If you work with horses or a horse business, you already know the answer to this one! Horse careers and horse businesses have an extra ingredient that many traditional businesses do not have. Unless your equine business coach or equine business manager understands this extra ingredient, they will try to structure your horse business in the same way as a traditional business.
The nature of business is to make a profit, however if you own a horse business or plan to have a career with horses then you may be looking for that profit in another form!
Why work with horses?
Are you like the majority of the people who own horse related businesses?
If you are like most people, you would like to work with horses or have a business with horses, because of the enjoyment you will have from the time spent with horses.
You would prefer to spend time with your horse or do other horse related tasks rather than going to work or spending time in a different business.
This is the difference when you have an equine career or equine business. The joy of waking up in the morning knowing that you will be spending the day in an environment you enjoy, probably an environment where you would be even if you weren’t receiving any monetary reward.
If you work in the horse industry you can make money with horses and you can also enjoy your time at work!
Other Benefits of Horse Careers or Horse Businesses
If you are already a horse business owner or have a career with horses, then there is a strong possibility that you did not start your horse business without considering the other benefits that your equine career will bring.
While you should plan to make a profit, you probably started your business, or started your career in the horse industry because you have a passion for horses and you want to be in a situation where that passion is satisfied.
It is often possible (but check with your accountant first) to set up your business so that the profits support your equestrian competition ambition or long term horse breeding strategy.
The first business needs to be profitable and some of this extra money goes towards paying for horses and other competition related expenses or for breeding stock and related expenses.
This will show that the business as a whole is not as profitable, but as I said before … that profit can be in another format!
Horse businesses without horse contact
Your equine business may not be directly in contact with horses (like owing a saddlery or horse feed shop), but there is a satisfaction in meeting people who have horses and helping them with their equine needs.
As you continue your career in the horse industry you may develop your equine knowledge into an area of equine specialisation. (It could be saddlery, horse feed or another product necessary for horses.) If you also gain a passion for teaching people about your specialisation, people will come to you for advice and your equine customer base continue to grow through word of mouth.
We horse people are a passionate bunch when we get together to talk about horses and horse related subjects!
What if you don’t have a passion for horses?
Many other businesses are started because people see an opportunity in the market place to make money. It doesn’t matter if it is services, goods or both, if there is an opportunity there then an entrepreneurial person will fill the gap and create a business.
There are a small minority of people who commence their horse business without background knowledge of horses. They may see a business opportunity or be guided in the direction of a career working with horses because there is work available. They could also be ‘pushed’ in that direction by a well meaning horse loving parent or partner.
Some horse business owners will develop a genuine appreciation for horses and the people who work with horses. Others will leave the horse industry simply not understanding why there are some people in this world (particularly those with horse careers) who are simply passionate about horses!