You can’t do everything on your own. Eventually, you’re going to need the expertise of another horse business owners to make one of your ideas work, and this isn’t a bad thing.
Indeed, teaming up in the horse business is a great idea. Two minds are better than one, to hit you with a cliché, and you can reach farther with any great new service if you’ve got a willing partner to stand by your side.
Take, for example, a horse show. You can host a horse show on your own, advertise it to the public, and hire employees to help you pull it off. But might you draw more competitors if you hosted a horse show with another horse business owner? Not only would your clients enter, but his would as well.
Plus, you’ve got another person to help you plan, organize and execute the horse show. Maybe he has some great ideas to draw a bigger crowd or offer better prizes. You’ll have to split the profits, but you might actually come out ahead.
The same is true for riding instructors. I’ve always encouraged my students to take riding lessons from other instructors. While I’m confident in my abilities, I don’t know everything—and you don’t either—so I know they can benefit from instruction from someone else every once in a while.
Talk to other riding instructors in your area and see if they would be willing to “trade” students every six months or so. You go to his farm and he comes to yours, and everyone benefits. You might lose a few students who like his teaching style better, but you might gain some of his.
But I Don’t Want to Share My Profits!
This is probably the argument that’s running through your mind. After all, what riding instructor wants to lose students by exposing them to a different teacher?
This is an unfortunate side effect of partnering with other horse business owners, but it can actually work to your advantage.
Do you really want to teach a student who doesn’t feel like she is getting the full benefits from riding instruction? Wouldn’t you rather turn her loose and attract other students who might be a better match for your teaching style?
As I mentioned yesterday, you don’t have to get competitive in the horse business. You can team up with other equestrian professionals, pool your resources and reap the benefits. You have the same goals—to make a living in the horse business—so why not help one another out?
How to Form a Partnership
If you’re ready to partner with another horse business owner, start making phone calls. Get to know the other equestrian professionals in your area, and form a solid foundation before you consider making a business proposal.
Make sure you want to work with that other person. Does he or she share similar horsemanship philosophies? Is his or her reputation sufficiently positive that it won’t reflect poorly on you in an association? Do you get along with this person?
If the answers to these questions are yeses, start talking about how you might partner up. Discuss ideas that have been floating through your minds, such as hosting a horse show or running a summer camp. Brainstorm ways in which you can benefit one another.
Just remember that you need to be open and honest if you want to partner with other horse business owners. You aren’t trying to deceive or get ahead of him or her; you’re trying to forge a mutually beneficial partnership.
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.
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About the Author: Laura Jane Thompson is the Chief Equestrian Officer of Riding Instructor University and the Feature writer for the horses section at Suite101. She believes that any horse business can succeed provided its owner practices smart strategy.
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