By Nikki Alvin-Smith
Boarding barn businesses new and old are always looking for ways to boost the profit margin. Driving traffic to the barn door is always a tough part of the marketing strategy but once a prospective client is on site considering placing their horse in your care, it’s essential you’ve attracted them with enough positives in what you can offer to get them to sign up for boarding.
With all the local competition vying for the same boarding dollar, this stage can be difficult enough to achieve. But once they’ve signed your boarding contract, placed their deposit and turned up with the equine resident at the end of a rope, your next challenge is making sure you keep them happy so they stay. No stage can be taken for granted if you want to develop a successful business. And by successful, I mean a safe caring environment for horse and rider that makes money and a business that is a pleasure to operate.
Even though larger established horse facilities may have a steady stream of clients knocking on the barn door, there is always an attrition factor to consider. And as running costs continue to rise sometimes barn owners are not making the profits they used to and can be unaware of where financial losses are occurring or know what to do about them. Here’s some salient advice on how to build your boarding business better, from the ground up.
Offer A Mix Of Boarding Styles
Not every horse owners can afford or wants a full-service boarding barn. And even if they start out that way, there will be occasions when their horse may need a less intensive schedule of care. Times such as a horse being rehabilitated from a minor injury; an animal aging into semi-retirement; a young horse being added to a owner’s performance horse lineup.
While it is commonly thought a full-service boarding option will entice affluent clientele, it is also not always the best profit center within the business model. It is more labor intensive and costs more in supplies such as bedding and hay than a rough board option. And don’t forget the capital expense of providing the stall itself, the electric and other services such as hot water and bath stalls.
By creating a broader bandwidth of service options you can transition existing clients into less costly boarding or more expensive boarding options as it suits their needs. This will save you costs on recruiting new clients and build brand loyalty.
Do More Than You Say
A business basic to build brand loyalty is to over-deliver and under promise your services. If you build these ‘extras’ as costs into your fee schedule then you won’t lose money, but you will gain important positive experiences for your client. And be certain that what you do for one client you also do for every client. Playing favorites is a fast route to causing unnecessary resentment among your boarders.
Nobody likes to be hit with unexpected expenses so also be clear and upfront about what is covered in your boarding fees and what is not. Be as consistent as possible with what you do and how you do it, and if something is going to change give people plenty of advance notice.
While including a few inexpensive extras such as blanket swapping, daily horse hoof picking or free trailer storage on site will be appreciated, there are many other opportunities to add revenue to the top line.
Suggested Revenue Streams
Once the horse has arrived at your barn there are many offerings you can incorporate into your service structure to encourage a bigger spend. Check out these proven productive ideas.
Literal Barn Building Boosts For Boarding Operations
If you are in the position of currently projecting a new barn build with a plan to develop a boarding business then there are many ways to get ahead of the game when it comes to functional barn design that will serve the business model best.
For the horse professional the performance horse barn may incorporate many niceties to make life easier and to fulfil their dream horse barn design. But whoever is building the barn and for whatever purpose, it is important to consider all design options before making a final choice.
Always choose substance and functionality first and foremost. Think about all the details. For example: hanging chandeliers may look pretty but require cleaning and may need tying off from gusty winds that channel through the barn. Keeping an open mind when horse barn buying is a smart thing to do.
Nailing Down The Business Plan
Aside from a career as a horse professional I have an extensive resume in corporate finance and experience operating various businesses. Every business will fail if they don’t do two things; Control their costs and ensure they income is more than their total outgoing expenses. Not surprisingly many people start a business because they have a passion for a particular pastime or an interest in a certain industry. But amazingly although they have zero experience in accounting basics, don’t know how to read let alone create a balance sheet or how to nail down a business plan, they don’t seek to learn these necessary skillsets before embarking on running their own businesses. Which will almost inevitably result in the business running them.
The horse barn will likely be the 2nd most expensive capital purchase after the property itself. So it is critical that your cost to build the barn is nailed down. The singular best way to obtain a new barn with a ‘to the penny’ quote is to work with a trusted modular barn building brand that will deliver everything as promised, with clear cut contracts and payment schedules and accurate timelines for delivery and set up. From Barndominiums to run-in sheds and an extensive array of barn design options in-between, you can shop nationwide without limitations on styles and sizes of buildings based on your location.
And if you are approaching the ‘world of high finance’ as I like to call it, for a loan to acquire the horse housing structure, then you are going to need a concrete business plan to present to the financial institution. And even if you aren’t seeking funding, a business plan is an essential component of putting a new business together.
There’s no point in making things up to tick the boxes or estimating everything, the plan needs to be complete and one that you know you can deliver. Because otherwise your business is doomed to fail before you even begin. This means knowing all costs as ‘to the penny’ as possible. And regardless of how good this plan starts out there will be circumstances down the road in business when you may still need to pivot the original business mission to continue to make money. But at least start out on the right ‘hoof’.
There are many ways to fund your new horse business. And here are some other ideas for funding your horse barn building project.
Take Home Message
However much homework you do at the outset of beginning a new business there will always be changes along the way in the industry environment that will necessitate being adaptive and staying ahead of the challenges. But take heart, there is always a solution to any problem. And if you can’t find the answer look to your more successful competitors and see how they have managed to overcome similar issues. Networking and collaboration with your peers can be not only useful from a business standpoint but can also build strong personal relationships that will help you navigate other aspects of your life and provides an avenue for you to help them too. We all have our strengths and weaknesses.
As the English poet John Dunne wrote in 1624,
” No man is an island,
Entire of itself:
Every man is a piece of the continent,
A part of the main.”
We are all part of the horse community. And in community there is power.
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Feel free to contact Nikki Alvin-Smith for further information and high-res photos.
About Horizon Structures: One horse or twenty, there’s one thing all horse owners have in common…the need to provide safe and secure shelter for their equine partners. At Horizon Structures, we combine expert craftsmanship, top-of-the-line materials and smart “horse-friendly” design to create a full line of sheds and barns that any horse owner can feel confident is the right choice for their horses’ stabling needs.
All wood. Amish Made. Most of our buildings are shipped 100% pre-built and ready for same-day use. Larger barns are a modular construction and can be ready for your horses in about a week. All our barn packages include everything you need to move your horses right in.
Horizon Structures also sells chicken coops, equine hay feeders, greenhouses, dog kennels. You can also find garages, sheds and outdoor living sets available at Horizon’s sister company Stoltzfus Structures.
Headquartered in South-Central Pennsylvania, Horizon Structures, LLC was founded by Dave Zook. Dave was raised in the Amish tradition and grew up working in the family-owned shed business. He started Horizon Structures in 2001 in response to an ever-increasing customer demand for high quality, affordable horse barns. Over the years, the company has grown and now has several build shops located throughout the US enabling them to service customers nationwide.
For additional information about the company or their product line, please visit their website at https://www.horizonstructures.com
About Nikki Alvin-Smith:
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