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Horse Business Management, Protection and Profitability
"I'm a great believer in luck and I find the harder I work, the more I have of it." - Thomas Jefferson
This department is specifically for equestrian professionals who want to find meaningful information, tools and resources that will help them run their businesses more easily, profitably and successfully!
New Articles are added weekly and often daily. We are committed to bringing you the most up to date information and best business strategies available. We encourage you to email us with any suggestions, requests or feedback.
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Getting Support -- Identifying and Using Key Horse Business Supporters
Pam Saul
There are so many areas that you as a business owner need to address that don't include touching a horse. Legal structure, insurance coverage, and taxes are just a few. How can you possible know everything? You can't. What you can do is enlist the help of industry professionals to work with you as a key business supporter. . . . More
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On the road again...
Carol Gordon, CPA
With show season firmly upon us, it is a good time to discuss which expenses which are incurred while you are showing "away from home" are deductible. In general, travel expenses are deductible if they . . . More
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Equestrian Business Entity ABC's
Carol Gordon, CPA
SP, LLC and Subchapter S -- what does it all mean and why do you need to know? These are several of the different types of legal entities that businesses adopt which allow the business to take on an existence apart from its owners, though the owners still control the business. The type of entity that you choose will affect your . . . More
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What's NOT Deductible - Tips for U.S. Horse Businesses
Carol Gordon, CPA
Last month, I discussed items that are deductible on your business tax return. This month, I'm going to mention some items that are not tax-deductible for your business. Let me just repeat one idea from last month -- In order for an expense to be deductible, it must be both ordinary and . . . More
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What Expenses Are Tax Deductible for a U.S. Horse Business?
Carol Gordon, CPA
With the close of 2009 and tax time right around the corner many equestrian professionals are getting their taxes together and trying to make the most out of any and all possible deductions here is a handy alphabetical list of . . . More
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Save Time and Money! Get Your Horse Business Tax Documents Organized In Just A Few Easy Steps!
Carol Gordon, CPA
You need to get your records organized. But you open the file/shoebox/drawer and there is just so much there, in no particular order. That looks like a whole day's worth of work and there are horses to be ridden, lessons to be taught and stalls to be cleaned. So you put away your good intentions for another day. It doesn't have to be that way. Here's how to get organized for your 2009 tax return without spending lots of precious time sitting at your desk. . . . More
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Is Your Horse Business Feeling the Squeeze? 15 Tips for Getting Paid
It is with more and more frequency that horse professionals are asking us how to get their clients to pay on time and sometimes get paid pay at all. Here are a dozen or so quick tips to help you get paid. We hope you will all add your own comments i.e. what's working for you and any suggestions you may have for your fellow members in the comment area below. . . . More
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Horse Business Income Diversification Chart
One of the most important steps to developing additional income streams is to successfully intergrate them into your business. Use this chart to help you identify cross promotion opportunities and . . . More
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Roping In Some Extra Cash - 15 Equestrian Affilate Programs
One way to diversify your income without adding to your body's physical workload is to participate in affiliate programs. Affiliate programs essentially pay you a commission on sales from customers that you refer through a link placed on your website, newsletter or email etc.. - Here is a list of Equestrian related affiliate programs for you to consider . . . More
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Grieving the Loss of a Horse
By Rebecca Cagle, BS, CPLC
There are two concerns I want to address in this article; first the process of grieving the loss of a horse due to fire or other causes, and second that there is some evidence that horses go to heaven. Both issues may be important to those suffering through the loss of their equines and other animals precious to them. . . . More
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Horse Syndication -- or "The more we get together, the happier we'll be"
Carol Gordon, CPA
Don't have $150,000 for a Grand Prix horse capable of competing on a national level? Just find 14 friends each with $10,000 to spare and create a syndicate. Is it that easy? No, not really. But syndicates, which have been popular for some time for race horses and breeding, are becoming a useful way to finance the purchase of a competition horse. . . . More
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Independent Contractor or Employee -- Who's Who in Your Horse Business?
