How to Price a Horse for Buying and Selling?

Buying a horse is no joke and it takes some time to figure out what to look for and how to price compare. Price comparison allows you to take a more systematic approach. While you may trust the person selling the horse to you it is always good to know and understand price comparison. While Escanaba Polo Mallet Company is a good works business that sells mallets and hopefully equestrian gear it also seeks to raise awareness on how to run a manage a micro manufacturing business. Price comparison will be a big deal and difference in better understanding what you are willing to pay and what you are not willing to pay when selling a horse. 

Price is somewhat subjective and is influenced by the market (i.e. the need for a price comparison) and your personal preferences. So to understand how much you should pay you will need to sort of think of what you are looking for. 

Target Market Average

Having one large pool does little unless you want a very loose and inaccurate prediction of price at say 70 different horses in the area with an average price of $3K. That includes old, young, rideable, and un-rideable horses in the same pot. Thus if you break down by your target market you might get a more accurate description. So in Bella's case I might look at the Midwest any any city within 7 hours drive. People who are interested in a particular horse may be willing to travel that far. The further you go out however, the more likely your price will drop as people are naturally going to look closer to home first to reduce effort and cost.

By Target Market avg. tm = $3K

Breed Average 

Since Bella is an Arabian-Quarter Mix she isn't going to be in the general category and therefore we might consider looking at Arabians. Once we have looked at all of the Arabians listed in multiple sites from my target region we have an average of $8K. Many of the ones listed as Arabian appear to be mixed in my search so it will make it difficult to find Arabian-mix unless we clean the data by removing terms like "Thoroughbred". 

By Breed avg. b=$8K (Likely a little lower)

It is important to remember that people don't have the time to widdle down to a finite category unless they are in the high end "horse trading" business. Most people want to give horses to their kids, take classes, have a farm, etc... Thus, they may be interested in Bella the Arabian-Quarter mix or they may be equally willing to pick another breed for pleasure riding purposes. So you will need to price based on the functional value of competing categories. For example, Bella would have to be priced in a way that is not too much over, or too much under what the average person is willing to pay to own a horse (unless you are in a specialized market).

Training

What I also noticed from the listing sites that there are difference is price for training. Those horses that have a lot of training and functioned in a competitive capacity are worth more than those who are only partially trained. Bella has had professional training and regular riding but hasn't competed much. The plan was to compete with her this coming year. Yet all of the ground work is mastered which makes her a good ride for most people and she also has the foundation to be competitive in hunting, barrels, etc... So the higher trained horses are 10K+ while the lower trained horses are around 2K. In this case I might place Bella in the 6-7K range. She would appeal to someone who wants to ride pleasure but also perhaps move into competition as well.

By training average Low Range Training LRT = $2K and average High Range Training HRT= $6.5K

Other Differentiation

You can choose whatever differentiation and factors that you want.  The problem you will face is that not all of the data is available. If you were a serious horse hunter you would look at all of the different factors and narrow yourself down to a few in your region you would seriously consider. Eventually, it will make no sense to break down the categories any more. There simply isn't enough informational value learned from the exercise. 

What is Bella Worth on the Market?

We have a range that would work when we consider our target market $3K , breed $8K, and training 6.5K. This is where one has to use their strategy. I'm focusing on the younger rider that wants to do some competing but still needs to work with the horse a little to find their particular groove. I would put this value around $6K. If I was going for a different marketing I would have a price based on the needs of that market. 

$6K isn't our final answer.....

4 P's Product, Price, Place Promotion

Before we list Bella for the wrong price lets weigh and balance against the 4 P's Product, Price, Place Promotion. 

Product: 8 Year Old Mare Arabian Quarter, Trained, Ready-to-Ride, w/ Performance Potential.

Place: Markets that are within 6 hours drive. (I would discount our $6K by at least $1K for people who are driving. The value declines the longer they have to put effort, gas, etc... into it. So people who want to buy Bella might get a $1 K discount at time of purchase if they are over 2 hours drive away. It is hoped the incentive raises the value.

Promotion: The location is dependent on our market but in Bella's case it will be online forums as the easiest way to reach potential customers as well as local Word-of-Mouth. Bella is well liked at the stalls and there is some interest in her as she is gentle for children and still able to jump and canter making Word-of_Mouth WOM likely.

Price:

If we do a little calculation we will find........

