Of those enthusiasts who enjoy the various types of equestrian events that take place throughout Australia, many don’t realise that this is a business for the people who own the horse in most cases. For some who like to participate in different events, it is a hobby, but for others, it is not. This means that those involved in the equestrian industry have to conduct themselves in a business manner.
One of the big responsibilities that come with this business, as it does with most, is that the event in which the horse and rider are participating in has to be marketed. This is often a split responsibility. The event planner will advertise the event, but many of the participants will want to market themselves and their horse, to build their brand and gain recognition.
An equestrian business doesn’t just consist of the horse and rider. Many different resources are required for this type of business to be successful, which includes:
An equine business can be just one part of the equestrian industry. It can be the showmanship category, racehorse ownership, or even running a tack shop. No matter which it may be, a business plan is required. This helps to set the immediate and future goals.
There undoubtedly has to be an expectation for the equine business to generate a profit; otherwise, it comes into the hobby category. The profit opportunities will depend on the crux of the business.
- Horse Racing Business: Different subcategories can fall into this main equestrian category. For example, some jockeys work independently as their own business. Then, there are the horse owners who make their money from the purses that the horse brings in. Or, it can, later on, come from breeding fees.
The same can apply to some of the other equestrian categories. There are some who run businesses as horse trainers. Then, there are those who have the business of boarding and taking care of the horses. There are plenty of opportunities in the equestrian world to operate a successful business. As a result, it is an industry that can be very important for the Australian economy.
By giving an opportunity for business ventures, it also means that it opens the doors for different types of employment. Horses need constant care, and it takes a lot of people to provide this.