There are more than 7 million horses in the United States, according to the American Horse Council Foundation’s national economic impact study. And of those, approximately three million are used for recreation, one million for showing, two million for activities such as farm labor, rodeos and police work, and one million for racing. The same study reveals that the agribusiness of horses has greater impact on the U.S. economy than film, railroads and even tobacco. All of this to say, the equine industry is big business.
If your passion for horses is currently in the hobby stage, consider these options for turning that passion into your next business venture. If your time and resources allow it, an equestrian business might be the dream job you’ve always wanted.
Offer Horseback Riding Lessons
Teaching newbies how to ride a horse makes for an ideal small equestrian business that could, over time, turn into a full-time gig. It’s also a relatively inexpensive business to launch, given that you can use your own animals or perhaps partner with another horse owner. The average hourly rate for riding lessons: $50-75.
Open Your Stable Up as a Horse Boarding Business
If you already have the space on your ranch, then opening up your facility for other equine owners to board their horses is a no-brainer. You can offer month-to-month leases or book year-long tenants. Determine ahead of time what services you will provide and which are included as part of the boarding fee.
Offer Horse Show Prep Services
Do you have a knack for horse braiding? Getting horses show ready can be quite the endeavor. If you have braiding skills, you may be able to work with other stables or individual horse owners to help get their horses looking their best pre-show time.
Get the Right Coverage
All equestrian business insurance is not created equal. Talk to a Farm Bureau agent to discuss customized equine coverage that meets your needs.