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Horse Business | Equestrian Professionals

Running a Successful Horse Business

farrier businessEvery Business has Two Parts

As with all businesses, equestrian businesses involve two parts. First, is the skill or service that the business offers such as farrier services or a horse boarding barn. Second, is the business side of the business that involves marketing, planning, financial statements, cash flow, and risk management.

Running a business is not easy. It is not enough to be the best at your skill or service, you must be able to get new customers and keep existing customers through an effective marketing plan. Without sales, there is no business.



Marketing

Your horse business depends on attracting and keeping customers, yet many new businesses fail at this very basic concept. Failure to constantly promote your business through effective marketing techniques will result in the failure of your business.

There are many ways to market without expensive advertising and you should be aware of these methods.

Business Income

marketing eequine servicesAs the main employee of your business, you must pay yourself a living wage. If your business income does not allow you to do this, you don't have a business and you should go to work for someone else so you can meet your personal financial obligations.

Most people have personal financial obligations in addition to business financial obligations. You cannot ignore your personal financial obligations in favor of your business obligations. Each should be kept separate so you can budget for both and see the results of your business.

Side Hustle

Because of the need to support themselves, many entrepreneurs start on a part time basis, holding down a full time job while building a new business as a side hustle. Once the side business produces enough income to have the potential to support them, they then move into the business full time.

Have a Plan

The purpose of these pages is to help you be a successful business person, not to teach you equine professional skills. You should have those skills before going into business.

First, you will need a business plan. The SBA provides a very useful tool for building a business plan. The process of building a business plan is hard work, but having your business fail is even harder work. Start with a sound plan and you will have a much better chance of succeeding.

What You Should Know About Running a Business

Nov 26, 2019
Improving Cash Flow in Your Business
Monthly Billing
One of the best methods of making sure you are paid on a monthly basis such as stall rent is to have the tenant sign an agreement to let you bill their credit card automatically on the last day of the month. This assures you of being paid on a timely basis and the small cost of the credit card fee pays for itself in saved losses.
The biggest risk is if the renter maxes out the credit card, but that risk is actually less than a bad check that can cost you bank fees.
The renters like it because they can receive cash rewards on their credit card and it helps build their credit scores.

Nov 26, 2019
10 Places You Can Promote Your Business For Free
Larry Kim
If you want to expand your reach, increase your engagement, and boost your revenue, then promoting your business is crucial.

Utilizing social media is an important aspect of business. It is the most popular method of online communication among your customers, and people like to have different channels through which to communicate with businesses. More info...

Nov 26, 2019
Refinance is a smart money move today.
Don't wait
According to a new analysis, more than 4.9 million homeowners could now see a significant drop in interest rate if they refinanced their mortgage loan today. That’s 1.6 million more than it was just one week ago. More info...

Nov 25, 2019
Business Loans
Money for your business
Apply for a small business loan with one simple application and get several offers. Lenders will make offers based on your business credit and income. It cost nothing to apply so it is worth a few minutes to see what kind of loan offer suits your needs. More info...

Aug 16, 2019
Personal Loans for Horse Needs
Low Rate Personal Loan
personal loanA personal loan can be the best way to meet unexpected expenses such as horse illness or injury. Or maybe you want to purchase a horse. A personal loan can be the fastest and best way to solve your money needs. More info...

Jul 20, 2019
What to Know Before Starting a Horse Rescue
Pat Raia
Getting a rescue up and running—and keeping it that way—takes more than the desire to save skinny horses. Here are some practical points to ponder. More info...

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