Horse Stable Programs Summer After School

Ideas for After-School and Summer Horse Stable Programs

Ideas for After-School and Summer Horse Stable Programs

For many equestrians, their first few years spent learning how to ride and care for horses are fond memories that helped build a lifetime of love and passion for horses and riding. If you are considering adding other horse stable programs to the services you already offer for youths to help young riders in your local community learn more about horses and riding, continue reading for some tips and considerations.

After School Programs

After school programs are an excellent way to keep children entertained and stimulated doing activities that they love while simultaneously providing parents with a safe and fun environment for their children after school. They are also an excellent way to add supplemental income for your business. When designing your after-school programs, consider the following:

  • Separate programs for different age groups; how will they be split up?
  • How many trainers will need to be on staff for the programs?
  • Do you have enough lesson horses available for the programs?
  • What sort of activities will be offered in the programs?
  • Will the programs be offered every day after school, or on certain days every week?
  • Discuss coverage with your insurance agent to ensure that your business is fully covered
  • Create pricing options based on the services offered

Summer Programs

Many young riders anxiously look forward to the beginning of summer horse camp all year long; days filled with riding and making friends in the hot summer sun are often the highlight each year for young equestrians. Work with your staff to design a summer program that keeps children entertained, safe, and smiling all summer long. Consider the following while creating your summer program:

  • Separate programs for different age groups; how will they be split up?
  • Staff needed/Camper-to-counselor ratio
  • Activities that will be offered
  • Camp start and end times: many programs closely mimic parent’s work schedules to make drop-off and pick-up time easy
  • Lesson horses available for use
  • Lunch and snack times: decide if the food will be provided, or if campers will be asked to bring their own. Be sure that your registration info asks about food allergies and have a plan to ensure these are reviewed and considered every week
  • Ensure there will be at least one “cool-down” activity each day, whether that be swimming, relaxing in an air-conditioned space, etc.
  • Discuss coverage with your insurance agent to ensure that your business is fully covered
  • Create pricing options based on the services offered: older campers will probably take part in more extensive activities, which will warrant higher prices.

Once you have established the programs that your barn will offer to young riders, it is crucial to begin advertising as soon as possible to allow parents to discover your program when they first start looking in the early spring. It is also important to remember that a successful summer program might entice parents to sign their children up for lessons in the fall, winter, and spring; this is an excellent way to keep business rolling in all year round.

After-school and summer programs can be a key source of new long term customers, so be sure to wrap up each session with information to the parents on what the best next step would be for their child to continue with equestrian activities at your stable.

after school summer horse camp stable


How To Choose The Services That Your Horse Barn Will Offer

How To Choose The Services That Your Horse Barn Will Offer

When designing a business plan for a new horse barn, it is crucial to carefully consider what services your barn will offer to customers and clients. Are you planning on running a boarding facility, or are you planning on running a barn that is more focused on lessons and clinics? Perhaps you’d like to dabble in a little bit of everything. The beauty of owning and running your own business is the ability to choose what you will do. Here are some tips to help you choose the services that your horse barn will offer.

Consider Your Facilities

The first step in building your business model is to consider the following:

  • The number of stalls in the barn
  • The size of the stalls
  • Acreage available for use on the property
  • The number of paddocks or pastures
  • The size of paddocks or pastures
  • The size of the tack room in the barn
  • The number of wash stalls
  • The size of indoor/outdoor riding arenas

Boarding

Offering boarding services can be extremely lucrative when it is well managed. If you’re considering opening your property up to the public as a boarding facility, take a look at the competition in the area. Take note of the services that other barns offer, as well as what they charge, and decide how to differentiate your offering in a way that plays to your natural strengths. These steps will help you design a boarding program that will set you apart and entice riders in the area to bring their horse to you rather than other barns in the area.

Don’t forget to check the zoning laws in your area to ensure that you will be complying with local and state/provincial regulations. Pay careful attention to the environmental regulations regarding manure management and consider how many horses your property can support with and without hauling the manure offsite.

To protect both yourself and the individuals who choose to trust you with the care of their horses, develop a thorough boarding contract that leaves no room for misinterpretation. In the case of an emergency or disagreement, this will help protect you. Speak with your insurance company to find out what needs to be done to fully cover both your property and your business.

