The daughter wants to start a horse boarding stable but the father explains the major financial barrier to entry is the upfront cost of land and facilities. To break even, she would need 27 boarded horses but only planned for 20, resulting in a $700 monthly loss. Unencumbered land and existing barns, common on family farms in rural areas, are difficult to obtain without generational wealth. High initial investment is a common barrier to starting small businesses.
Importance of Microsoft Project and Primavera Sagar Tilwani
This presentation discusses the difference between Microsoft Project and Primavera,their capabilities in managing project and overall project performance monitoring and controlling.
Importance of Microsoft Project and Primavera Sagar Tilwani
This presentation discusses the difference between Microsoft Project and Primavera,their capabilities in managing project and overall project performance monitoring and controlling.
Ini adalah penjelasan sederhana mengenai kegiatan yang telah saya rencanakan untuk membantu membina Perpustakaan Komunitas di sekitar Jatinangor, Sumedang, Jawa Barat
This book began as I walked
each morning.
to my office
and observed life
on the roadside.
It’s about
curiosity,
culture,
sidewalks,
wheels,
creativity,
and,
driven individuals.
Myanmar- From the Outside
This collection aims to
celebrate the innovation and
originality of the roadside
entrepreneurs of Yangon.
The images display many
aspects of the local culture
and identity.
But as Myanmar opens up
and changes at a rapid pace,
what will happen to these
informal vendors and their
trades?
Vietnam - From the Inside
In the main cities of Vietnam
the roadside entrepreneurs
are mostly women. This
collection documents their
trade and provides an insight
into their own life.
What do they hide under
their hats?
Why do they choose the
roadside?
Ini adalah penjelasan sederhana mengenai kegiatan yang telah saya rencanakan untuk membantu membina Perpustakaan Komunitas di sekitar Jatinangor, Sumedang, Jawa Barat
This book began as I walked
each morning.
to my office
and observed life
on the roadside.
It’s about
curiosity,
culture,
sidewalks,
wheels,
creativity,
and,
driven individuals.
Myanmar- From the Outside
This collection aims to
celebrate the innovation and
originality of the roadside
entrepreneurs of Yangon.
The images display many
aspects of the local culture
and identity.
But as Myanmar opens up
and changes at a rapid pace,
what will happen to these
informal vendors and their
trades?
Vietnam - From the Inside
In the main cities of Vietnam
the roadside entrepreneurs
are mostly women. This
collection documents their
trade and provides an insight
into their own life.
What do they hide under
their hats?
Why do they choose the
roadside?
“Wheel Tracks” is the official monthly publication for Vermont Automobile Enthusiasts (VAE) by the VAAS. Wheel Tracks is a monthly newsletter published in print and electronically for the public and it’s membership in ten states and two provinces. The newsletter began in May 1953.
antiques, automobile, automotive, autos, car, classic, collectibles, vermont, vt
“Wheel Tracks” is the official monthly publication for Vermont Automobile Enthusiasts (VAE) by the VAAS. Wheel Tracks is a monthly newsletter published in print and electronically for the public and it’s membership in ten states and two provinces. The newsletter began in May 1953.
“Wheel Tracks” is the official monthly publication for Vermont Automobile Enthusiasts (VAE) by the VAAS. Wheel Tracks is a monthly newsletter published in print and electronically for the public and it’s membership in ten states and two provinces. The newsletter began in May 1953.
“Wheel Tracks” is the official monthly publication for Vermont Automobile Enthusiasts (VAE) by the VAAS. Wheel Tracks is a monthly newsletter published in print and electronically for the public and it’s membership in ten states and two provinces. The newsletter began in May 1953.
antiques, automobile, automotive, autos, car, classic, collectibles, vermont, vt
Harrison discusses how the entire world around us is based on life pushing forward. A seed is planted and grows into a plant and sprouts more seeds. Harrison then translates this principle from life to our careers. In your jobs we need to be constantly adding value, focusing on giving more than what you take.
This UX Review analyzes the user experience of UtahHeritageCU.org from the perspectives of Kate and Adam. Kate and Adam are fictional humans, but the people they represent are very real for credit union marketers.
“Wheel Tracks” is the official monthly publication for Vermont Automobile Enthusiasts (VAE) by the VAAS. Wheel Tracks is a monthly newsletter published in print and electronically for the public and it’s membership in ten states and two provinces. The newsletter began in May 1953.
