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When the hoof-care business started getting too hectic, Eric Thomas started requiring that horses be brought to his shop rather than spending time and money driving down the road. The 27-year shoeing veteran runs a multi-farrier shop in the Amarillo, Texas, area.
In a typical week, the crew deals with 100 to 130 horses. “This is one business where you are never caught up,” he says. “I found that I could get to more people if I sit still and let the horses come to me.”
Former Columbia University business professor Larry Selden says the bottom 20% of the customers in any business often generate losses totaling more than 100% of annual profits. At the same time, the normal 20% of “angel” customers (your very best clients) generate roughly 80% of profits.
As Susan Kayne of FarrierFacts.com in Albany, N.Y., reports, the first step toward improved profitability involves figuring out who are your “angels” and determining who qualifies as a “demon” client. The next step toward boosting profitability is to look past a year’s total billing for each client and assess his or her true net value to your business.
Based on results from a U.S. Department of Agriculture survey, laminitis is second only to colic as a reason for veterinary treatment...University of Illinois equine veterinarians indicate as little as 5% black walnut found in a load of shavings…