Lessons

Running lesson programs can be lucrative, and they are a fantastic way to use word of mouth to your advantage. Once riders find a barn that they enjoy riding at, they are likely to tell friends and family; people will take note of the attention and time you put into managing your stable. Take a look at the lesson programs offered in your area and design a unique program with fair pricing that will set you apart. Carefully evaluate existing beginner development programs to find one that is comprehensive, fun, and suits your style. As riders, drivers, and vaulters progress, you may want to have a more tailored approach, but most stables and their clients will benefit from having a proven foundation for all participants. Carefully consider the advantages of your coaches being certified, and if you decide to go that route, be sure you promote that in your marketing. Work with all of your coaches to update their profiles on the certification organization’s directory to link to your stable’s website or Stablebuzz site.

It is important to consult your insurance company prior to opening your facilities for clients to use, especially if the lesson programs will be using horses that belong to you. You want to ensure that you and your facility are fully covered in any scenario.

The process of starting a new equestrian business is exciting, and with the proper planning, you will be on your way to opening and managing the barn of your dreams.

Horse Barn Services horse boarding

 

 


Horse Farm

How to Create A Friendly Horse Farm Atmosphere

How to Create A Friendly Horse Farm Atmosphere

Overseeing your horse farm’s daily operations is undoubtedly important, but it is crucial not to forget to focus on the overall atmosphere and environment inside the barn, as well. Many equestrians can account that a negative, overly-competitive, or hostile environment in the farm can be enough to make anyone feel less enthusiastic about their visits to the horse farm, as well as towards riding in general. To keep the riders in your barn happy and comfortable, there are a few things that should be ensured to build and maintain a warm, welcoming environment. Here are some tips for creating a friendly barn atmosphere.

 

Friendly Introductions

Arriving at a new barn can be extremely exciting, but it can also be a little nerve-wracking, especially if the other riders at the new barn are not particularly inviting, or if they are close-knit. To help welcome newcomers to your barn, set up a system that helps new riders introduce themselves to others and allows them to quickly acclimate. Consider asking one of the other riders to help them make introductions. Some barns welcome newcomers by providing them with a small gift, such as a personalized stall plate or a piece of clothing with the barn’s name and logo on it.

 

Come Together

Many horse farm provide a comfortable area for riders to hang out and relax with each other; usually a comfortable heated or cooled lounge that overlooks the riding arena, or something of the sort. If possible, giving the riders in your barn a place to come together and spend quality time getting to know one another and enjoy each other’s company can be extremely beneficial for creating and maintaining a friendly barn atmosphere. Even if a separate lounge area isn’t in the budget, it is worth considering throwing in a few benches here and there in the aisles, in the tackroom, and even outside of the barn to allow riders to sit and chat with each other when they aren’t spending time in the saddle.

 

Group Activities for your Horse Farm

Planning group activities and games is another great way to ensure that all the riders in your barn are able to build relationships with each other. Setting aside a fun-filled day for group activities, whether on foot or in the saddle, helps create a strong sense of camaraderie and community. The games and activities you choose to do are completely up to you and your team; choose some fun games that will help promote inclusivity, good horse-sense, and a strong bond between all involved.

 

You would be surprised at what just a few changes around the barn can make in the overall atmosphere. A barn with a friendly, open atmosphere makes for an undoubtedly welcoming environment that riders of all ages, disciplines, and backgrounds can truly enjoy with each other, and it also helps build and solidify a positive reputation for your barn, as well. Moving forward with the information you learned here, you will be better able to make the necessary changes in your barn.

 

Horse Farm Atmosphere


Hire Horse Stable

4 Tips for Hiring for Your Horse Stable

Hiring for Your Horse Stable

Running a horse stable-big or small- can prove to be a massive amount of work. At some point, you will find yourself in need of an extra hand or two in order to get things done in a timely manner. When this time comes, it is important to ensure that you are following all the necessary steps to make sure that you are hiring the perfect employees for you and your facilities. Here are some pointers.

