Thursday, October 23, 2008
Selling in a Depressed Market
Here are some steps you can take to avoid & minimize that…
Take GOOD or even GREAT photos. Take photos that are going to set your horse apart from the rest. Some elbow grease and effort can make the difference.
You need pictures that make people say “WOW! There he is… my DREAM HORSE!!!”
Muddy, furry horses aren’t going to sell for a decent price. Period. Don’t supply your customer with these kinds of pictures unless it is absolutely all you have, even then, make sure to do your best to get decent shots. A bad photo can be worse than no photo.
Offer plenty of relevant information about your horse in your ads. Don't waste potential buyer's time by telling them the life story of the horse, you can supply this information when they request it. Make sure your ad has the horse's age, sex, foaling date, sire and dam, perhaps some pedigree information, one or two major acomplishments of the horse.
Evaluate your website!
Make sure your website isn’t crowded with bad pictures, silly animations or other childish add ons that can drive traffic AWAY from your site. You want people to recognize that you have a good quality horse(s) to offer. You don’t want your website to feel like “Happy Hands at Home”…
List your horse’s attributes and use them build his/her value.
Selling online and even locally is all about perceived value.
People want to feel like they are getting something that is very valuable for much less… so use that to your advantage.
If your horse has famous well known ancestors or his siblings are doing well on a show circuit, let them know. However, let it be known in a polite way and use it as a selling point and not THE selling point. For example if you are selling a Quarter Horse stud colt and his dam produced 5 Halter Champions, let them know the names and if you have the information, the price they sold for and what they are doing now. This builds potential value for the customer, and often times, they may see the unproven prospect as an investment. People always want to get something for less than someone else.
The fun of shopping for a horse for many is finding a bargain!
Research your horse’s pedigree. Know it well so that when questions are asked, you are equipped with knowledge.
Offer videos! Video can be your best friend
Offer affordable payment plans. In a depressed market you may be more likely to get your asking price if you make it affordable for the customer to BUY the horse!
Use common sense; don’t market a 2 year old stallion with a kid on him. Some people would frown on you doing that. It can portray to people that you aren't concerned about safety. So use caution when choosing photos.
Don’t market a stallion prospect for 1500.00, at that price; his perceived value is that he is a gelding and likely will not produce valuable foals. There are exceptions to every rule however. However, it is safe to say that a good stallion prospect won't be purchased for $1500.00!
Research your local market and research your internet market.
Price fairly, but don’t sell your horses too short. You want to be able to sell them, however, the vast majority of people do believe on some level that you get what you pay for.
Be open minded and generous in your terms and you shouldn’t have any trouble selling horses!
Sometimes it is best to take an offer when you GET one, than to hold onto the horse thinking you're going to get more money and end up feeding him longer and risk selling him for less, or worse, having him die and have no chance of a sale at all!!!
Stallion Promotion on a Shoe String Budget
Everyone will tell you that promoting a stallion can be an enormous undertaking and cost thousands. Well, this may be true in some cases. But there are ways in today’s modern world of getting your stallion out there on a shoestring budget, without going bankrupt or taking out a 3rd on the house!
The first thing we will start with is establishing your brand recognition, you stallion becomes a representative of your ‘brand’ of horses. So it is important to get your ‘Brand’ out where your target market will see him- constantly. So for instance if you are standing an imported Hanoverian stallion and your target market is Dressage people, you are going to want to have him advertised where this type of horse person frequents, this includes websites, tack stores, feed stores, local barns, etc. Get your horse in front of these people, and KEEP HIM THERE. Post flyers at feed stores, grocery stores, gas stations and (with your WEBSITE!) leave a handful of your business cards with each flyer posted. People love business cards!
