Are you about starting a horse boarding business? If YES, here is a complete sample horse boarding business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a horse boarding business. We also took it further by analyzing and drafting a sample horse boarding business marketing plan template backed up by actionable guerrilla marketing ideas for horse boarding businesses. So let’s proceed to the business planning section.
Starting a horse boarding business requires proper planning and management in order for it to become profitable. However, experience is a very vital component and so any entrepreneur looking to start this business must either have extensive experience working with horses or be ready to hire those that have the experience.
The facility to be used for this business must be properly equipped with the required equipment and easily accessible for staff and clients. The facility must also be one that properly complies with state and local regulations and must be deemed conducive for both horses and staff.
Just like any business, starting a horse boarding business requires taking an in-depth evaluation of the business. However, it might not be easy having to evaluate a business you haven’t gone into or haven’t experienced in one way or the other.
Which is why any serious entrepreneur who intends to go into this business needs to engage a business consultant who thoroughly understands the business and will carry out a critical evaluation that will help determine if it is worthwhile going into the business at all.
The business consultant will also proffer strategies that should make the business stand out from others. Another important aspect of any start-up is a business plan. Below therefore, is a sample horse boarding business plan template;
A Sample Horse Boarding Business Plan Template
1. Industry Overview
Entrepreneurs in the horse boarding business require not only a high level of experience and knowledge in managing horses but also in managing people as well. Also, for a business of this nature to succeed, it must be located in a good location, have strong financial resources as well as the right mix of facilities and services for the market.
The major clientele for a horse boarding business are horse owners and so it is usually ideal for the boarding facility to be located 20 miles from a major population centre with a high population of these horse owners.
The demand for horse boarding services is usually due to several factors such as the numbers of horses in that location, the income levels of the horse owners as well as the number of horse lovers or those who ride horses or leisure or for competitive purposes.
The industry isn’t one that has any company with a dominant share in the industry even though it is regarded as a $2 billion industry. Growth is however on the negative for this industry as the years between 2010 and 2015 saw a negative growth of 2.4%.
The numbers of horse boarding facilities in the united states of America are over 176,000 that has employed more than 187,000 people.
The changes in the downstream demand for horses as well as services for these animals will be a positive factor that will propel the growth of the industry between the period of 2016 to 2022. The growth in the economy will ensure that demand is adequately stimulated to increase the revenue for this industry.
The growth in the economy will also see more individuals get employed and have disposable income to invest in racehorses, spend at horse tracks, and also purchase horses for recreational and other purposes.
According to IBISWorld, the growth that was experienced by this industry was erased following the recession that the United States economy went through. This is because customers during the recession were unwilling to purchase horses either for recreational of professional purposes.
This caused a plunge in demand which saw revenue falling in 2009 and continuing its freefall till 2012. Even though the industry has begun experiencing a slight growth, it is yet to fully recover as revenue was expected to fall annually by 2.4% costing $1.6 billion.
2. Executive Summary
Quest Horse Boarders, LLC is a standard and leading facility that is located in central Oklahoma, here in the United States of America. We are in business to cater to the needs of casual and professional clients, and will offer our various services which include horse sales, consultancy and training services in addition to our boarding services.
Our vision is to be the preferred horse boarding facility here in Central Oklahoma by 2022 for all our clients all over the United States of America due to our standard operations and quality services and to achieve this, we intend to offer quality and standard professional services and also build the best business structure.
Oklahoma is regarded as the fourth city for horse lovers all over the country and so we are strategically located in an area that affords all horse lovers easy access to our facility. Our location is in a safe and secure environment and is also conducive for staff and horses.
We offer a quality business standard and can be trusted to deal transparently with our various clients. We have high ethics when it comes to caring for the horses and we ensure that all our amenities are above board.
We are concerned with our business structure and so we have hired the best and competent staff to help in handling several of our operations and services here at Quest Horse Boarders, LLC. Our employees are not only professionals but understand the industry and how best to ensure that our business attains its desired goals and objectives.
