Starting a horseboarding business can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching a successful horseboarding business.
Importantly, a critical step in starting a horseboarding business is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here.
15 Steps To Start a Horseboarding Business:
- Choose the Name for Your Horseboarding Business
- Determine the Type of Horseboarding Business You Will Launch
- Develop Your Horseboarding Business Plan
- Choose the Legal Structure for Your Horseboarding Business
- Secure Startup Funding for Your Horseboarding Business (If Needed)
- Secure a Location for Your Business
- Register Your Horseboarding Business with the IRS
- Open a Business Bank Account
- Get a Business Credit Card
- Get the Required Business Licenses and Permits
- Get Business Insurance for Your Horseboarding Business
- Buy or Lease the Right Horseboarding Business Equipment
- Develop Your Horseboarding Business Marketing Materials
- Purchase and Setup the Software Needed to Run Your Horseboarding Business
- Open for Business
1. Choose the Name for Your Horseboarding Business
The first step to starting a horseboarding business is to choose your business’ name.
This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your horseboarding business:
- Make sure the name is available. Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
- Keep it simple. The best names are usually ones that are easy to remember, pronounce and spell.
- Think about marketing. Come up with a name that reflects the desired brand and/or focus of your horseboarding business.
2. Determine the Type of Horseboarding Business You Will Launch
The next step is to determine the type of horseboarding business you will launch. The four main types of horseboarding businesses are:
- Full-care: Full-care horseboarding businesses provide all the necessary services to maintain a horse’s health and wellbeing, such as grooming, feeding, exercise.
- Partial-care: Partial-care horseboarding businesses usually offer limited care services and require owners to perform some of the daily tasks necessary for maintaining a horse’s health and wellbeing.
- Training and instruction: Horseboarding businesses that specialize in training and instruction offer riding lessons, horsemanship classes and other related services.
- Breeding: Breeding horseboarding businesses focus on producing new horses by breeding specific registered bloodlines.
3. Develop Your Horseboarding Business Plan
One of the most important steps in starting a horseboarding business is to develop your horseboarding business plan. The process of creating your plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.
Your business plan should include the following sections:
- Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your horseboarding business.
- Company Overview – this section tells the reader about the history of your horseboarding business and what type of horseboarding business you operate. For example, are you a full-care facility, partial-care facility, training/instruction business or a breeding business?
- Industry Analysis – here you will document key information about the horseboarding industry. Conduct market research and document how big the industry is and what trends are affecting it.
- Customer Analysis – in this section, you will document who your ideal or target customers are and their demographics. For example, how old are they? Where do they live? What do they find important when purchasing services like the ones you will offer?
- Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
- Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
- Product: Determine and document what products/services you will offer
- Prices: Document the prices of your products/services
- Place: Where will your business be located and how will that location help you increase sales?
- Promotions: What promotional methods will you use to attract customers to your horseboarding business? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
- Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
- Management Team – this section details the background of your company’s management team.
- Financial Plan – finally, the financial plan answers questions including the following:
- What startup costs will you incur?
- How will your horseboarding business make money?
- What are your projected sales and expenses for the next five years?
- Do you need to raise funding to launch your business?
4. Choose the Legal Structure for Your Horseboarding Business
Next you need to choose a legal structure for your horseboarding business and register it and your business name with the Secretary of State in each state where you operate your business.
Below are the five most common legal structures:
1) Sole proprietorship
A sole proprietorship is a business entity in which the owner of the horseboarding business and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.
2) Partnerships
A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a horseboarding business together. The partners share in the profits and losses of the business.
The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.
3) Limited Liability Company (LLC)
A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a horseboarding business include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.
4) C Corporation
A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a horseboarding business is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.
5) S Corporation
An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.
Once you register your horseboarding business, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.
5. Secure Startup Funding for Your Horseboarding Business (If Needed)
In developing your horseboarding business plan, you might have determined that you need to raise funding to launch your business.
If so, the main sources of funding for a horseboarding business to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a horseboarding business that they believe has high potential for growth.
6. Secure a Location for Your Business
Having the right space can be important for your horseboarding business, particularly if you’d like to meet clients there. When selecting a space for your business, it’s important to consider how much space you need and how much you can afford. You may find that renting an indoor or outdoor riding facility or leasing a corner of another horse boarding stable can be more cost-effective than building a facility from the ground up.
