Written by Dave Lavinsky
Cultivate your agricultural ambitions with our comprehensive collection of farm sector business plan examples. Perfect for farmers, agripreneurs, and agronomists, this resource provides information, from small-scale organic operations to expansive agribusiness ventures. Navigate the complexities of the agricultural industry with these detailed plans, designed to help you grow a thriving, resilient, and profitable farming enterprise.
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Written by Dave Lavinsky
Over the past 20+ years, we have helped over 3,500 farmers create business plans to start and grow their farm businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a farm business plan template step-by-step so you can create your plan today.
Download our Ultimate Farm Business Plan Template here >
A business plan provides a snapshot of your farm business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
If you’re looking to start a farm business or grow your existing farm business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your farm business in order to improve your chances of success. Your farm business plan is a living document that should be updated annually as your company grows and changes. It can be used to create a vegetable farm business plan, or a dairy farm, produce farm, fruit farm, agriculture farm and more.
With regards to funding, the main sources of funding for a farm business are personal savings, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
The second most common form of funding for a farm business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.
Your business plan should include 10 sections as follows:
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of farm business you are operating and the status; for example, are you a startup, do you have a farm business that you would like to grow, or are you operating a chain of farm businesses.
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the farm business industry. Discuss the type of farm business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
In your company analysis, you will detail the type of farm business you are operating.
For example, you might operate one of the following types among others:
In addition to explaining the type of farm business you operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
In your industry analysis, you need to provide an overview of the farm business.
While this may seem unnecessary, it serves multiple purposes.
First, researching the farm business industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards decaffeinated farm business consumption, it would be helpful to ensure your plan calls for plenty of decaffeinated options.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your farm business plan:
The customer analysis section of your farm business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: food manufacturers, grocery wholesalers, retail grocers, restaurants, individual consumers, etc.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of farm business you operate. Clearly food manufacturers would want different pricing and product options, and would respond to different marketing promotions than retail grocers.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
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With Growthink’s Ultimate Farm Business Plan Template you can finish your plan in just 8 hours or less!
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other farm businesses.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes processed foods, imported goods, and growing produce themselves. You need to mention such competition to show you understand the true nature of the market.
With regards to direct competition, you want to detail the other farm businesses with which you compete. Most likely, your direct competitors will be farm businesses located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a farm business plan, your marketing plan should include the following:
Product : in the product section you should reiterate the type of farm business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to wholesale crops, will you also offer subscriptions to individuals?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the products you offer and their prices.
Place : Place refers to the location of your farm. Document your location and mention how the location will impact your success. For example, is your farm centrally located near gourmet restaurants and specialty grocers, etc. Discuss how your location might provide a steady stream of customers. Also, if you operate or plan to operate farm stands, detail the locations where the stands will be placed.
Promotions : the final part of your farm business marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your farm business such as serving customers, delivering produce, harvesting, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or acquire more arable land.
To demonstrate your farm business’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in farming. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in farming and/or successfully running small businesses.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you serve 100 customers per week or 200? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your farm, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 supplier contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for seed, equipment, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a farm business:
Your new farm’s business plan must include a detailed financial plan based on reasonable assumptions of your costs and revenues. To determine if the results you show in this plan will be attractive to investors, look at industry standard financial metrics to see how you measure up against the farming industry, or your sector of the industry, on average. These are some basic measures and ratios to study.
Value of Production
The value of production is equal to your farm’s cash receipts plus the changes in value of product inventory and accounts receivable, less your livestock purchases. This is a measure of the value of the commodities you have produced in the period.
Net Farm Income
The NFI or net farm income, represents the value of production less direct and capital costs in the time period. This is a dollar figure, and not a ratio relating the income to the investment made, so it cannot be used to compare the farm against other farms.
Gross Margin
This represents the NFI less depreciation. The gross margin shows how much money is available in the year to cover the unallocated fixed costs, and dividends to owners and unpaid operators.
Return on Farm Assets
This is a ratio that can be used to compare the farm with others. This is calculated as NFI plus interest expense less unpaid operator labor, all divided by the total assets of the farm.
