Country Farm and Business Management

Farm and business management is the practice of coordinating your agricultural operation so that you can maximize your profit potential and generate income. A broad set of skills and knowledge is used in this process including planning, management, economic analysis and marketing.

Key practices for managing a country farm or business include:

Marketing – selling your products and services to consumers. Finance – borrowing money to fund your business. Risk management: ensuring your business is protected against disasters.

Financial – creating pro-forma and actual enterprise budgets to help forecast income and expenses; calculating ratios; setting financial goals.

Write down how you plan to achieve your objectives. This will help you think through the various functions in your business, and identify weaknesses.

You will then need to determine whether your land is zoned production or if there are zoning restrictions that limit what you can produce. Check with the township or county to determine if there is any restriction and how it might affect your plan.

Your business will also need adequate public facilities, such as parking areas, signage, and customer assistance. These will be necessary to accommodate customers and guests to your farm/ranch. They should also be maintained in compliance of zoning, environmental laws and food safety laws.

Your business must be self-sustaining in order to generate income. This means that you need to have enough income from your business to cover your living expenses, and save for the future.

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