business plan for horse stable

Horse Boarding Business Plan Template

Written by Dave Lavinsky

Horse Boarding Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their horse businesses. On this page, we will first give you some background information with regard to the importance of business planning. We will then go through a horse boarding business plan template step-by-step so you can create your plan today.

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What is a Horse Boarding Business Plan?

A business plan provides a snapshot of your horse boarding business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan Horse Boarding Facility

If you’re looking to start a horse boarding facility or grow your existing horse business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your horse business in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Horse Boarding Facilities

With regards to funding, the main sources of funding for a horse business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Personal savings is the other most common form of funding for a horse boarding business. Venture capitalists will usually not fund a horse business. They might consider funding a horse business with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results. With that said, personal savings and bank loans are the most common funding paths for horse boarding facilities.

Finish Your Business Plan Today!

How to write a business plan for a horse boarding facility.

If you want to start a horse business or expand your current one, you need a business plan. The horse boarding business plan template and guide below will help you write each essential section of your own business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of horse business you are operating and the status. For example, are you a startup, do you have a horse business that you would like to grow, or are you operating boarding facilities in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the horse boarding industry. Discuss the type of horse business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of horse business you are operating.

For example, you might operate one of the following types of horse facilities:

Full Boarding : this type of horse business will include all the necessities for the horse as well as a stall and full turnout to pasture.
Pasture Boarding: this type of boarding business focuses on the horse living outdoors in the pasture along with food, water, and a run-in shelter.
Self-Care Boarding: this type of horse business is where the facilities (shelter and a stall) are provided for the horse owner, but everything else is up to the owner, such as feed, bedding, cleaning, grooming, etc.

In addition to explaining the type of horse business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

When and why did you start the business?
What milestones have you achieved to date? Milestones could include the number of customers served, the number of positive reviews, etc.
Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the horse boarding industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the horse boarding industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your horse boarding business plan:

How big is the horse boarding industry (in dollars)?
Is the market declining or increasing?
Who are the key competitors in the market?
Who are the key suppliers in the market?
What trends are affecting the industry?
What is the industry’s growth forecast over the next 5 – 10 years?
What is the relevant market size? That is, how big is the potential market for your horse business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your horse boarding business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: households with income above $75,000, households with income between $50,000 and $75,000, and households with income below $50,000.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of horse business you operate. Clearly, more affluent households would respond to different marketing promotions than middle-income households, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most horse businesses primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other horse businesses.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes landowners with stables, livestock farmers, and landowners with a large pastures. You need to mention such competition as well.

With regards to direct competition, you want to describe the other horse businesses with which you compete. Most likely, your direct competitors will be horse boarding facilities within a few hours’ drive of your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

What type of horse training or boarding services do they offer?
How many horses do they board at any given time?
What is their pricing (premium, low, etc.)?
What are they good at?
What are their weaknesses?

With regard to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

Will you provide services competitors don’t offer?
How often will a horse be examined by a veterinarian?
What service plans/tiers will you offer for the horse owner?
Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a horse business, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of horse business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to horse boarding services, will you provide other services such as premium food, grooming, horse training, horseback riding lessons, etc.?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your horse business. Document your location and mention how the location will impact your success. For example, is your horse business located within driving distance of a large metro area, near a horse training or horse racing facility, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your marketing strategy is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

Advertising in local papers and magazines
Reaching out to local websites
Social media marketing
Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your horse business, including marketing your business, feeding, grooming, maintenance, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to board your 50 th horse or when you hope to reach $X in revenue. It could also be when you expect to expand your horse business to a new market.

Management Team

To demonstrate your horse business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing horse businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in some aspect of the equine industry or successfully marketing small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you board 1 horse at a time or multiple horses at a time? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your horse business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a horse business:

Location build-out including design fees, construction, etc.
Cost of equipment and supplies
Payroll or salaries paid to staff
Business insurance
Taxes and permits
Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your stable blueprints, or the cost of providing resources such as feed, tools, labor, etc.

Putting together a business plan for your horse business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the horse boarding industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful horse boarding facility.

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Other Helpful Business Plan Articles & Templates

Ag Banking Online

Apr 2, 2024

Creating a Business Plan for a Horse Stable: Pro Tips

Starting on a journey to move your passion for horses into a thriving business is both exciting and overwhelming. This article is designed to guide you through crafting a business plan tailored for the equestrian industry.

Whether your dream is to open a boarding stable, run a riding stable, or other services, a well-thought-out business plan is your first step towards success. It not only serves as a blueprint for your business's future but also plays a crucial role in securing equestrian loans and horse farm financing. Let's dive into the why and how of creating a business plan.

