This web site is primarily about riding instructors, but it is also about numerous other aspects of the horse business—ways in which equestrian professionals can make money. One of those methods is through equine acquisitions, which means either buying or selling horses.
Horse dealers, while they can make a fine living, assume significant risk when they aquire new stock. They gamble that the horse they purchase will eventually turn a profit, and if he doesn’t, they lose whatever money they invested. This is why, when it comes to equine acquisitions, it is safer to help clients buy and sell their own horses.
When you help clients buy horses, you earn a commission on each sale. For example, if your client is looking for a horse and you find an acceptable candidate worth $10,000, you might earn $1,000 with a 10 percent commission. This is both a lucrative way to spend your time and a helpful service you provide to your customers.
Putting in the Leg Work
In order to make money helping clients buy horses, you must actually pur forth significant effort to ensure they wind up with an appropriate mount. If you take the easy road and throw at them a list of horses you pulled from the classified ads, you probably won’t enjoy much repeat business.
Your job in this capacity is to find the closest thing to a perfect horse for whatever client has solicited your services. Everyone makes mistakes and errors in judgment, but you must do whatever you can to find the best horse on the market.
This might indeed involve browsing the newspaper classified ads, but it should also include checking other sources for available stock. For example, you can buy horses from:
- The Internet;
- Other clients;
- Friends;
- Colleagues;
- Horse dealers;
- Rescue facilities; and
- University equestrian teams.
You might not have to exhaust all of those resources to find a great candidate, but you should be willing to explore all the avenues available in search of the right equine companion for your client.
Narrowing the Scope
A dedicated horse business owner will learn how to define what his or her clients are seeking in terms of horses. Two riders looking for reiners might have completely different animals in mind, so it is up to you to feret out exactly what pushes their buttons.
For example, one client might be looking for a horse under five years of age with now competition experience, while another might want a schoolmaster or equivilent whose age is bolstered by numerous wins.
The basics of narrowing the field—breed, color, height, weight, discipline and price range—are not enough to match a rider with his or her horse.
Ask your client if he or she is willing to travel out of state (or even out of the country) in search of the right animal. Find out if there are any reservations regarding temperment; some riders are timid and will therefore not feel comfortable on a troublemaker.
Trying the Horses
Horse business owners who want to make money through equine acquisitions need to travel with their clients to view and try different horses. In fact, I recommend you be the first one to ride the horse when you visit a new farm because it is on your recommendation that the horse will or will not be purchased.
Prepare a list of questions to ask potential sellers about the animal, and advise your client to conduct a thorough pre-purchase exam with a trusted veterinarian.
It’s easy to soil your reputation in the horse business if you give bad advice or make dangerous pairings between horses and riders. Before you offer this service, learn as much as you can about buying horses and be prepared to put in significant effort.
About the Author: Laura Jane Thompson is the Editor in Chief of Riding Instructor University and the Feature writer for the horses section at Suite101. Follow her EquiTips on Twitter.