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What to Charge for Board

Apr 25, 2018

Horse Boarding – What to Charge?What to charge is the most important financial decision you need to make if you are in the horse boarding business. If you get it wrong, you won’t be boarding horses very long. If your price is too high, you won’t have enough customers to make money. If your price is too low, you will lose money and burn through all your cash.There are many types of horse boarding; stall only, stall with full care, stall with a run, paddock, pasture, etc. There ...

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Cash – the life blood of any horse business!

Mar 08, 2015

Every business has a profit pencil, but no business as a cash pencil. What does that mean? What it means is, profit is an accounting opinion and cash is fact. You can fool yourself and others about your profit, but you can’t fool anyone about your cash. You can under or over report your profit by moving expenses and income to a different reporting period. But, you always need to know if you have enough cash to pay you help, pay yourself, purchase your feed in two weeks and make that ...

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Financial Transactions are More Than Financial Records!

Nov 02, 2013

The majority of horse business people think their financial transactions are financial records they only need for filing their taxes, and occasionally satisfying their banker. While financial transactions are a starting point, and in some cases all you need for your taxes, they are not sufficient when your tax authority or banker requests supporting documentation. And don’t get caught in the ‘receipts are documentation’ trap! Receipts are only a small part of the supporting ...

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Are You A Horse Business Manager?

Jun 30, 2013

The last thing on the mind of most people in a horse business, or considering starting one, is business management and the business management discipline required to be successful. Hopefully, I can convince you why business management should be at the top of your list. The business management discipline component is your responsibility. Business management discipline is mostly acquired and the majority of us need to work at it every day!The failure of most horse businesses can be attributed to ...

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So you are in the horse business or thinking about it!

Aug 14, 2013

When most people start a horse business the last thing on their mind is business management. Hopefully, I can convince you why business management should be at the top of your list before the end of this blog. Now I have your attention let’s break a horse business down into three simple principles.Marketing and Sales: No customers, no business.Income and Expenses: It’s not what you make, it’s what you keep.Business Management: If you can’t measure it, you can’t ...

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A Business Look At Branding Your Business

Jan 23, 2015

Branding is one of the most important activities within any business. Branding generates market awareness. Market awareness generates potential customers. Potential customers become customers. Customers buy your products. That was easy! Now the world knows about you, wants your product, you’re having fun making money, and life is good! From 50,000 feet you might think that is all that needs to happen if you want your business to become an icon in your market space and have the world ...

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Selecting A Horse Management System Is a Major Business Decision!

Jun 03, 2013

Operating a successful horse business is a laborious task by any measure. Not only are the days long and the work hard, but the ever increasing cost in an unpredictable market only adds to the difficulty and risk.One of the most important initial business decisions you will make is which horse business management system do you need to help you manage your business? And yes, you do need one! There is just too much at stake to try and manage your business using scraps of paper and or depend on ...

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