Budgeting for Horse Barn Owners
Whether running a private operation with a few horses or a large boarding facility, the thought of budgeting can send some farm owners into a mental tailspin. The task can seem tedious and time-consuming, so they avoid it, figuring out how to manage things financially one step at a time. But for a commercial horse facility owner, having and sticking to a budget can be crucial to staying afloat. And for any horse owner it can be freeing, in that it allows you to make financially sound decisions on matters such as setting board rates or choosing a time frame for making big purchases.
Barn owners are subject to the same economic challenges and hardships as owners of any other business; when fuel prices go up, for instance, so do expenses such as costs for transporting supplies (in the barn owner’s case, feed and bedding). Daily wear and tear on facilities takes its toll, and equipment must be repaired and replaced so it remains in safe working order. Plus, horses are known for their destructive habits and can easily upset the barn budget apple cart when they kick, chew on, or break things.
A practical barn owner and/or manager that’s both creative and diligent in overseeing facility expenses can provide a safe, functional, enjoyable facility, while also being profitable.
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