Elwood P. Suggins, a character played by the late comedian Jonathan Winters, claimed to be a “Detroit Dynamo.” He knew what it meant to “crash, burn, roll over, have a flat tire and things of that nature.” I guess I’m a little like Elwood P. Suggins, at least with my experience in the horse business. Anyone who’s spent much time in this industry knows exactly what I mean. We’ve all been down that road, and right now it’s about time to wake Leroy up from the back seat so he can witness the crash that’s fixin’ to happen!
Many equine-based organizations (like most not-for-profit institutions nowadays) are experiencing revenue shortfalls. There is less breeding and registering, slower buying and selling (transfer fees), lower entry counts and new memberships. Less, slower and lower add up to fewer dollars, all the way around. Why has this happened? Most recently we point to the “Great Recession of 2008.” But even before that, numbers were trending down because of factors that are still gnawing at our industry today: aging membership demographics, decline of youth members who evolve into adult members, decrease in youth participation numbers, and lessening of the average family’s discretionary income. All these elements, coupled with a dwindling middle-aged membership base, can be a recipe for disaster.