Desenvolvimento de modelo de cálculo de custos para centros de treinamento de equinos e aplicação à análise de viabilidade econômica e financeira de um projeto

Abstract

Brazil has the largest herd of equids in Latin America and the third in the world. Some of these animals are found in establishments that provide accommodation and training services for horses. The objectives of this research were to develop a model for calculating costs for equine training centers, and apply it to the study of the economic and financial viability of a project. Firstly, the characteristics of a horse accommodation and training center were established, considering: i) facilities and equipments (dimensions and other constructive characteristics), ii) labor (number of employees and working hours used), iii) handling (feeding, shoeing, sanitary procedures), and iv) operation indicators (number of animals housed, among others). The cost calculation model was then built to determine the cost of operating the establishment. It was prepared in an electronic spreadsheet, with allocation in variable, fixed operating costs and opportunity cost of capital. The prices and quantities of inputs used in the system were collected, and the calculation model was fed with this information, so that the following economic indicators could be calculated: i) gross margin, ii) net margin, iii) profit, iv) balance point, v) total factor productivity, and vi) rate of return. Finally, the cash flow of the enterprise was constructed for 20 years, and the financial indicators were calculated i) net present value, ii) rate of return, iii) internal rate of return and iv) discounted payback. The evaluated project obtained an annual profit of R$ 26,251.83 with gross and net margins above R$ 250.000 and 110.000 respectively, a balance point of nine animals and a rate of return of 15%. The risk indicators showed a good degree of security (531.54% IRR and payback in the first year) and the profitability indicators were positive, with NPV of R$ 887,904.63, IBC of R$ 19.27 and an interest rate of R$ 887,904.63. profitability of 1827%. Thus, it was found that the project is viable. The constructed cost calculation model follows the precepts of Economic Theory and is suitable to base feasibility analyzes of equine training centers. The project studied is viable, although it is recommended that measures be taken to increase the accommodation capacity and consider the possibility of increasing the value of monthly fees.