How Are Farriers Funding Their Retirement Years?

Some 56% of full-time farriers are funding their retirement years with Individual Retirement Account plans while 18% have invested in other self-employed plans, such as 401K programs. Another 24% have adopted other types of formal retirement plans while 10% are relying on pension plans for retirement dollars. 

Unfortunately, 24% of full-time farriers have no retirement investment plans.

— 2020 American Farriers Journal Business Practices survey

Part-Time Farriers Charge Less for Adding Extras to Factory-Made Shoes

In most categories, part-time farriers charge less than full-time farriers for adding essential items to keg shoes.

When adding trailers to keg shoes, part-time farriers charge an average of only $2.86 compared with $4.72 for full-time farriers.

With the addition of squared or rockered toes to a shoe, part-time farriers charge an average of only $2.31 compared with $6.23 for full-time farriers.

When drilling and tapping a shoe, part-time farriers charge an average of only $12.13 compared with $31.13 for full-time farriers.

When it comes to welding inserts in shoes, part-time farriers charge an average of only $3.33 compared with an average of $27.27or full-time farriers.

One exception is that part-time farriers charge an average of $6.00 extra compared with $5.53 for full-time farriers when it comes to adding clips.

— 2020 American Farriers Journal Business Practices survey

Friday's Farrier Facts & Figures is brought to you by the International Hoof-Care Summit.

The International Hoof-Care Summit is returning to the Duke Energy Center and Hyatt Regency in Cincinnati, Ohio Jan. 24-27, 2023, for 4 days of focused learning that will change your footcare practice forever. With over 75 hours of classes, roundtables, lectures, networking, camaraderie and the world’s largest hoof-care products trade show, the 20th annual Summit is the best way for you to learn successful techniques and business-building strategies from today’s top footcare experts. Network with hoof-care professionals from around the world and get ideas and advice to meet your specific needs and interests. Learn more and register here.

Register today.