I’ve posted a bit on here before about career options to combine my degree with horses. I was talking with a friend of mine and she suggested I open a tack shop. I’ve worked in a high end boutique all through college and for part of high school, and have experience with buying and running a business and everything, but of course, no experience with an actual tack store. I think it would be a lot of fun and something I would be passionate about, but is it a stupid idea? I would focus on higher end, smaller lines that are unique, and have more gift items. The location of the store would be far enough away from our other local tack shops, plus I would have more “lifestyle” pieces vs essentials. The space I have in mind (next to the place where I currently work) is frequented by wealthy moms and grandmothers, so while it isn’t close to any barns, most of the customers (who have children that ride) live nearby and their children attend school nearby. I would focus more on riding clothes and horse themed gifts–throws, jewelry, etc. so what do you guys think? Does everyone only buy online or do you think their could be a market for this kind of store? TIA!
I think the most successsful tack stores these days are the “boutiques” - here in Ontario that would be shops like Tack Shoppe of Collingwood and Willow Equestrian.
If I were you… I’d work in one first.
Tack stores are pretty cutthroat as far as retail goes - most will go out of business within a few short years of opening because they just can’t compete with the monoliths of the business like Dover and Smartpak.
I’ve worked in a few now - some gone, some still remain… the biggest thing is location, location, location and even then it is not much a guarantee. Your best bet would be offering something that SP and Dover don’t have… which is not much. Sundry items would be important to stock (last minute items for shows, clinics, etc) and you will sell a lot of hoofpicks and brushes – but you don’t make hardly any money off of them… and then the larger purchases (bridles and saddles) are often few and far between and you don’t move enough inventory to break even most days or months.
We just lost a few of our favorite places last year and they were in very affluent areas.
What would be a better idea would be to open an online boutique, I’d think – offer something creative like shirts or coffee mugs. I don’t think that a tack store is a good idea for a first-timer.
Absolutely would not recommend opening a shop that is basically a boutiquey gift shop. Unless you do a mobile shop that can travel to high end horse shows, you will have ridiculous amounts of overhead and not enough customers. The best shops stay in business by having the necessities, and maybe a small percentage of fun, boutique type stuff.
I’ve worked in a tack shop, and have also been friends with business owners. Several of those businesses had a similar business plan to yours, and they either shuttered after a couple of years (even with prime real estate…and not being near the horses isn’t prime) or had to take a big hit to reorganize and make it. BASICS sell.
An online boutique or a mobile boutique may be a better answer for what you want to do.
A tough business that’s getting tougher all the time. This is my sixth year working for a well-established tack shop in a VERY horsey, affluent area. We also have a mobile out on the circuit 7 months of the year, and a website. Our store is heavy on clothing, tack and equipment, light on supplies (no feed, hay or supplements). (There are a few feed and supplies-only stores in the immediate area.)
We have quality stuff and a variety of price points, but it still comes down to the fact that horses are, for most, a hobby. So, while folks might really want to buy a whole new wardrobe of Ariat/Romfh/Pikeur/Kerrits every year, or create their own at-home tack stash for the well-dressed equine, full of all the latest and greatest to come down the pike, the reality is they don’t. Because even inexpensive horse stuff is expensive. And the really nice stuff is really expensive. And it’s a hobby.
Before the economic downturn in 2008, tack stores were raking it in, but there’s been a seismic shift in buying that hasn’t missed this section of retail, and the internet, with big companies offering free shipping and deep discounts, is making it harder and harder for the little guy in the brick and mortar store to hang in.
We’re doing very well, but we - with thousands and thousands already in our customer list - have to really work for it every day. It’s not a business for the uninitiated. If you’re really thinking about it, I agree with the advice to find a job at a store first, so you can get an inside look before putting up the cash for your own place.
Have to agree with everyone else. Definitely not a business I would want to take a risk on. I think any really successful tack stores nowadays have to have a mobile shop as well as a full functioning shopping cart website.
As an FYI, I used to frequent tack stores several times a month. Since the internet and websites became so elaborate over the last 10 years, I can’t even tell you the last time I was in a tack store. I purchase nearly everything online…and I’m guessing many other people do the same thing now too. Definitely a risky type business to pour your money into.