To find the right space, consider:
- Driving around to find the right areas while looking for “for lease” signs
- Contacting a commercial real estate agent
- Doing commercial real estate searches online
- Telling others about your needs and seeing if someone in your network has a connection that can help you find the right space
7. Register Your Horseboarding Business with the IRS
Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).
Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.
Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.
8. Open a Business Bank Account
It is important to establish a bank account in your horseboarding business’s name. This process is fairly simple and involves the following steps:
- Identify and contact the bank you want to use
- Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
- Complete the bank’s application form and provide all relevant information
- Meet with a banker to discuss your business needs and establish a relationship with them
9. Get a Business Credit Card
You should get a business credit card for your horseboarding business to help you separate personal and business expenses.
You can either apply for a business credit card through your bank or apply for one through a credit card company.
When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.
Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.
10. Get the Required Business Licenses and Permits
To operate your horseboarding business, you will likely need the following licenses and permits:
- Business License
- Zoning Permit
- Health Department Permit
Nearly all states, counties and/or cities also require:
- Sales Tax License or Seller’s Permit: for selling products
- Zoning Approval: typically at the city or county level, this provides authorization for construction or use of a building or land for a particular purpose
- Food Service, Processing and/or Warehouse Licensing: to ensure safe food preparation
- Fire Department Approval: a process by which the local fire department reviews and approves the installation of a fire alarm system.
Depending on the type of horseboarding business you launch, you will have to obtain the necessary state, county and/or city licenses.
11. Get Business Insurance for Your Horseboarding Business
There are a few types of business insurance that you will likely want to consider for your horseboarding business.
- General Liability Insurance: General liability insurance protects your business from any lawsuits that may arise as a result of accidents or injuries that occur on your property.
- Worker’s Compensation Insurance: Worker’s compensation insurance provides benefits to employees who are injured or become ill as a result of their job.
- Commercial property insurance: This covers damage to your property caused by fire, theft, or vandalism.
- Business interruption insurance: This covers lost income and expenses if your business is forced to close due to a covered event.
Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs.
12. Buy or Lease the Right Horseboarding Business Equipment
There are a few pieces of horseboarding business equipment that you will need in order to get started.
- Tractor: If you’re going to be boarding horses on your property, you’ll need a tractor to help with moving manure and hay.
- Horse Trailer: If you’re transporting horses to and from horse shows or other events, you’ll need a horse trailer.
- Hay Bale Feeder: If you’re going to be feeding hay bales to the horses, you’ll need a hay bale feeder.
- Water Tank: If you’re not using a well or hydrant to provide water for the horses, you’ll need a water tank.
- Horse Stall Panels: You’ll need horse stall panels to create stalls for the horses.
- Horse Grooming Supplies: You’ll need basic grooming supplies such as brushes, combs, and hoof picks to keep the horses clean and healthy.
- First Aid Supplies: It’s important to have first aid supplies on hand in case of an emergency.
13. Develop Your Horseboarding Business Marketing Materials
Marketing materials will be required to attract and retain customers to your horseboarding business.
The key marketing materials you will need are as follows:
- Logo: Spend some time developing a good logo for your horseboarding business. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
- Website: Likewise, a professional horseboarding business website provides potential customers with information about the services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how customers perceive you.
- Social Media Accounts: establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help customers and others find and interact with your horseboarding business.
14. Purchase and Setup the Software Needed to Run Your Horseboarding Business
There are a few software programs that you will need in order to run your horseboarding business.
- A Spreadsheet Program: A spreadsheet program such as Microsoft Excel is essential for tracking expenses and income.
- A Horse Management Program: A horse management program such as Horseware can help you keep track of your horses’ health, weight, medication history and more.
- A Customer Relationship Management (CRM) Program: A CRM program such as Salesforce can help you manage customer information, communications, and sales opportunities.
Research the software that best suits your needs, purchase it, and set it up.
15. Open for Business
You are now ready to open your horseboarding business. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.
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How to Start a Horseboarding Business FAQs
Is it hard to start a horseboarding business?
To start a horseboarding business, you'll need the right equipment, knowledge and resources. But with some hard work and determination, you can make it happen.
If you follow the steps above, you should be able to start your horseboarding business without too much difficulty.
How can I start a horseboarding business with no experience?
