I want to start my own horse ranch. What do I need to do?
Image by lsasser
Jim Derby – A "Raising Bee" not a Bumble Bee. Raising a 1/5 scale model of a timber frame while discussing the raising sequence and framing details. The model is of an actual three-bay "English" barn with a common purlin roof system, a very common type of framing in Northern New England.
Photo by Chad Baker, Director of Marketing and Public Information at Thaddeus Stevens College of Technology, used with permission
Question by runningwest: I want to start my own horse ranch. What do I need to do?
OK-so I have a name and a brand but I’m not sure what else is needed. Is a ranch considered a small business? Eventually I will want to sell the horses and I also hope to raise bees and sell the honey. Help! I have no idea how to get started.
I have the experience, knowledge, equipment and land. I am currently looking at horses and have the blood lines and what I hope to accomplish. I do not what I need to do legally.
Can you help? Leave your own answer in the comments!
2 Responses to I want to start my own horse ranch. What do I need to do?
Leave a Reply
Enroll in a good college that has an agriculture program that has a farm husbandry curriculum. Find a job in a horse ranch to see how it is run and get experience. Or go to your local library and do research on horse breeding and horse ranches. Then develop a plan that you can present to a bank or people with money so that they can support your business plan to finance your ranch. Unless you have the education, the cash, the land, the equipment and the buildings, you have to have credibility and experience in order to have investors to fund your business plan which will result in your horse ranch.
Ditto on the bee raising.
Good luck.
Tav
October 19, 2011 at 8:36 am
You’re kind of asking this question under the wrong section.
Most of the folks here have small businesses. You will be starting a small FARM or RANCH.
The taxes are entirely different.
Lets say you opened a small gift shop selling do-dads. You never, ever, have to make a profit. You can run your business at a loss forever.
Entirely different with farm/ranch. You have three years to make a profit, per the IRS.
Otherwise they can start to hit you with fees if they are feeling nasty. At the very least you will be forbidden from filling taxes as a farm/ranch, and writing off your expences.
You really, really need to seek out advice from someone who knows how to handle setting up accounting and taxes for farms/ranches. This could be a lawyer, CPA, or anyone familar with the money side of farming.
It is so VERY different from regular small business things.
How do I know? Been doing it a while myself.
~Garnet
Homesteading/Farming over 20 years
bohemian_garnet
October 19, 2011 at 9:07 am