Please sign in to post in this forum.

ForumsStarting a Business

Previous Next Up to All Forums

This Question is Possibly Answered

1 "correct" answer available (5 pts) 1 "helpful" answer available (4 pts)
Post a new topic
1 Replies Last post: Apr 15, 2009 7:14 AM by LUCKIEST

Looking to start an Equine Stable and Training Center

Sep 14, 2008 1:30 AM

Click to view arabianponies's profile Professional arabianponies 4 posts since
Sep 14, 2008
We are considering starting an Equine Stable and Training Center. We have located a facility to be relocated to our land that we own free and clear. The start up costs including building and beginning basic needs is aprox $150,000. If we board 20 horses we would see a Grosse income of $6,000 per month with expenses at $3,200 on the high end. There are many other potential ways of bringing in more income by providing your facility for rent for other equine events.

We have a lifetime of experiance of working with horses and a large family to make this a family run business. We already raise and train our own Arabian Ponies as well as started the Arabian Pony Registry of America. We have excellent credit, own our 60 acres free and clear, have no debt, and always pay our bills. Hubby has a steady job and has for the last 10 years. At one time we did have our own LLC and the whole nine yards for a school bus mechanic business.

Where would we find funding for such a project? Would a bank consider this or would we need to find and independent source for funds? If funding was found how long would it take to get funds going to start the project?
Tags: business_start_up, business_plan Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
1. Re: Looking to start an Equine Stable and Training Center Sep 14, 2008 7:56 AM
in response to: arabianponies
Looking to start an Equine Stable and Training Center, Welcome

*If I *were considering starting an Equine Stable Center and are looking for funding, I would do the following.
Establish a Business Name and then register the name and get a Federal I D Number.
Develop a Business and Marketing Plan. The Plan is one of the first items the investor wants to see.

Tell me more. Where are you located (like State)?? Go to Members page and share more info.
Do you have a Lawyer??, An Accountant?? An Insurance Agent??
You should get some great responses from investors on this web site. (Be Careful).

Finally there is SCORE. SCORE is FREE and can help you.

Good luck, LUCKIEST
Report as inappropriate
Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
2. Re: Looking to start an Equine Stable and Training Center Sep 15, 2008 2:45 PM
in response to: arabianponies
arabianponies,

Good afternoon, hope all is well. Sounds like an very interesting business. With the information you have given us it sounds like you could do a couple of things. Have you talked with anyone about doing an SBA loan?
Report as inappropriate
Click to view HarmikBurbank's profile Mogul HarmikBurbank 17 posts since
Sep 2, 2008
3. Re: Looking to start an Equine Stable and Training Center Sep 15, 2008 3:35 PM
in response to: arabianponies
Very Interesting Business to start

Good Luck

legalcpu.com

Report as inappropriate
Click to view arabianponies's profile Professional arabianponies 4 posts since
Sep 14, 2008
4. Re: Looking to start an Equine Stable and Training Center Sep 15, 2008 4:44 PM
in response to: Fortis

First of all, thanks Luckiest for the ideas of where to start. I am starting my To Do Checklist with that!


As far as Fortis's question, a friend told us to look into a business loan but I don't know what institution would work best for us and our needs, or what we are really looking for or what is required or desired to make this more sellable to a potential investor or bank.


We are both pretty old fassioned and do not like debt and prefer to pay things off as quickly as possible but do not want to be locked into something short term that is too high of payments.

Tell me if you think I am being crazy....what I am looking for is a 20 year loan contract with a fixed interest rate below 7% and fixed monthly payment amount so payments are low but with the option and ability to make extra payments or pay off early with no penalties. I don't want to be fixed into large monthly payments and a large balloon payment in 10 years like one bank that I talked to wanted to do.

Report as inappropriate
Click to view arabianponies's profile Professional arabianponies 4 posts since
Sep 14, 2008
5. Re: Looking to start an Equine Stable and Training Center Sep 15, 2008 4:41 PM
in response to: LUCKIEST
Luckiest,

Thanks for the advice! We are located in North Eastern Washington. We do have a lawyer, and accountant, and insurance company that we work with for other stuff adn we did have a large liability insurance through when we had our own small school bus mechanic business before. We are not new to the reasons why to have seperate bank accounts for personal and business and the importance of having an LLC. What do you mean about SCORE?

