost down. Some tips: Whenever possible, buy in bulk because this saves you tons of money. Set a guideline that your staff must follow to ensure that inventory wastage is kept at a minimum. In other words, tell your staff exactly how much bedding, tack, grain, and other resources they can use per horse or stall.
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