Experience with Horses is Important

Working at a horse stable can be extremely enjoyable and rewarding, but it can also be very challenging, and at times, dangerous. For this reason, it is crucial to hire someone with hands-on experience working with horses. Even if you are just hiring someone to oversee turning out and cleaning stalls, the safety of both your employee as well as the horses in the barn are your responsibility as the property owner, and it is important to ensure that any unforeseen incidents can be quickly and expertly handled.

Designing A Job Posting That Fits your Horse Stable

In order to gain the attention of individuals looking for a job, you will need to put together a job advertisement. Within this advertisement, it is crucial to be as up-front and as fully-detailed as possible; including all responsibilities associated with the job will help people understand exactly what you are looking for and what will be expected of them should they be hired. This will help narrow down your search to the individuals who feel that they are the most experienced and qualified for the job.

Advertise, Advertise, Advertise your Job Vacancy

When it comes time to post your advertisement for the job, you will have various different options for the location you choose to post it. Of course, the internet will be your greatest tool in this scenario, so you will want to share your advertisement on sites like Indeed. It may also be worth considering posting physical job advertisements in your local area, in places where horse-savvy people will be likely to see it. Your local tack or feed shop may be a great place to start.

How to Interview

Once you have found a few promising candidates, you will want to bring them to the stables to conduct an interview. Start the interview by giving a tour of the stables and surrounding property. This will help the individual get a grasp on the amount of work that will be expected of them. During the interview, ask questions that will help you secure an idea of their experience working with horses. Give a few emergency scenarios that may arise during their employment, and record their responses on how they would react to the situation.

Once you have completed the interview process, make your choice based upon the candidate that impressed you the most with their experience, and will best suit the needs of the stable as a whole. The hiring process may prove to be a bit nerve-wracking, but you’ll soon see that being able to take advantage of another hard-working individual in your stable will make a world of difference.


horse borders for stable

3 Tips for Choosing and Accepting the Right Horse Boarder for Your Stable

3 Tips for Choosing and Accepting the Right Horse Boarder for Your Stable

For many equestrians, the prospect of owning your very own riding or boarding facility may be a dream come true. A lot of work goes into starting up and managing a boarding facility, so it makes sense that you will want to ensure security and peace of mind for yourself when accepting new horse boarders. Here are some tips for choosing and accepting new boarders.

Consider the Size of your Horse Stable

When deciding who to accept as horse boarders at your barn, consider your facilities. Take into consideration the size of the property; this includes both the acreage and the stalls that you have open. It is important to decide on the number of horses that your property can comfortably house and support in advance.

Ask the Horse Boarder's Intentions

When deciding whether or not to accept a new horse boarder, make sure that you are aware of (and agree with) the boarder’s intentions. Some owners simply use a boarding facility as a place to keep their horse while they are away for long periods of time. This essentially means that the horse will not be receiving any one-on-one interaction with people other than being turned out, fed, and in the case in which the service is offered, grooming. In some cases, it will be specified that the owner must at least periodically visit the barn. If the boarder you are considering is not planning to be around much and that is something that would bother you, perhaps it may be better to find someone that plans to be more involved with the daily care of their horse.

Some barns require all boarders to be part of the facilities’ lesson program; this helps promote a sense of unity throughout the barn and prevents any sort of disconnect between riders within the barn. Consider if this is something you would like to enforce; if you do not mind if riders prefer to be more on the solitary side with their horses, then this is something that would not apply for you when contemplating accepting a new boarder.

It’s also worth considering if you’re willing to board horses that are being “put out to pasture”, or retired. It’s common for older horses to require special attention or living arrangements, which can prove to be time-consuming, costly, and in some cases, quite difficult to manage. If you feel that you have the time and resources to take on an older horse, you may find the experience of providing one last relaxing, caring home especially rewarding.

Ask for the Boarder's References

Word of mouth can be your most powerful tool. This is especially true in the horse business. Asking for references and following up with them can help you build a solid understanding of who the potential horse boarders are like and what you can expect from them during your contract with them. It’s always better to be safe rather than sorry, especially when entering into a legal contract with someone.

The types of horses and owners that you accept as boarders in your barn are completely dependent on your personal preference, as well as what your facilities can handle. Use the pointers you learned here to help your decision-making in accepting new boarders.

