Recognize it as a Business

• One of the biggest mistakes people make when trying to turn a hobby into a business is neglecting the business aspect of the operation. This is a particular risk when it comes to raising and selling horses. Horse owners are naturally passionate about what they do, and it is easy to lose sight of the fact that horses are a business as well as a hobby. Before you attempt to start any kind of equine business, including one in horse sales, it is important to have a solid foundation in the rules of starting and running a business. It is a good idea to join your local Chamber of Commerce and seek out a mentor who can guide you through the non-glamorous parts of the horse business, such as registering your operation with the IRS, obtaining the necessary permits and paying your taxes.
  
  

The Importance of Training

• Whether you envision your horse sales business as a part-time sideline or a full-time career, it is important to have some horse training ability. When it comes to selling, horses training is the key, and a horse that is fully trained will be much more valuable than one that is barely started. No matter how well-bred a horse is or how great his conformation may be, without training his value will be limited. This is particularly true during times of economic downturn, when cash-strapped horse owners need to sell their stock.
  
  Those with an innate ability to retrain horses can often make a very good living by taking in untrained or poorly trained horses, teaching them what they need to know to be good equine citizens, and reselling them at a tidy profit.
  
  

Contacts in the Industry

• The horse world is a very small place, and at times it seems like everyone in the industry knows everyone else. That is why it is so important for anyone planning to run an equine business to develop solid contacts within the horse industry. Developing a strong network within your chosen breed will help you gain the prestige you need to make a go of your business. When it comes to horse sales it is always helpful to have a good reputation in the horse show or horse racing world. If your potential customers see you as a competent producer of quality show and racing stock, the horses in your stable will be that much more valuable.