If you consistently read Equus Education, you’ll know I have a passion for equine passive income.  I have touched on the topic of equine insurance before.  But today I wanted to consider the idea of equine insurance and passive income.

Passive income or residual income is earned by a product that you create once and are able to sell over and over again.  An example?  A horse book.  Once it is written and published, it can continue to earn money over the years without needing to be written again.

Equine Insurance and Passive Income

I believe equine insurance could work in this regard for those with the right knowledge and qualifications.  If you have a background in insurance and know horses, then you can create products in the form of equine insurance packages.  Insurance for stallions, competition horses, broodmares, young stock, etc.  The insurance is your product.  People pay a regular low fee (monthly or annually for example) for their horse/s to be insured.

Yes, if there is a claim you will have to pay.  But for the majority of clients that you acquire, there won’t be claims.  And so you’ll be generating regular passive income from people paying for their equine insurance.

If you wanted to make it truly passive so that you’re not doing any ongoing work, you create the packages and then hire people to market them and process payments.  Equine insurance and passive income, what do you think?

Your services would be of interest to competitors, racehorse owners, bloodstock owners and even those who own horses for pleasure riding.  You could also branch out into looking at horse business insurance.  This could be for horse riding instructors, liability insurance and more.

“Horses make a landscape look beautiful.” ― Alice Walker

Recently in town we’ve had a new Equine Emporium open.  It got me to thinking about horse stores as a business opportunity.  I’ve touched on franchises before in the form of saddleries, but haven’t really looked at horse stores in general.

A horse store could offer a niche product – like particular known brands by those who work on farms or with horses.  R M Williams comes to mind here in Australia.  Or they may focus on horse related gifts that you could get for that horse crazy person.  Jewellery, books, mugs, framed photos, statues or other trinkets that somehow link back to the horse.

Maybe the horse store could include tack and health care products for your beloved equine.  Even grooming equipment and riding gear could be included.  Or perhaps the store focuses specifically on accessories for your equine/s.  You know – rugs, head collars, boots, etc.

Horse Stores as a Business Opportunity

Whatever the focus, it is possible to have a horse store as a business.  Like with any business, the owner will need to do their research.  There will be costs associated with running a business, ordering stock, having insurance and advertising.  On top of this, it’s important to know that what you’re selling is wanted and will be purchased by locals or those visiting.

Have you ever dreamt of having a horse store in your local community?  What products would be most used or desired by locals?  Would they be easy for you to source?  Could you support local artists who have horse related paintings, drawings, photography or other items?  This may be something to think about.

“A horse which stops dead just before a jump and thus propels its rider into a graceful arc provides a splendid excuse for general merriment.” ― Philip, Duke of Edinburgh

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So recently I became aware of the Confident Rider Project.  This particular project runs for six months and costs to take part in.  It is carried out via free resources on a website, a Facebook group where participants can interact and one on one sessions over Skype or Zoom.  It seems to me there are a lot of people taking part and I got to thinking about horse programs as a form of passive income.  Sure, this particular program isn’t fully passive – there are one on one sessions that will take up your time as the creator.

Horse Programs as a Passive Income

But what if you could create a program (or multiple horse programs) that pretty much run by themselves for a set time frame?  Your topic could relate to horse riding, handling horses safely, breeding horses, writing about them or even photographing them.

As the program creator, you can create a heap of resources.  These can include audio files, videos, .pdf files, worksheets, activities, a Facebook group, etc.  These resources are made available to subscribers at set times throughout their program.  For example you could release a new resource and task to complete each week or month.  If you’re able to set up things to automatically release after participants reach a particular point (like finish watching one of your videos), then it can automatically progress without you needing to do much.

All you have to do is create the content and find a platform to release it on.  Then you promote your program and determine how you will receive payments.  From a specific date/s people can have information released to them (like in email automation).  They are encouraged to run through all that your program has to offer.  Of course at the end you can ask for feedback/testimonials.  And you can also promote other products / projects that you have available for sale.  What do you think?

