Business Question!

[ponygurl]

I am taking an Equine Business Practices class, and we have to write out a full-fledge business plan. My"imagionary" business plan is for a Miniature Horse training facility:

- possibly boarders - maybe 15?

- 20-30 training horses

- my horses: 2 breeding stallions, 7 broodmares, and then a show string of around 5.

This is just my rough draft; since I will be starting from scratch, I will probably have 20 training horses. I don't know about the boarding horses - I'm not quite sure I'd get very many mini boarders...

SOOO my question is, I need to figure out my insurance - I emailed 2 companies but I don't know if/when they will get back to me. If anyone knows, what is the average monthly insurance cost? I figured my maintence cost would be about $300 a month - that will be for machinery, gas, any broken fencing/equipment. What have you guys found to be the average? Thank you so much! I know some of this information amy be a little personal, but if you could just give me a rough estimate that would be awesome!

 

[bevann]

I am taking an Equine Business Practices class, and we have to write out a full-fledge business plan. My"imagionary" business plan is for a Miniature Horse training facility:

- possibly boarders - maybe 15?

- 20-30 training horses

- my horses: 2 breeding stallions, 7 broodmares, and then a show string of around 5.

This is just my rough draft; since I will be starting from scratch, I will probably have 20 training horses. I don't know about the boarding horses - I'm not quite sure I'd get very many mini boarders...

SOOO my question is, I need to figure out my insurance - I emailed 2 companies but I don't know if/when they will get back to me. If anyone knows, what is the average monthly insurance cost? I figured my maintence cost would be about $300 a month - that will be for machinery, gas, any broken fencing/equipment. What have you guys found to be the average? Thank you so much! I know some of this information amy be a little personal, but if you could just give me a rough estimate that would be awesome!

that figure sounds very low to me especially if you are going to have that many horses on the property.You will have lots of mowing, manure removal, etc.I would double or triple it especially if you will be having employees(they always tear up stuff)

 

[Marty]

Its not realistic. How can one trainer have that many horses in training at once and do a good job? Same with boarders. There is way too many horses there. You cannot breed, show, train and board all these horses by yourself unless you plan on adding hired help which will cost you out the ying yang. Go much smaller.

You also own too many of your own horses, and that is cutting into your profits big time.

You should change it up to a realistic number of training horses. Those ARE your boarders too so you don't need to take in horses for just boarding also. Then, those horses should be insured by their owners, cutting down on your insurance.

You can then stand one or two stallions of your own but be sure to insure them and that money can just be gravy.

When I first started dabbeling in training while married to husband X #1 known as Bigfoot, I drove his dragline and broke the gear head which was $15,000 to repair. Once we got it repaired and I promised to stay off of it, I then drove it into the lake and sunk it by accident. That was a really big expense. Got to watch out for those goobers who do things like that with your stuff.

Good luck!