 

Horse Boarder


Stable Management Emergency Preparation Guide : First Aid in the Barn

Stable Management Emergency Preparation Guide : First Aid in the Barn

Stable management consists of various tasks within a horse barn and it can be easy to lose sight of emergency preparations. Spending time hanging around the barn can be a therapeutic and enjoyable experience for you and other members of the barn. The relaxed atmosphere may make it difficult to consider the possibility of an accident or emergency, but it is extremely important to make sure that both you, your staff, the other riders, and any other stakeholders in your barn are completely prepared to handle any situation. Let’s face it: the equestrian world can be dangerous, and it’s up to us to ensure that we are prepared for whatever may come our way. Here are some recommendations on handling different emergencies and administering proper first aid in the barn.

Stable Management First Aid Kit Must-Haves?

Every barn should be equipped with a fully-stocked first aid kit that provides safe and practical solutions to any emergency situation, or at the very least, helps diffuse the situation until the veterinarian arrives . Below is a list of essential items that should be in the first aid kit of every barn.

  • Equine first aid guide
  • Latex gloves
  • A rectal thermometer
  • A stethoscope
  • Tweezers or forceps
  • Gauze
  • Hydrogen peroxide (for cleaning wounds)
  • Rubbing alcohol (for cleaning instruments and tools)
  • Safety scissors (for cutting bandages)
  • Clean buckets (reserved only for first aid use)
  • Bute (pill, paste, or powder)
  • Vaseline
  • Wound cream
  • Bandage wraps (self-adhesive brands suggested)
  • Medical tape
  • A poultice boot
  • Epsom salts (for soaking abscessed feet)

Keep in mind that any first aid administration should be done under the consultation of your veterinarian; while of course you will want to ensure that you are making the right decision for your horse in the moment, having these items on hand is crucial, as they have the potential to make or break an emergency situation. If possible, get your veterinarian on the phone as soon as possible, so that he or she can guide you through what you need to do to keep your horse as safe and comfortable as possible until they arrive.

Emergency Scenarios

All equestrians know that horses tend to be fairly prone to accidents. In the case of emergency, take the time to do a full visual and physical examination of the horse, using your hands to feel for abnormal heat or swelling. Place a call to your veterinarian and explain the situation in detail. Depending on the severity of the situation, you may be able to manage the problem on your own with the guidance of your veterinarian over the phone. In the case of serious injury, you can rest assured knowing that using the necessary items from your barn’s first-aid kit, you will be able to successfully manage the situation while you wait for your veterinarian to arrive.

Moving forward with the information you learned here, you will have a better understanding of the importance of a fully-stocked first-aid kit in your barn. If possible, talk with both your barn manager and your veterinarian to design a kit that is equipped with whatever you may need, and is easily accessible to everyone in the barn. We can never be too safe, especially when the health and safety of our beloved horses is concerned.

 

First Aid Horse Barn Stable Management

 


4 tips stable management

4 Effective Ways to Improve Operation & Stable Management

4 Effective Ways to Improve Operation & Stable Management

For many stable owners, the ability to make a living working with horses is a dream come true each and every day. Like most things in the equestrian industry, stable management centered around horses can prove to be extremely rewarding, but also undoubtedly challenging. The bustle of day-to-day operations can prove to be quite overwhelming, but with the proper stable management and planning, improving and organizing how the business is run can easily be done.

Market Your Horse Stable

Any successful business owner-no matter their niche-will tell you that marketing is the key to launching and growing your business. Marketing your horse stable is the best way to spread the word about what you have to offer to potential customers and clients. It has the potential to make or break your business. The way you choose to market your equestrian business is just as important as the marketing content itself; depending on the message you want to get across. Choose from taking out an ad in a local paper or magazine, designing online advertisements, or a sturdy social media marketing campaign.

In today’s tech-loving society, ensuring that you are investing in social media marketing is crucial. Each day, millions of people use their mobile devices to scroll through various social media apps. This is a massive marketing opportunity, and most apps, like Facebook and Instagram, offer assistance in finding targeted audiences for your content.