The only ones i think that do well are attached to feed merchants (excluding the big chains). But its a lot of stock to carry and from what i’ve seen potentially slow turnover etc.
Unless you have a lot of money that can sit around and do nothing for you, I too would not recommend a boutique type store catering to the high end client .
Here’s the problem: in order to compete with the Online Tack shops you would have to stock a LARGE inventory and for the most part you would sell between 20 to 60 % of that inventory at the MSP, the rest you would be discounting sometimes to below your cost in order to get rid of it. Trends change now days more then ever… and while you have to carry a size range most people don’t want to buy the same thing their friends have outside of actual Show attire. While we used to have only ONE must have show breeches brand , we now have 20, same for coats, shirts, and boots… All the gifty impulse type items are not going to offset the cost of carrying and sitting on $1,000,000.00 worth of inventory.
The Three areas a brick and mortar store can compete is , Repair and Consignment, the next area that makes you successful is building your clientele from the ground up … and that is catering to the entry level rider who has no clue what they are buying online and need actual help in guiding them.
If you want to be a Trendy High End Boutique and have enough money to back you and sustain you , and really don’t have to make a living at it … go for it , as you said it can be a lot of fun… If you want to be a tack store and you are relying on it to make a living then you need to re-think you business model… every high end clothing line can be bought on line from companies that don’t even have to stock an inventory , it’s drop shipped… you can’t compete with that… and you can’t compete with the discounts they get because of the volume they buy which can be 20% or more.Many online sellers have their own brand which are manufactured specifically for and cuts out the vendor percentage.
You have worked for boutiques and collected a pay check and while you know how much you make , do you know how much you actually cost your employer.
Having your own business has many plus’s, it also has a big downside, you are responsible for it’s success and Failure.
This is really interesting. I have actually been thinking on starting a similar thread, as I have always wanted to start a tack shop myself (was the end goal of my post secondary education). However, I had previously shelved the idea of opening my own store due to a variety of reasons - lack of capital being the biggest - but in the last year have been seriously considering it again. Differing from the OP in that I have years in at one of the only local feed stores that carries anything horsey, where I did the purchasing, and at one point I also landed an interview with Greenhawk (I’m in Canada) for a junior buyer position in Ontario (however a glitch on my phone caused me to miss the message inviting me to interview until it was too late - I cried for a week, still painful to wonder about). I currently work for our small family business, but it’s in a trade field where I am never going to be an expert, and my stepbrother is not going to be in a place to take it over when it’s time. However it’s certainly a fantastic way to learn the inside of a small business, and it keeps me working with vendors and seeing the ins and outs of wholesale to retail, etc. We live in an area where the most successful people are those who create their own opportunities, and I do believe in the saying that you can’t give up on anything you can’t go a day without thinking about. If we all didn’t do the things that were technically a “bad idea” we would have no boarding barns, no good instructors for our kids, no tack shops, etc, etc and that’s just in our industry. One has to be careful of course, but it’s worth looking into. Here’s what I’ve found on my looking thus far.
Cut throat is right. No one wants to discuss business with you. No one. Be prepared to go it completely on your own. An odd discovery, as within the field where I work now, the business owners are always discussing ideas and plans, etc. It’s a healthy industry in an area where a lot of trades are suffering, and the market isn’t saturated, so I’m sure that helps, but I’ve always been surprised at the parallel coldness of the tack shop industry. So put on a thick skin and keep that in mind.
You have to stand out, and you have to look at what people need a bricks and motar store to purchase (as someone mentioned above). Realize how much it costs to have racks and racks of $200 breeches, and think about how fast trends turn over. You could stock a rack of tan TS breeches for 5 years, but this seasons rainbow of colours? You’ll be closing them out in 5 minutes in comparison.
I’m very, very surprised to see no one has mentioned social media yet. A powerful and essential tool that you would need to figure out how to use to your benefit. Some of the most successful shops (and small businesses in general) are very active on social media and it’s no coincidence. It gives you a voice to make people want to come to your door. It allows people to connect to your store and you as an individual.