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How many of you as children rode around on your father’s back? Or perhaps as a parent you’ve played this game with your children? Well someone has gone and cashed in on the idea, creating the Pony Up Daddy Saddles. This is a unique horse related idea that I think many parents will appreciate. And to top it off, I am sure the kids will love the idea of Pony Up Daddy Saddles, too.

As it states on their website:

“Pony Up Daddy Saddles have revolutionized the living room pony ride. Anyone that has played the part of the pony knows how important a handle is for the child to hold onto. Without the Pony Up Daddy your child will be tugging on your shirt, your hair, ears, neck chains, or anything else they can get a hold of. These were the exact issues we faced when designing the first Pony Up Daddy for our own kids. We needed something other than “the pony” for the kids to hang onto. We set out to make an easy to use, durable, comfortable, high quality saddle that could take anything the children could throw at it. The Pony Up Daddy has been designed by parents for parents. We hope your family will enjoy our saddle as much as we have.”

Now these saddles that are designed to fit mums or dads come in a variety of colours and designs. There are solid colours of red, pink, blue or black. Or if you’re after a pattern, you can get one in camouflage or even leopard. If you head on over to their website, you can see photos and even videos to display the toy at work.

Now this is another unique idea that’s been turned into a saleable product. Do you have an idea that might benefit others that you can cash in on for 2018? Interested in one that generates passive income?  Consider looking at my Equine Passive Income Streams course that explores over 20 different avenues to bring in residual income relating to horses.

If you’ve been reading Equus Education for a bit, it will come as no surprise to you that I love the concept of passive income.  In short, the idea is that you have a product that you spend the time to create once, but it generates you income repeatedly.  So I thought I’d put together a post about 5 horse passive incomes to consider.  After all, who doesn’t want to be earning money that relates to horses?  And if it’ll keep earning you money without you having to do much work beyond creating it, isn’t that even better?

• Horse books – this one might just be my favourite form of passive income. I am an equine author and I daily make money from my various books.  Yours could be short stories, aimed at children, aimed at adults or non fiction.  It doesn’t matter, as long as you know your content and can write!  When you create an eBook today they don’t even cost you in printing!  And you only ‘pay’ the platform you sell it on when you make a sale.  They get a percentage of your sale price and you get the rest as profit.  I am making money today from books that I published back in 2013.  Perfect!
• Horse courses – this is again about content. Perhaps you’re brilliant at turning out horses for sale or show.  Maybe you know how to ride really well and establish a good riding position.  Maybe you’re passionate about horses businesses and can talk relevantly with business owners about how to budget and market.  Whatever your topic, you can turn it into a course and people can pay to undertake it at their own pace.  It’s similar to horse books; you find a platform like Udemy to sell it on and you take a percentage of the course cost when someone purchases.
  (On a side note: interested in 21 different passive income streams relating to horses?  Check out my Equine Passive Streams course!)

• Grazing rites – now this one is for the person who has land and wants to make money relating to horses. You may know it as boarding, livery or agistment but I want to focus on the simplest form of someone paying for your land: grazing rites.  All they’re doing is paying to ‘lease’ a certain part of your land; they’re paying for their horses to eat your grass.  Chances are you’ll need to provide safe fencing, water and shelter but once this is sorted, the money comes in regularly by horses being on your land and owned by other people
• Horse related podcasts – perhaps writing and video aren’t your thing, so you’re not too into the idea of books or video courses. But talking, that you can do!  Audio files can be created on particular topics and made available for people to utilise – at a fee.  It could even be a monthly subscription fee to your ‘channel’ and you add content as the months go on!
• Equine educational resources – there are many people who teach varying forms of horses. They could be educators at a school, riding instructors or another form.  Often they’re happy to have resources that have already been created that fit in with their topic.  You can upload educational resources relating to horses.  People can then download as a digital product at a one off cost.  They can then use it for their classroom of 1 or of 30!  It’s up to them.  Again, I have many horse educational products that I have made over the years that still get purchased today.

Although I have considered just over 20 different passive income streams in my course that relate to horses, I am sure there are others that I am unaware of.  The rule of thumb is only that the product relates to horses!  And of course that you can sell it many times over.  If you want to build up income on the side with little input from you, consider setting up various horse passive income streams! 🙂