Determining a farrier’s earnings involves considering several factors. A self-employed farrier’s take-home pay typically ranges from £15,000 to £30,000, depending on their workload, mileage, and overhead costs. This figure can vary significantly based on individual circumstances.
Let’s break down the potential income and expenses using generalized figures, excluding trims for simplicity.
Assuming a farrier charges £50 for a set of shoes and shoes six horses daily, spending roughly one hour per horse and two hours traveling, the daily turnover would be £300.
Annually, based on an 11-month working year to account for holidays, the gross turnover could reach £66,000. Remember, income stops when work stops.
Expenses significantly impact a farrier’s net income. Key expenses include:
- Liability Insurance: £300-£350
- Shoes: £2-£5 per pair
- Tools: £80-£100 per tool (replaced 1-2 yearly)
- Rasps: £10 per rasp (lasting a few days to a week)
- Nails: Around £100 per case
- Gas: £15 per bottle (at least two per month for heating shoes)
- Truck Repayments: £400 monthly (note: this ends once the truck is paid off)
- Truck Insurance: £600 per year
- Anvil/Forge: £400-£500
- Continuing Professional Development (CPD): £250+ for the minimum ten points annually
- Fuel: £3,000-£5,000 per year (depending on mileage)
- Chiropractor: £30 monthly
- New Tires: £100 per tire
- Professional Insurance, Work Clothing, Protective Gear, Boots: Variable costs that need to be factored in.
Considering these factors, a self-employed farrier’s take-home pay of £15,000 to £30,000 is a reasonable estimate. It is important to remember that this income is also subject to tax. Many farriers likely fall closer to the £30,000+ range, depending on their business acumen and efficiency.
For a more detailed analysis, though based on US dollars, refer to this article: http://www.horseshoes.com/advice/raymillr/tctofsna.htm
