Country Farm and Business Management Leave a comment

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 requires a broad range of skills, including management, economic analysis, and marketing.

Key practices in the management of a farm or business 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 pro-forma and real enterprise budgets that help forecast incomes and expenses. Calculating ratios.

First, you should write down a explanation strategy for how you will achieve your goals. This will help you think through the various functions in your business, and identify 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 your township or county if there are any restrictions and how they might affect your plans.

Your business may also require public facilities like parking areas, signs, and customer service. 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 must be self-sustaining in order to generate income. This means having enough off-farm income to cover living expenses and saving for the future of your business.