The economics of horse shoeing and other mysteries.

I rather like this quote from Ryan on the 'how many' thread:
'So today when I go out and work on the measly 5 full sets I have, which includes a show horse, a couple trail horses, and two foundered horses, the fact that I'll make the millworker's weekly wages in a day does make me feel better about only doing 5 head. '
My wife works in local primary school as a TA part time (also semi retired ) and she takes 'academically challenged' children out of class and helps them improve their literacy and numeracy skills but, by the nature of her work with them, she is also developing their confidence and self worth.
We work about the same number of hours and I regularly earn more in a day that she earns in a week.

So our horses' feet are worth more than our children's future...

PS. I have never grossed a grand in a day in my life...

Clients think when they write a check for during their horse that you're pocketing mostly all of it. They don't realize just what it takes to make that money. . .plus pay yourself, insurance, retirement, money saved for slow season, so on.

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I always wonder how the guy up north survive during the cold winter months? My clients for the most part stay on a six week schedule. A lot of folks only do their horses in the spring when the feet grow like crazy...in the winter months IF we have some extreme cold that hangs around I might push horses for 8 weeks. Now saying that , it is pretty easy for me to estimate what I will earn? I know what my monthly bills are, but still don't have a figure to actually pay myself a salary? I write everything out of my business account and let my bookkeeper deal with what is personal and business..I do put money into a Tax Account everyweek that pays the taxs and big expenses...it seems to all be the same? How do most of y'all actually pay yourselves?

Gas/Coke seem to be a tidy bill at the end of the day when you have 2 App
not controling both fires when making shoes

It sucks you lose about 40% of your income, luckily I don't have a lot of people that pull shoes for winter. Some pull them in November and then shoe them again in April.

I let my accountants take care of my wages. A meeting every quarter lets me know whether I pay myself a bonus or not.

I had to pay enough back in taxes for last year the wife said I can't take any more customers. Also how does it figure in paying for my wife's 8 horses?

shoe a few more then Gary LOl

Gary Evans if you use pins your profit margin will increase a lot , 1 nail 50p , 1 pin 10p , and you will get 4 shoeings from a pin if you reuse them , David whats a rasp ? i prefer save edge but get a lot more horses than that out of one , a cheap bench grinder with polishing wheels and even acid baths works wonders for prolonging the use of rasps is very cost effective ,

If you move your foot rasp to your finish rasp buffing them on a sisal wheel takes away the finish life. . .for me. But the sisal wheel greatly prolongs the life of a rasp.

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Mysteries....

You can see in the lifestyles of some farriers that they are doing a good number at good prices, and doing very nicely...

...but some of the guys that claim extraordinary numbers per day still have their arse hanging out.

2 + 2 = ?

True David

My old man always taught me:

Turnover is vanity, profit is sanity.

You got that right my friend.. I think a lot of why that is because you got some guys charging 50 bucks for a full set then two horse buddys at the show are talking one tells the other she pays 50 and the other says she pays 150..they just assume the high price guy is makeing way more profit..and never even considering the other guy is really losing money...because after all who works for free...its seems to any sane person you gotta make money to keep rolling...but there's guys out there that are truly loosing money if you figured his real cost..it cost a shit pile of money to run a Shoeing business and have benefits..

key phrase "with benefits"

Sober of those guys are simply turning cash into cash or have a fulltime job that covers their benefits

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There used to be a guy around here who was a multi-millionair. He would shoe for free, or ask that the cost of materials be sent to his favorite charity. I know this sounds crazy, but it's true. It was his hobby. When I was often called in to fix his messes, the client thought I was really ripping them off. I'd tell them "you can always call him back", and they'd pay me, but I could tell they resented it. I resented it too - I'm glad he's gone. I hear he's been working his way down the state, about 150 miles a year. Maybe some day you'll get to meet him Travis. LOL.

Regards

Sounds like that Canadian, Norval.