We will ensure that our employees are well paid with a welfare package that would rival those of their colleagues in similar start-ups here in Oklahoma. We will also ensure that our employees undergo training as well to ensure that their skills are enhanced.
We have an excellent customer service and that is already gathering rave reviews as the best in the industry particularly for a start-up and this is because we know our important our customers are to us and intend to ensure that we retain at least 80%.
Finally our owners have the right experience to ensure that the business achieves its desired goals and objectives. Matthew has over 20 years experience in this industry, while his wife Victoria has over 15 years experience in management level.
3. Our Products and Services
Even though Quest Horses Boarders, LLC has a core service it intends to offer to its various clients, there are also other forms of products and services that will be offered so as to meet the various needs of employees. These other services and products that will be offered are part of our strategy to create multiple sources of income so as to boost our earnings and ensure that our bottom line can sustain our business for a long time to come.
Even though we are exploring all other avenues of making profit, we intend to ensure that all avenues used are legitimate according to the permissible laws of the United States of America. Therefore below are some of the products and services we intend to offer;
- Membership lease
- Sale of feed and hay
- Sale of tack and horse supply
- Contract services
- Horse sales
- Special events
- Sale of literature
- Consultancy and advisory services
- Training
4. Our Mission and Vision Statement
- Our vision is to be the preferred horse boarding facility here in Central Oklahoma by 2022 for all our clients all over the United States of America due to our standard operations and quality services
- In order to achieve our vision, our mission is to ensure that we operate a clean, secured, and healthy boarding facility through the offering of competitive pricing, professional services and a full service facility that will meet all the needs of the horses that board with us and their owners’ wants as well.
Our Business Structure
Having a solid business structure is very important if one intends to start and run a business properly without hitches. It is therefore important to us to ensure that our business runs smoothly and so we intend to hire the right employees who are not only professionals but competent, and who also thoroughly understand the business and will help us achieve our intended goals and objectives.
We intend to treat our employees fairly by ensuring that they work in a conducive environment and that they undergo continuous training to enhance their skills.
Our management team will have a stake in the business and this will enable them take the business seriously as their own. This will also make them understand where we are going and ensure that they communicate our policies to lower employees whilst also ensuring that they these policies are fully implemented.
We intend to offer other services in addition to our boarding facility service and this will mean that we will need to hire various employees that will help us handle all these services.
All our employees will be well paid with a performance appraisal carried out every now and then to ensure that hard-working employees are well rewarded as they should be. Therefore, below is the business structure that we intend to build at Quest Horse Boarders, LLC;
- Chief Executive Officer
- Admin and Human Resource Manager
- Boarding Manager
- Marketing Team
- Accountants/Cashiers
- Customer Service Executives
- Purchasing Manager
- Security Guard
- Driver
- Cleaner
5. Job Roles and Responsibilities
Chief Executive Officer
- Drafts strategies and policies that would affect the direction of the boarding facility
- Ensures that drafted policies are well implemented and that ineffective policies are modified or removed
- Sources for high level clients on behalf of the boarding facility
Admin and Human Resource Manager
- In charge of sourcing for the right employees on behalf of the organization and ensure that they are well oriented and properly inducted.