On that same theme, you have to look at what you are going to do differently to make people think “yes, I want to go to THAT store”. And once you have a customer base, what are you going to do to keep them? How can you be competitive and engaging and fresh? People are going to buy all the things. Why are they going to buy them from you. What is important to your customer?
You do have to look hard at your area. The only reason I am seriously reconsidering my own store (beyond the passion and the making opportunities bit) is because there is an actual need in our area. In our entire province, there is one retailer of higher end equipment, and most people honestly don’t even know she exists as she isn’t very accessible and doesn’t really make her presence known. We have two small Greenhawks (neither in our city), but everyone knows that with Greenhawk you are limited to their house brands or the few pieces of other lines that they have access to. So most of us shop online, but for clothing and other items that need to be seen or tried in person, we are stuck waiting to travel to another province and hoping that we can see what we need there. We have a couple other tack shops in the province, but they cater more to western riders and/or just aren’t accessible or easy to deal with. I mean, we are talking, if I want to try on a Samsheild, I’m driving two hours. Want to see a Horseware blanket in person, or try a Grand Prix hunt coat? Drive four hours. For a while it was okay, because we can always shop online, and we are close to the border, so many took advantage of that. But since the dollar tanked, it’s much more restrictive. It’s been a reminder to shop local, and really, where we are such a small area, I have heard many wishes that the riders could support a local shop. There just straight up isn’t one. So you have to look at how saturated your market is. I’m in an area where we are used to having to drive around a bit to access niche stores (I remember my first time in Toronto as a teenager seeing a tack shop on a main city street - I was flabbergasted). I guess what my rambling is getting at is know your market, know it well, and figure out what that market does and doesn’t want and what they are willing to do for what they do want. Find out what “better” means for your shoppers, and then figure out what to do to be the better option.
Hope this all makes sense. I’ll put on my flamesuit for my own feedback now, haha. Eager to follow this thread regardless.
Interesting comments, speaking as a customer of tack stores who has never worked in retail! I expect that this is all true, and related to the niche market aspect of tack stores.
As a customer, I can say that my horse-related purchases have followed an arc. When I returned to riding lessons as an adult, I bought helmet, then boots and half chaps, and finally a single pair of breeches after a couple of years (made do for a while with stretchy jeans). Minimal purchases. Moved into leasing a horse, with all tack supplied: minimal purchases, field boots and a couple more pairs of breeches.
Took over full care of horse, and then became quite a good customer for a few years, brushes and blankets, saddles and bridles, new helmet, gloves, etc. etc. But my higher-ticket items were all good condition second hand, mostly from private local sellers on CL or FB.
Forward to now: I’m not buying much at all. There aren’t many gaps in my horse equipment, nothing I need to buy, and only a few items I am casually looking for either second hand or deeply discounted.
I buy my tops, hoodies, jackets, etc. in sporting goods stores, since they tend to be better designed, better quality, and better priced (on discount) than the equivalent in equestrian gear.
I buy very few horse-themed trinkets, but then I don’t have a lot of little girls to shop for, and the ones I do know, still need basics which I pass on when I can.
As far as location: I do browse the rather limited tack sections of the feed stores when I am picking up grain. I still have to go into every tack store I see, and look at everything on the shelves! And I love it when tack stores are in the same general area so I can visit more than one (here they are scatted through the exurbs, which means paying a bridge toll, and racking up a lot of miles).
What about combining your interest in a tack shop with becoming a qualified saddle fitter? Saddle fitters seem to be few and far between, there seems to be a relative shortage of them.
[QUOTE=MaritimeH/J;8601779]
This is really interesting. I have actually been thinking on starting a similar thread, as I have always wanted to start a tack shop myself (was the end goal of my post secondary education). However, I had previously shelved the idea of opening my own store due to a variety of reasons - lack of capital being the biggest - but in the last year have been seriously considering it again. Differing from the OP in that I have years in at one of the only local feed stores that carries anything horsey, where I did the purchasing, and at one point I also landed an interview with Greenhawk (I’m in Canada) for a junior buyer position in Ontario (however a glitch on my phone caused me to miss the message inviting me to interview until it was too late - I cried for a week, still painful to wonder about). I currently work for our small family business, but it’s in a trade field where I am never going to be an expert, and my stepbrother is not going to be in a place to take it over when it’s time. However it’s certainly a fantastic way to learn the inside of a small business, and it keeps me working with vendors and seeing the ins and outs of wholesale to retail, etc. We live in an area where the most successful people are those who create their own opportunities, and I do believe in the saying that you can’t give up on anything you can’t go a day without thinking about. If we all didn’t do the things that were technically a “bad idea” we would have no boarding barns, no good instructors for our kids, no tack shops, etc, etc and that’s just in our industry. One has to be careful of course, but it’s worth looking into. Here’s what I’ve found on my looking thus far.