$6K -1K (driving discount)=$5K

Our competitive price for Bella based on her offerings and worth is $5K. That price would not be out of the reach of many of the casual riders and might be just under the starting level for competitive horses. Thus, if someone want to buy for casual riding they could or one could buy to train for competition. It allows us to maximize our customer base by being close to both by understanding your product. The goal is to increase the likelihood of sales while if we raised the price we would have less sales but more profits (scarcity and value).

Trust as Essential to Sales

There is one more value component I would like to discuss and that is "trust".  People want to trust that the information on the product they are considering to buy as worthwhile. Thus, being open to phone calls and allowing interested parties to discuss issues with the trainer is helpful. They can ask direct questions and obtain direct responses. 

Even with an informative and positive conversation it can be difficult to trust if you have to travel or pay for a horse that may have problems a few weeks down the road. They call it "horse trading" for a reason and some of the people are not honest. I build my reputation as much as possible on being honest; even when its not in my best interest to do so. So in this case I might offer a type of guarantee. 

That guarantee would come in the form of a Health Certificate from our local veterinarian. Once the potential buyer shows interest and is willing to put down a $200 deposit I will obtain a health certificate. If they fail then I eat the cost, if the horse has a positive evaluation and the buyer purchases the horse it is paid for, but if it receives a positive certificate the buyer backs out I keep the $200. 

 Based on our very simplified quick price comparison expect to pay $2-4K for a pleasure horse you can ride right away and over $8K for a horse you could use for competition. Bell is in between those ranges and would have a fair market value of somewhere around $5K  (that is assuming I'm not missing something).

Bella 

• Arabian-Quarter Mix
• 8 Years Old
• Professional Training-Starting Competition
• Easy to Ride for Beginner-Intermediate
• Light to Touch
• Western
• Talk with Trainer
• $6K -$1K (For people traveling over 100 miles).
• Health Certificate Evaluation with $200 Deposit (Optional if Both Parties Want or You can Just Make Purchase) Come and Try Her
• Murad 619-540-0501 escanabapolomalletcompany@gmail.com

A video I played with and created. I was actually doing it for something else but thought it turned out well. Cost me like $3.99 at ClipChamp. Not bad.

Escanaba Polo Mallet Co Logo Tote with Free Shipping

 

Tote $35 Free Shipping!

• 12.0 oz., 100% heavy cotton canvas
• Bottom gusset
• 23" web canvas handles
• 10" handle drop
• Imprint area: 14"W x 10"H

20"W x 15"H x 5"D

Please send $45 to PayPal with size requirement and name of item. This item has free shipping. If you have questions contact escanabapolomalletcompany@gmail.com

Creating Effective Ads-Examples from a Polo Mallet Company

 Companies have to create advertisements that will attract people and maintain a sense of a brand. Playing around with some advertisements of my own I found where some mistakes were made and vow to correct them at a future date. What I do find is that the strategy and the marketing approach should be very much aligned and sometimes there are undefined aspects of your campaign because you have not operationally understood how something functions in "real life".

Its important to remember that Escanaba Polo Mallet Company is a good works company that donates away much of its profits to charitable causes. One of the goals is to also raise awareness of micro-manufacturing needs as a viable occupational alternative that has the power to repower our nation through our innovative spirit. So the article is as much about teaching as learning and as much about learning as teaching; a mutual process. 

I'm playing around with my amateur painting and thinking of ideas on making an effective advertisement. As with anything you are doing there is room for improvement. Beyond the obvious of being a better painter there are a few things I like and don't like about advertisement. The main goal was to use color to attract the eye as color in places like newspapers can give a 41% boost in median sales (Sparkman & Austin, 1980). Its a pretty old study but you get the idea on how color creates marketing impact. 

What I Don't Like:

1. Sky should be brighter to give the impression of a lazy day. 

2. The message could be more clear. I think it could be written a different way. 

3. Confusion between water polo and horse polo. The background doesn't complement the message and it doesn't give hints on what actions the readers should take next.

4. I don't like the box in corner and should integrate the box or find a new location. 

What I Do Like:

1. I like the use of colors because they attract the eye. I think a painting (at least a good one) could sell on emotion as primary and logic as secondary.

2. While I think the display lettering needs work I would say that the basic idea is there but needs greater integration of elements from font to background. 

3.The picture is fairly crisp and contrasted with the background. 

https://www.escanabapolomallet.com/

Sparkman Jr., R., & Austin, L. M. (1980). The Effects of Sales of Color in Newspaper Advertisements. Journal of Advertising, 9(4), 39–42. https://doi.org/10.1080/00913367.1980.10673336

Small Business Adaptation of New Polo Mallet Features-New Weighted Head!