- In charge of the welfare packages for employees and ensures that they are well coordinated
- Ensures that the administrative functions of the business runs smoothly
Boarding Manager
- Coordinates all activities that would affect the horses from their boarding, training, grooming and down to their feeding
- Carries out inspection of facilities and ensures that repairs are effected where necessary
- Ensures that all the activities in the facility align with the core principles and are up to standard at all times
Marketing Team
- Carries out continuous research in order to determine new target markets for the boarding facility
- Carries out direct marketing on behalf of the company
- Drafts the right marketing strategies that would be used to bring forth new clients to the business
Accountants/Cashiers
- In charge of preparing the financial records and statements on behalf of the company
- Ensures that the business does not default in loan repayments
- Prepares tax documents and ensure that the correct information is submitted to the relevant authorities
Customer Service Executives
- Possesses updated knowledge about the industry as well as the company so as to give clients the right reply
- In charge of replying enquiries, orders, and complaints from clients and ensuring that they are all promptly attended to
- Keeps an updated and accurate customer database on behalf of the company
Purchasing Manager
- In charge of sourcing for reliable vendors and suppliers on behalf of Quest Horse Boarders, LLC
- In charge of procuring needed supplies and essentials for Quest Horse Boarders, LLC
- Reviews the supply contract for vendors and suppliers and ensures that they are in line with company protocols and policies
Security Guard
- Ensures that the premises is secured at all times for staff and horses
- Patrols the perimeter of the facility and ensures that there are no break-ins by vandals
- Carries out other duties as might be determined by the admin manager
Driver
- In charge of ensuring that all the supplies needed by the boarding facility is brought in at all times
- Monitors the loading of supplies into the truck and ensures that they follow proper documentation
- Carries out light maintenance on the vehicle in the event of a break down
Cleaner
- Ensures that the stalls and other parts of the facilities are kept clean all the time
- Ensures that the administrative offices and conveniences are kept clean
- Carries out any other tasks as might be determined by the boarding manager
6. SWOT Analysis
Due to the fact that we expect to excel in this business, we have decided to hire the services of a reputable business consultant who thoroughly understands the horse business and will help us know what will be needed to run a standard horse boarding business.
The business consultant who also understands our business environment due to the fact that they are native to Oklahoma will look through our business concept to decide if our business will thrive, make profit and also favorably compete against other competitors in this line of business.
Due to our request, the business consultant was able to take stock of our strengths, weaknesses, opportunities and threats and use that to determine what we were likely to face here in Central Oklahoma as well as in the whole of the United States of America as well. Therefore, the results of the critically conducted SWOT Analysis on behalf of Quest Horse Boarders are as follows;
- Strengths
As a relative new business, we have several advantages working in our favor. We have a strong relationship with several associations and this means we are correctly positioned in getting reliable vendors for all the necessary services and products we intend to offer.
We also have a full team of professionals that understand horses thoroughly and how to care for them. All our employees take good care of horses and do not subject them to cruel treatment. We also offer excellent customer care to our clients who have enabled us to retain a high number of our clients and make them not only loyal to us but to also refer our business to others.
Finally our owner has over 20 years experience in the field that will ensure that we not only attain our desired goals and objectives but that we remain in business for a long time.
- Weaknesses
Our weakness stem from our relative newness in the market, and the limited budget we have in terms of vigorously promoting our business to allow our target market become fully aware of us. Also, we have a limited capacity as to the number of horses we can board or a certain period of time.
- Opportunities
Horses are used for different purposes, recreation, sports and work; and so various opportunities are opened to us in this market as there are various clients that would make use of our facilities. Also, the fact that we will be boarding more than one horse would mean that our fixed costs will remain the same no matter the number of horses we have.
- Threats
Even though every business either start-up or fully operational will face threats every now and then, we are fully prepared for that which we are likely to encounter. The threats that we would likely face in the course of running our business include the arrival of new competitors into the same location where we are operating from here in Central Oklahoma.
Another threat we are likely to face include having challenges health wise with the horses we board and getting used by owners; a downturn in the economy which will result in less people wanting to own horses much less spend on boarding facilities. However, in order to combat this threat, we intend to offer other services as well.
7. MARKET ANALYSIS
- Market Trends
There are over 9 million horses that are being used in the United States yearly for sports and recreation purposes, which has not only led to a strong demand for the horse boarding business but one that is growing steadily as well. The horse boarding business is usually for private individuals and commercial owners.
Most people buy a horse but have nowhere to put them, also most people need somewhere their horses can be trained, while commercial owners want a place where the horses can get quality care.