Why You Need a Business Plan for Equestrian Ventures

A business plan is essential for any equestrian venture, serving as a vision reflection and a roadmap from concept to reality. It outlines your business goals, growth strategies, and the necessary steps for achievement, crucial for both planning and attracting lenders. This includes market research that shows a deep industry understanding and boosts your chances of getting equestrian loans and financing approval.

Indispensable for starting or expanding your horse business, a well-crafted business plan is the foundation for growth and a key to securing funding, making it not just helpful but essential for realizing your equestrian dreams.

Sources of Funding for Equine Facilities

Securing the necessary funding is a pivotal step in turning your equestrian business dream into reality. While the journey may seem daunting, understanding the variety of funding sources available can pave the way for a smoother ride. Here are some primary sources of funding for an equestrian business:

Equestrian Loans
Personal Savings
Credit Cards

To instill confidence in potential lenders and to assure them that your equestrian venture is not just a passion project but a well-planned, viable business, a comprehensive business plan is essential. It's your key to unlocking the doors to financing.

Benefits of Equine Loans

Equine loans offer several advantages for those looking to start or expand their equestrian business. For example, equine loans can provide funding for a wide range of needs, from purchasing horses and equipment to improving facilities or even buying land. By choosing a product like Legacy Ag Credit's equine loans , you're not just getting financial support; you're also gaining a partner who understands and believes in the potential of your equestrian business.

Crafting a Business Plan for a Horse Stable

Creating a business plan might seem like a daunting task, but it's a crucial step in ensuring the success of your equestrian venture. Here's a simplified roadmap to get you started:

Executive Summary: An overview of your business and its objectives.
Business Description: Detail the nature of your equestrian business and what sets it apart.
Market Analysis: Research and outline your target market, competition, and industry trends.
Organization and Management: Describe the structure of your business and the team behind it.
Services or Products Offered: Explain what you'll be offering to your clients.
Marketing Plan: How you plan to attract and retain customers.
Financial Projections: Provide detailed forecasts of your revenue, expenses, and profitability.
Funding Request: If seeking financing, specify the amount needed and how it will be used.

Understanding these components will prepare you for the next crucial step in your planning process.

What Kind of Horse Haven Are You Building?

Knowing the type of horse business, you aim to create is foundational to your success. This clarity helps in crafting a business plan that resonates with your vision and goals. Consider these questions as you brainstorm:

Are you starting from scratch or expanding an existing operation?
What services will you offer? (Boarding, training, breeding, etc.)
Who is your target clientele?
How will your business stand out in the competitive equestrian market?

Entrepreneurs should have a clear picture of the type of horse business they want to run, as this vision will be a guiding light in their business plan. This level of detail not only helps in securing equestrian business loans but also in laying a solid foundation for the future growth and success of your venture.

Understanding the Equestrian World

Finance underwriters, in particular, look for assurance that you understand the niche your business occupies. They want to see that you've done your homework on the equestrian industry, demonstrating awareness of its opportunities and challenges. This not only helps in securing equine financing but also in crafting a business model that is resilient and adaptable to market changes.

build your horse stable business plan based on the local audience

Meet Your Horse Fans

Knowing who your customers are allows you to tailor your services and customer experience to meet their expectations. It also helps in making informed decisions about your business, from the services you offer to the way you market them. This customer-centric approach not only enhances your business plan but also sets the stage for a loyal customer base. Some questions to ask:

Who are the horse enthusiasts in your area?
What are their needs, preferences, and spending habits?
Are they competitive riders, hobbyists, or families looking for riding lessons?

M aking Your Horse Farm the Best in Town

Understanding your competition is as important as knowing your customers. Identifying both direct and indirect competitors, as well as neighboring horse farms, gives you a clearer picture of the market landscape. This insight is invaluable for your business plan, helping you to pinpoint unique strengths and differentiators that set your venture apart.

Here are a few factors to consider:

Assess Competitor Offerings
Identify Gaps
Leverage Unique Features

Strategic Marketing for Equestrian Ventures

A strategic marketing plan is vital for equestrian businesses, emphasizing the four P's: Product, Price, Place, and Promotion. Tailor these to the equestrian industry to ensure your venture thrives.

Product - Define your offerings, such as boarding, training, or breeding, to attract your ideal customers.
Price - Set competitive prices that reflect your services' value, considering your market and target demographic.
Place - Use your location's advantages, like accessibility or scenic beauty, to appeal to your market.
Promotion - Choose promotional methods, from digital marketing to traditional events, that best reach your audience.

