Livery yard owners, how many of you operate as a true business?

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barkinghorse

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As the title says really,
Was wondering if you just have stables that you rent out, or whether you run it as a full blown business with all the insurances.
No reason, just am looking at a property with significantly more stables than i need and wondered whether to rent them out for pocket money.
 
for me - it is and isnt run as a business!

the horses come before making money - we want a happy yard for horse and owner - we arnt out to make money - my reward is that my horses are happy there (we have fab facilities!) a lot of yards are after every penny - well for me - as long as it pays or nearly pays for itself thats all i want! (its hard to make it pay/make profit as the rent i pay is very considerable!)

however - the accounts are completed and filed annually with the accountant for tax purposes - we have all the relevant insurance etc. so its run as a business should be.

i would never consider running a yard without insurance - yes its expensive but worth every penny in todays society!
 
about right - you may well run it as a 'proper' business but doesn't mean to say you make any money - esp. if you have a number of your own horses to fund as well ;-))
 
i would be wary about renting out for pocket money , you could land a whole heap of trouble probably despite good intentions if not careful

in most areas you need planning permisiion to operate as a livery yard , the council will then want business rates , the taxman will want his share of the profit & quite possibly a part of your home could end up being a busines asset in the eyes of the revenue with a potential capital gains tax liability upon eventual sale , all eat away that 'pocket money'

add in an irate livery customer if something goes wrong & you have no insurance & you could well easily have more trouble than it is worth!!

sorry to be such a sceptic , i have a spare stable at home that over the years i could have filled a dozen times over but just think it's not worth the hassle
 
oh yes !!

just put another of my mares in foal.....waiting for 2 week scan on 15th to see if AI has taken ;-))

another potential mouth to feed !
 
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