Horses are an integral part of the culture of the UK. Horse riding is a favoured pastime of millions of people, whether it is casual or competitive, and even larger numbers of people enjoy watching races and betting on the outcome. The equestrian industry is very broad and brings a lot of revenue to the UK economy on an annual basis. You can find stables up and down the whole of the UK and a wide range of people are engaged in equestrian activities in one form or another.
The British Horse Society claimed the estimated cost of the upkeep of horses was Â£2.8 billion a year or Â£3,105 per horse between 2010-2011. An extra Â£557 million in other expenditures associated with equestrian activities was also expected for the same period. These figures show how much demand there is for high quality stables and other equestrian facilities.
Opening up your own stables, whether it is for your personal use or as a commercial pursuit, can be a great source of income. The demand is certainly there and if you go with the second option you could find yourself making large profits. The initial investment will depend on the size of the facility you want to open, and you’ll need to weigh up the costs carefully when you start planning.
If you are thinking of opening a stable you can take out a loan to cover the cost. Equestrian finance is a niche market but there are a number of providers that offer it in the UK. Lenders will let you borrow an amount based on your plan and the amount of money you have as a deposit. Securing the funding is easier when you put the land as security because there is always good residual value, particularly with agricultural sites. A strong business plan with revenue potential also looks positive.
When taking out a loan you need to read the terms carefully. They will differ depending on the provider so you should take the time to be absolutely clear on them. If you need help finding equestrian finance or want support when looking over terms, we will gladly assist you. Our knowledge of the sector is extensive and we take pride in our ability to help people find the right loans for their projects. From equestrian finance to hotel loans to mortgages, we regularly work with a range of clients from various different sectors.