Focusing on these elements helps create a marketing plan that not only engages your target audience but also boosts your business's visibility and appeal.

Applying for an equestrian loan to build a horse stable

S hort-Term Processes and Long-Term Goals

Running a horse business involves a balance between managing day-to-day tasks and keeping an eye on the horizon for long-term aspirations. The short-term processes, such as daily care of the horses, maintenance of the facilities, and customer interactions, are the backbone of your operation and ensure a well-run business.

However, it's the long-term goals that will map out the "big dream" of your business. These might include expansion, increasing the number of horses you board, or adding new services. Setting clear, achievable long-term goals gives you a direction and purpose. It's this vision for the future that will inspire your strategies, help you navigate challenges, and keep you motivated through the ups and downs of business ownership.

Finances Made Simple: A Key to Attracting Equestrian Loans

By creating a comprehensive business plan, you'll emerge as an expert in the horse boarding industry, well-equipped to navigate its challenges and seize its opportunities. You'll not only be ready to secure an equestrian loan for your venture but also to build a thriving and resilient one.

If you have additional questions or need further assistance in crafting your business plan or securing equestrian loans, our team is here to help. We’re conveniently located with several offices in Northeast Texas. Contact us at Legacy Ag Credit to take the next step toward realizing your equestrian business dreams.

Equestrian Business Plan FAQs

Q: what is the easiest way to complete my equestrian business plan.

A: There are Business plan templates available for an efficient and comprehensive business plan completion, streamlining the process and saving valuable time.

Q: What is the Goal of a Business Plan's Executive Summary?

A: The executive summary serves as an introduction, summarizing key aspects of your plan and offering a snapshot of your business to engage potential lenders.

Q: How do horse owners make money?

A: For most people, owning horses is a hobby, and the occupation varies. Some engage in professional equestrian activities and competitions or offer specialized services like training and breeding

Q: How do you create a business plan for a horse stable?

A: When crafting a business plan for a horse stable, emphasize the recreational nature of the business, tailored to individuals for whom horse ownership is a leisure pursuit.

Q: Can you make a decent living with a horse farm?

A: The potential to make a decent living with a horse farm depends on how you structure it. In many areas, horse farms are primarily recreational. Understanding the local market is essential when assessing income potential.

Q: How do you finance your horse farm?

A: Financing a horse farm can be achieved through various means, including personal savings, bank loans, and potentially angel investors. A well-detailed business plan is crucial to instill confidence in lenders.

STALL AND STABLE

Barn — Business — Behavior

Business Plan Guide

$ 48.00

Whether you are thinking about going out on your own or you’re already in business but looking to expand, this guide will help you write a business plan that will be essential to your long-term success.

If you need financing for any part of your business, banks and investors will require a traditional business plan. This guide provides you with the information that lenders want to see.

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STEP 2 of the Stall and Stable Business Planning Toolkit

If you are serious about drawing an income from your boarding, training, or service-based horse business, start with this guide that offers detailed instructions about how to write a business plan that can turn your daydream into your day job.

A long-format business plan is the best way to fully define your business so you don’t waste time, energy, or money as you get started. It will also:

Make you more confident as a business owner.
Help you understand both your personal and financial needs from the business.
Help you manage day-to-day decisions, so that the business part of your barn can run as smoothly as possible, allowing you to focus on what you truly love to do.
And, if you will need financing to get started, a long-format business plan is required by banks, private investors, and sponsors.

This downloadable, 23-page guide provides detailed instructions and examples for each section of a business plan, including:

How to write a great Executive Summary that will entice clients, investors, and sponsors.
Creating a detailed description of your business, including identifying key profit centers around your farm.
Marketing advice, like how to best position your business to your target market.
How to plan for employees.
Financial Projections to help you figure out how much income you can actually make.
Sample Executive Summary (read all about Arched Arabians!)

To complete your Business Planning Toolkit, our Horse Business Financial Template makes easy work of calculating your projected income and expenses.

1 review for Business Plan Guide

R Loucks (verified owner) – May 15, 2022

With the Equestrian Business Plan Guide I have been able to modify and edit my business plan to meet the needs of potential lenders and investors. I wish I had this before I met with my local SCORE office, because while they were extremely helpful, they were not knowledgeable of the horse industry. This guide was way more helpful than the folks I interacted with at SCORE. And I didn’t have to drive an hour and a half out of my way. “ 😊

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