 We listen to our customers regularly to see how to improve our products. We want to make one of the best most affordable American made mallets on the market. Each time we hear feedback we make adjustments and keep increasing our quality. We had high rankings before but want to be the absolute best we can be at Escanaba Polo Mallet Company. There are some steps I follow to gain as much feedback methods as I can to make improvements and changes.

1. Review Customer Wants: Everything goes back to your customer and what makes them happy. 

2. Define the Problem: We had a few people indicate they would like to see a heavier head. I couldn't agree more so I set upon a path to weight the head while still following my good works objective of sourcing locally. 

3. Experiment: Experimenting with different methods makes a big difference in new solutions. I experimented with different styles and weights and found what works best. Through experimentation I came on a process that works well for me so you will want to explore your solutions. 

4. Sell and Gather Feedback: The process of business renewal and improving the product makes a big difference in long term product success and marketability. Talk to your customers, get to know them, look at what people say about polo mallets and what kind of features they want. Do your market research.

In this case I used lead to make the head slightly heavier give it a little more bend in the shaft and the crack of the ball. While most people liked the heads we had and repeat bought we always want to improve (i.e. feedback loop). We then put just a little more weight into the head and found a way to customize this if need be. I believe that is the general strategy in which we will go. To create the best custom mallets for the price and then create a brand off of our mallets. Its just about learning and applying.

Escanaba Polo Mallet Company that is good works oriented and helps children, horses and encourages greater awareness of business principles of entrepreneurs. https://www.escanabapolomallet.com/

Escanaba Polo Mallet Co. Supports Micro-Manufacturing and Industry Development in Delta County Michigan

 Escanaba Polo Mallet Co. is a good works business that donates much of its profits to charitable causes. We also seek to help and support our community through thoughtful engagement and positive contribution. While we are still a small start-up we are helping to raise understanding of entrepreneurship and the development of micro-manufacturing in the U.S. as a way of helping people engage in entrepreneurship while contributing to a stronger economy.  A better tomorrow is achieved by fostering our youth today. 

We make mallets and in turn encourage knowledge of polo playing, people in need and small business principles. We are not big but have some plans for expansion into polo and equestrian equipment. We are going to go where the market winds push us. Maybe somewhere far or perhaps somewhere close by.  It doesn't make a difference. Its the journey that counts. 

So the following post was created as feedback to Delta County Michigan's Master Plan. It is meant as a helpful dialogue that moves the plan into deeper positioning on strategy. Exactly how those things were going to happen wasn't fully settle upon within the documents presented for public consumption. Therefore, there is room for new ideas and theories on how to help our community grow. 

You may see the post below......

Feedback on Delta County Master Plan-Development of Downtown, Business and Industry

Revitalizing and rejuvenating Delta County to align and overcome new challenges presented by COVID and global influences needs new and unique ways of besting market challenges. The Master Plan offers opportunities to create a long-term approach to enhance the local economy and improve local life. I hear people complain about the Master Plan but I can't find a lot of things to argue about. Most of what it says makes sense and in turn will be helpful to the community. More activities, attracting younger people, encouraging different types of housing arrangements, enhance transportation advantages and attracting more industry into the area are all good recommendations! How this is going to occur is a whole different situation!

I can't blame them as that requires a lot of time and research. I have a few ideas based on a larger theory I'm working on that could be useful here. If its helpful that is great and if not....no worries. Yet I think that it will be helpful for framing the possibilities.  A few of the articles are below......

We can't just wish these things to happen and must create opportunities that raise budgets and encourage greater retention of a younger more educated crowd that are willing to start businesses in the area and/or work remotely. To be successful means having the will and the way. Delta county has an opportunity to draw in a more youthful generation with higher wealth in a way that increases downtown housing/condo variety, improved retail, micro-manufacturing industries, employment, recreation and entertainment. 

We can beat the global market.....

As each of the sectors develop it can strengthen the appeal and financial resources of the area that leads to growth for Delta but possibly manufacturing in other local regions. You might wonder how that is possible? That is dependent on the type of industries Delta County attracts and how we hedge our existing strengths. For example, attracting a distribution center with the areas ports, roads, rail, and airport can make a big difference for the military and manufacturing in the region alike. 

I would consider some suggestions here....