Cut throat is right. No one wants to discuss business with you. No one. Be prepared to go it completely on your own. An odd discovery, as within the field where I work now, the business owners are always discussing ideas and plans, etc. It’s a healthy industry in an area where a lot of trades are suffering, and the market isn’t saturated, so I’m sure that helps, but I’ve always been surprised at the parallel coldness of the tack shop industry. So put on a thick skin and keep that in mind.
You have to stand out, and you have to look at what people need a bricks and motar store to purchase (as someone mentioned above). Realize how much it costs to have racks and racks of $200 breeches, and think about how fast trends turn over. You could stock a rack of tan TS breeches for 5 years, but this seasons rainbow of colours? You’ll be closing them out in 5 minutes in comparison.
I’m very, very surprised to see no one has mentioned social media yet. A powerful and essential tool that you would need to figure out how to use to your benefit. Some of the most successful shops (and small businesses in general) are very active on social media and it’s no coincidence. It gives you a voice to make people want to come to your door. It allows people to connect to your store and you as an individual.
On that same theme, you have to look at what you are going to do differently to make people think “yes, I want to go to THAT store”. And once you have a customer base, what are you going to do to keep them? How can you be competitive and engaging and fresh? People are going to buy all the things. Why are they going to buy them from you. What is important to your customer?
You do have to look hard at your area. The only reason I am seriously reconsidering my own store (beyond the passion and the making opportunities bit) is because there is an actual need in our area. In our entire province, there is one retailer of higher end equipment, and most people honestly don’t even know she exists as she isn’t very accessible and doesn’t really make her presence known. We have two small Greenhawks (neither in our city), but everyone knows that with Greenhawk you are limited to their house brands or the few pieces of other lines that they have access to. So most of us shop online, but for clothing and other items that need to be seen or tried in person, we are stuck waiting to travel to another province and hoping that we can see what we need there. We have a couple other tack shops in the province, but they cater more to western riders and/or just aren’t accessible or easy to deal with. I mean, we are talking, if I want to try on a Samsheild, I’m driving two hours. Want to see a Horseware blanket in person, or try a Grand Prix hunt coat? Drive four hours. For a while it was okay, because we can always shop online, and we are close to the border, so many took advantage of that. But since the dollar tanked, it’s much more restrictive. It’s been a reminder to shop local, and really, where we are such a small area, I have heard many wishes that the riders could support a local shop. There just straight up isn’t one. So you have to look at how saturated your market is. I’m in an area where we are used to having to drive around a bit to access niche stores (I remember my first time in Toronto as a teenager seeing a tack shop on a main city street - I was flabbergasted). I guess what my rambling is getting at is know your market, know it well, and figure out what that market does and doesn’t want and what they are willing to do for what they do want. Find out what “better” means for your shoppers, and then figure out what to do to be the better option.
Hope this all makes sense. I’ll put on my flamesuit for my own feedback now, haha. Eager to follow this thread regardless.[/QUOTE]
this is very good advice. I think the reason why smaller/local tack stores are suffering while Dover and Smartpak thrive is a failure to keep up with the times and the way in which most customers shop. The horse industry is for the most part an elite one, as well as very traditional, and the equestrian retail business is no different. if you regularly read about the fashion industry and how the overall retail industry is suffering, it comes as no surprise that tack stores that are locally-owned and run are suffering as well. you would do well to study those businesses who are currently thriving and taking into consideration how you might adapt some of their practices.
