Have you considered an equestrian business?
Equestrian facilities can be both attractive and profitable for farm and land owners, believes Anne Clarke, from Connected Thinking PR.
Many farms already have stabling facilities for personal use, but converting a redundant building or developing your land could be an ideal diversification. Across the UK there is a shortage of quality equestrian facilities, so there is plenty of room in the market for newcomers to disrupt and challenge the status quo.
If you’re completely new to the market and want to dip your toe in the water, you could tap into equestrian tourism or set up a livery yard. These business models are ideal to help you build an understanding of customers’ needs. Once you have some basic facilities up and running, you can use them as a launch pad from which to test new ideas, products and services.
When the British Equestrian Trade Association (BETA) National Equestrian Survey 2015 came out, it showed that three million people took riding holidays. This figure is a combination of people using horses owned by trekking centres, but also those who chose to travel on holiday with their own horses.
The survey also showed there are 440,000 horse-owning households in the UK and one million horses. Many of these people need the services of a livery yard, as they do not have stables or land at home.
This is potentially a hugely lucrative market for farmers and landowners looking to diversify. Find out more and read the rest of Anne’s article by subscribing to Diversify Now here.