Below are 6 ways to generate extra income from your equestrian property.
These ideas don’t involve the regular boarding or lesson teaching income options as these are likely already part of your income stream as a barn owner.
Renting Stalls to Show Goers
If your barn is in close proximity to horse shows, or perhaps you hosts horse shows on the property, think about renting out any empty stalls to people who would rather pay a little less for a stall than what they charge at the show grounds. This does take a bit of work and you will absolutely want verification that any new horses coming in have had all their vaccinations and received a negative coggins result before you let them into your barn with other horses.
Naturally, this is extremely property and location dependent, but listing your horse farm for films or commercials is a growing trend in Ontario. You won’t want it to interfere with boarding operations but if you have a picturesque property this could be an options for you as well. There are two reputable sites where you can list your home in Ontario:
Clinics are relatively in expensive to run. If you can get in a good coach or trainer, you can charge a decent price to cover his or her expenses and keep the rest for yourself. Many people also charge auditors fees for people who just want to watch the clinics. If you have a large enough space and a suitable facility this could be a viable option for you.
If you have the time, offering services to your current boarders or to surrounding barns could be a great way to earn a bit of extra cash. Services such as blanket cleaning, clipping or trailering are all things we have seen barns do to try to bring in some extra income.
There are many ways you can make money on the side from advertising. If you do host events or clinics people such as realtors, tack shops and even liquor companies have all been seen advertising at these events. A few of the good higher-end barns with high-profile also receive sponsorship from tack companies which may not bring in extra cash but could save cash over time without having to spend on
If you happen to have extra living accommodations on your horse farm you could think about either renting out this accommodations to long- or short-term tenants. Airbnb is another good option especially if you are close to horse shows, you can take advantage of the much needed accommodations for riders and show attendees. Side note here – in the UK and I believe USA there is now Airbnb for horses. 🙂
The owner of the barn where we currently board was smart to purchase a property with multiple homes that she is able to rent out to tenants year round.
You could also rent out your barn to a trainer. If you have the facilities and the space, there are always new trainers looking for a spot to start or continue their training and teaching careers. For many people buying a horse farm is not viable so renting is the next best thing. If you only have a couple of horses but a large enough facility for a training operation this could be a great option to supplement some of those mortgage payments.
If you have a creative way to earn extra income on your equestrian property, we’d love to hear about it!