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. This process involves a wide range of skills and knowledge, including planning, management and economic analysis.

Key practices for country farm and business management include:

Marketing is the sale of products or services to customers; financing is the borrowing of money to finance operations; and risk management is ensuring that you are protected from disasters.

Financial – creating a pro-forma enterprise best site 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 enable you to identify your weaknesses and think through all the functions that are involved in your company.

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 your township or county if there are any restrictions and how they might affect your plans.

You will also require adequate public facilities such as parking, signage and customer service. These will be required to accommodate customers and visitors to your farm/ranch and should be maintained in compliance with zoning, food safety and environmental laws.

In the end, your business needs to be self-sustaining. It also needs to be a source of income. It is important to have enough income off-farm to cover all living expenses as well as save for future business.