Farrier Price Worksheet

Download the Farrier Price Calculation Worksheet [XLS] »

Determining a fair price to charge for your skill and experience of shoeing horses can be daunting.  You want to be fair to your clients AND to yourself and your family.

Some farriers start out by establishing their price based on other farriers in the area.  This is probably the best way to go out of business.  You might be taking in the same amount per horse as someone else, but most likely you have different business and personal expenses.  Another farrier might not be setting their price based on sound business practices.

Some farriers set their price based on what 4 horseshoes and 28-32 nails cost.  This is also a poor way to determine the price you must charge to shoe one horse.  In order to set a fair price you need to include all of the costs of the operation:  things like vehicle costs, insurance costs, tool costs, retirement and vacation benefits, telephone, accounting, etc. etc.

Successful farriers establish their prices based on sound business and bookkeeping guidelines.

First, set your business up as a business. Every state’s Secretary of State has information about establishing a business as an LLC or Corporation.  Often you can complete the paperwork on their website for a nominal fee.

I created a spreadsheet that calculates what you need to you charge based on your individual business and family expenses.

Download the Price Calculation spreadsheet  from the link shown at the top of this page.

I have had an accountant review the spreadsheet and formulas for accuracy, I recommend that you share it with your accountant and get their input.

This spreadsheet requires that you spend a little time to enter your expenses accurately, but in the end it will calculate how much you need to charge for each horse you shoe in order to meet all of your business and family financial requirements.  The price is based on your numbers for 1).  How any horses you wish to shoe each week.  2). How many days each week you want to work, and 3). What your business and personal expenses are.

It also allows you to choose either 2 or 4 weeks if personal time.  Time when you do not have to shoe horses, time for vacation, family activities or other time away from shoeing.

There are sample numbers to show you how it works.  Most cells have “pop” up notes that explain how to enter data in that cell.  As you move the mouse over a cell, a note will “pop Up” telling you what information is needed in that cell.  Green cells are for you to enter information or dollar amounts.  You can enter your business data in them.  Non colored cells contain the formulas used in calculations.  Those cells are locked, so you are prevented from changing the information in them.

If you have any comments or questions, feel free to email me at:  bob@spanishlake.com

Educational Video Channels

Business Reference

Dealing with difficult clients – Here are a few articles that provide perspective for dealing with a difficult client.

Building Good Client Relationships

 

 

Publications

The Natural Angle – newsletter

The Natural Angle is a cooperative, quarterly newsletter. Farrier Product Distribution, a major supplier of farrier products has joined Spanish Lake Blacksmith shop and several other supply shops to produce this award winning newsletter.
www.naturalangle.com

Associations

American Farriers Association

The largest professional farrier association in U.S.
www.americanfarriers.org

American Farriers Journal

Wide variety of farrier related information
www.lesspub.com/afj

Hoofcare and Lameness Journal

A quarterly magazine dedicated to hoof matters.
www.hoofcare.com

Blacksmith Links

ABANA

National Artist-Blacksmith Association
www.abana.org

Blacksmith’s Association of Missouri

Missouri Blacksmiths have an active association.  They meet regularly at member’s shops throughout the state, providing educational training, sharing techniques and information.  They hold an annual 3-4 day event each May at the Missouri State Fairgrounds in Sedalia, MO.

The Blacksmith’s Journal

The Blacksmiths Journal a publication that many believe is the best blacksmithing resource magazine available.
www.blacksmithsjournal.com

 

Distributors

Farrier Product Distribution

Distributors of high quality farrier products. Kerckhaert horseshoes, Vector nails, Bloom Forge tools and more.
www.farrierproducts.com

Delta Mustad Hoofcare Center

  The Delta Mustad company manufactures and distributes products related to hoofcare and farriery.  They also provide excellent educational information for farriers, veterinarians and horse professionals.