When listening about building new Ventures, Marketplaces ideas are something very frequent. On this session we will discuss reasons why you should stay away from it :P , by sharing real stories and misconceptions around them. If you still insist to go for it however, you will at least get an idea of the important and critical strategies to optimize for success like Product, Business Development & Marketing, Operations :)
Reflect Festival Limassol May 2024.
Michael Economou is an Entrepreneur, with Business & Technology foundations and a passion for Innovation. He is working with his team to launch a new venture – Exyde, an AI powered booking platform for Activities & Experiences, aspiring to revolutionize the way we travel and experience the world. Michael has extensive entrepreneurial experience as the co-founder of Ideas2life, AtYourService as well as Foody, an online delivery platform and one of the most prominent ventures in Cyprus’ digital landscape, acquired by Delivery Hero group in 2019. This journey & experience marks a vast expertise in building and scaling marketplaces, enhancing everyday life through technology and making meaningful impact on local communities, which is what Michael and his team are pursuing doing once more with Exyde www.goExyde.com
Textile Chemical Brochure - Tradeasia (1).pdfjeffmilton96
Explore Tradeasia’s brochure for eco-friendly textile chemicals. Enhance your textile production with high-quality, sustainable solutions for superior fabric quality.
How to Build a Diversified Investment Portfolio.pdfTrims Creators
Building a diversified investment portfolio is a fundamental strategy to manage risk and optimize returns. For both novice and experienced investors, diversification offers a pathway to a more stable and resilient financial future. Here’s an in-depth guide on how to create and maintain a well-diversified investment portfolio.
Best Crypto Marketing Ideas to Lead Your Project to SuccessIntelisync
In this comprehensive slideshow presentation, we delve into the intricacies of crypto marketing, offering invaluable insights and strategies to propel your project to success in the dynamic cryptocurrency landscape. From understanding market trends to building a robust brand identity, engaging with influencers, and analyzing performance metrics, we cover all aspects essential for effective marketing in the crypto space.
Also Intelisync, our cutting-edge service designed to streamline and optimize your marketing efforts, leveraging data-driven insights and innovative strategies to drive growth and visibility for your project.
With a data-driven approach, transparent communication, and a commitment to excellence, InteliSync is your trusted partner for driving meaningful impact in the fast-paced world of Web3. Contact us today to learn more and embark on a journey to crypto marketing mastery!
Ready to elevate your Web3 project to new heights? Contact InteliSync now and unleash the full potential of your crypto venture!
What You're Going to Learn
- How These 4 Leaks Force You To Work Longer And Harder in order to grow your income… improve just one of these and the impact could be life changing.
- How to SHUT DOWN the revolving door of Income Stagnation… you know, where new sales come into your magazine while at the same time existing sponsors exit.
- How to transform your magazine business by fixing the 4 “DON’Ts”...
#1 LEADS Don’t Book
#2 PROSPECTS Don’t Show
#3 PROSPECTS Don’t Buy
#4 CLIENTS Don’t Stay
- How to identify which leak to fix first so you get the biggest bang for your income.
- Get actionable strategies you can use right away to improve your bookings, sales and retention.
Salma Karina Hayat is Conscious Digital Transformation Leader at Kudos | Empowering SMEs via CRM & Digital Automation | Award-Winning Entrepreneur & Philanthropist | Education & Homelessness Advocate
1. Barriers to Entry
I’m not exactly sure why, but my daughter loves horses. It’s not like we’ve ever
owned one, and she doesn’t know how to ride well, but she has some definite
interest. She loves them so much so that she moved down to Florida last
summer to work at a few stables. The pay wasn’t exactly stellar, so I guess it was
more of a learning adventure. She now has a part-time job at a small stable for
rent type of place where she feeds and cares for horses. I couldn’t get her to feed
the dog, but call it a steed and she’s glad to oblige. One day when talking about
future plans, she mentioned that she was interested in starting a boarding stable.
I know nothing about boarding horses, but I do know some things about finances,
so I felt a teaching moment was upon us, so I took it.
2. For all of you parents or future parents out there, do not, and I repeat do not be the person that dashes
your daughter’s hopes on the jagged rocks of reality. It really upsets them and for some reason they don’t
thank you after you explain to them financial lunacy of owning a stable in utter detail. She gave me a new
title that starts with “A” and that’s not the beginning of awesome.
So this is a post on how to crush your daughter’s dream of owning a boarding stable in the country.
I’ve lived in a few small towns in New England for about 15 years—rural living at its finest—and there are
quite a bit of farms and on those farms they have barns, and horses go in barns. Pretty easy logic so far.