Originality Is Key

As a stable owner, it is important to ensure that both you and your business stand out and have something original to offer the public. Ensuring originality is also ensuring that you are giving your customers a reason to choose you and your business over the competition. Work on developing a name and image for both you and your horse stable that sets you apart and starts a conversation.

Develop A Business Plan for Your Horse Stable

Having a business plan helps keep your goals and milestones in sight and allows you to easily see when things need to be changed in order to keep things moving forward. Those who make the mistake of going into business without a business plan find that it can become difficult to track the status of the business and plan out what financial goals they would like to work towards meeting. A good business plan will allow you to analyze incoming and outgoing expenses and help you make a decision on where to take your business in order to maximize profits.

Listen to Your Customers

Taking feedback from customers or clients is an excellent way to improve your equestrian business. Individuals who have first-hand experience with your business are the best source of feedback; they will be able to tell you what is working with your current business model, and what is not. Taking any feedback you receive and moving forward to meet customer expectations may just be one of the most beneficial things you do for your business.

The equestrian industry is tough, but with the proper planning and management, the operations of your horse stable can be improved and maximized to ensure the success of the business and the satisfaction of your loyal customers.

 


stable management tips

4 Amazing Stable Management Tips to Prepare Your Barn For Winter

4 Amazing Stable Management Tips to Prepare Your Barn For Winter

Stable management can keep us quite busy. As equestrians, we tend to have a nasty habit of scrambling to get things ready for the approach of winter every year. It isn’t necessarily due to laziness, it just tends to sneak up on us while we are busy gearing down from the busy summer show season and adjusting to changes in temperature and schedules during the fall months. Here are some valuable tips on preparing your horse barn for winter.

Stocking Up on Food

Winter brings harsh weather conditions, which often makes it difficult to head out for supplies or even to receive deliveries. If bad weather strikes back-to-back, it can leave supplies low with no way to replenish them. In emergency situations, it is important to ensure that every horse in the barn is warm, comfortable, and fed. Take advantage of the time you have before winter hits to stock up on essentials like grain, straw or shavings, and hay.

Reliable Water Sources

Due to extreme temperatures in the winter, frozen water pipes, water buckets, and troughs become a major issue that has the potential to lead to dehydration if the issue is not corrected. In fact, most cases of equine dehydration happen in the winter, when water sources both inside and outside tend to freeze. Installing heaters near your barn’s water source and investing in rubber buckets is a good way to ensure that frozen water sources will not be an issue this winter. Another excellent option is a heated watering system installed inside the barn. While this can prove to be quite expensive, many barns that invest in a heated watering system quickly see that it can be a true lifesaver in the winter months.

Snow Removal

Have a plan set for snow removal; ensure that you prepared for early mornings when the first couple people to arrive at the barn will need to clear out safe walking paths in and out of the barn. This is something that may slip most people’s minds until it is too late, and it is perhaps one of the most important aspects of managing the barn in the winter. Ensure that the barn is fully stocked with snow shovels and rock salt.

Prepare The Barn

If there are any repairs needed around the barn, it is a good idea to make sure that they are done before the first of the real winter weather hits. Broken fences, loose hinges, cracked water buckets, and cracks in windows are all things that have the potential to sneak up on you during the winter when it will be much more difficult to repair. Take a day or two to survey the barn, arena, pastures, and paddocks for signs of things that need to be repaired. Taking the time to ensure that these things are fixed before the harsh winter weather conditions hit is important, and will save you a considerable amount of headache later.

Moving forward with what you learned here, you will be able to design and follow through with a plan to safely and effectively prepare your barn for winter. Remember to take a deep breath and take a moment to enjoy the crisp weather with your horses and fellow equestrians!


equestrian horseback riding

4 Ways Equestrians Can Stay Safe When Horseback Riding in Winter

4 Ways Equestrians Can Stay Safe When Horseback Riding in Winter

Most equestrians will agree that horseback riding in the winter can bring a completely new and exhilarating experience. It provides both horse and rider with breathtaking views and fun new challenges to work through together. While it can be extremely enjoyable to ride in the winter, it is important to ensure that both you and your horse are staying safe.