Attracting Talent While Rebuilding the Downtown, through Maximizing the Benefits of Natural Resources with Tourism Micro-Manufacturing:

We know we have great trails, hunting, fishing and much more. The post Covid world wants these things and there is no reason why we can't attract young entrepreneurs that love the outdoors but also desire to build home and hearth in our downtown area leading to greater tourism revival. Micro-manufacturing of items like snowshoes, golf clubs, polo mallets and others are often sold remotely to national/international locations but the store fronts contribute to tourism attraction. 

Consider Attracting SME Adventure-Venture Capitalism to Delta County (Escanaba & Gladstone) Through Neuroeconomics  as a method of attracting young entrepreneurs that want to build businesses and engage in the local lifestyle for retention purposes. 

We can also attract and rebuild our downtown in a way that leads to improved housing/condo options, retail store fronts, recreation and tourism. Rebuilding Escanaba's/Gladstone's Downtown by Marketing Commercial Real Estate to Entrepreneurs We will need to get "the word out" about our relatively cheap 100K or less store fronts and develop packages that help them get started. 

Developing the tourism micro-manufacturing also helps lead to a stronger export culture and transportation strengths that can be further used to grow the area. Tourist Micro-Manufacturing Can Improve Delta County's Manufacturing and Distribution Sectors

Using Existing Transportation Strengths to Attract Industry:

The report further discussed capitalizing on its infrastructure such as rail, airport, road, public transportation, deep water ports and the internet. It also indicates the need to draw in more diversified resources. Consider innovative industries and shipping infrastructure enhancements of local distribution.

When we start building multiple clusters such as trade/manufacturing training at Bay De Noc College, Distribution Shipping, Tourism, Micro-manufacturing, Resource Extraction, Regional Military, etc... we can form whole new new industries that further brand the mix of economic elements in Delta County as unique.....Multi-Clusters In Delta County Can Create New Innovative Industries

Our nation will grow and bring back high paying jobs if we have greater focus on manufacturing and exportation of products and services. There is no reason why Delta County's strategic location can be used to hedge that growth. Delta County Great Lakes Shipping Infrastructure-Opportunities for National Exports!

Attracting Investment Through Online Investor, Business and Government Virtual Community:

We won't be able to do much unless we can match local investment opportunities with potential investors that have the capital to "break out" successful businesses. An online community that provides the right kind of information investors needs and connecting them to the people who can answer their questions is important. We may also consider rewriting much of our public facing county and city websites to include information investors need. With a little marking elbow grease we can attract big investment money to the area that can help transform the lives of locals in terms of lifestyle, jobs, education, community, and health.   

We should understand what type of information and environment we need. Were doing pretty well but there are opportunities for improvement. Characteristics of Successful Venture Capitalist Investments Environments in Delta County Michigan

Investors often look for information on business owners and soft data as much as they look for financial information and hard data. Availability of Financial and Non-Financial Information Impacts Investor Interest in Delta County Michigan

If we use investment capital well we can take a number of small businesses and launch them on the global market in a way that attracts new jobs and investment in the area. We can also enhance investment in a number of budding clusters that could have post Covid market relevance. Venture Capitalism Under Utilized as a Growth Strategy for Escanaba

Our County and City administrators should think about creating an online forum they can reach out to investors and invite them to participate in lucrative development. Even if the investors don't invest they contribute to the growth and change of the area through their knowledge. Using Virtual Communities To Raise Venture Capitalism Investment in Delta County Michigan

Some Steps to Delta County Revitalization:

Here are a few ideas that might be helpful. I'm applying some of the concepts learned in the theory to Delta County Michigan. It doesn't mean all will apply but if we want to get serious about local economic growth we will need a detailed focus on how precisely to move an under-performing area with high potential to a lead market generator for its specific industry clusters. You can read more about the Theory of Transactional Cluster utilizing Schumpeterian economic principles HERE.

1. Market downtown store fronts and upstairs living spaces to young entrepreneurs with money to invest and a strong business plan related to tourism micro-manufacturing and SME development. 

2. Provide grants for buildings to improve the store fronts to increase aesthetic appeal by new entrepreneurs with start-up business investment capital. Consider putting together an entrepreneur packet with student loan forgiveness, low interest business loans, legal help, zoning contacts etc...

3. Consider a new county position that coordinates entrepreneurs and investors with focus on enhancing exportation of products/services. Enhancing exportable products/services leads to long-term job development and economic resilience. 

