Besides $$ investment in any type of infrastructure for boarding horses, several items would be mandatory:
- 1. Very good liability insurance policy.
2. Air tight boarding agreement (contract).
3. Someone available daily to check on the operation.
4. Stockpile of hay.
Given this, people that board horses are the "city folk" that don't necessarily like to get their hands dirty and/or who just want a place to keep (safe) their horse until they get around to messing with it. In the Texas area, for example, full care boarding (hay, feed, water, shelter, turnout pasture, stall cleaning, shavings) is generally running between $400 and $800 a month, depending on the "eye candy" of the facility. Even small operators with few facilities are charging $300 a month. Extras the customer pays for include any special feed, farrier, Vet services, vaccinations, de-worming, etc.
A barn with stalls could easily run $50,000 to $75,000 for a setup for 5 to 10 stalls, very possibly more.
Even with a good monthly charge, assuming all space is rented, it could take years to recover capitalization costs, and then there is maintenance, repairs, etc.
Even with a given States "Equine Liability Law Waiver" one still needs comprehensive insurance for such an operation. Heaven help the facility owner who has a renter's horse injured (or died) from whatever cause...
Such an operation is NOT for an absentee owner...essentially all operations I know of have a "Barn Manager" on the premises full time.
With the USA now being "formally" in Recession, and with all the economic disasters occurring, IMO a horse boarding facility would be a money sinkhole...until the horse economy and market gets back to full strength, if it ever was in the first place.
JMO...