I tried to find books on business plans for the horse industry back then but couldn't find anything. There are many books on how to put a business plan together but none on creating one for the business I was going into which was boarding horses. Nine months later with many hours of work put into it, I had a business plan. I wasn't sure at the time if it was going to be good enough or look professional enough for the banker but I was going to give it a try.
Now when I talk to young people one of the first things I try to encourage them to do is take some business classes at college. It is so vital in this day and age of business and I also tell people that doing the business plan was the best thing I ever did because it truly opened my eyes to our business and what it was going to cost to keep it running. I now believe that putting together a business plan for any horse business is the most important and best foundation you can have for starting a business.
I now believe that putting together a business plan for any horse business is the most important and best foundation you can have for starting your business.
What a business plan does is it digs deep into the heart of your business and doesn't leave one area unchecked. If you really want to see your horse business in a whole new light, then put together a business plan and it will change how you look at your horse business. I will guide you through each section and you will learn what each section means and what the bank is looking for. Here are some of the areas you will learn about:
- Mission statement
- Company Summary
- Start Up Summary/Expenses
- Market Analysis Summary
- Service Business Analysis
- Competition and Buying Patterns
- Strategy and Implementation Summary
- Competitive Edge
- Sales Forecast
- Management Summary
- Start-Up Funding
Don't let the business plan stop you from achieving your dream. You can do it and after it is finished you will be so glad you put one together. I sure was.
If you are new to my blog, then welcome. If you are thinking about starting a horse business or are already in the planning stages, I encourage you to check out my book, "What it takes to start and run a horse business." This book is about my families journey into starting Vinland Stables in Neenah, Wisconsin and what it took to get our business off the ground. We started with nothing but empty farmland and learned many business and life lessons along the way through the mistakes we made and the trials we went through. You won't find a more honest book about starting a business and getting through the first couple of years as business owners. Don't let a business plan stop you from achieving your dream.
I wish you the very best in your horse business,