While the latest edition of the “Farrier Business Practices Survey” will be coming your way this fall in American Farriers Journal, we recently took another look at some of the 2008 data in an entirely different way.
We analyzed the value of three different styles of learning among full-time shoers — attending farrier school, serving an apprenticeship and investing in continuing education. Here’s what the AFJ staff learned about the importance of farrier education:
Among full-time farriers who served an apprenticeship, average gross income in 2007 was $80,951. Among full-time farriers who did not participate in an apprenticeship, average annual income was $77,371. Over a 20-year period, the difference in the value of serving an apprenticeship would be an additional $71,600.
Among farrier school graduates who served an apprenticeship, average yearly income was $82,039. For grads who did not apprentice, average gross income was $80,249. Over a 20-year period, the value of farrier school graduates taking time to serve an apprenticeship would be additional $35,800.
There was even more of a significant increase in income among full-time farriers who attend footcare conferences, such as the International Hoof-Care Summit. Full-time farriers who attend conferences had an average gross income of $94,590. This compared to $72,615 for full-time farriers who decided not to invest in continuing education. That’s an astonishing difference of $21,975 per year and definitely indicates the value of continuing your education. Over a 20-year period, this would amount to an additional $439,500 of income.
Conducted among a cross section…