Asset Turnover Ratio
This ratio is equal to the value or production over the total farm assets. Combined with the operating profit margin ratio, this shows the efficiency of the farm in generating revenues.
Operating Profit Margin Ratio
This ratio is similar to Return on Farm Assets, but divides the same numerator (NFI plus interest expense less unpaid operator labor) by the value of production figure. This shows the percentage of each revenue dollar that becomes profit. If it is low, a higher turnover can compensate, and if it is high, a lower turnover ratio is required.
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.
Putting together a business plan for your farm business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. It can be used for a small farm business plan template or any other type of farm. You will really understand the farm business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful farm business.
You can download our farm business plan PDF here . This is a small farm business plan example you can use in PDF format.
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Farm Business Plan gives an overview of the company, including corporation history, owner backgrounds, creations and more. Use this template to quickly develop your farm company plan.
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Prepared by:
[Sender.FirstName] [Sender.LastName]
[Sender.Title]
[Sender.Phone]
[Sender.Email]
[Sender.Company] is owned and operated by [Sender.FirstName] [Sender.LastName] .
[Sender.Company] produces and sells (product types, e.g., produce, pastured animals, herbs, etc.), and we also provide on-farm services including (service types, e.g., apple picking, events, produce stand, etc.).
The target audience for [Sender.Company] 's product will be local consumers and businesses whom we will target directly. To market to this audience, we plan to take advantage of public picking events, farmers' markets, and a roadside farm stand.
[Sender.Company] plans to turn our XX acres of farmland into a sustainable source of crops, pastured animals, and pollinators. We plan to use regenerative farming practices as much as possible and understand what management techniques work best for our acreage.
Additionally, we will have a large greenhouse and use season extension techniques to get more value out of our farmland.
To build a locally well-known brand and eventually expand our presence across the state.
To sell enough of our product to generate a positive cash flow, support the farm owners and staff, and pay back capital plus 15% interest to our investors.
To preserve and enhance our farmland so that it remains sustainable and we can continue to share the fruits of the land with others.
Follow a thorough 3-year business plan and reassess every year to ensure we remain on track.
Seek funding from our network of contacts and outside funders for start-up costs.
Execute a creative marketing plan that introduces our brand to our target market.
Business address and contact.
[Sender.StreetAddress] , [Sender.City] , [Sender.State] [Sender.PostalCode]
[Sender.FirstName] [Sender.LastName] : [Sender.Phone] , [Sender.Email]
(Owner.FirstName) (Owner.LastName)
Qualifications/Experience
(number) years of experience as a farm hand at (farm name), plus an additional 5 years of experience as the farm manager
(Education)
(Operator.FirstName) (Operator.LastName)
(Experience)
[Sender.Company] is a sole proprietorship.
Our property is zoned for farm use, and we plan to use the land as follows:
X acres for pastured animals
X acres for produce
X acres for agritourism activities and events
Greenhouse and propagation supplies
Farm stand (planned for 20XX)
The demand for locally raised animals and grown produce is climbing at a rate of XX% per year and is expected to reach a total value of $XX billion by 20XX.
Consumer demand for free-range, pasture-raised animals is evidenced by farms like (name competitors) which have grown into valuations of (approximate company values) , respectively.
[Sender.Company] is a licensed business in the State of [Sender.State] as of the year 20XX. We are in the process of applying for all of the necessary permits for constructing the farm stand, expanding the barn, and hosting on-site visitors to the farm.
Product/service.
Services Include:
Pasture-raised animals
Produce cultivation
Public apple picking
Public hay maze
Special event packages
Customer communications.
[Sender.Company] will communicate with its customers by:
Interacting with customers in-person via farmers markets, the farm stand, and through the leveraging of networking events.
Building an active social media presence on Instagram and TikTok.
Advertising agritourism activities like apple picking, hay mazes, farm trails, and other events.
Creating SEO-friendly blog posts on the company website to increase online presence.
Establishing listings with the local tourism board and activity guides.