basically, what it comes down to as mentioned above, is knowing your customer and what they want. what is seriously lacking in the horse industry is a basic commitment to customer service. the customer is not always right, and tack stores/vendors do not typically stand by their product. when you think of Smartpak and Dover, i typically equate them with Nordstrom or Zappos. They’ll take just about anything back if you’re dissatisfied, they offer free shipping and regular discounts, and most of all are highly accessible due to to their extensive e-commerce sites. If you want to be successful nowadays, it comes down to much more than just the market and the product. it’s about branding, service, and accessibility. if you can commit yourself to offering excellent service - both in product knowledge as well as a customer-centric running of your business - as well as utilizing the internet and social media to brand yourself and reach other customers outside your direct market, i think you can be successful.
i work as a retail buyer but not in the horse industry, so this is just my two cents.
I thought about it long and hard after I unexpectedly became the owner of a 1700 sq. ft. building on a busy five-lane road, about five miles from a big H/J barn. After crunching numbers, it became apparent that I would not be able to afford the investment in inventory. Then I contacted a large well-known tack shop that I always did business with, and asked them if they had ever considered a franchise. They said good idea but no thanks. I figured that by tapping in to their lines of credit and relationships with manufacturers, I’d be able to start business at a lower cost, and they’d have the benefit of a store in a good location, with minimal competition in the area. I’m not too upset that the idea didn’t work out, and I found an alternate use for the building.
[QUOTE=lys.;8602028]
basically, what it comes down to as mentioned above, is knowing your customer and what they want. what is seriously lacking in the horse industry is a basic commitment to customer service. the customer is not always right, and tack stores/vendors do not typically stand by their product. when you think of Smartpak and Dover, i typically equate them with Nordstrom or Zappos. They’ll take just about anything back if you’re dissatisfied, they offer free shipping and regular discounts, and most of all are highly accessible due to to their extensive e-commerce sites. If you want to be successful nowadays, it comes down to much more than just the market and the product. it’s about branding, service, and accessibility. if you can commit yourself to offering excellent service - both in product knowledge as well as a customer-centric running of your business - as well as utilizing the internet and social media to brand yourself and reach other customers outside your direct market, i think you can be successful. [/QUOTE]
This. I stopped myself before I got to this, but I did mean to touch on it. Number one complaint of why friends don’t shop at our local tack store? Because the return policy is crap. They stock what they stock, and if they bring something in special for you, you better cross your fingers it fits, because all you are getting at best is store credit. They have the monopoly and they know it (their pricing often reflects it as well). Example - a friend bought a blanket for childs pony, too big, couldn’t get one smaller thru the store, and thus was stuck trying to come up with another $200 to get one somewhere else. That’s awfully hard for a customer to swallow. Hard for the store owner as well, but it’s just another issue to plan for and have a solution for. You have to be able to take stuff back - in most cases it’s not like Dobbin is coming along to the store to see how his new fly mask fits. Maybe not as relevant in your case if you are catering more to the rider, but still relevant in that the items you are talking about are ones that people often do want to buy in person because of fit issues. Those issues don’t always occur in the dressing room at the store!
Fwiw, I do think it’s a neat model to combine lifestyle / home decor. I know for myself, I’m more likely to look for a bricks and mortar store for that. What about looking at the increasingly popular rustic furniture, chalk paint, etc trend? I know a horse mom locally who started a store that caters to that, runs workshops and sells refinished pieces and her popularity is blowing up. The style is often referred to as “farmhouse” and I’ve often wondered if there was a seamless way to combine that in somehow. It’s a trend, however I think it’s probably got some traction for quite a while to come, if you are interested in that kind of thing.
[QUOTE=MaritimeH/J;8602090]
This. I stopped myself before I got to this, but I did mean to touch on it. Number one complaint of why friends don’t shop at our local tack store? Because the return policy is crap. They stock what they stock, and if they bring something in special for you, you better cross your fingers it fits, because all you are getting at best is store credit. They have the monopoly and they know it (their pricing often reflects it as well). Example - a friend bought a blanket for childs pony, too big, couldn’t get one smaller thru the store, and thus was stuck trying to come up with another $200 to get one somewhere else. That’s awfully hard for a customer to swallow. Hard for the store owner as well, but it’s just another issue to plan for and have a solution for. You have to be able to take stuff back - in most cases it’s not like Dobbin is coming along to the store to see how his new fly mask fits. Maybe not as relevant in your case if you are catering more to the rider, but still relevant in that the items you are talking about are ones that people often do want to buy in person because of fit issues. Those issues don’t always occur in the dressing room at the store!