Advertise on the website where the people you wish to attract frequent the most, so in the case of a Dressage Champion Warmblood stallion- post flyers and advertise where Dressage people frequent- or whatever the case maybe with your type or breed of horse. Then, look at the all breed websites and email the webmaster to find the statistics of hits per day, per month, per year BEFORE you advertise. You want to advertise in the places that are attracting the majority of the traffic. Ask about entire year advertising, there may be discounts to be had and it is best to keep your horse out there at ALL times, not just breeding season. Out of sight, out of mind is a golden rule to live by when advertising and promoting a breeding stallion.
You want to spend your dollar where your horse will be seen the most. It is better to pay more for a well placed ad that generates lots of traffic then to have a few on more obscure websites that may or may not bring in the traffic at all. The idea of internet advertising is traffic that brings inquiries and that is where you get your sales. This same consideration should be given to all but the free advertising opportunities, if it is Free to advertise, take advantage, the more people see your horse on different sites, the more his name and "brand recognition" will stick in their minds.
So, you now have you stallion advertised where your ‘niche’ of targeted potential clients visit the most, and have him on a very popular and high traffic all breed website. ALWAYS include your web address in the ad, should the website not provide it for you via a link. We recommend www.Dreamhorse.com and www.Equine.com we have had great results with those sites and they have great rates!
After you have paid for a couple of good photo ads or banner ads on popular websites, it is time to blanket all the FREE Photo advertising that there is. How do you find them? Simple, run a www.google.com search for “Free Photo Horse Classifieds” That search usually yields pages and pages of results. Most of them require you to ‘register’ so I choose a username that I can use for all, and a password for all to make it easy to remember. Always include your website address in those free ads! The name of this new game is traffic. Also, the more people see your stallion repeatedly, the more brand recognition sets into their minds. It also gives the stallion stability, because wherever they go, there he is. So, he must be something pretty special!
That is why having a simple clean easy to use website is key. The easier you make it for people to navigate and see what they want- the better your results will be. Now that you have the internet blanketed and your paid ads on the best sites, look at your publications. You might check out the publications that are FREE at the feed stores. People always pick them up, sometimes religiously. Look at the ads and the prices, and pay attention to the dominant horses appearing in those magazines. Very often I have picked up an all breed magazine to find that it was mainly a quarter horse and stock breed magazine. Not a good place perhaps to advertise Arabians and Saddlebreds.
Look instead for the all breed magazine that truly has a variety, then look at circulation. Some of the Free magazines sell subscriptions, and sometimes there are a lot! So compare circulation, prices and of course, where your market is going to be. Place your ad with the magazine with the most variety or ‘like breed’ ads and with the highest circulation. Call and speak with them about giving you a year round special. It is best to keep your horse out there constantly in people’s minds and line of sight. Out of sight, out of mind. That is a very true statement in the horse world.
For specialized breeds, they often have their own, or even a few different magazines dedicated to the breed. Again, place your ad where it will be seen the most. We recommend ( for budget friendly ads ) to keep a year long ad running in the classifieds with a small photo. I don’t know a soul who doesn’t check the classifieds for horses for sale and at stud.
Let’s also look at the possibilities of the local Free Classifieds newspaper, ours is called the Big Nickel. I have never met a person that didn’t pick these up on a regular basis looking for something. These can generate a lot of traffic to your barn for lessons, boarding, training, people looking to buy horses, lease horses and breeding.
They are often very cheap to advertise in, and because they are Free and readily available at most all gas stations, small resteraunts, truck stops, etc, they normally have really high circulation. Often, they get passed about from erson to erson too, so as many as 3 people can read the one newspaper.
Usually they always have a pets and livestock section. Call them to find out how much it would be to have a small year round ad with a photo. Keep the ad simple, listing your services. Again, you are keeping yourself, your farm and your horse in people’s mind, locally, regionally and nationally with the tools we have at our disposal.
In addition to these services, it is also a great idea to have a presentation in the late summer, early fall to showcase your stallion and that year’s crop of foals, along with sale horses and such. We will be writing an article about having open barns and these kinds of events, however, keep it simple. Some Free Food, some education, a presentation of the stallion and his foals. This is a great way to get your clients more involved and help them market the foals. In addition to the stallion being presented you can have a ‘ year end production sale ‘ with maybe some silent bidding or something. Check with your local laws.
