Country Farm and Business Management

Farm and Business Management (FBM) is a practice that involves coordinating all aspects your agricultural operation to maximize your income and profit potential. In this process, a variety of skills are used, including planning management, economics 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 pro forma and actual enterprise budgets in order to forecast income and expenses, calculating ratios, and setting financial goals.

Write down your plan for achieving your goals. This will help you think through the various functions in your business, and identify weaknesses.

You will also need to check if the land you own is zoned for production, or if there are any zoning regulations which limit the type production you can do. Check with your county or township to see if they have any restrictions.

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.

Ultimately, your business will need to be self-sustaining and a viable source of income. This means having enough off-farm income to cover living expenses and saving for the future of your business.

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