1	Horse Management Seminar January 26, 2008 Economics of Owning a Horse: Horse-Keeping At Home
2	There’s no such thing as a free horse!
3	Data from New Jersey Horse Industry Economic Impact Study, 2007
4	Operations by number of horses
5	Operations by number of equine-related acres
6	Data from New Jersey Horse Industry Economic Impact Study, 2007 Economic impact of $1.1 billion annually 7,200 horse and horse farm owners $377 million spent annually
7	Data from New Jersey Horse Industry Economic Impact Study, 2007 42,500 horses = $8,870 annual expenditure per horse
8	New Jersey Horse Industry Economic Impact Study, 2007 – Breakdown of Expenditures by % Equipment Purchase and Depreciation 10.6% Capital Improvements 8.9% Health 8.5% Training Fees 8.2% Boarding 8.0% Grain and Supplements 6.2% Hay/Forage 5.9% Taxes 5.7% Equipment Maintenance 4.2% Farrier 3.6% All Other Expenses 30.3%
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10	New Jersey Example: Costs Per Horse Health-veterinary fees, vaccines, etc. $25 $300 Grain 40 480 Hay/forage 60 720 Supplements, dewormers, topicals 26 312 Bedding 55 660 Supplies-grooming tools, buckets, etc. 9 108 Grazing maintenance-mowing, fertilizer 28 336 Manure removal 30 360 Farrier 140 1,680 Insurance 30 360 Maintenance-vehicles, buildings 167 2,004 Utilities 18 216 Membership/professional fees 17 204 Tack and clothing 42 504 TOTAL $687 $8,244
11	‘Start-Up’ Expenses Item Approximate Cost Saddle $1,000 Bridles (2) $100-200/each Blankets (2) $60-100/each Halters (2) $15-50/each Buckets, brushes, etc. $50-75 Other equipment $100-300
12	One-Time or Infrequent Expenses Item Approximate Cost Capital Improvements (new roof on barn) $5,000-10,000 Horse Trailer $8,500 Tractor/farm equipment $6,000-18,000 Fencing $200 per section Occasional barn help or boarding $20/day Competitive fees $100/show Training $50-100/hour Outdoor ring construction/refurbishment $10,000-25,000
13	Other Considerations Property taxes on additional land Local regulations Neighbors (“nay”bors) Location/access to the riding you want to do Life-span of horse
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