Its a funny thing that after all these years things don't surprise me as much as they used to when it comes to our barn and business. It really was no a big deal anymore because I have learned that this is part of business ownership and the longer you run a horse business the more you learn to roll with what life throws at you.
No two years will ever be the same
I believe once you have gone through two or three years of running your horse boarding business, you will start to have a real good feel for the cost of everything on your farm. If you are conservative and put money aside (even if it is a small amount each month) then when you have unexpected expenses, it won't break you.
No two years will ever be exactly the same when it comes to running your operation. You will have years where you spend more on electricity and then some years where you spend the money you saved on electricity on bedding. Some years you will spend less on hay and then you might spend more on grain or even even water if you get charged for water. You will have years where you spend very little on repairs and maintenance and then you will have a year where everything needs to be fixed and updated all at the same time.
I encourage you to start a business savings account for expenses and that will help you get through those expensive times. I also know as you gain more experience running your barn and how your operation works that you will start to take it in stride when there is a change in expenses and start to see them coming ahead of time. I knew with the warmer winter and the horses being in so much that we were going to be using twice as much shavings at our barn. Our electric bill would be so much lower and the money transferred from electric to shavings. I didn't need to worry or panic about it because I have learned it is all part of running our boarding barn. The longer you run your boarding business the more you will start to understand where your money is going from year to year.
The first two to three years will most likely be the most difficult years of your business because you are going to experience many expectant situations. It is really impossible to see the complete picture until you go through all four seasons a couple of times. Be conservative in your spending during those early years and that will help you get through the lean times. Then as you settle into a business routine you will be able to start upgrading and spending a little more here and there.
Don't go spend your "extra" money too fast
Don't count the money that you think you will be saving on one thing to buy something new or upgrade. Keep that money for unexpected expenses that will happen in another area of your barn. Believe me when I say, it will happen. Being smart and conservative in the beginning will make a huge difference on how you weather the first few years.
If you are new to my blog, then welcome! I wrote my newest book to give you an in-depth look into the business of boarding horses and all that it entails. This post today is one small example of what my new book addresses. If you are boarding horses or are planning on it, please check out, "A Step By Step Guide To Starting And Running A Successful Horse Boarding Business." It is a very comprehensive book on boarding horses and covers every part of it from building your barn or stable to solid barn management. I wrote this book because I realized there is an information gap when it comes to this subject and my goal is to help others so they don't make all the mistakes I made when we first opened our boarding facility. I want you to be prepared for the crazy and wonderful new career you are going into.
I wish you many blessings in your horse business.