Expert Witness Blog
On July 5, 2010, financial planning experts at Equestrian Professional will begin a three-part seminar series on financial planning for horse professionals. This series will focus on what horse professionals can do to create a secure financial outlook for their businesses and their own financial future.
The Problems
The recession has had a widespread effect on the equine industry. Sales barns and breeders are supporting unsold inventory or are selling horses below cost. Show barns have reduced the number of shows they attend, are competing closer to home, and/or are bringing fewer customers on the road. Trainers and professional riders are implementing new strategies to attract and retain clients: i.e. leases and syndicates have gained popularity. Additionally, some trainers are moving into new markets, like selling online training programs. Boarding stables are dealing with more past due accounts and abandoned horses than ever before. Rescues are over burdened with unwanted horses and their donors are tapped out.
For more, see dressagedaily.com.