Horse business is not common among entrepreneurs’ top choices of industry because instead of having an income-generating enterprise, it can end up a liability. Keeping horses, for instance, require utmost understanding as little knowledge of stable management can be dangerous.
Profitable horse business owners go through numbers of challenges which range from as little as petty complaints from people to as much as sustaining the farm costs. However, some horse business experts have a few common things to learn from to succeed in such an overwhelming business.
Hay Purchase
During the summer season, hay prices are at its cheapest. Farmers go about finding haystacks buyers knowing feeds stores are selling them at normally an increased and commercialized price. Hay bales are even transported to nearby horse stations straight from harvest leftovers for the purpose of selling.
To save from high hay and straw price, horse business owners purchase them ahead of time in preparation for the winter when its price is normally the highest. The beauty of saving hays for the rainy days is true in this case.
Pasture Care
Horses are meticulous. Their mental health is as essential as their physical greatness. For both to be achieved, stable maintenance should be observed day in and day out. Grazing areas must be taken cared of on a regular basis to ensure equal and balanced grazing fields. Overgrazing is a common issue among horse pastures, and this is best addressed by scheduling the horse grazing in a rotational manner.
For this to be done, the horse farm owner must employ a maintenance employee exclusively assigned to harrow, mow, and irrigate the grass fields. Seeding, fertilizing, and weed control should be top of the mind when it comes to turning out the pasture well.
Horse Manure Compost
There are two ways horse manure can help the business. One, when spread around the pasture, horse manure is perfect replacement for commercial fertilizer and that would save you from that part of the business cost. This, however, poses too much work. If you do not have that much patience to wait, count the days and ensure the compost is dry enough and no longer has parasites on it, you better sell it and leave it on the hands of the experts.
Two, the easiest way of disposing of your horse manure once composted, is selling them to farmers and gardeners, who frequently require it for the good health of their produce. Just wait around four to six weeks and those golden black lumps can add up to your horse business profits.
Facility Rental
To maximize the business potential of the horse industry you are engaged in, horse trainers within the community will likely visit you. Chances are, they will need an arena for their lessons and trainings. You can arrange between yourselves a reasonable payment in exchange of having them use your space. Just be vigilant in choosing your trainers as they can get your farm hot to the eye of the local animal protection agencies.
Come up with a contract or agreements for both of you to sign, so you will not be held accountable for whatever unwanted scenarios during the training. That way, you got your back covered, considering most students will be unable to control reigns nor their horses.
People Skills
It has been said that as the owner of an industry, you take care of your people, and the business will take care of itself. This proves true in running a profitable horse business. Invest in the learnings and expertise of your employees. Running such a business would demand for a sociable barn people to ensure clients and repeat visitors.
Exceptional customer service will get you far, considering the free marketing and advertisement brought about by the word of mouth. Anything that takes place inside your business field will be relayed and spread towards the interested horse-related entities.
Now that you have the essentials in place, it is time for you to decide which type of horse business you will specifically walk yourself into. Here are some choices:
Types of Profitable Horse Businesses
You should have known by now that there are around 40-50 types of horse businesses and the most common among them are as follows:
1. Horse Breeding:
thriving and profitable, this is one of the most preferred choice of entrepreneurs engaged in horse businesses. Whether for transportation, farming, or for leisure, clients would look around for a local horse breeder. This, being a part of the livestock and agriculture, has generated huge incomes among barn owners.
2. Sports Coaching:
Trainings and lessons involving horses is most common among areas where pastures and horse farms are vast. Eventually, coming up with a Sports Coaching gig would suit the locals. Typical leisure-loving horse trainers would either sign themselves up as clients or as personal coaches. When you own the place, you earn from both, the coaches, and the students. The trick is how you make them happy during the visit, retain them, and ask for referrals. That will be a triple whammy of a sustainable business choice.
3. Horse Leasing:
As if cars, horse can as well be leased. Although it appears expensive, it depends on the available variety, the affordability, and the capacity to pay of the frequent visitors. Renting horses in areas where it is most common can return a reasonable amount of income to barnyard owners and horse stalls keepers. Just like any form of transportation, temporary ownership of such would mean paying for the time the horses will be out of the barn, insurance, just in case the horse gets injured while out and about, and the actual charge of renting it for personal reasons.
The idea is to offer one, two, or combination of these types. Do not over-offer as you will be challenged with a wide variety of issues in running your industry and you might have a hard time resolving each. One thing is for sure, a horse business can be profitable. Just put into consideration, the above suggestions and starter ideas.