No Such Thing As Too Many Layers for Equestrians

You’ll find that the cold will seep in deeper and faster than you would think is possible. For this reason, it is important to make sure that you are dressing in multiple warm layers. This will ensure that your body heat stays trapped inside your clothing. For extra warmth, top off your outfit with an insulated coat or jacket.

Choosing The Right Footwear

Just as the cold has a tendency to seep through thin layers of clothing, it will do exactly the same thing to the feet if the rider is not properly equipped with the right winter footwear. In the dead of winter, frostbite can become an imminent factor as riders struggle to keep their feet warm and dry. Invest in a sturdy pair of insulated and thick winter riding boots, preferably knee-length. Wearing a boot that comes up to the knees will prevent snow and ice from sneaking into the shoe. Of course, you’ll want to pair your winter boots with a warm, comfortable pair of socks underneath, as well.

Keep It Safe In The Arena

A thick cover of snow on the ground has the potential to hide dangers like uneven footing, sticks, rocks, and holes. While outdoor riding in the winter is undoubtedly beautiful and fun, if you are not sure what may await you on your trail ride, it may be better to stay on the safe side and keep most of your riding in the arena, where you are sure there are no hazards to you or your horse. It is always better to be safe than sorry.

Winter Shoeing Methods

Speak with your farrier about your options for safe winter shoeing this year for your horse. Many farriers now offer to apply padded shoes in the winter, which prevent slipping and provide a good grip on the terrain under your horse’s feet. Padded shoes also have the ability to prevent snow and ice from becoming trapped inside the hoof, which also tend to cause a loss in traction. Ensuring that your horse’s feet are properly equipped for the harsh winter conditions is a major step in keeping both yourself and your horse safe.

It is important not to let the arrival of winter get you down or dampen your enthusiasm for your time spent with your horse. The arrival of colder and harsher months does not mean that you can not enjoy your time both in the barn and on the saddle; taking the proper safety precautions for both yourself and your horse will make a massive positive difference in your winter riding experience. Going forward with the information you learned here, you will be able to ensure that you will have a safe and enjoyable winter riding experience.

 

 

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Legitimize Your Stable: Management and Business | Accounting and Financial Management

Legitimize Your Stable: Management and Business | Accounting and Financial Management

Continuing on the subject of how to Legitimize Your Stable: Management and Business, we will be exploring the advantages of accurately managing and controlling your finances with three simple and easy to implement practices. In present times, stable software has made things easier!

Previously, on our ‘Legitimize Your Stable: Management and Business’ piece, we spoke on how to implement crucial stable management practices such as customer service and professionalism. Excellent customer service and professionalism increase the chances of customers joining and remaining with your stable, increasing revenue. However, as your revenue increases, it would be almost impossible to fully benefit and see growth if you do not have proper accounting and financial management processes in place. In every business, everything comes down to finances. If you are not able to manage and control your capital, your horse stable will continue to struggle.

Some industry studies have found that the number one reason parents take their children out of equestrian sport is due to a lack of professionalism around invoicing and payments. Their experiences in other sports raise the bar above what many stables offer today, but with stable management software like Stablebuzz now available, you can meet or exceed those expectations.

Numbers, charts, and all the math can be intimidating for new business owners. So Stablebuzz has simplified the accounting and expense management process starting with the most tedious task – invoicing.

Customer Invoicing

A major point of conflict between stable owners and boarders is the payment process. Customers complain of invoices being sent late or inaccurately and stable owners have a difficult time collecting payment. The solution is quite simple – ditch the old school practices!

The traditional way of invoicing was done on paper; your office had a copy and the customer had one as well. Back then, it was the best way to do it but it came with the following challenges:

  1. It is easy to miss critical details or changes to a customers invoice because the information you need is in many different places.
  2. Easily misplaced or forgotten paper copies by both the customer and horse stable’s admin staff.
  3. Incorrect entry of invoices in accounting books, and sometimes the invoice is not even recorded.
  4. Delayed or forgotten payment collection following an invoice. It takes a lot of time and effort, and it becomes a tedious task. What’s worse is you have no paper trail or way to track the amount of time and effort taken to collect money. Quite often, the efforts to collect payment can cost your organization more than the owed amount.

