Rookie farriers or those new to an area often have the temptation to undercut prices to work their way into the market. You can set your prices low, but the work will catch up to your pricing. Low-end pricing will mean working on low-end horses.
“The amount of money you charge dictates the horses you work on,” says Jeff Ridley, APF, of Leighton, Iowa. “If you want to make it in this business, you need to be working on horses that get taken care of consistently. You need to work with people that are willing to pay for quality care.”
Undercutting also presents an economical challenge. Once a farrier sets prices low, it’s hard to work their way up to other shoers’ prices. It’s also hard for a farrier to manage business operations.
“If you’re trying to make a living, you have to charge money,” says Ridley. “You have to think of fuel, tires, insurance and retirement.”
Read more on the idea of setting prices and adequately charging for your services in the upcoming Getting Started In Hoof Care (A Career Guide For The New Farrier). This will be available on AmericanFarriers.com on September 1.