If you don't have any experience boarding horses, there are a few things you can do to learn the basics:
- Watch Videos: There are many how-to videos on horseboarding available online. Watch a few to get an idea of what's involved.
- Read Articles: There are also many articles on horseboarding available online. Again, read a few to get an understanding of the basics.
- Take a Course: If you want to learn more about horseboarding in-depth, consider taking a course. This will give you hands-on experience and teach you how to run a successful horseboarding business.
- Contact an Expert: If you still have questions after watching videos, reading articles, and taking a course, don't hesitate to contact an expert for advice. There are many people who are happy to share their knowledge and experience with those looking to start a horseboarding business.
What type of horseboarding business is most profitable?
A full-service horseboarding business is generally the most profitable. This type of business offers boarding, training, and lessons for horses.
Full-service horseboarding businesses require a lot of time and effort to run successfully, but they are usually more profitable than other types of horseboarding businesses.
In addition to offering full-service horseboarding, you can also offer additional services such as horse grooming, horse shoeing, and tack repair to increase your profits.
How much does it cost to start a horseboarding business?
The startup costs for horseboarding businesses range between $10,000 and $100,000. The exact amount will depend on how big you want your business to be, how much equipment you need to purchase, how many horses you plan to board, etc.
What are the ongoing expenses for a horseboarding business?
The ongoing expenses for a horseboarding business include things like utilities, insurance, and repairs and maintenance for equipment. You'll also need to pay salaries for employees (if you have any), and purchase supplies and materials on a regular basis.
Ongoing expenses for horseboarding businesses range between $1000 and $10,000 per month. The exact amount you'll need to pay will depend on how big your business is and how many clients you have.
How does a horseboarding business make money?
A horseboarding business can make money by charging clients for boarding, training, and lessons. It can also make money by selling supplies and equipment to clients, or by providing other services such as grooming or tack repair.
The most common way for a horseboarding business to make money is to charge clients for services rendered. This could include boarding, training, lessons, or any other services you offer. You can also make money by selling products such as food, hay, straw, saddles, bridles, etc. to your clients. Finally, you can offer additional services such as horse grooming or tack repair to increase your profits.
Is owning a horseboarding business profitable?
Yes, owning a horseboarding business can be very profitable.
Horseboarding business owners earnings depend on how successful they are. The more clients they have and the higher-quality services they provide will increase their earnings potential. Additionally, horseboarding business owners often earn additional income through selling supplies and equipment to their customers.
Some of the key things you can do to make your horseboarding business more profitable include:
- Invest in quality marketing and advertising to attract new customers
- Offer a wide range of services to meet the needs of your clients
- Provide excellent customer service to keep customers satisfied
- Stay up to date on industry trends and regulations
- Offer competitive pricing for the services you provide
- Offering add-on services that complement your main offering
- Optimizing your website for SEO to increase online visibility
- Creating a unique selling proposition
- Providing outstanding client service
Why do horseboarding businesses fail?
A horseboarding business can fail for a number of reasons, such as not having enough customers, not charging enough for services, or not keeping up with industry trends.
One of the main reasons that horseboarding businesses fail is a lack of planning. This can include not having a detailed business plan, not doing research on the industry, and not targeting the right customers.
Another reason is a lack of marketing and sales skills. This can include not creating a sales process and not have a clear and strong value proposition.
The last main reason is a lack of financial management skills. This can include not having a realistic budget, not tracking expenses, and not investing in the business.
Who are key players in the horseboarding market?
The horseboarding market is made up of a variety of different players, including small businesses, large enterprises, and even individuals.
Some of the key players in the market include:
- 12 Mile Stables
- Equine Adventures
- Horse Sense
- Pony Express
- The Horseman's Guide
However, there are many other players in your specific target market, and it is important to research the market to identify the key players that may have the most direct influence on the success of your business.
How much should I charge for my horseboarding services?
Horseboarding fees can vary depending on the type of horseboarding services being offered.
However, some common horseboarding fees include:
- Trail rides: $20 - $50 per hour
- Group lessons: $30 - $150 per hour
- Private lessons: $40 - $200 per hour
- Horse boarding: $150 -$400 per month
The best way to determine the right fee for your horseboarding services is to research the rates of similar businesses in your industry, and to also consider the value that you will be providing to the client.
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