Be sure you invite the local 4-h and FFA chapters, your local breed youth group and post an announcement on your website, announce it in one of your premium ads, and take out an ad in the regional magazine and the local nickel. This is just like having a small horse show at your place, so make sure the horses are all groomed to perfection, your place is clean and you have plenty of volunteers to help out.
It is at this time that you want to offer breeding discounts, offer the in utero foals for sale for the following year and present to your guests what you are all about and what you have to offer. Get people caught in the excitement of your program, whatever it may be. Excitement is the key to happy clients, better sale prices and that means- more profit for you!
Wednesday, October 1, 2008
Selling Horses, Part Two
Step 4:
Pricing is always perhaps the hardest part when it comes to selling a horse.
Perhaps the number one key is LEAVE EMOTION and ATTACHMENT out of the price determination process. Just because you like or love the horse, doesn't make him valuable to someone else.
The first thing you want to do before pricing your animal is to shop the market and see what a comparable horse of the same breed is actually selling for. You need to compare Apples to Apples to get a clear view!
Identify your market. If you are looking to sell your horse to the endurance crowd, or the cutting horse crowd, do your research there! Find out what a 'prospect' generally sells for, what an accomplished horse sells for, and then evaluate your horse.
Here are some things to ask yourself (you might want to write this down)
· What would YOU pay for the horse?
· What is the physical quality level of the horse compared to what you have seen?
· Is the horse a 'Prospect' meaning he might be good for ___ (cutting, reining, jumping, western pleasure, etc?)....
· Does he have a show record?
· Is his pedigree filled with Champions and is he Champion Sired? Is the pedigree filled with Hall of Fame horses?
· Is he a Champion? (He had to win a class at a show to be a Champion!)
· Is his conformation good and true to his breed type?
· Good disposition?
· Can kids, beginners, non-horsy spouses or novices ride him?
· Have they produced well? ( breeding stock )
· Is he registered? Are the registration papers free of liens or problems?
· Has he been professionally trained
· Has he competed and done well
· Is he sound?
· What is his age
Those are just a few questions to use to price a horse.
For example if you have a 15 year old Arabian broodmare with a mix of common Domestic breeding, with nothing terribly rare or fancy, she has been a backyard horse, been a trail horse, had a couple of foals, but the kids and beginners can ride her, You might find her priced between $1000- 2000.00, depending on her individual looks.
Now if you have a mare that is similar and of a rare and sought after pedigree, has produced offspring that have either had championship wins, or exported to a foreign country, she is probably more valuable. You could probably expect to pay $7500- $10,000.00 and more for a mare like that.
The same thing could be said about a gelding that is a backyard trail horse, and a gelding with a good pedigree and an extensive show and training record.
STEP 5:
Now that you have good photos and a video created and saved onto your computer- Now what?
Take out a pen & paper or open a Word document, make a list of all the good things about your horse ranging from his disposition, size, color, training etc.
Now make a list of your horse’s weaknesses, examples: he hates plastic bags, he doesn't like turning to the right, etc. He chews wood, whatever.
Now, make a list of your horse’s accomplishments. These can be anything from, he has learned to tolerate having his ears clipped without restraint, and on a young foal maybe they lead, load in a trailer, tie and allow their hooves picked up. Maybe your horse has a show record, maybe he/she has produced beautiful foals- whatever the case may be, write it down.
Now write down what your horse would be capable or suited to doing. Honestly evaluate your horse. If he is a 14.2hh Arabian gelding, he may not be suited to higher levels of show jumping. If he is a 16.2hh thoroughbred, he might not be well suited to reining- you get my drift. If you need help, ask a friend or get help from a trainer.
After you have compiled this data on your horse, start writing a classified ad.
