Running a farrier business requires time, energy, and talent – and you deserve to be paid well for the efforts that you put into your business. If you’d like – or need – to increase your business profits, these five strategies can help.
Market Your Farrier Business
Marketing can be a powerful way to grow your business and gain new clients to fill up your schedule. Truthfully, you should always be marketing your business, even just a little bit, in order to keep yourself visible in the local equine industry.
Just which marketing techniques work for you will depend on your target audience, your skill set, your time availability, and your budget. Marketing can be as simple as sponsoring some classes at local shows and putting up flyers at local tack and feed stores. On the other hand, you can go as far as to create social media pages, start a blog, and even explore content marketing.
Develop a Specialization
Developing a specialization can allow you to charge more for your services. For instance, if you specialize in shoeing a certain type of show horses – and you do it well – word of your talents will spread and you may find yourself highly in-demand by that certain audience. This specialization strategy can lead to increased profits, but you have to be great at what you’re doing and you need to specialize in a field where there’s a local demand for services.
Raise Your Prices
Raising your prices is a standard part of doing business, and it’s something that you’ll have to do at least every few years if you’ll stay profitable. With the rising costs of fuel, supplies, insurance, and more, price raises have to happen in your own business, too.
If you plan to raise your prices, announce the raises to your clients well in advance so they have time to prepare. Be sure to create something in writing, whether it’s a notice on the bottom of an invoice or a blurb on your website.
Maximize Your Tax Deductions
You may be missing out on tax deductions, which will eat into your profits. If you haven’t done so already, sit down with an accountant and go over potential tax deductions.
Then, be sure you track deductions throughout the year. The Farriers App allows you to take a photo of receipts, so there’s no carrying around paper receipts that can easily get lost. It’s a fast, simple, and organized way to track your deductions.
Get Control of Your Schedule
If you could shoe one extra horse per day, your monthly profits would increase significantly. With The Farriers App, you can better get control of your schedule, and can save valuable time on your administrative tasks. With simplified scheduling, digital invoicing, and the ability to take credit card payments on the spot, this App can save you time every day, so you get more done and increase your bottom line.
Sign up for your free 30-day trial of The Farriers App now. It’s completely risk-free (we don’t even take your credit card information!) and you can see the difference it will make in your business.