Country Farm and Business Management

Farm and business management (FBM) is the practice of coordinating all aspects of your agricultural operation in order to produce income and make best use of your profit potential. This process requires a wide range skills and knowledge including planning and management, economics analysis and marketing.

Key practices for managing a country farm or business include:

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.

Write down how you plan to achieve your objectives. This will help to identify the weaknesses in your business by thinking through the different functions.

Next, you will need to determine if your land is zoned for production or if it has zoning regulations that limit the type of production you can do. You should check with your township and county to see if there are restrictions that could affect your plans.

Your business will also need adequate public facilities, such as parking areas, signage, and customer assistance. These will need to be available to customers and visitors of your farm/ranch. They must also be maintained according to zoning and food safety laws.

Your business will ultimately need to be self sufficient and a reliable source of income. This means you must have enough off-farm revenue to cover your expenses and save for your future business.

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