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Country Farm and Business Management

Country Farm and Business Management

Country Farm and Business Management

Farm and Business management (FBM), also known as farm and business planning, is the process of coordinating every aspect of your agricultural operation with a view to maximizing your income and profit. This process involves a wide range of skills and knowledge, including planning, management and economic analysis.

The following are key practices for the management of country farms and businesses:

Marketing – the sale of your products or services to consumers; financing – loans to finance your operations; risk management – ensuring your operation is secure from disasters.

Financial – creating a pro-forma enterprise budget and a real one to help forecast earnings and expenses. Calculating ratios. Setting financial goals.

The first step is to write down a plan of how you are going to accomplish your objectives. This will allow you to think about the different functions of your business and identify any weaknesses.

Next, you’ll want to determine if you have zoning regulations or if you are allowed to produce certain products on your land. Check with the township or county to determine if there is any restriction and how it might affect your plan.

You will also need to provide adequate public facilities for your business, such as parking lots, signage, and assistance to customers. These facilities are required to accommodate visitors and customers to your farm/ranch.

Your business will ultimately need to be self sufficient and a reliable source of income. It is important to have enough income off-farm to cover all living expenses as well as save for future business.