AGRICULTURE

Farm Business Plans - Why a Farm Business Plan?

When was the last time you sat down and evaluated your farm on paper? A farm business plan can help you to develop a clear and precise description of all aspects of your operation.

It enables you to see the potential profitability of your operation and explain it to others. It puts information at your fingertips while assisting you to develop a stronger understanding of the industry as a whole. A farm business plan can allow you to assess the potential of new markets and production methods on paper so you can understand the risks without loss to your operation. A farm business plan will assist you to set and achieve goals for your operation.

Why A Farm Business Plan

• Planning guide for marketing, production, finance and human resources.

• Proof of management skills and credibility of operation and manager.

• Guide to the running of the farm operation.

• Communications tool for owner, investors and farm employees.

• Complete cost calculation with hands-on information.

• Aid to estate planning.

• Assessment of strengths, weaknesses, opportunities and threats within the farm operation

Elements of a Business Plan

• Business Overview

• Marketing Plan

• Human Resources Plan

• Production Plan

• Financial Plan

• Goals

• Appendix

 Source: www.farmsuccession.com

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