Carol Gordon, CPA
An independent contractor (IC) is someone who provides services to others, outside the context of employment. An employee is a person who provides services to a companyon a regular basis in exchange for compensation (including trading work for free/reduced board, lessons, etc.) and . . . More
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Download: Re-Investing in Your Knowledge & Health
Knowledge and Health are perhaps the two most under utilized business investment tools and yet when properly managed they definitely bring in the highest return on investment. Use these two downloads to create a plan that works for you. . . . More
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Quick Equestrian Energy Fixes
Energy and motivation are crucial to success but often the long hours and 7 day work week of the horse professional makes them hard to maintain. Developing a few Quick Fix Strategies can make all the difference. . . . More
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Praise for MORE EQUINE LAW & HORSE SENSE
by Julie I. Fershtman, Attorney at Law
“This book is a comprehensive and valuable resource for people in the horse industry. It is written in a user-friendly format. It gives examples of problems that people experience b . . . More
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Equestrian Accounting 101
Pam Saul
Get the answers you need quickly with this accounting terms "cheat sheet" you'll find a handy list of accounting terms and definitions. . . . More
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Horse Business Profit Margin Calculator
O.K. This is totally cool!! Use this online calculator to check your profits and profit margins in individual areas - like Training versus Sales or Boarding versus Lessons and in it's entirety. Use it to test new ideas and different business scenarios. Use it to help price your services, products and more . . . More
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Horse Business Assessment & Profit Development Plan
If you know you need to fine tune your business or marketing plan but hate the thought of all the time it may take you to get it done OR have never written down your business plan but know you need one - This is the right download for you. A series of key questions help you identify important strengths and correct weaknesses in your business. . . . More
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DOWNLOAD: Horse Business Budget Worksheet
How will your Horse Business perform in 2010? Most people are in the Horse Business for the horse part not the business part. However without your business your horse career may not be possible. Use this download to chart a course for success in your business - one that truly supports your horse career. If you hate numbers don't worry! We've done most of the work . . . More
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7 Steps to Recession Proof Your Equestrian Business
Agility and control are hands down the two best attributes of owning a small business. They enable you to react very quickly to economic challenges and opportunities. Your ability to successfully use these two attributes is essential in order for you to protect your business during . . . More
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Creating Riding Instructor Guidelines
You know what you would do but how do you get your instructors to follow suit? Here is an example to give you a few ideas for creating Instructor Guidelines for your assistants and riding school instructors. Feel free to copy the parts that work for you and edit the parts that don't. You can download this document from our Download Library as a PDF or as a zipped word file for easier editing. Guidelines are also handy for instructors who are filling in for you out so you can take a vacation! . . . More
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Build Your Equestrian Career by Re-investing in Yourself
Perhaps the most important thing you can do to build your Equestrian Career is to consistently re-invest in your business and yourself. The best way to do this does not require putting money in the bank but by making a commitment to regularly re-invest in your knowledge and health. Knowledge is perhaps the most under utilized career investment tool and vibrant health is generally under appreciated -- unless you don't have it! . . . More
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The Value of Your Equestrian Customers
Do you truly value your customers? The lifetime value of a customer may surprise you. Every one has had favorite clients and not so favorite clients, services they love to provide and ones they don't. But Love or Love Not figuring out your customers life time value is essential to providing good service and the success of your business . . . More
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September 2010
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"I can't say enough about how valuable your site is to our barn."
So-Cal H/J Trainer
"Elisabeth's development of the "Equestrian Professional" Website brought a much needed financial template to the U.S.E.A. Instructor Certification Program. We on the committee thank her for coming to New Orleans and speaking at our annual meeting. Her insight into the financial matters that are so necessary in the equestrian community will be invaluable to professionals at all levels. We recommend her highly and believe her innovative website will set a new standard of excellence."
Brian Sabo - United States Eventing Association ICP Committee Member
"The first download I did - nailed exactly what was going on with me!"
J. Foreman
Las Vegas, NV
"I signed up a couple months ago and found that just taking the time to read through their stuff puts me in the mindset to think wisely about my business, In fact, I made a pretty sketchy little marketing plan and shortly thereafter I sold three good horses and pulled myself out of debt, right when the economy has been tanking. This kind of business management tool is only what you make of it, but Elisabeth McMillan and her staff have done some really good work on behalf of horse professionals"
Eventing Professional - Baltimore, MD
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