Julie Schmitt has been riding horses since she was 7 years old and they have become a major part of her life. How awesome is it that she was able to incorporate her love for horses into her new business venture? Almost a year ago, Julie’s journey began when she opened her mobile boutique, the Mod Equestrian in Cleveland, OH.
IN THIS EPISODE YOU WILL FIND OUT ABOUT:
- Julie has been working in the Human Resources field for the past 10 years.
- When she was 26 years old she purchased her very own horse from a rescue program for just $500.
- Julie initially wanted to open a Tack Shop, so she ordered a ton of books from Amazon about how to open up a retail business.
- She quickly realized that opening a brick & mortar store would be a huge undertaking and a large amount of money, so the idea died down.
- A few years later she got a brand new idea at a large show in Kentucky she saw tons of high-end and modern riding apparel. She then decided to open a fashion truck and sell “fashion-forward, modern equestrian apparel.”
- In regards to the apparel that she carries in the truck, she tries to find brands that do a lot of Transitional styles…styles that you can when in the saddle OR out of the saddle.
- She sources her products by following hashtags on Instagram. She finds brands that she likes and emails them directly to inquire about wholesale orders.
- It took Julie a long time to find her truck.
- She stumbled across an Entrepreneurial program in her area called Bad Girl Ventures, which offers education and an opportunity for financing to female majority-owned businesses in the area. She put her truck search on hold to apply for this competition for funding.
- After almost a year, she saw a truck on Craigslist that she just couldn’t pass up.
- She paid $4k for the truck itself and spent almost $3k in mechanical repairs.
- The majority of her events are Horse Shows and the parking is pretty easy b/c it’s all private property.
- During events, some of the barns require that she name them on her business insurance for liability purposes.
- Julie obtained an insurance broker to get her business insurance for the truck.
- She suggests that the following are important thing to look for in an insurance policy for the truck:
- Having enough coverage “per occurrence” to ensure that you are fully covered for your events.
- Make sure that your insurance policy covers theft
- Data-breach protection for accepting payments for merchandise.
- Make sure that you can add someone to your insurance. Sometimes you might have to add the event hosts / owners to the policy.
- She also recommends having your insurance agent walk you through the policy to tell you what each item means.
Noel Asmar (an Equestrian apparel brand)
Bad Girl Ventures (entrepreneurial program for women in Ohio)
Reply All (podcast)
Surprisingly Awesome (podcast)
Miitomo (Nintendo app)
ASK FFT (Leave us a voice-recorded question and we will answer it on the next episode)
FIND MOD EQUESTRIAN:
Website: Mod Equestrian
Facebook: Mod Equestrian
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