Here is what you ALWAYS want to include breed, name, age, sex, size, temperament, color and the level of training, and the level of the handler and rider. You also want a brief description of the horse's accomplishments and/or capabilities or prospects. Don't write a novel, some people dislike reading and a long ad may actually discourage them from reviewing your advertisement.
Here is a good example ad:
Chestnut Arabian Gelding, 5 years old, 14.3HH 'Chester' is an energetic, kind horse that needs an intermediate rider, who is confident and calm. He has had 90 days professional training; he is doing very well and has completed 1 25 mile endurance ride. With more conditioning, he could easily be capable of doing a 50 mile ride. He would also make a great hunter pleasure horse. $3500.00, offers considered. Video available 555-555-5555
Now let's look at Chester's ad...
The prospective buyer knows he is 5, chestnut and he is 14.3, they know he has been professionally started, that he is doing well for a green broke horse, according to the ad, and has begun a possible career in endurance. They also know that he is energetic, but kind, and needs a calm intermediate rider, so this will weed out the people looking for a beginner's horse. By putting offers considered at the end of the ad, it shows the buyer that you are negotiable.
Let's write another ad for a broodmare...
Black 15.2HH Arabian Mare, 15 Years old. 'Shana' is a beautiful, conformationally correct mare with a gentle disposition. She is sired by Ali Babba and out of Sheena. She has produced 4 halter champions out of 6 foals. She foals easily, breeds easily and has had no problems she is open for 2008. She is also broke to ride, she needs an experienced rider as she can be very hot, has been used primarily as a brood mare only. $8500.00, Video available 555-555-5555
Let's see what information we gave our prospective buyers on Shana.
We know she is good sized, 15.2, Black, Arabian mare. We also know she has had 6 foals, 4 of which were halter champions. We know that she hasn't had any problems breeding and we know she hasn't been bred for 2008. We are aware that she is broke to ride, but she is hot and has been just a broodmare. The sellers also gave a brief pedigree on her as well. That is a good, informative, brief ad.
Now you know how to write a good short classified ad.
STEP 6
Now that you have your photos, your video, your classified ad and a list of your horses attributes you are ready to advertise.
Where do you advertise? Well, like most horse owners, the obvious answer is either the internet or the local paper. If you are going to advertise on the internet, it is best to advertise where a photo can accompany your ad. Also, breed specific papers, magazines & websites may also be a good venue.
Here are some great websites to advertise on: Dreamhorse.com : Equine.com : EquineHits.com : Craigslist.com : Horse.com : and there are many many others! Do a 'Google' search for photo Horse Classifieds, this should yield more results.
Start with EquineHits.com, it is free and you can ad up to 4 photos. You can upgrade your ad for a few dollars. Then go to Dreamhorse.com, it costs a few dollars to get a photo ad, but it is worth it, the same with Equine.com.
If you need a faster sale, try your local newspaper, however you may not get as much for your horse as you might with an internet buyer.
The important key to being successful at marketing on the internet is being able to have all the resources available at a click of a mouse. Your internet shopper wants to know everything they can before they decide to contact you. This also helps weed out the serious buyers from the "lookey loos."
STEP 7
When your customers contact you by email, or phone, this is where your attribute list comes in handy. You are also going to want to keep any show records, pedigree and registration papers on hand to answer any questions, on breeding stock, having a progeny report is handy too. Keep this information next to the phone or computer.
It is IMPORTANT that you have this information readily available should they ask you. Organize it into a folder or a binder so that it is easy for you to find answers.
This makes you look professional and PREPARED. You obviously care enough to take the time to be ready.
Being prepared BEFORE you advertise will help you sell your horse while the interest is hot!
If you don't have photos, video or other things helpful to selling your particular horse and the buyer has to WAIT, they will find a seller that will give them photos, etc- and they will have BOUGHT a horse by the time you get around to it!
The other key thing is, if you are going to place an ad, don't go out of town for 2 weeks right afterwards! You want to make sure you are available to answer emails, to return phone calls. If you work during the day, specify a good time to call.
