Study reveals massive equine industry growth and rising horse population, but owners own more and pay more to keep them. Equine business and marketing expert describes a problem and offers free help.
July 5, 2005 (Press Release) --
A new study released by the American Horse Council finds that the American horse industry has grown to $39 billion, expanding by 55% over the last 9 years. The horse population now stands at 9.2 million, a 33% increase over the same period. Yet these new statistics confirm the existence of a problem that one industry expert has long suspected. And horse breeders in particular should take notice.
“The statistics look great on the surface,” says horse business consultant Ingrid Andrews of Equinnovation Equine Marketing, “But the problem is that the number of horse owners has increased by less than 5%. Owners now keep more horses—28% more on average—and I believe one of the primary reasons for this increase is that horse breeders have been keeping more unsold stock.”
“I work with my horse breeder clients to avoid this situation, one that I see all too often. Breeders back themselves into corners by not running their horse breeding operations according to business principles. Rather than researching the equine market and planning accordingly, they breed horses and then cannot find buyers at prices that cover their costs,” said Andrews. It is like having a store full of inventory that no one wants to buy, but worse: Unlike store merchandise, horses eat and need care that costs money every day.
And those costs keep going up. The huge economic growth within the industry reflects the rising prices of feed, equipment, and services needed to keep horses, with average expenses now at $2,882 for each horse every year. “When breeders are stuck keeping more horses and spending so much per horse, they can quickly find themselves in a bad business position,” said Andrews, a breeder herself. “Horse breeders must focus more on business planning and marketing. They need to understand the problem, and need resources to help them overcome it.”
As a provider of such resources, Equinnovation Equine Marketing offers private consulting and equine marketing services to individual equine business owners. Earlier this year, Equinnovation also began offering a free resource. “The Equine Business Edge” is a complimentary monthly newsletter with tips and advice on marketing horses and equine business planning. Readers are invited to submit questions about their own horse businesses.
About the free newsletter, Andrews said, “Readership grows every month, and I am very pleased to have the opportunity to help so many more people within the horse industry.” Newsletter subscribers include breeders, horse trainers, boarding farms, breed associations, equipment dealers, farriers and other equine service providers.
For help with your own horse business, subscribe to the free newsletter at www.equinnovation.com.
“The statistics look great on the surface,” says horse business consultant Ingrid Andrews of Equinnovation Equine Marketing, “But the problem is that the number of horse owners has increased by less than 5%. Owners now keep more horses—28% more on average—and I believe one of the primary reasons for this increase is that horse breeders have been keeping more unsold stock.”
“I work with my horse breeder clients to avoid this situation, one that I see all too often. Breeders back themselves into corners by not running their horse breeding operations according to business principles. Rather than researching the equine market and planning accordingly, they breed horses and then cannot find buyers at prices that cover their costs,” said Andrews. It is like having a store full of inventory that no one wants to buy, but worse: Unlike store merchandise, horses eat and need care that costs money every day.
And those costs keep going up. The huge economic growth within the industry reflects the rising prices of feed, equipment, and services needed to keep horses, with average expenses now at $2,882 for each horse every year. “When breeders are stuck keeping more horses and spending so much per horse, they can quickly find themselves in a bad business position,” said Andrews, a breeder herself. “Horse breeders must focus more on business planning and marketing. They need to understand the problem, and need resources to help them overcome it.”
As a provider of such resources, Equinnovation Equine Marketing offers private consulting and equine marketing services to individual equine business owners. Earlier this year, Equinnovation also began offering a free resource. “The Equine Business Edge” is a complimentary monthly newsletter with tips and advice on marketing horses and equine business planning. Readers are invited to submit questions about their own horse businesses.
About the free newsletter, Andrews said, “Readership grows every month, and I am very pleased to have the opportunity to help so many more people within the horse industry.” Newsletter subscribers include breeders, horse trainers, boarding farms, breed associations, equipment dealers, farriers and other equine service providers.
For help with your own horse business, subscribe to the free newsletter at www.equinnovation.com.
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