4. Develop an online forum for local entrepreneurs, business owners, government stakeholders and investors. Utilize these forums to gain new information/research on investment climate and connect businesses with investment capital. 

5. Rewrite county and city information to attract more investors through proper SEO and content creation. Put together marketing campaign to attract investors and potential mobile entrepreneurs. 

6. Connect with industry, state, federal and regional stakeholders to launch distribution center, enhance other clusters such as military, SME manufacturing, tourism, skills trade education, etc... to speed local innovation. 

7. Utilize budding clusters to develop new innovative industries that can create economic branding of the area. Once new industries have development enhance them to create a unique clusters tied to the area that attracts future long-term globally relevant investments.

You can contact County Administrator for questions and information. https://deltacountymi.org/master-plan/

2019 Delta County Master Plan. Delta County Michigan. Retrieved https://deltacountymi.org/wp-content/uploads/2020/07/Delta-County-2020-Master-Plan-Draft.pdf

Escanaba Polo Mallet Co BluePolo Shirt $45

Escanaba Polo Mallet starting to sell its own line of clothing. You can find more with free shipping on our Clothing Page. You can wear one of our high quality  products the next time you play:) https://www.escanabapolomallet.com/p/clothing-items.html

Escanaba Polo Mallet Co Blue Polo Shirt $45

4.4 oz., 100% Polyester Interlock Mini Grid

Modern classic fit

Moisture-management and anti-microbial properties

Self fabric lined with 1/4" topstitch on collar

Single-needle topstitched three-button clean finished placket with color-matched buttons

Rolled forward topstitched shoulder

Snagging resistant

Side seam with self fabric face side vents

Decorative logo side tab on left side seam

Double needle sleeve and bottom hems

UPF 30+ (white is not applicable)

Woven label

Please send $45 to PayPal with size requirement and name of item. This item has free shipping. If you have questions contact escanabapolomalletcompany@gmail.com 

Persistence and Inquiry Fundamental to New Micro-Manufacturing Businesses

I own Escanaba Polo Mallet Company which is a micro-manufacturing good works company that will be used to understand how micro-manufacturing works within the U.S. and utilize some of the profits to help orphans, child enrichment programs and distressed horses. What I have found is that persistence and inquiry can help new entrepreneurs succeed in their businesses. It is that type of grit that keeps them going and the ability to continuously look for new answers.

Most businesses fail within the first few years. While there are financial and other issues involved typically persistence and inquiry are part of the process of building products successful that can be sold on the international market. 

Let's look at an example. I sell practice mallets for around $70 dollars with free shipping. Most people love these mallets and I have repeat buyers. There are a few who don't like them and I get an occasion return. Personally I believe these returns are based on perception and personality but I must do my part to ensure I'm avoiding misalignment between customer expectation and the offering.

Persistence and Inquiry #1: I Changed the Listing Information:  Customers sometimes think the $70 mallet is the same as a $200 mallet. They are different. One is used just to teach the skills of the game and is a little lighter. The other one is of superior quality with a heavier head and perfectly straight shaft. So I adjusted the listing so that people know the difference between one and the other. That doesn't mean people always read the listing so I include a liberal return policy for the rare occasion there is a mismatch.

Persistence and Inquiry #2: Things don't necessary stop there. I have to develop a professional mallet and be able to sell it for a price lower then my competitors. That will be able to offer a comparison product in each of my listings. Something like, "This is a practice mallet if you are more interested in a professional mallet please check out......" Thus, I went in search of straighter canes and figured out a way to create a heavier head. Now customers can choose between a $150 professional mallet and a $70 practice mallet. 

Customer confusion declines.....

Persistence means we don't give up on our business simply because we run into a few problems. Problems is what business is all about. As a matter of point, the goal is to solve as many problems as possible for your customers to increase their satisfaction. Make things easier, make them better, do more, and raise the value of your business through problem solving. Just be sure that you are focused on the goals of your business. Sometimes solutions have no market value. 

Inquiry helps you find new ways of doing things. I went out and searched sources for new shafts that are straighter and within my price budget. Now I found where I can obtain the resource and have made a purchase to see if the quality will be good. Furthermore, I used inquiry to find a way to weight the head more to give it a little extra kick on the ball. That wouldn't have happened unless I explored ideas and looked up possible solutions. 

As you work on your micro-manufacturing business think about persistence and inquiry to find new solutions. 

You can always read a little article on Justify Budgets