Although a rather esoteric segment of the entrepreneurial world, owning horses can open doors to create a decent amount of passive income. If done the right way, that is. This can involve training horses, buying them for low and selling for higher and entering them into paid races. This article shall run through the best ways that you can turn your equine passions into sizeable profits.
Choosing the Right Horses
All too often people put their horses up on the market for far less than they’re worth when all they need is a little training and help to send their value skyrocketing. These kinds of sellers have usually lost interest/no longer have time to invest into training their horse and thus decide to sell them off as quickly as possible. Try to find horses with great potential minus the premium pricing in order to maximise your long-term profits. To do this, you need as much experience in horse-training as possible. If you lack experience, you’re going to need an experienced mentor to guide your decisions. You should aim to purchase horses that you personally would wish to buy – horses with good temperaments that are athletic and obedient. Trainers that choose horses that they personally would buy make far more money in the industry than those that buy purely based on price. You should also consider that qualities of horses that other people like, not just yourself, to ensure that you’ll be able to sell your horse further down the line.
To begin with, only purchase young horses with a lot of potential. Make sure these are easy to train and align with your experiences. Further down the line, you may wish to start purchasing problem horses and training them to increase their value, but to begin with I wouldn’t advise taking these kinds of horses on if you’re a beginner.
Always take the horse’s best interests into account and avoid treating the horse purely as a way of earning money. Entering into any field with money as your sole motivator is a sure way to fail instantly. Treat this as much as a hobby as it is a way to earn money.
Many agencies & riders are always looking for show horses that can compete. The more competitions your horse enters the stronger it’ll become and the more money it’ll be worth when competing next time. An experienced horse is worth far more in a race than one that has never competed before. Many sellers flog their horses before even entering them into races, often passing on an incredibly skilled race horse that could have earned them far more money than their sale.
In order to increase your horse’s chances of winning its races and earning you more money, it’s absolutely vital that you train it thoroughly. Be sure to train your horse everything from standing beneath tarps to trail riding in hills – absolutely everything you can. Make the horse friendly for children to ride, as well as people with little experience in riding. If you need to employ a trainer to help you for some time or purchase training courses as guidance then you absolutely should do so as this will hugely increase your long term profits.
Braiding Horses for Money
The horse-braiding industry can be incredibly profitable and easy to do if you already own a horse. Braiding kits can cost as little as £20 and they’ll contain everything you need. It’s not a difficult skill to train but it does take a long time, hence why riders will always pay somebody else to take braiding off their hands.
After a few attempts, most people are able to tail braid and braid the rest of the horse after very little time. Once you’re able to successfully braid horse’s manes, you’re probably about ready to start charging for your skills.
To do this, you should begin to search for shows that are coming up online – nothing too high-brow, just mid-level shows will be best if you’re just starting out. Shows that are too small and held locally likely won’t bother having their horses braided, while big shows will have highly experienced braiders that you won’t be able to compete with. Finding the sweet spot in between these types of shows will allow you to connect with riders that will want their horse braided but won’t be expecting the creme de la creme of horse braiders.
When you find some mid-level shows, contact the organisers in advance and ask if they’ll allow you to sell your services as a braider at their shows. Oftentimes organisers will gladly accept braiders as they are typically in incredibly high demand.
Aim to charge around £15-20 for braiding tails and a little more for the mane (around £20-25) as this will take significantly longer. These prices are variable and by no means fixed, however I wouldn’t recommending very high rates if you’re still new to braiding. Do a good job and riders will probably tip you, allowing you to earn upwards of £50 for simply braiding a horse.
Newbie braiders can earn upwards of £400-500 per day – a decent profit considering braiding requires very little experience. The more experience you gain, the more you can begin to charge for your services and the higher-level the shows you can start to attend. Braiding horses is an incredibly profitable industry to crack and it can be very enjoyable if you have a passion for horses.