Thank you
Report as inappropriate
Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
6. Re: Looking to start an Equine Stable and Training Center Sep 15, 2008 4:55 PM
in response to: arabianponies
The SBA is the US Small Business Administration. Go to the SBA government website. Its sba.gov

From there you will find loads of information on how to get financing, start a business, etc...

As far as the terms most of your requests are possible but generally SBA\'s are 10 yrs. A bank still has to underwrite the SBA so you will need a business plan, tax returns, PFS, profit and loss, etc....
Report as inappropriate
Click to view Lighthouse24's profile Mogul Lighthouse24 2,396 posts since
Oct 10, 2007
7. Re: Looking to start an Equine Stable and Training Center Sep 15, 2008 5:10 PM
in response to: arabianponies
Welcome to the community. It sounds like you have a great idea -- now you need to turn it into a great plan. Before you can successfully seek funding (or even know what kind of funding might be best), you'll have to do some work to change the "IF we board 20 horses" into "we will board 20 horses," and to change those "potential ways of bringing in more income" into reliable sources of revenue. In other words, you need to remove all the speculation of what might or could happen, and be prepared to present a plan of what WILL happen, complete with realistic and well-founded cash flow projections. The good news is, this is a type of business that has been around for years (good data to work from) and you are going into it with lifelong experience and expertise -- which means lenders will be more receptive, plus you should have some contacts already within the equine industry who can also help you move forward. A good old-fashioned business plan (which SCORE and others might be able to help with) is the next step, I think. Good luck.
Report as inappropriate
Click to view loan guy's profile Mogul loan guy 114 posts since
Dec 20, 2007
8. Re: Looking to start an Equine Stable and Training Center Sep 16, 2008 6:13 PM
in response to: arabianponies
Do you have any other business, llc, or inc.'s currently?

cory@walkerlender.com
Report as inappropriate
Click to view arabianponies's profile Professional arabianponies 4 posts since
Sep 14, 2008
9. Re: Looking to start an Equine Stable and Training Center Sep 16, 2008 6:38 PM
in response to: loan guy
The only other business we have is running our own breeding and training farm of Arabian Ponies called Renegade Farm Arabian Ponies and the Arabian Pony Registry of America which is at this point a collection of information and registration on Arabian Ponies that are bred, raised and located within North America. I have created a database to collect and save information on ponies and their owners that register with APRA to preserve bloodlines, and keep accurate records on a pony that might not otherwise have papers or proof of ownership. It has been growing well this year and we look forward to another great year next year. That website can be found at www.arabianponies.org My personal farm website is www.arabponies.com

Thank you all for such great ideas about how to get started!
Report as inappropriate
Click to view green.ins's profile Professional green.ins 6 posts since
Sep 18, 2008
10. Re: Looking to start an Equine Stable and Training Center Sep 18, 2008 12:31 PM
in response to: arabianponies
arabianponies-
If you would like to talk about your insurance needs, our agency, in Oklahoma City, is well suited to advise you. We have many years experience with large working ranches, AQHA and APHA, livstock mortality, care, custody and control of boarded livestock, etc. Insurance cost will be a major 'line item' on your pro-formo if you pursue a SBA loan scenario and it would be helpful to have an insurance quote in hand to accurately project cost. Good luck and please call if you need anything. jason@ticokc.com or 405/973-1735.
Report as inappropriate
Click to view fritzmaster's profile Authority fritzmaster 7 posts since
Dec 25, 2007
11. Re: Looking to start an Equine Stable and Training Center Sep 19, 2008 4:10 PM
in response to: arabianponies

Hi, I think we can help you!


Please call Fritz or Bob... or request an application from fritz@bobnewinc.com

Bob New Inc.

Leasing/Financing
http://www.bobnewinc.com/

bob@bobnewinc.com


Phone: (888) 639-2621 / 818-247-3530
Fax: 818-247-3536

"Helping Business in all 50 states including Canada since 1957"

Report as inappropriate

More Like This

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read