Buying a Working Equestrian Facility vs Starting Your Own From Scratch
Buying a Working Equestrian Facility Vs Starting Your Own From Scratch
If you want to become the owner of an equestrian facility, you may be wondering if you should purchase a working facility or start your own from scratch and build from the ground up. There are advantages and drawbacks to each scenario, so it’s best to choose what works best for you. Here’s a breakdown of the two situations.
Buying a Working Facility: Pros
There are various aspects to buying a working equestrian facility that can prove extremely beneficial, both short-term and long-term. The benefits of buying a working equestrian facility include:
● In most cases, the overall cost is much cheaper; if you do not plan to add or remodel anything on the property, the costs of purchasing an existing farm is much lower than starting from scratch.
● Structures and amenities needed for an equestrian center or working stables (barn, arenas, paddocks, etc.) are already present and in working condition on the property, allowing you to begin using the facilities for yourself or your business right away. If you are concerned about when you will be able to start accepting boarders to keep your finances balanced, purchasing a “turn-key” facility may be best for you.
Buying a Working Facility: Cons
There are also drawbacks to purchasing a working facility that should be considered, as well:
● If the foundation of the barn or other buildings on the property is cracked or faulty, this can pose a significant issue that can be expensive and time-consuming. It’s always a good idea to have the property inspected before purchase.
● Purchasing an existing facility means that you won’t have full customization of the structures and amenities. If you think you’d end up doing an extensive amount of renovations or construction to have the facilities that you need or want, building your farm from scratch may be your best bet.
Starting From Scratch: Pros
Starting your horse stable or equestrian facility from the ground up can be a fascinating and rewarding experience. Here are the advantages that come along with starting your stables from scratch:
● Complete customization: you will be able to choose and plan out every detail of every structure and building on your property, allowing you to create the stables of your dreams.
● Building your facilities will allow you to choose what works best for you; things that bothered you or didn’t work well for you at other stables can be corrected and put the way you like them on your property.
Starting From Scratch: Cons
Building your stables can be exciting, but some drawbacks should be considered:
● Because you will have to wait for construction to finish to begin accepting boarders ultimately, you could potentially have weeks, months, or even years that leave you without any income from your equestrian business.
● The costs associated with purchasing materials, hiring labour, and acquiring permits can add up quickly. If your budget does not allow for the things you need to be built to start up your equestrian facility, you may want to consider purchasing a property already in place.
Choose the route that works best for you, your budget, and your lifestyle. Consider your long-term and short-term goals, what you wish to get out of your property, and what you can put into it. Starting your very own stable is an extremely exciting experience. With the information you learned here, you will be better equipped to buy a working facility or start your own from scratch.