Share on Facebook A love of horses and the ability to manage a business is just the start when it comes to opening your own equine facility. You also need a business plan that details the costs associated with all of the equipment and stock you must buy to make the facility viable. Besides giving you an operational guide for running your facility, the plan might also come in handy in seeking the funding necessary to buy or lease land, erect buildings and acquire stock if you need funding to get the business off the ground.
Where Do I Start? This presenation help to get you thinking about your business plan and set the framework for what your business plan needs to accomplish for you.
Then, move on to Step 2 and start writing! STEP 2 This is where the rubber meets the road. The most important part is to get it down on paper. The easiest way to get your business plan on paper is to use the Horse Business Assessment.
It takes you through a series of questions that will help you clarify and create or update both your business plan and the marketing plan that should accompany it. Consider it a reality check for your business. It will require you to make sound decisions to move your business forward. It will help to identify your key strengths and weaknesses within your business and allow you to address them.
And in this economy, it is critical that you are focused and moving in your desired direction.
On the Equestrian Professional Website running down the left side of the screen under "Equestrian Business" - click on Horse Business Success to find an array of excellent resources available to you and information to help you complete your Business Plan all gathered in one place.
STEP 3 A good marketing plan is essential for growing and maintaining a healthy business. Creating a written marketing plan will help to achieve the greatest return on your investment whether that investment is money or time by helping you to gain clarity and market consistently.
A business plan is vital even if you already own horse property and plan to expand its use to boarding horses and giving lessons. Without one, you may not realize the hidden costs involved in turning your hobby into a business. In the horse stable, we plan to take in boarded horses, horses in training, and lesson horses. Lessons will be provided in western riding (reining, barrel racing, and western pleasure) and English riding (dressage, jumping, eventing, and english pleasure). A Marketing Plan is an important section in the business plan, as it details why clients will choose your stable over another, as well as highlighting how you plan to introduce your stable to new clients. It will include your pricing structure and plans for advertising, marketing materials, use of digital marketing tools and general promotional.
Running through the program will help you identify ways that you can market your business and set goals that can be achieved through strategic marketing. These goals, and the methods to achieve them, will then become part of your Business Plan. STEP 4 Continue to gather the supporting documents that will become addendums to the business plan.
These documents will help you to describe what steps you will take to fulfill your goals. An excellent resource area is the Equestrian Professional Download Library. How to Use the Horse Business Profit Margin Calculator to understand how you can look at your financial picture and understand where your profit margins are within your business.
Take a look at our Horse Business Budget Example to set up your budget. You can use this tool to create your budget.
And here is where you can then try the "What if" scenarios for your planning purposes. It will help you to see where there are cash flow problems that you will need to address.
Creating a budget will help you to see how your business will flow and where there are large expenditures such as taxes, hay, or insurance that may need special attention. It will give you an idea of how your income will cover your expensesCreate your own business plan Business planning has never been easier.
With complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan for success/5(7).
Executive Summary. You’ll probably write your executive summary last, but it appears first in the business plan. Succinctly describe the main points of your equine business: the idea, how you. Free Horse Farm Business Plan For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below. The horse training sample business plan is exemplary in style and detail.
The owner knows horses and how to care for them in all conditions, race training, injuries, rehabilitation and foaling. The cash flow predictions are realistic, to break even in year one and achieve comfortable net profits from year two. A Marketing Plan is an important section in the business plan, as it details why clients will choose your stable over another, as well as highlighting how you plan to introduce your stable to new clients.
It will include your pricing structure and plans for advertising, marketing materials, use of digital marketing tools and general promotional.
The EquineAcres business plan presented here is the direct result of experience in the equine business which has identified the real, "big strike." EquineAcres is not directly involved with the horse business.