I was wondering if anyone had a business plan for their horse business and would be willing to share it. I am in the process of building a small farm and am trying to get my business set up correctly. I would like to say that I am just going to board for others with racehorse, or for layups but I can also see myself trying to breed or pinhook. I am in the process of doing some research to see which area I want to focus on. Any thoughts help would be greatly appreciated.
Please send me a private email.
thank you,
Gary
ANyone have a Business plan?
Moderators: Roguelet, hpkingjr, WaveMaster
Business Plan
You are way too late on the start of your business plan. It should have been sketched out before you invested any money in construction. You might have built a pool (another money pit) instead. But here are some thoughts on what should be included. First, a purpose or concept statement; for example "my business is to board mares" and a statement of services. Second, an estimate of revenue (most likely board) you expect to receive for providing these services. Third an estimate of your cost to provide these services. Costs to consider include feed, hay, bedding, waste disposal, insurance, labor, taxes, workman's comp, interest, depreciation, cost of capital, allowance for accounts receivable, maintenance, and allowance for "where the hell did all the money go?" among others.
Somewhere in your analysis you may want to review the local competition in your area. Misery loves company!
Most people in the business find their most effective analysis is to consider the stall as the production/cost unit. The more extra services you tie to the stall unit the better your chance at profitability. (Note - these are the extra charges that drive the rest of us crazy). Finally, you should try to do a cash flow statement so you can predict how much you are actually subsidizing the owners every month.
A useful business plan is a living document which is modified to reflect actual experince.
Good luck!
Chuck
Somewhere in your analysis you may want to review the local competition in your area. Misery loves company!
Most people in the business find their most effective analysis is to consider the stall as the production/cost unit. The more extra services you tie to the stall unit the better your chance at profitability. (Note - these are the extra charges that drive the rest of us crazy). Finally, you should try to do a cash flow statement so you can predict how much you are actually subsidizing the owners every month.
A useful business plan is a living document which is modified to reflect actual experince.
Good luck!
Chuck
