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There are differences in how every farrier approaches his or her business. Still, the most common and effective way to manage the finances of a farrier business remains knowing what it costs to shoe a horse.
The differences come out in the individuality of a practice. Not everyone works with the same types of horses. Some farriers may have more trims than shoeings — maybe no shoeings at all. Your location will greatly influence what you can charge clients, as well as many of your expenses. There are several more variables that differentiate farrier income and expenses.
Like other farriers, Pat Broadus uses this evaluation. Along with his brother Chris, he operates Broadus Brothers Horseshoeing at Shelbyville, Ky. These sons of farrier Sonny Broadus focus on the hoof-care needs of racehorses, Thoroughbreds on the farm and sport horses.
Broadus says it’s important to take a thorough look at a practice and be honest about what different elements affect it. This includes evaluating your cost per horse.
The chart below references the costs measured in the brothers’ practice, based on a 6-year average. Pat Broadus adjusted the chart…