Equine Appraisals & Coronavirus
Like any industry, the equine world has taken a hit this past year. In fact, 33% of equine business owners have reported severe effects. These struggles have taken their toll across the industry, with everything from show jumping shows to children’s riding lessons coming to a practical standstill.
Horse appraisals and sales have especially felt the sting, with many companies entirely unaware of how to adapt to make these processes possible during coronavirus lockdowns & the corresponding trading restrictions.
Luckily, there are ways around this, and countless companies at the forefront are still managing to acquire top-quality horses. But, how can you achieve that same goal without compromising the safe practices you’ve spent the past year putting into place?
Spread the word online
Traditionally, equine businesses hear about prospect horses from a range of sources, specifically word of mouth. For now, though, word of mouth is pretty much dead in the water, leaving many companies unsure of what’s on the market.
The answer to this is simple, and it comes in the form of social media. Businesses across industries have made the most of this marketing platform since the pandemic hit, and you could do the same to appeal for leads. After all, social media is all about community, and even online, a well-built and trust-filled community could see the next hot prospect landing right in your inbox. When it comes to selling your new horses, be careful about using social media to advertise as you may fall foul of Facebook’s ban on animal sales. Not only will your selling post be removed but you may also lose your business Facebook page and access to your personal profile. Check out this blog post for more information about how to tackle the Facebook horses for sale ban.
Find new ways to appraise
While online communities might be able to point you towards the right horses, you won’t want to invest in an animal you’ve never seen in action. As such, it’s fundamental to find safe ways to appraise in person. It goes without saying that contactless appraisals should now be standard, but you’ll also want to consider things like limiting your team on-the-road, providing safety equipment, and reducing the need for trial rides, etc. by asking the existing owner to get in the saddle, allowing your team to observe everything they need to see from a safe distance.
Enhance your buying power
Even once you’re certain you’ve found a horse worth your profits, you’ll want to consider how you buy. After all, cash is pretty much off the table, whilst a bank card that’s passed from one member of your team to another will never serve your safety purposes. By comparison, something like a straight up bank transfer would allow any member of your team to invest without risk of transmission. Unfortunately, safety risks with this option do need consideration when moving such large amounts of money. In that sense, alternatives like a virtual debit card might actually be a better option. This way, you get the ease of contact-free payments, but with some much-needed peace of mind.
Appraisals are undeniably more difficult now, but that doesn’t mean your stables need to stay empty. Rather, you need to reassess your processes and implement coronavirus-proof methods like those mentioned to keep your teams, and your potential customers, as safe as humanly possible.