Horse Business | Equestrian Professional
Running a Successful Horse Business
An equestrian business involves 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 customers through an effective marketing plan. Without sales, there is no business.
Every 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.
As 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 obligations in favor of your business obligations.
Many self employed people like the ability to do what they want, such as working with horses. But, that is not a free pass to ignore your other obligations.
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
Apr 2, 2018
Apr 2, 2018
Mar 19, 2018
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