Just like any business, your horse breeding farm will need to comply with current laws and regulations. It may feel like a bit of a minefield to begin with, but it’s important to be clear on what you need to do and when to ensure your business is compliant. If you’re not already, take some time to get yourself up to date with all applicable requirements before you put your plan together.
You’ll need to know what kind of services you’re going to be offering, how many horses you intend to stable, and your target customers. For example, will you be offering riding lessons? If so, will you cater for children or disabled riders? Once you have a clear idea on what you’ll be offering, you’ll be able to seek advice on current regulations that may impact your business.
Your horse breeding farm will only be as successful as the running of your stables, so investing in stable management from the very beginning is key. Will you need to hire staff to assist with the stable management or are you planning on doing it yourself? Think about the number and breeds of horse you’ll welcome and the services you’ll offer, as these will help you to organise the right level of stable management.
Whether you’re building stables from scratch or leasing an existing building, you’ll need to invest in high quality equipment. This may be one of your biggest start-up costs, but opting for higher quality items that will perform well for longer can save you money in the long run and improve the experience for your equines and their owners.
Equine owners will know that you never forget a negative stable experience, so the reputation of your new business could well depend on getting this aspect of your farm right. Once your stable buildings are ready for business, they’ll need experienced equestrians to help with the day to day running and keep your horses in good health.
Starting your own horse farm may well be a dream come true, but it’s vital that you separate your love for all things equestrian from your new business when you’re working out those numbers. Creating an equine business plan before you do anything else will help you to understand the practical steps you’ll need to take to get things up and running.
Even the most promising businesses have failed because of small oversights that can have a huge impact on profits, so taking your time early on will help set you up for success. You may have spent your whole life around equines and know everything there is to know about caring for them and looking after a stable but running your own horse riding business or horse farm for the first time is still going to be a learning curve. Take time to do your research, work out what you’ll need, how much you’ll need to invest and realistic timescales for each stage of the process.
Think about your own experiences of using horse riding stables and work out what your business can deliver that they didn’t. When you have a robust plan in place, you’ll have a clear idea of what you need to do to get things going. Make sure you have a clear idea of your prospective customers before you start putting your plan into action, as you need to ensure your services are going to meet their needs.
With so much to think about and all the outgoings that come with setting up a business, it can be easy to shelve some of the admin until things are up and running. Bear in mind that adequate horse farm insurance could be crucial to the success of your horse business if things don’t go as planned. Adequate horse farm insurance can include cover for your horses, your farm buildings, any employees, and things like public liability cover if you’re dealing with the public on your premises.
Towergate offers horse insurance that can be tailored to you and your horse. Call for a quote, or to ask any questions in relation to your horse insurance enquiry, on 01536 486060. Alternatively, read more about our horse insurance and what we can cover.