How to Start an Equine Therapy Business

Start an equine therapy business by following these 10 steps:

1. Plan your Equine Therapy Business
2. Form your Equine Therapy Business into a Legal Entity
3. Register your Equine Therapy Business for Taxes
4. Open a Business Bank Account & Credit Card
5. Set up Accounting for your Equine Therapy Business
6. Get the Necessary Permits & Licenses for your Equine Therapy Business
7. Get Equine Therapy Business Insurance
8. Define your Equine Therapy Business Brand
9. Create your Equine Therapy Business Website
10. Set up your Business Phone System

We have put together this simple guide to starting your equine therapy business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out othersmall business ideas.

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

• What will you name your business?
• What are the startup and ongoing costs?
• Who is your target market?
• How much can you charge customers?

Luckily we have done a lot of this research for you.

What will you name your business?

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit ourHow to Name a Businessguide or get help brainstorming a name with ourEquine Therapy Business Name Generator

If you operate asole proprietorship, you might want to operate under a business name other than your own name. Visit ourDBAguide to learn more.

Whenregistering a business name, we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability.

It's very important to secure your domain name before someone else does.

What are the costs involved in opening an equine therapy business?

Costs to open can be substantial, especially if opening anywhere near a major city. Owners will need to purchase or lease the land, pay for staff, and board the horses. They’ll also need to factor in administrative and marketing costs.

What are the ongoing expenses for an equine therapy business?

Equine therapy camps will need to maintain their grounds, care for the horses (including medical), and keep up website and marketing materials. You’ll need to pay staff salaries and potentially attend ongoing educational opportunities to learn more about advancements in your industry.

Who is the target market?

The target market depends on the type(s) of therapy you want to provide. Some camps choose to work with certain types of disabled children, such as those with Down syndrome or those with cerebral palsy. Or they may work with campers with a variety of disabilities as a means of promoting tolerance and inclusion.

But another major market is children with emotional troubles. Some camps will work with troubled teenage girls only, or boys who have recently been released from a detention center. Camps may set up different sections of the grounds in order to work with a variety of kids. Advertising should be geared to both children and parents of course, but it’s primarily the parents or adult caretakers in a child's life who need to be convinced that the camp is worth it.

How does an equine therapy business make money?

Equine therapy camps charge a set rate for each camper to cover the costs of the program. If the camp is for-profit, then they'll usually set a profit margin onto their fees in order to have additional funds invested in the enterprise.

How much can you charge customers?

Because the upkeep expenses are substantial, even non-profit centers can charge up to $100 for a 50-minute session or several thousand dollars for a two-week experience. Most camps will offer varying programs for different budget levels. For example, they may offer group sessions at a reduced rate or a weekend experience rather than a full week at the camp.

How much profit can an equine therapy business make?

Non-profit camps obviously need to set their rates so they can cover the cost of operations, but a for-profit center can do very well if it can attract the right clientele. A week-long session with 30 campers for $2,000 will net $60,000 alone. If the cost of operations is 75% that of the admission fee, the camp would make about $800,000 in profit a year if they run programs all-year round.

How can you make your business more profitable?

Owners can consider branching out their services to include adults. They can even set up activities where employees come together for team-building days. Owners can modify the children’s activities to fit adult needs so that people can problem-solve and learn more about each other outside of the office.

STEP 2: Form a legal entity

The most commonbusiness structuretypes are thesole proprietorship,partnership,118bet金博宝 , andcorporation.

Establishing a legal business entity such as anLLCorcorporationprotects you from being held personally liable if your equine therapy business is sued.

You can金宝搏188是什么公司yourself and pay only the minimal stateLLC costsor hire one of the118金宝app for a small, additional fee.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

There are specific state taxes that might apply to your business. Learn more aboutstate sales taxand franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to aspiercing your corporate veil.

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Get a business credit card

Getting abusiness credit cardhelps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history, which can be useful to raise money later on.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with ourLLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate an equine therapy business. Learn more about licensing requirements in your state by visitingSBA’s reference to state licenses and permits.

Certificate of Occupancy

An equine therapy business is generally run out of a large piece of land. Businesses operating out of a physical location typically require aCertificate of Occupancy(CO). A CO confirms that all building codes, zoning laws and government regulations have been met.

• If you plan to lease a location:
• It is generally the landlord’s responsibility to obtain a CO.
• Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to an equine therapy business.
• After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening,it is recommendedto include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.

• If you plan to purchase or build a location:
• You will be responsible for obtaining a valid CO from a local government authority.
• Review all building codes and zoning requirements for your business’ location to ensure your equine therapy business will be in compliance and able to obtain a CO.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully.Business Insuranceprotects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face,begin withGeneral Liability Insurance. This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need isWorkers’ Compensation Insurance. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

Is this Business Right For You?

Business owners should ideally be compassionate people who want to help kids become their best selves. They should have a thorough understanding of how different types of kids interact with horses and which activities will best promote that connection.

What happens during a typical day at an equine therapy business?

Equine therapy camps may include any of the following daily tasks:

• Coordinating activities for riders
• Coaching staff on best practices
• Evaluating and assessing children’s strengths/needs
• Marketing/advertising
• Caring for horses
• Maintaining the property grounds

What are some skills and experiences that will help you build a successful equine therapy business?

You should have some experience working or volunteering in a camp like this. Jumping in without any type of formal training can make it that much harder to get the camp off the ground. You should also have some type of certification for working with horses either from the Professional Association of Therapeutic Horsemanship International or from a similar organization.

What is the growth potential for an equine therapy business?

There may be a need for something like this in your area, even if it doesn’t seem that way at first. These programs can be life-saving in a number of ways, which means that insurance companies and authorities alike are onboard with the work equine therapy business do. City officials or community organizations may even fund these types of alternative therapies as a means of curbing juvenile delinquency.