One interesting part of rural living is that very few people have a mortgage; that 10 acre lot has been in
the family going back generations, which was most likely split off the larger piece of property from their
grandparents. The barn was built back in the day when barn raising parties were all the rage, back when
family reunions were considered good opportunities to pick up a wife and you didn’t drive a 67 Mustang,
you rode a 6–7 year old Mustang. To say the least, everything is long paid for and there have been no
payments to the bank for generations.
My daughter has no land that’s been passed down through the generations, so she would have to pop for
a few acres and drop a barn on it. Just for easy math we’re going to say she can get the whole setup for
$500K, which she can borrow for 5%. Her monthly payment will be about $2,700 a month on her horse
ranch. I’m winging the numbers here a little, but to board a horse in Maine runs about $500 a month and
costs run about $400 a month, which leaves $100 per horse per month or $1,200 a year. Just for her to
break even she would need 27 horses. She was only planning on having about 20, so we have a little
problem here. People love their horses, but I’m guessing to get them to switch from one place to another
that costs more is pretty much impossible. She would lose $700 a month, which in a moment of stupidity
on my part jubilantly declared I would not pay.
3. Of course there are lots of other things it takes to have a horse stable, and for most of them we worked
through a feasible solution, but that unencumbered land and barn is pretty hard to get around. That is the
barrier to entry. It is the thing you really have to do to get into the industry and in her case not having free
land and a barn is pretty much the deal breaker.
Small business is full of barriers to entry. For the most part they are not insurmountable. Maybe you’ll
need a business license, maybe a restaurant permit, or some sort of certification from the state.
Whatever your plans are, you might want to take a trip down to city hall and do a little checking before
you go spending time and resources towards your dream (no matter how mundane it might sound).
Towns and cities have quotas too; if they have too many restaurants, bars, food trucks, or whatever, they
limit permits.
4. Thinking about owning a bar? A liquor license is worth its weight in gold, and depending on where you’re
looking to set up, there might be a limited number or too many bars where you’re located, so you get to
wait. It’s really hard to be a bar without a liquor license.
How about a food truck? You’ll need about a half a dozen permits, but because cities and towns don’t
make nearly as much tax revenue from a food truck, so those are pretty scarce. Plus, regular brick and
mortar business complain to the city about the unfair advantage food trucks have, since brick and
mortar’s pay more taxes, so guess who wins.
5. I’m just focusing on permits right now, but those are pretty important. Your barrier can be different. Often
it’s a big pile of cash, which is what’s keeping me from developing my Mars tourism company. It can be
something simple like getting a certification. (Who knew you need to pass the state bar exam before you
can start a law firm?) It might be as simple as insurance. You can’t operate a limo service without it, and
yes it’s really expensive. These are all examples of barriers to entry that you need to consider when
planning out your business.
6. There’s the other side of the coin. Once you get over that barrier it now becomes a barrier to entry for the
next guy. It’s a unique way to look at it. Who do you think has more influence over how many liquor
licenses are issued: local moms or other bar owners? I love moms too, but they don’t pay nearly the
amount of taxes bars do to the local government. Money talks, mommies walk, sorry to say. Don’t believe
me? If you have a Chamber of Commerce go to one of the meetings, such as a monthly breakfast or
something, and you’ll get educated real fast. It’s a game, and the first rule of any game is realizing you’re
in it.
The other thing to keep in mind is that the lower the barrier to entry, the less money to be made (generally
speaking). Think about the bar owners above—they’re not bribing the city, they’re just pointing out that
taxes are paid on profit. And if there are too many bars, nobody makes a profit and the city gets no
money. If there’s no money and the crossing guards near the school need to be laid off, this upsets the
mommies. See, mommies need bars, and they need to be profitable. It’s all causation.
7. Just something to keep in mind: if it’s an easy industry for you to get into, it’s an easy industry for anyone
to get into, and the next guy will do it for less money. Economic profit will always go to zero.
While planning your future endeavor, realize there is no substitute for due diligence. No matter what
industry you’re looking at, do yourself a favor and start doing the research now. Define those barriers to
entry and don’t be afraid to ask every question twice. Get a meeting with the mayor or the local chamber
of commerce and tell them what your plans are. Go out and kick the tires and make sure there is no rock
unturned, and of course, trust in God, but get it in writing from everybody else. The last thing you need is
to have your dream be put on hold because of one little thing, that of course turns out to be a big thing.
When I explain it like that maybe the “A” can be the beginning of Awesome….or maybe not.