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Women Owned Horse Farms: A Formula for Success. Sandy Hamm, Research Associate University of Arkansas, Division of Agriculture Owner/Manager, Sandy Hamm Horses. Economic Impact. $102 Billion Industry $32 Billion Recreation 9.2 Million Horses 1.4 Million Jobs

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women owned horse farms a formula for success

Women Owned Horse Farms:A Formula for Success

Sandy Hamm, Research Associate

University of Arkansas, Division of Agriculture

Owner/Manager, Sandy Hamm Horses

slide2

EconomicImpact

$102 Billion Industry

$32 Billion Recreation

9.2 Million Horses

1.4 Million Jobs

Source: American Horse Council, June 2005

why horse farming
Why Horse Farming?
  • Agritourism - Horse Recreation industry generates $32 billion annually
  • Small Farm Advantage – acreage requirements are minimal
  • Urban Sprawl – Agritourism prospers with city growth
why women owned
Why Women Owned?
  • Women run farms increased 58% from1978 to 1997 (2002 census of Agriculture)
  • Historically women have operated small acreage livestock farms (ERS/USDA)
  • The overall increase in equine competition sports encourages women owned farms
initial investment
Initial Investment
  • Farmland
  • Quicken Books
  • Website www.sandyhammhorses.com
  • Equipment
financing
Financing
  • Business Plan
    • ‘A Must Have’ to secure financing
    • Strategic planning for horse business
    • Business goals
  • Lending entity
boarding16
Boarding
  • Flourishes with urbanization
  • Small farm advantage
  • Who is your target customer?
    • Performance horse owner
      • Large initial investment
      • Stabling and limited turn-out, labor intense
    • Trail and pleasure horse owner
      • Content with paddocks and turn-out sheds
      • Happy to ride in meadows and on trails
boarding what is important
Boarding – What is Important
  • Contracts
    • Used to secure agreements
  • Nutrition
    • Know how to feed the different types of horses
  • Specialize in grouping horses
    • 3-4 in a pasture
    • All eat similar ration
    • Personalities
  • On sight caretaker
sales marketing renewable horses
Sales & Marketing – Renewable Horses
  • Specialty Niche Market - Giving retired thoroughbred race horses a second career
  • Reaching Your Target Customer
      • Riding Lessons, Trail Rides
      • Club participation
      • Working Students
sales marketing renewable horses24
Sales & Marketing – Renewable Horses
  • Advertising
    • Word of mouth
    • Website
    • U-tube (video)
    • Horse rental
    • Horse shows
riding lessons28
Riding Lessons

Useful Marketing Tool

Lessons Buy Board

riding lessons29
Riding Lessons
  • Low-cost supplement to farm income
    • One lesson horse & schooling tack required
    • Your time
      • 1985 - $25/one hour
      • 2008 - $35/half hour
  • Tax deductions can apply
    • Equipment, feed, hay
  • Certifications available
    • Teaching and Training
summary
Summary
  • “Business success is based on 2 main criteria: Fair Prices and Good Service” (Horse Economics)
summary31
Summary
  • Track daily costs
  • Monitor grain and hay prices closely
    • Adjust feeding rations when needed
  • If selling horses, watch break-even point
    • Be ready to drop price and sell
  • Stay on top of current farming practices and trends by attending classes and reading
  • Consult a tax accountant for savings tips
references suggested readings
References & Suggested Readings
  • O’Brien, Catherine E., “Horse Economics”
  • Olsen, Lisa Derby, “Blue Ribbon Business”
  • ERS/USDA “Amber Waves” , issues Sept. 2006 & Dec. 2007