Invoicing is an important part of your accounting department that cannot be omitted or ignored. However, it doesn’t have to be tedious and time consuming. Electronic invoicing has saved small businesses up to 50% in admin costs and here is why:

  1. Electronic invoicing can be done in minutes, if not seconds, through any electronic device.
  2. E-invoices are sent straight to customers via email or text message and your books are instantly updated once payments are made. Your only task is to press the send button and everything else is taken care of.
  3. Customers can pay by credit or debit card right on the invoice page. Their card details are saved by the payment processor, so they can easily pay future invoices in just a few clicks without re-entering their card details. If the customer gives you permission to charge their saved card, you can collect without any delay in the future

The Stablebuzz stable management software invoicing tool enables stable owners to visually identify overdue invoices, resend the invoice with one click, and keeps your financial reports up to date automatically. All that is required of you is to create the invoice and click send, or charge the saved card and the receipt is sent automatically

Expense Tracking

Now that you’re invoicing efficiently, collecting payment faster and without stress, and revenue is flowing in, the next very important step that should not be neglected as a stable owner is tracking your expenses accurately.

We all do it – spend a little here and there until we eventually spend away our profit. Horses require a lot of care from their equipment, health, and food, down to their shoes. It is easy to continuously spend. Tracking your expenses makes you aware of where your money is going and how you can optimize your spending.

For example, with Stablebuzz stable management software, stable owners can associate expenses with one or more horses and view the cost-per-hour per horse. This information can then help ensure lessons are priced correctly. However, expense tracking for stable owners shouldn’t solely revolve around horses.

To fully benefit, stable owners must record every expense made using business funds. From snacks to facility repairs, every financial move should be recorded. This is crucial for three specific reasons.

  1. It improves financial awareness, resulting in better money management practices. When looking at your expense report, you will become conscious of what is eating up your business funds or you may notice poor spending habits. This will result in a conscious effort to avoid spending unnecessarily after you have visually seen the effects of those spending habits and decisions.
  2. Filing your taxes becomes a breeze when you track all your expenses. You won’t find yourself overwhelmed and anxious as you run around trying to find receipts and invoices when that time of year rolls around. Everything can be found in your Stablebuzz stable management software, and you can grant your bookkeeper or account special access to this data without giving them access to your non-financial data. When you run your stable efficiently through industry-specific software, it can eliminate a huge amount of stress.
  3. It results in an accurate profitability assessment. Are you operating at a loss or at a profit, and by how much? The only way to determine the accurate answer to this very important question is to track all your expenses and subtract it to your total revenue in a timely manner. If your new income is in the negatives, you need to urgently sort out your spending or adjust your pricing, but you won’t know that unless you stay on top of your expense tracking.

Frequent Financial Reviews

Financial reports are often reviewed quarterly or annually. However, monthly, weekly, and even daily reviews of your financial reports can be extremely beneficial for your growing horse stable. Frequent financial reporting helps with the following:

  • Early identification of problematic spending and payment collection, internal theft, and the results of pricing adjustments for your students and boarders.
  • Seeing the results of certain implemented changes. For example, you decide to open your horse barn longer and have more available timeslots for lessons. Looking at your financial report can help you identify if those changes are bringing in more, less, or the same amount of net income. The faster you can identify the results of implemented changes within your stable, the less you lose or the more you make.
  • Identification of financial patterns. Monitoring your financial reports can help you identify which months require you to spend more and how to manage those spending spikes throughout the year so you do not find yourself empty-handed unexpectedly.

Essentially, frequent monitoring of your finances keeps you in the know and can lead to very important discoveries of what is taking place across your organization. Stablebuzz financial reports convert your inputted numbers into easy to understand graphs for better and more profitable decision making.

In conclusion, prioritize these three important areas: efficient invoicing, strict expense tracking, and frequent financial reviews. These practices will not only bring clarity on where your business capital is going, but it will also help you make better financial decisions and your accountant will thank you for being organized.

Everything can be done digitally and faster these days. Without the use of a modern industry specific system, your business will fall behind. Take the leap with Stablebuzz to preserve equestrian sports for future generations by increasing your horse barn’s profitability.