Chad Chance has built a solid reputation as a farrier who can address the footcare needs of reiners. Back in August 2013, about 100 farriers gathered at an Anvil Brand clinic in Lexington, Ill., to hear Chance deliver insight he has learned from working with top reining horses. But before he performed a live demonstration on trimming and shoeing those horses, the Pilot Point, Texas, farrier took time to explain the strategy that helped him build the type of practice that allows him to work with that level of horse.

Basic Understanding

“There is a difference between being good at something and being successful at it,” says Chance. “When you get around horseshoers, you hear two questions. ‘How many horses do you shoe in a day? How much do you charge?’

“Too many times it is inflated because some shoers will include their gross income. The trick is how much you keep.”

He points to the same elements detailed in the story “What’s It Cost To Trim/Shoe Horses?” on Page 46. Consider your insurance, supplies, rig, fuel and so on if you want an accurate picture of how much money you actually keep in your pocket.

“That doesn’t even address your living costs, retirement or what happens in case you get injured,” he reminds. “Those are parts of what I’m talking about — creating a successful business. This isn’t just for shoeing reining horses, but all horses.”

The road to financial solvency was bumpy early on for Chance. At age…