Being prompt is probably the BEST tool you can utilize when selling a horse. The buyer may have seen the ad on the internet, is very much swept into the idea of buying your beautiful horse, if you delay, they may decide they don't need another horse, etc.
When they call BE HONEST.
If you are selling the horse because you don't get along, tell them! Just phrase it carefully.
It is not WHAT you say it is HOW you say it.
If you are selling the horse because he is too hot, you might want to say something like, "I like him a lot, however, I need a calmer horse and he can be a little too much for me."
If you are selling a broodmare or stallion because he/she is no longer the quality you are after, you might say “She is an excellent broodmare and a great mother, however our breeding program is changing, and she no longer meets our needs..."
The other thing is this, DON'T VOLUNTEER negative information. If they don't ask, don't tell. It is my opinion that it is the Buyer's responsibility to thoroughly inspect, ask questions and carefully consider before they buy. If your horse paces, and they don't ask if he has any vices like cribbing or pacing- don't volunteer it!
However, if your horse has DANGEROUS vices, such as kicking, charging, bucking, striking, etc. YOU HAVE TO DISCLOSE IT! You can be held legally LIABLE for not disclosing a dangerous vice.
If your horse is dangerous, you may want to sell him/her via auction. There is no liability on you because all animals are sold "AS-IS". If after you have disclosed the information and they still swant the animal, make them sign a release form holding you harmless for accidents, injuries and death.
Thankfully for us, dangerous horses are few and few in between, but they are out there.
Many a time I have purchased horses without asking the right questions and have ended up with animals that I was less than thrilled with. From that, I have learned that it was no one's fault but my own. No one ripped me off, I just didn't ask enough questions.
Offer to mail a video if they are interested after talking to you. Be sure to mail it that day, the NEXT Day or Monday if it's the weekend. Get their address and phone numbers.
Allow a few days for them to get and review the video and then give them a follow up call. Ask them what they thought, then ASK for the sale.
Selling Horses Part One
How you sell, will affect your end price!
The way a horse is marketed will have the biggest impact on your bottom line.
Let's start at square one. You have a horse you either have purchased at a low price with the plan to re-sell or you've owned this horse for a while and you have now decided it needs to find a new 'employer'.
Step 1:
You are going to be needing the basics of tools when you sell a horse, photos, videos, pedigree ( if registered ) list of accomplishments, progeny records and accomplishments if applicable, etc.
Plan on inviting a friend over for step one, two and maybe even three.
“A clean horse is a SOLD horse..."
Start by getting your horse clean, sounds strange, but clean up your horse. Grab your Brushes & Combs, Groom him, bathe him, and clip him. Add show sheen and or baby oil on his coat to make shine, add some baby oil to his face to darken around his eyes, and on his muzzle. Prepare him as if you were going to a show!
For low prices on all your grooming needs we have ben shopping this one store for over 10+ years and always have gotten the BEST pricing: Visit the Jeffers Equine Super Store!
Grab your show halter! Remember to polish it up! A well presented horse that is groomed to perfection is more likely to catch a buyer's eye and hopefully their heart.
Step 2:
Then grab your camera and take some photos of him!
Get some good ones of his head, his body and a decent action shot (trotting or running or jumping) with today's digital cameras, you can take lots of photos and you will come away with at least a few good ones to use for marketing.
When photographing a horse, look for a clean, uncluttered, pleasant background. We don't all have beautifully manicured facilities, but I am sure we all have a nice tree or a bush, or a nice barn wall, if nothing else, use your front lawn. If there is something unpleasant in the background, try to position the horse's body in front of it so it covers it up.
If you can, invite a friend over who has a camera and ask them to photograph your horse as well. If they can, have they hold the horse while you photograph the horse and vice versa. Sometimes, a new perspective on your horse will yield amazing results! If you have someone else to help, it is great for 2 people to photograph the horse at different angles.