Those in this business usually offer additional services to their core service with the intention of gaining more customers that would increase revenue and also boost the bottom line of the company. These services can be hosting special horse-related events, selling horses and participating in auctions on behalf of their clients, or selling other horse related products, in order to gain a huge share of the market.
The industry is experiencing intense competition and so entrepreneurs have raised the standards in order to favorably compete and also gain a huge share of the market.
Most owners have deployed the use of technology so that clients that are not so close can keep up with happenings in the industry as well as in the business. Also, operators in this industry are seeking various avenues to increase sales by getting involved in outdoor events and activities.
8. Our Target Market
Determining our target market is very important as it allows us better understand who our target market is while also helping us draft effective strategies that would help us gain a huge share of the market. We know that our target market is determined by our location and we would love to point out that we are located in a strategic area that would allow us have several opportunities to tapping into other markets that are around our location.
In correctly determining our target market, we have conducted a market research that would help identify our target market and their characteristics, so we not only know what they expect from us but what strategies would better work on them.
Therefore, from our analysis we are in business to offer our horse boarding facility services to the following group of people;
- Horse owners
- Corporate Executives
- Celebrities and important personalities
- Horse riding sports men and women
- Individuals
- Veterinary clinics
Our competitive advantage
Quest Horse Boarders, LLC is a horse boarding facility that is not only established to make profit to horses that are used for recreation, competition and other purposes here in Central Oklahoma. We have been established to ensure that we offer all our clients, standard and quality service, the kind that cannot be offered by our close competitors, which has allowed us to have a competitive edge over our competitors.
Part of our competitive advantage is in the offering of additional services to our core boarding service. These services include sale of horses and other related products. We also intend to offer membership lease as well as consultancy services and trainings to our various clients and their horses, which will allow us have the edge we deserve over our customers.
We are using employees that are professionals and are highly competent. Our employees not only understand the industry and all the trends within the industry, they also understand our core principles and have the required experience necessary to ensure that our business can acquire its intended goals and objectives.
This has made our employees see themselves as stakeholders in our business and allow them become fully committed. Another advantage we have over our competitors is the fact that we are paying our employees very well especially when compared to similar start-ups such as ours across the industry.
We also have great welfare packages for our employees as well as other incentives especially for those that are very committed and have shown the required productivity necessary to ensure that the business attains its desired goals and objectives.
Our final advantage over our competitors come from the fact that we take good care o our customers hereby allowing us retain a huge number of these clients as compared to our competitors.
Our customer care executives are always updated about trends in the industry as well as changes in the company’s policies and so use this to ensure that all our clients have the right information. Also, our customer database has enabled us to be able to follow up loyal customers and give them advice and tips wherever necessary.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Just like any other business, Quest Horse Boarders, LLC is established with sole aim of making profit from its horse boarding business.
Due to this, we are going to ensure that we achieve our aim of making profit in this industry by offering our clients several services. Quest Horse Boarders, LLC intends to generate income by offering the following products and services;
- Membership lease
- Sale of feed and hay
- Sale of tack and horse supply
- Contract services
- Horse sales
- Special events
- Sale of literature
- Consultancy and advisory services
- Training
10. Sales Forecast
The fact that 9 million horses are used in the United States for sports and recreation annually, means there is a strong demand for boarding facilities, where horses can not only receive proper instruction and training as well as board. This means that the demand will continually increase.
We are strategically located in Central Oklahoma and are therefore fully positioned to get a huge share of the market especially as Oklahoma is the fourth highest city where horse lovers reside as well as visit, leading to the possibility of a huge demand for boarding facilities.
However, to ensure that we carry out an accurate analysis of the projected revenue that our business would make, we hired the services of a reputable business consultant to use data and assumptions from similar startups such as ours and conduct an analysis that would help us determine our chances of not only generating revenue but reaching out target in as few months as possible.
