The legal aspects of starting equine business

The legal aspects of starting equine business

Starting or managing an equine business can be a tricky prospect. Complexities pertaining to the law that can take you by surprise can be expected, especially if you don’t pay heed to the legal aspects of the business. Therefore, whether you are planning to start a horse business or you already own one and intend to make it more productive, it is crucial to gain knowledge about the legal aspects related to this field.

Fruitful organisations keep away from the regular mistakes that unsuccessful ones make. These incorporate under-capitalisation, the absence of a proper strategy for growth, having little understanding of your objective market, belittling business-related costs and last but not the least, lack of awareness about the legal aspects. In the event that you need to begin a horse business, you have to acknowledge the importance of equine business laws.

Along with stable management experience and expertise, awareness about the legal aspects can save you a lot of unnecessary trouble. The more knowledge you gain with regard to the typical legal requirements, snags and commercial aspects of running a horse business, the better chance you have at achieving success.

As a matter of prime importance, you need to pay attention to liability whenever you begin an equine business. Individuals can file injunctions or bring a suit against you. There are two approaches to safeguard yourself from risk. The first is picking a business structure that bears you the most assurance for your necessities. The other is insurance.

There are basically three potential outcomes for lawfully organising your stallion business. You ought to counsel a property lawyer Melbourne or a business consultant for guidance on which structure suits you the best.


A sole proprietor is somebody who possesses an unincorporated business independent from anyone else. While this is the least complex stable administration structure, it makes you highly susceptible to lawsuits. In the event that you do choose to go this course, opt for adequate insurance. Furthermore, you need to be cautious about not missing out on the taxes involved such as income tax and self-employment tax.

A partnership is the bond present between two or more individuals who collaborate to start or manage a firm. Each partner comes up with his or her share of the investment and is prepared to share the profits and losses accordingly. However, partnerships are confronted by the same liability issue as a sole proprietorship, aside from that with partnerships, the individual and business resources of the considerable number of accomplices are hanging in the balance. All partners can face a lawsuit, even if only one partner is at fault. Therefore, aspiring stable owners usually don’t opt for this kind of business structure to avoid legal issues.

A corporation is essentially the safest stable management structure which is precisely the reason why astute horse business owners opt to incorporate their businesses.

Irrespective of the structure you choose, you ought to beware of the legal pitfalls that accompany them. So, it is advisable to get in touch with a professional and reputable attorney. It is the best approach to deal with the legal issues you may face including agreements, employment, leases, insurance, credit and tax.

Tips for Running a Successful Horse Business

Tips for Running a Successful Horse Business

If you want to start off on a successful horse business, profitability should obviously be high on your priority list. There may be horse lovers who embark on such a venture to be close to the animals as much as possible but then too breaking even is crucial. The business should be self sustaining without draining off your capital and resources. Horse business has many manifestations – boarding, training, breeding and preparing the animals to respond to commands for equestrian events. You can start your business in an area where you have the required expertise or you can hire professionals in this field. Whatever it might be, it always pays to have a fair degree of idea about the business instead of depending solely on hired hands.

A few tips will better explain the various aspects of horse business.

  • Go for a high returns area – Boarding will give you maximum returns on your business. But then, this has high infrastructure costs. Well maintained stables, maintaining specific temperature with advance techniques, large exercise grounds, vet on call and others can be quite expensive. It is also not a onetime investment. Running costs such as electricity bills will be substantial. Treat it like any other business and work things out. Better still hire a business consultant to advise you and plan out profit generating strategies.
  • Offer complementary servicesTo keep your business economically feasible at all times, offer services that will prop up your main stable business. Horse training is one of them. People want their horses to get the blue ribbons in competition but do not have a clue about training procedures. You can hire expert trainers and provide this service. Horse riding lessons is another option for you that will bring in much needed capital. No matter how well the horse is trained, it’ll come to naught if the rider lacks riding skills. Both these services are very well paying.
  • Other sources of income from horse business – Explore avenues to diversify your business in this field. Think about having time slots for people who have horses but nowhere to ride them. Rent out your fields but take care that there are never too many riders present at any particular time. Organise clinics for people looking for specialist services before taking part in shows. These include helping to polish riding skills and offering specific show oriented tips. Add a certain amount for use of your facility over what you’ll be paying to the professionals.
  • Keep your business covered – There are multiple reasons in horse business why people can sue you. It makes good business sense therefore to keep you covered against liability in any eventuality. Have a good business structure that thwarts main possibilities and take out an insurance policy that includes most aspects of your business.

Try out novel business strategies for your horse business and it can only be a win-win situation for you.