In this episode of the Let's Talk Horse Business podcast, George delves into the critical topic of the livery yard business, highlighting the challenges faced by livery yard owners in today's economic climate. Drawing on insights from a post shared by Ibby McPherson and the Tampna Eventing Team, George emphasises the importance of recognising horses as luxury items that require appropriate care and investment. He discusses the rising costs associated with running a livery yard, including hay, feed, labor, and insurance, and stresses the need for transparent communication and fair pricing in the industry. George also shares his top 10 steps for livery businesses to raise their prices effectively while maintaining strong relationships with clients. This episode aims to raise awareness about the value of livery services and encourages listeners to appreciate the hard work that goes into horse care.
KEY TAKEAWAYS
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Importance of Setting Goals and Vision: Many livery yard businesses struggle because they operate without clear goals and a vision, often treating their business like a hobby rather than a viable enterprise.
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Rising Costs in the Equestrian Industry: The costs associated with running a livery yard, including hay, straw, feed, labor, and insurance, have been increasing significantly. This makes it essential for livery yard owners to charge appropriately for their services.
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Value of Horse Care: Horses are considered a luxury, and owners should be prepared to pay for the care and services that come with them. The podcast emphasizes that livery yard owners should not subsidize horse care at the expense of their own financial viability.
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Transparent Communication and Gradual Price Increases: When raising prices, it's crucial to communicate transparently with clients about the reasons for the increase and to implement gradual changes rather than sudden hikes.
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Building Relationships and Offering Value: Establishing strong relationships with clients and highlighting the unique value and services provided by the livery yard can help justify pricing and maintain client loyalty.
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About the Host
George Betson is a seasoned business entrepreneur with over a decade of experience, driven by a passion for both strategic business growth and the equine world. Starting his journey as a business graduate, George worked alongside his late father to run the family business, learning firsthand the value of hard work, resilience, and the essentials of building a successful enterprise.
Over the years, George has launched and managed multiple ventures, gaining deep insights into business strategy, scaling operations, and achieving sustainable growth. Mentored by industry experts, he’s developed a well-rounded approach to entrepreneurship that he now shares with others.
George’s love for horses began at age 15 and has since become a significant part of his life and career. As the director of Fonture Transport, an equine horse transport business, he has combined his business acumen with his equestrian passion. His commitment to the equine industry also fuels his personal goals, as he plans to return to competing in dressage next year.
Since July 2023, George has embarked on a journey of personal transformation, emphasizing personal development and aligning his values with his business ventures. He also runs his own property businesses, managing projects and partnering with investors to create opportunities that deliver safe and rewarding returns.
Now, George is excited to bring his expertise and passion to Let’s Talk Horse Business, a podcast designed to inspire and empower equestrian entrepreneurs. Through engaging conversations, he shares insights, strategies, and lessons learned from years of experience, helping others excel in both business and the equestrian world.