Fwiw, I do think it’s a neat model to combine lifestyle / home decor. I know for myself, I’m more likely to look for a bricks and mortar store for that. What about looking at the increasingly popular rustic furniture, chalk paint, etc trend? I know a horse mom locally who started a store that caters to that, runs workshops and sells refinished pieces and her popularity is blowing up. The style is often referred to as “farmhouse” and I’ve often wondered if there was a seamless way to combine that in somehow. It’s a trend, however I think it’s probably got some traction for quite a while to come, if you are interested in that kind of thing.[/QUOTE]
Thanks for all the opinions so far! Definitely some things to consider… I do agree with you that a website and social media is a huge player. I’m the social media manager for the boutique where I work, as well as a few other businesses, and I love doing that. I feel like my design background really helps in laying out aesthetically pleasing pictures of our products, and we regularly sell things over IG. I guess my plan is more opening a store similar to one where I work–we have built up a successful client base and are known as the place to go when one needs gifts (baby, wedding, hostess, etc), though we do also do wedding invitations which does make up a large portion of our profit. Because the space I’m looking at is in the same shopping center, I feel like I know the customer base well. I also know the majority of the trainers in the area, so I would be able to get the word out. I don’t know… my senior thesis project that I’m currently working on is the creation and branding of a tack shop–so I’ve created the logo, shopping bag, ads, grand opening invitations, etc. It just got me thinking… and I’ve had a few people ask why I don’t actually do it.
I realize I sound slightly shallow, but while I love riding, training, and showing horses more than anything, I also love the whole lifestyle. My favorite threads on here are the new trends (; and I’m always drawn to subtly horse themed items (plaids, leather, rosettes, foxes,etc)–i.e. we have a throw at the store where I work that has snaffles on it, I have a horseshoe cuff bracelet from House of Harlow, etc.
“I don’t know… my senior thesis project that I’m currently working on is the creation and branding of a tack shop–so I’ve created the logo, shopping bag, ads, grand opening invitations, etc. It just got me thinking… and I’ve had a few people ask why I don’t actually do it”.
I don’t mean to sound harsh but your playing shop , all the mentioned things above are what you do after you establish a working business . Why do so many fail … Because they follow a business model that starts from the top … with a $100,000.00 line of credit or more… and they have no where to go but down… I’m not kidding … your profits go into the floor plan , You start with a BEAUTIFULLY appointed shop … but you can’t sell the fixtures and the gorgeous shopping bags, well it’s a lot of money to spend on something that gets tossed when you can spend 1/2 or more less on non printed but just as nice shopping bags . Paying interest on merchandise that’s not moving cuts into the profit margin fast. My advice to anyone starting in business (unless you have a backer who doesn’t care if they get paid back ) is to start small , build your business , learn as you go , and don’t be blinded by the bling …
If you really want an eye-opener, here’s how you crunch the numbers. Figure out the expenses (labor, benefits, rent, utilities, inventory carrying cost, advertising, etc.) and then back into the dollars of sales you need to have each month just to break even. Divide that by the number of days in a month, and that’s the daily sales you need just to break even. If the numbers work out, go for it.
Definitely work in one first.
Goes back to long long list of to do
A tack shop owned by a friend went belly up due to…
Tack shops are $$$$ to stock with merchandise, and what you have is never the right size, or color, or someone on the internet has it cheaper. You can end up with your cash flow tied up in inventory that is not selling very quickly.
Then customers want you to special order merch, that some how you get stuck with. More cash flow gone.
To make money with a brick and mortar store, you almost have to travel to shows. That’s hard to do if you want to have a family or compete yourself.
The same folks who come into your shop try stuff out, and then go order off the web, want you to donate year-end awards.
OP… I think you might do better if you work as a sales rep for one of the big manufacturers.
!!!!!! Please Folks-support your local tack stores !!!!!!