Below is the sales projection that was conducted on behalf of Quest Horse Boarders, LLC which was based on several assumptions and data;
- First Fiscal Year-: $290,000
- Second Fiscal Year-: $580,000
- Third Fiscal Year-: $990,000
N.B: It should be noted that the above sales projection which was conducted for a three year period was based on the several assumptions and data that was available during this period. Some of the assumptions that were used were based on the fact that there won’t be an arrival of a major competitor in the same location offering same services that we were.
Also, the sales projections were conducted based on the fact that there won’t be an economic downturn during this period that would likely affect the figures; as any change in the above assumptions would cause an increase or decrease in the projected sales figures.
- Marketing Strategy and Sales Strategy
No business can survive if it does not adequately market its business thoroughly, because not only is revenue generated for the company through marketing, awareness is also created for the company as well. This is why companies not only take time to draft their marketing strategies but also ensure that they create a marketing budget in order to effectively ensure that drafted strategies are implemented.
In order to ensure that we effectively market our business, we have hired the services of a marketing consultant who would help us conduct a thorough market research that would allow us not only penetrate but also gain a fair share of the market.
Our marketing team will work with the consultant to ensure that whatever strategies would be adopted by the company would be one that is in line with our core values and objectives.
We intend to ensure that we make use of technology in deploying several of our marketing strategies as this method has been shown to achieve a wider result and is also considered less expensive in the long run. Below, therefore are some of the strategies that would be used by Quest Horse Boarders, LLC to market our services;
- Place adverts in local newspapers as well as on radio and television stations here in Oklahoma
- Ensure that our marketing team engage in direct marketing
- Introduce our business formally to several stakeholders in the industry
- Ensure that our business is well listed in online and offline directories
- Throw a big party to create awareness for our business and generate interest as well
11. Publicity and Advertising Strategy
Every business requires publicity whether it is a new start-up or existing business. Publicity is the art of promoting a business in such a way that the intended target market is aware of the business and is so attracted so as to seek to patronize such services.
Publicity also allows a business to generate the intended revenue needed to not only sustain the business but to also allow it thrive and compete favorably against its competitors in the same industry.
In order to draft effective publicities, we intend to hire a brand consultant who is not only reputable and resides here in Oklahoma, but also understands the business sufficiently in order to help draft strategies that would allow the business attract the right sort of clientele to our horse boarding business, while perfectly communicating our brand effectively.
Therefore, the strategies we intend to implement at Quest Horse Boarders, LLC in order to boost our awareness and increase our revenue include;
- Place billboards in strategic locations in order to create awareness for our horse boarding facility
- Attend horses’ fairs and events in order to network with owners and horse lovers
- Place adverts in local newspapers, as well as on radio and television stations here in Oklahoma
- Use our official website to interact with horse lovers and inform them of industry trends as well as our services
- Use social media platforms such as Facebook, Twitter and Instagram to connect with horse lovers
12. Our Pricing Strategy
Giving the correct pricing is very important for a horse boarding facility, because the pricing should reflect quality and yet fair competition; this is why we would need to conduct extensive market research before deciding on what the rates for Quest Horse Boarders, LLC should be.
Since we intend to offer full boarding facilities as opposed to pasture board, we expect our clients to understand why our prices might differ from those of our competitors that offer pasture boarding as we would explain to the advantages of using our boarding facilities.
To however attract more customers to our business, we intend to start with an initial discount for a period of three months as well as other incentives that would ensure that we not only get in our first clients but that they also help refer others to our boarding facilities.
We wish to however assure our stakeholders that no matter how much incentives or discounts we offer, we would still have a solid bottom line throughout these periods.
- Payment Options
Quest Horse Boarders, LLC understands the fact that due to the fact that we would be offering several services that might bring in diverse customers, it would affect the ways by which we would get paid, and so we have come up with different payment options that would suit our various clients and our business as well. The payment options that we intend to offer include;
- Payment via cash
- Payment via bank draft
- Payment via check
- Payment via credit card
- Payment via online payment portal
- Payment via Point of Sale (POS) Machine
13. Startup Expenditure (Budget)
Starting and running a standard horse boarding business requires that one spends the bulk of the generated capital into procuring several facilities that will help the business till it is able to generate the needed revenue that is needed to sustain itself.
