Posted by Loren MN on June 09, 2009 at 12:31:42 from (64.65.174.118):
In Reply to: I think I've had it posted by Jason, NW Ontario on June 08, 2009 at 20:27:33:
I would first sit down and figure out your costs, etc., and look at your business plan before starting a fight with your wife. Approach her slowly about changing how the operation is run, don't just tell her that all the horses have to go or else. This is serious stuff that involves both of you sharing a lifestyle that you dreamed of, so be very careful taking random advice. After you review the profit & loss numbers, work through them WITH YOUR WIFE to determine your course of action.
I looked at your website, and it looks like you have a nice setup there. Figure out what your costs are for producing hay, and then figure out how many of your own horses you can feed. You didn't say what your 7 horses are for; do they have specific uses or disiplines? Maybe focus on one discipline, like dressage or hunter/jumping, and keep two lesson horses for that and sell the rest. (The buckskin for sale on your website is a beauty, looks just like my quarter horse.) Are all 7 yours, or does that include boarded horses?
I feed two horses on our farm, and one bale a day of grass/alfalfa mix keeps them in nice condition through the MN winter. I plan on 300 bales per year with them pastured in summer, and sell the rest to the stable where we take lessons. Figuring 1/2 a bale per horse per day, feeding them isn't that bad if you keep the number of animals manageable. Look at your options for hay. Would it be cheaper to buy some locally instead of hauling your own over a long distance?
People are still taking lessons; maybe you need to improve advertising to show what you have to offer. Are you boarding in stalls or pasture? Stalls are much more work, and really not good for the animal. Keeping them together in a paddock would be less work. For 7 horses, put out 2 bales in morning & 2 in the evening. Doesn't need to be much more complicated than that.
Maybe you can reduce your rates to be more competitive and get more clients. Around here, pasture & outdoor paddock boarding is around $160 to $190 per month, while stalls are around $300. If you offer stalls only, you may get more boarders by instead offering pasture for half the price. Increase your advertising as a farrier outside of your farm. You should be able to get some OK side income if you are good and get repeat customers.
Nobody said farming is easy or will always be fun, whether it's horses, cows, or chickens, or just crop farming. You just need to figure out how to keep it manageable by determining your goals and develop a plan IN WRITING on how you will get there. Don't know about Canada, but in the US, you are supposed to show profit at least 2 out of 5 years (equestrian may be more like 3 out of 10 years,) but even if you don't, you can get through a tax audit if you have a written plan showing how you intend to make the business profitable. Even if you show a loss, there may be tax benefits to that as well.
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