How to Start an Equine Business
Many horse people dream of some day turning their love of horses into a full time business, but there are many challenges to be aware of. Equine businesses face the same challenges as traditional ones, but they also face higher than average insurance costs, zoning restrictions and other obstacles. Being aware of those obstacles will help you plan your business more effectively.
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Instructions
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Determine which sector of the equine business is best suited to your level of experience and your area of expertise. If you love to work with children, running a lesson program would be a great choice. If you have experience training your own horses for the show ring, taking on a few clients and building a training business could be a good choice. If you have a large barn and lots of empty stalls, turning your properly into a boarding stable could be a good way to make some extra income.
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Evaluate the facility you currently have and determine whether or not it is suitable for the business you plan to start. If you do not have a suitable facility you will need to buy or lease one. Keep in mind that the costs of equine facilities are quite high, and it may be more cost effective to lease, at least until you have your business up and running.
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Contact the zoning office in your municipality about the proposed business. In many cases residential owners of horse-friendly properties will have to apply for a zoning waiver to run a business out of their properties.
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Consider running your equine business on a part-time basis, at least at first. There are a number of equine businesses that do well on a part-time basis. For instance, you could continue to work a full time job and give riding lessons on weekends, or haul horses to local shows for your training clients. Running the business on a part-time basis gives you the chance to try it out and make sure it is really what you want to do.
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Research the type and amount of liability insurance you will need. Equine facilities need to have sufficient liability insurance coverage in place, since many horse-related activities can be dangerous. When seeking insurance for your new business, be sure to seek out an insurance agent who works specifically with equine business clients. These insurance agents will have a better understanding of the legal liability and other challenges facing such businesses.
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References
- Photo Credit horses image by nutech21 from Fotolia.com
