How to Start a Horse Boarding Business
The Census of Agriculture reports there are 5.2 million equines in the nation. This provides many opportunities for entrepreneurs looking to launch a horse boarding business. It's easiest to start this type of business if you live on a large piece of land with a structure that's easily converted into a barn. And although a boarding facility can be located anywhere, most are situated outside of a large metropolitan area. Here's how to start a horse boarding business.
- Difficulty:
- Moderately Challenging
Instructions
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1
Create a business plan. Before starting any business, you should develop a solid business plan. Companies such as Bplans.com offer free templates that allow you to develop a business plan. Spending time planning your business will assist in heading off potential problems.
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2
Study your current market. Before opening your horse boarding business, you should evaluate the competition in your area. Determine how many other boarding businesses are available, how full their stables are, and how you can make your business more attractive.
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Set your pricing strategy. When evaluating the competition, evaluate what they are charging customers. Boarding facilitates can make $200-$800 per horse monthly depending on the geographic location. Add up your overhead charges to determine how much you need to charge to produce the desired income.
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Evaluate your current land. If you have an existing barn you will need to examine stalls for possible improvements. Fences should be designed for horses, which means they are made from pipe and completely climb proof.
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Seek legal advice. Before you open the doors to your business, you will need to develop legal horse boarding and riding contracts. Hire an attorney to assist in developing these documents or contact your State for guidance.
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Tips & Warnings
Create a bookkeeping process. Once you start to receive payments you will need an organized way to track payables and receivables. Programs such as QuickBooks can assist in tracking your accounts payable and receivables as well as taxes.
Purchase liability insurance. As the owner of a horse boarding facility, liability insurance is essential because your homeowners' insurance won't extend to your business. Look for commercial equine Liability and Care insurance.
