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22 October 2008

Shocking Truth About Equestrian Communities

We have yet to find one done correctly...

We keep an internal data base on equestrian communities and have travelled far and wide and toured some of the most pretigious ones in the country.  Here is the shocking news......besides our own Inagural O'Connor Signature at The Oaks, we have not found ONE equestrian community who got it right!

We have found some that were planned well, and even designed well.....but EVERY single one of them have missed the most important piece of the puzzle.  How to create a sustainable financial model!!

The brutal truth that no one seemed to consider is that the equestrian facility will loose money.  It will always loose money.  Many developers have made the choice to own the facility seperately. They were successful in attracting buyers and selling real estate, but now that they have sold all their real estate they are struggling with the monthly deficit they are paying out from their own pocket.  Either they will continue to pay, or they will push the facility onto the folks who ride there, or they will bankrupt the entity and close it down eventually and there goes your equestrian lifestyle!

Horses attract buyers.  This is a fact.  Many of those buyers are what we call passive enthusiasts - they do not actively ride, but enjoy seeing the horses, enjoy the open space, and generally enjoy the idea of the lifestyle.  In order to create a sustainable financial model, EVERYONE needs to help pay for the equestrian component.  Generally is it considered "open space" or "common area" in our CCRs.  You still collect revenues for services provided, but everyone helps pay for the horses to be there.  Otherwise....it won't work!  We are going to visit a community that has over 1,000 residences.  Less than 80 decided to join the equestrian club and they are not assessed monthly dues.  They are loosing a lot of money every month and they will have no choice but to decrease services and cut corners.  Everything will eventually go downhill from there...If each one of the 1,000 residents chipped in $20.00/month everything would be fine and dandy.  We would argue that everyone benefits from the horses being there - so everyone should help pay.....otherwise it won't work.

If you are a developer - heed our words.  If you are a potential buyer - get the facts!!

If you know of any community that has an equestrian facility that is being subsidized by a Home Owner's Assessment and/or a true Membership Club Model with a Membership Initiation and annual or monthly dues - please let me know.

Jennifer K. Donovan, Principal, Equestrian Services, LLC

Categories:   EQSV

Posted by jenniferd at 2:40 PM | Link | 0 comments

14 October 2008

500 attend O'Connor Signature Launch

Grand Opening 2008

The day was perfect. The red carpet was out and 500 people gathered to learn more about this exceptional project. We had many equestrian demonstrations from dressage musical freestyles, to World Championship Reiners, to the famous Gypsy Vanners, to hunter/jumpers to four-in hand driving by the World Silver medalist Chester Weber.

The day went off without a hitch. The EQSV team worked hard on this event (starting back in June) to market, invite, coordinate, create the buzz, and then actually be on hand to serve as Welcome Ambassadors. Michele, Kisti and Lindsey rode horses and welcomed everyone as they came in the community. Gary and Michael were on hand to answer questions about the property, and to keep on eye on the Olympic Medals David and Karen O'Connor brought for display. Alex worked her magic by being ring steward and Ambassador to all the demo riders. Shelley performed her musical freestyle. Mandy, Deb and Deena raced around caring for all the horses. I myself attended to David & Karen O'Connor by making sure they were not mobbed by folks who lined up for autographs.

We were very pleased by everyone's reaction.  Everyone I spoke to said "they have never seen anything like this before." And the demo riders and vendors said "we have never been treated so well before... thank you so much."

Folks lined up with the developer to tour lots for sale. Many more requested information and asked to be placed on our mailing list.

Now full turn key management is in place, the facilities are open for business, and we move into the next phase. Onwards and upwards to launching the second O'Connor Signature.

Come Experience the O'Connor Difference!

Jennifer Donovan, Principal

Posted by jenniferd at 7:22 PM | Link | 0 comments

08 October 2008

The Grand Opening of the First Branded Equestrian Amenity in the World

O'Connor Signature at The Oaks

As I am preparing to travel from Virginia to Lake City, Florida, I am filled with anticipation.  Five years ago I had a revelatory conversation with David Light, Editor of Farm & Ranch Magazine and friend.  David was the one that compared the potential of the equestrian amenity to the golf model.  If people would purchase real estate to live next to a golf course, surely they would purchase real estate to look at beautfiul pastures with grazing horses.  It was a brilliant concept!  We noted that many developers were doing it - but many were doing it incorrectly.  We talked and created the concept and David gave me permission to run with it.  And run with it I did.

The inaugural O'Connor Signature is complete with a big Grand opening celebration on this Saturday, October 11th.  All the facilities are complete and the hospitality style staff is in place and horses are in the barn.  On Saturday we celebrate the beginning that marks a change in the equestrian industry.  We have created a standard never before seen in the equestrian world.  A model that improves conditions for the horses, creates wonderful working conditions for our staff that translates to loyalty and continuity, a sustainable financial model for the developer and ultimately the Home Owner's Association, a brand that has international recognition and speaks to instant authentiity and credibility, assurance to home buyers for continuity of service with Olympic level horse care all in a friendly welcoming hospitality style environment.

Stay tuned.........the next Signature property is currently in development.  One day we'll be like the Jack Nicklaus and the Gary Players of the world!

Jennifer Donovan, Co-Founder, Equestrian Services, LLC

Categories:   EQSV

Posted by jenniferd at 5:21 PM | Link | 0 comments

 

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