Can you really make money from horses??!

jessjc

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So, I have a bit of a dilemma. I have been riding a horse part-time for a year or so. Recently the owner broke her leg, and so I have been riding the horse full time. She is a grade A showjumper, and I have worked hard to get her fit, and we are finally understanding eachother and starting to be able to jump a bit bigger and competing more seriously. Currently the owner is paying her expenses, and I just ride and pay for lessons and shows.

I am moving house, and so not close enough to the yard to keep on with the current arrangement. In addition to this, I have been riding a 4 year old which I have been really enjoying, who has a lot of potential, and would make a fantastic project.

So, these are the options:
- I move the horse and pay for it all myself, just for a few months (big expenditure for not much gain in the long-term)
- I buy the youngster and take him, stopping the arrangement with the other horse (unhappy owner plus a lot of hardwork and opportunity for bigger classes missed but project/investment gained)
- I work out a business plan, where the older horse is an advert for my riding and the younger a project to bring on and sell. I have worked out the costs, and there is a large outlay, especially as I don't have my own equestrian facilities so would have to pay livery, and would have to sell the youngster fairly quickly to make some money back.

I feel happier with a business option, as then it's not just huge expenditure just for a bit of fun and a few bigger classes, but just wondered if you had any idea of how I can make it financially viable?

Any experience in producing horses? There is not a shortage of horses. There are a few people I can get unwanted horses to bring on without paying to buy them, just the cost of keeping is so high! Argh... A wonderful opportunity but a lot of money - what should I do??!
 

Wagtail

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I don't think there is any money in producing horses at the moment unless you have your own facilities, grow your own hay and have free bedding (such as if part of a farm). Other than that, you have to become semi famous I think, or at least have built a reputation up over many years. Sorry, but in today's climate I wouldn't touch it as a way of making money with a bargepole. As a way of paying for your own hobby, on the other hand, then fine. When we first moved here I tinkered with the idea of buying a few ex race horses and retraining them to sell on. I was well practiced in retraining them for others, but realised there was no money in it, even having my own place. I therefore decided to open as a livery yard. My hourly rate is still WAY below the minimum wage! :D
 

jessjc

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I think I was a little deceptive with the title.

I do really mean covering the costs of a rather expensive, but highly addictive hobby which would make more sense than just spending thousands for a bit of fun. Just wondering what the best way to do it would be?
 

team barney

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Depends what you are doing.

Livery
Training
Backing
If you have the facilities, in my opinion you can make a living doing the above for other people. Not necessarily a great living (well if you are doing what you love it is great, but the monetary side might be a little lacking) but you could make a living.

Buying and Selling,
producing your own horses,
bringing on ex-racers ect.
Very hard to make a living from this, in fact it would be very hard just to make a profit even if you did have your own facilities. To do this successfully I think you have to be able to see the animals as assets rather than equines. They can't have the best of everything if you want to make money from them. For example unless you had unlimited funds it would be very hard to make sure that they all had a perfectly fitting saddle ect. If one got ill you could have to decide if it was or wasn't financially viable to spend the money on saving them, things like this would greatly put me off becoming a horse dealer.
 

jaquelin

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To make a viable business in horses you would need to be to be doing more of what you are doing - most producers, etc have lots on the go, so each transaction adds up.

I think you are looking at covering your costs, which just doing the two you would not. If you could add riding a number of additional horses to the two you mention, then you might be able to break even. If you could get the 4YO cheap, bring it on within a year and sell for quite a lot more, then you may cover your costs.

I suggest you work out the cost for running the two for a year, figure out what that is, and then work out a price for the 4YO that would cover that. Then aim to sell 4YO at that price. If that works, repeat next year, adding two 4YOs.
Good luck!
 

Spring Feather

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Yes you can make a living from horses providing; it is on a large scale, that you own your own land and suitable facilities, that you have a good reputation, that you breed/buy/produce quality horses, that your facility is in an accessible location and that you are competent in most spheres of horsemanship. In your personal situation I would not expect you to make money but you may cover some expenses.
 

jessjc

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We all have to start somewhere though! And if it can cover the costs for the first year and then start to make extra in successive years to be a bigger venture, then in a few years time have my own property, then a small venture can become a larger one and start to make a profit. It just depends on the ratio of risk to cost to benefit which is associated and how it is managed.

In terms of saddlery etc, I am lucky in that I run a small saddlery business, from which I can get tack at cost price, which helps a bit.

All good comments though - thank you!
 
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