|
|
|
Center for Equine Business Studies
Distance Training Program for Certification in
Equine Entrepreneurship
Summary
Starting in September 2007, the Center for Equine Business Studies will offer training courses, at a distance, in business management,
marketing, and sales from an equine industry perspective with a goal of improving the business expertise of anyone involved in a
business providing equine related products or services.
Distance Training
Distance learning replaces the traditional face-to-face classroom with instruction delivered via the internet. This allows
students to participate in class activities at times convenient to their job and family obligations from any location with internet
access.
Types of businesses that will benefit
- Feed and farm supply stores
- Western wear stores
- Tack shops
- Breeding farms
- Trainers
- Stables
- Event centers, venues, and complexes
- Manufacturers of equine products
- Veterinarians
- Sale management companies
- Other businesses involved in the equine industry
Type of employees that will benefit from this training
- Business owners
- Business managers
- General managers
- Customer service managers
- Sales managers
- Department managers
- Sales representatives
- Retail sales employees
- Other individuals with sales and management responsibilities
- Anyone that comes in contact with customers on a regular basis
Proposed curriculum
The proposed curriculum consists of five courses. The courses can be taken for continuing education credit or, if
the participant is currently enrolled as a student at Texas A&M University, for academic credit. Each course can be taken
individually or as a part of a certification program. Upon successful completion of all five courses, the participant will be
awarded a Certificate in Equine Entrepreneurship from Texas A&M University.
Table 1. Proposed Certification in Equine Entrepreneurship - Curriculum and Prerequisites
| Course | Title | Prerequisite |
| 1 | Managing the Equine Business | None |
| 2 | Sales in the Equine Industry | None |
| 3 | Marketing and the Equine Industry | None |
| 4 | Equine Entrepreneurship I | Courses 1, 2, and 3 |
| 5 | Equine Entrepreneurship II | Course 4 |
Proposed Courses
Course 1 - Managing the Equine Business - an introduction to managing the business providing products
or services to the equine industry
Objective - Introduce the participant to managerial decision-making and analysis in an equine
environment. The participant will develop skills that facilitate application of management principles to realistic business situations.
Specific topics covered in the course include:
- Introduction to the equine industry
- Small businesses in the equine industry
- Role of the manager
- Business organization
- Tools of financial management
- Balance sheet
- Income Statement
- Enterprise budgets
- Cash flow budgeting
- Partial budgets
- Marginal analysis
- Decision-making under uncertainty
- Human resource management
- Financial management software
Course Project - Prepare a complete set of financial statements for an equine related business
Course 2 - Sales in the Equine Industry - principles of professional sales techniques in the equine environment.
Objective - Introduce the participant to professional sales and selling techniques in the equine industry.
The participant will develop sales skills through application of sales principles to realistic selling situations.
Specific topics covered in the course include:
- Sales vs. marketing
- Sales as a profession
- Sales in the equine industry
- Economic principles for sales professionals
- Consumer sales
- In-store merchandising
- Business to business sales
- The selling process
- Value-added selling
- Relationship selling
- Personality styles
- Developing a sales plan
- Developing the sales budget
- Managing the sales plan and budget
Course Projects
- "Shadow" a professional sales person for a day and submit a detailed report describing the experience, the sales person,
and the sales call
- Prepare sales projections and a sales plan for a business selling an equine service or equine related products
- Develop a sales presentation for an equine related product or service
Course 3 - Marketing and the Equine Industry - An introduction to strategic marketing management in
the social, economic, and
technological environments of today's equine industry
Objective - The participant will develop skills in market analysis, marketing strategies, and planning as related to emerging
trends in the equine industry, and recommend competitive marketing strategies by evaluating an organization's internal strengths and
weaknesses, and external opportunities and threats.
Specific topics covered in the course include:
- Marketing to the equine industry
- The four P's of marketing
- Market segmentation and target markets
- Product differentiation and positioning
- Customer relationships
- Market research
- Marketing strategies
- Communication strategies
- Distribution
- Pricing
- Integrating market and sales plans
Course Project - Prepare a marketing plan for an equine related business, product line, or service
Course 4 - Equine Entrepreneurship I - An introduction to strategic planning regarding the economic and financial feasibility
of a business venture with an emphasis on processes for developing a comprehensive enterprise analysis
Objective - Introduction of the participant to the challenges confronting entrepreneurs in the equine industry, and development of a
preliminary business plan utilizing the financial statements, sales plans, and marketing plan developed in courses one, two, and three.
Specific topics covered in the course include:
- Introduction to entrepreneurship in the equine industry
- Insurance
- Cash flow projections
- Financing plan
- Marketing plan
- Sales projections
- Enterprise budgeting
- Allocation of fixed expenses and overhead
- Risk analysis and management
- Opportunity costs
- Management information systems
Course Project - Prepare a preliminary business plan for an equine related business
Course 5 - Equine Entrepreneurship II - Advanced methods of strategic planning for the long-term success
and viability of a business venture
Objective - The participant will enhance their understanding of the challenges confronting entrepreneurs in the equine industry
while developing a comprehensive business plan for an equine business
Specific topics covered in the course include:
- Decision making under uncertainty
- Risk management
- Tax management
- Cash Flow Budgeting
- Income Statement
- Net Worth Statement
- Ratio Analysis and Shock Analysis
- 2 to 10 year projections for the business
- Managing adverse business results
Course Project - Prepare and present a comprehensive business plan for an equine related business
|
|
|
