What should I ask a boarding stable about its waiting list and boarder turnover?
Ask to see the actual waiting list with dates, and a record of boarders who joined and left over several seasons, with their reasons. Check whether stalls are full, how quickly empty ones fill and whether the list is current or an old wish list.
A waiting list sounds reassuring, but only if it is real. Ask for the list itself, with the date each person joined, what they want and when they last contacted the stable. Call a few names, with the seller’s permission, to see whether they are still interested. A list of people who found another barn last year says little.
Turnover tells you more. Ask for a record of every boarder who arrived or left across several seasons, and why they left. Moves, a change in riding plans and sold horses are normal. Complaints about care, feed, footing or staff are a warning. Compare the record with the board payments in the books, since a stall that is nominally full but paid late is a different matter.
Look at what keeps boarders in place: the barn manager, the trainer, the riding community, the facilities, the turnout. If any of these depends on the seller or one employee, ask whether they are staying. Visit on a busy evening and talk with a few boarders if the seller agrees. Your accountant can compare occupancy with the financial statements, and a lawyer can read any boarding agreements.
Key takeaways
- Call people on the waiting list to see if they are still interested.
- Review who left, when and why, over several seasons.
- Find out which people keep boarders loyal and whether they stay.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to reduce employee turnover
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 03Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
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