If you horse is acting bored or listless, use some props to get those bright eyed, alert shots. Some of the props I have used are: a plastic bag tied to the end of a lunge whip, a bottle (from bottled water, juice or even milk) with a few coins and a few small stones also known as a "shaker jug" This works great with Arabians and Saddlebreds! Also some people have used mirrors, umbrellas; I have also had great success with a peacock feather!
Have care when using the props, you don't want to scare them, only make them interested and alert. When shaking the shaker jug, just a couple of times should work. If they dance around and get nervous, don't shake as hard or as often. Unless you want that wild-eyed look, some breeds look great presented that way like Arabians.
After you have taken a ton of photos of them standing, turn them loose into an arena or a round pen for some action shots. This is where your 'shaker jug' will really come in handy, as they will likely want to roll and dirty themselves. When you see them start to roll, shake the jug at them to keep them moving while you shoot some video, or some moving shots.
Video, an important addition to Step 2:
Most digital cameras come with a video capability; you only need about 2-3 minutes of video footage of a horse. Also, you can take still frames from the video as well.
It is hard, but try to keep a steady hand and familiarize yourself with your camera's video shooting capability before you video your horse.
Make sure you know how to turn it on, off, how to record, how to zoom in and out and how to turn off the audio recording if you don't want that horrific wind noise and talking in your videos. Nothing can turn off a buyer like a windy video or someone screaming "Come on you old Nag!" or other things you don't want potential customers to hear. READ your camera's instruction manual. If you don't have one, the internet is a vast resource of information.
Now, you have some photographs and video of your horse. These are key tools for you to utilize when you are selling a horse. Today's horse buyer is an internet shopper who wants to see the horse and know as much as possible about it and your farm at the click of a mouse and ANY time of day.
STEP 3:
Review your Photos and footage.
Be honest, do they look good? Would you want to buy this horse based solely on one or two photos? Think that way, because your customer does!
Is the background OK?
You didn't shoot directly into the sun, causing dark shadows or worse, glare?
How does the horse look? Bored, Silly, irritable, nervous?
How about the leg placement? Is it pleasant to the eyes, is he standing square and under himself correctly so he looks as though he can win- or has the conformation to jump, rein, halter, etc.
*** Here is some homework to do, prior to selecting your final photos. SHOP the other horses of a similar breed type on the internet, How have they shown ( in the photo ) the horse, choose the ones that draw you in, take notes, you don't have to write it down, just observe more than a pretty horse. How is he standing? How is the background? Is he clean or is he dirty and standing in a mucky corral with green pipe panels? Most importantly- would you want to buy him? ***
Choose a headshot that best reflects your horse's good points and beauty, if his ear is cocked to one side or his eye is closed, don't use it. Imagine you are buying a horse picture for someone as a gift, which one would you choose? Then, get a second opinion.
The same goes for the video. You only need about 2 minutes of good footage. Much more than that can bore people. If you are pretty savvy, you will know how to hook your digital camera to your computer to 'capture' the video file. What I prefer is to capture the video on to a memory card that can be read from a media reader.
Once you have the file uploaded you can now edit it. There is various video editing software packages out there, but Microsoft windows usually comes with Movie Maker. This is an easy to use program with great effects and features that allow you to add music, photos and titles.
If you are unfamiliar with Movie Maker, take the time to read the tutorials- they are great! One word of advice, the program runs best when it is the only program open, save your progress often and have fun! There are also several FREE online tutorials to show you how to operate Movie Maker.
We are going to have an article all about Movie Maker and where to find help soon, so check back!
Selling Horses Part One, Quick Review:
Take good clear photos and video if you are able
Make sure the horse is clean
Write down your horse's attributes, accomplishemnts and faults ( keep this by the phone or computer so you have a quick reference )
Use Good, Brief informative Ads
Price your horse according to average market value
Treat every inquiry as a serious one
NO NOT EVER put 'SERIOUS INQUIRIES ONLY' in an ad!
Be prompt with your responses and courteous.
SEND VIDEOS & PHOTOS PROMPTLY
Ask for the sale!
Get a Deposit
Mail, Fax or email the contract!