Therefore, we expect to spend the bulk of our capital in getting a truck, procuring several equipments as well as paying the salaries of employees as well as several utility bills. Therefore some of the areas we expect to spend the bulk of our capital on at Quest Horse Boarders, LLC are;
- Fee for registering the business in the United States of America – $750
- Licenses, zonal permits, accounting software and other legal expenses that would be incurred during the registration process – $1,250
- Insurance coverage (General liability, property insurance, and workers’ compensation) – $3,500
- Cost of hiring a business consultant – $2,500
- Cost of building the required facility to board the horses – $30,000
- Operational costs for the first six months of running the horse boarding business (employee salaries and payment of bills) – $110,000
- Cost of purchasing equipment in bulk (such as saddles, straps and several other equipment) – $5,000
- Cost of procuring feeds – $5,000
- Marketing and publicity expenses (for grand opening party as well as normal business operations) – $5,000
- Other start-up expenses which includes furniture, stationeries, phone, and computer – $5,500
- Cost of purchasing an official lightweight truck – $20,000
- Cost of launching a website – $500
- Cost of throwing a grand opening party – $3,000
- Other miscellaneous expenses – $8,000
From the above break down, we would need an estimate of $200,000 if we intend to fully start and successfully run our horse boarding business here in Central Oklahoma.
From the above break down, the bulk of the capital will go into paying salaries and settling utility bills for at least 6 months and also building facilities for use. Another aspect that will take a huge amount of our capital is having to buy a vehicle for use.
Generating Funding / Startup Capital for Quest Horse Boarders, LLC Business
Quest Horse Boarders, LLC is a horse boarding facility business that is fully owned and operated by Matthew and Victoria Quest.
The business has long been started by Matthew’s grandfather and so the couple is not seeking for any external partners or investors for their business, which is why the sources of capital for this business has been restricted to just a few ones. The areas where Matthew and Victoria Quest intends to generate their capital include;
- Generating part capital from personal savings
- Sourcing for soft loans from friends and family members
- Applying for loan from the bank
N.B: From our personal savings, we were able to generate the sum of $30,000, and also got the sum of $20,000 from close friends and family members.
We approached the bank for the sum of $150,000. All the documents have been signed after a five-year agreement repayment plan at the rate of 3% was agreed upon especially as we have several assets in our favor. Due to this, we expect that the money should enter our account by the end of the week.
14. Sustainability and Expansion Strategy
It is very important that we sustain the future of our business and these can be done by ensuring that we hire professional staff that thoroughly understand the business and know what to do at the right time; offer top notch services that cannot be found elsewhere, and that we take excellent care of our customers and make them loyal to us.
If the business structure of a startup or running business is faulty, it puts the entire business in jeopardy. We believe in going the extra mile to ensure that we hire the right employees into our business.
We would seek those who are not only professional and competent but also those who thoroughly understand the business and what we stand for and seek at all times to ensure that we are positively communicated to our target market.
We are willing to ensure that our employees are well paid and the work environment is not only conducive but easily accessible for them. We would also ensure that they undergo continuous training that will not only enhance their skills but boost their productivity for Quest Horse Boarders, LLC as well.
Offering quality service to our various customers will be part of our core policy and the services we intend to offer will be one that is not only top-notch but cannot be easily offered by our competitors in the same location. All horses stalls, grooming and feed will be of the highest quality and the horses will undergo qualitative training in the hands of professional groomers and trainers.
Finally, we know the importance of clients to our business and we are willing to ensure that our clients get treated to the best service in such a way as to not only enable to them to become loyal to us but also allow them refer others to our business, thereby increasing our bottom line and improving our visibility in the marketplace.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting feasibility studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
- Purchase of trucks: Completed