[Sender.Company] 's product will be sold primarily in the (region) . The farm is located on a road with extensive car traffic, so we plan to build a farm stand on the property to capture attention and drive sales.
We also plan to build a social media presence and leverage local advertising to drive awareness of our brand. We will also attend farmers' markets within the region to meet customers face-to-face and build relationships.
Year One: 20XX
Create a legal business entity
Apply for necessary licenses and permits.
Finalize farm layout.
Procure additional equipment.
Establish social media profiles.
Build a small farm stand.
Attend farmer's markets.
Year Two: 20XX
(List goals for year two)
Year Three: 20XX
Year Four: 20XX
Year Five: 20XX
[Recipient.FirstName] [Recipient.LastName]
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How to create a farm business plan.
Executive summary, goals and objectives, introduction, mission statement and values of your farming business plan, industry history, company background and history, competitor analysis, target market, products and services, organization, human resources, and management plans, swot analysis, growth strategy, financial plan, marketing strategy, establishing a farming business entity, detailed description of farm operations, risk management strategies, sustainability and environmental impact, community involvement and social responsibility, supply chain and vendor relationships, technology and innovation, training and development plans, expansion and diversification, exit strategy, frequently asked questions.
How do i write a small farm business plan, how do you start a farm business plan, how much do farm owners make a year, how much does it cost to start a small farm, what is the most profitable farming business.
Farm Business Planning is key to beginning farmer success.
It helps beginning farmers :
On this page, we compiled free farm business planning resources to help you understand what a formal business plan is, and how to start planning your farm business. Sections include:
Enterprise budget resources are included on the farm business planning page because such tools are usually essential in helping you to develop your business plan.
Planning your farm business involves more than is outlined on this page alone. You’ll probably also be interested in funding (loans/grants) , farm incorporation , and risk management . Our starting a farm page is worth visiting first. Also, you might find the following article helpful, because it touches on many farm business planning topics: Farm Products, What to Charge: Marketing, Price, Calculating Costs, Strategy and Much More .
1. Developing a Farm Business Plan
A business plan is a decision making tool that takes the form of a formal document. It states your business goals, why you think you can achieve them, and lays out your plan for doing so. Farm business planning is also a process, not an end product. A business plan is a work in progress, which farm business owners or operators will want to revisit regularly.
Planning and Funding Your Farm Business from the Cornell University Small Farms Project has lots of important and useful farm business planning resources.
Rural Businesses is a web and print publication from the Minnesota institute for Sustainable Agriculture (MISA).
Building a Business Plan for Your Farm: Important First Steps is a 20 page farm business planning publication that discusses the initial steps to help you move toward writing a formal business plan.
The Center for Agroecology has a Small Farm Business Planning publication that goes over many of the basics in a step by step format.
Building a Sustainable Business: A Guide to Developing a Business Plan for Farms and Rural Businesses is a farm business planning publication available from SARE.
Do I need a Business Plan for my Farm? is a web resource from the New England Small Farm Institute. It’s a great place to get started.
AgPlan from the University of Minnesota helps rural business owners develop a business plan for free, while also offering sample business plans for ideas, and a way to print or download your plan.
Developing a Farm Business Plan includes several helpful resources from the USDA National Agricultural Library’s Rural Information Center.
Organic Farm Business Planning Page from North Carolina State University features a number of publications and links related to financial planing for organic farmers.
Agricultural Business Planning Templates and Resources is an ATTRA publication most relevant to smaller-scale or alternative agricultural entrepreneurs.
Beginning Farmer and Rancher Resources offers comprehensive resources on Bookkeeping and Other Basics ; Cash Flow Budgeting and Managing Debt ; Small Farm and Ranch Income Taxes , and more.
Purdue University’s Center for Food and Agricultural Business has educational resources to explore, such as the New Ventures in Food and Agriculture in Indiana , which offers business planning assistance.
Purdue University Cooperative Extension offers strategic farm business planning tools for commercial farm producers.
Penn State University College of Agricultural Sciences has many Business Planning tools and information. Penn State Cooperative Extension has a Developing a Business Plan page. Penn State also has a Farm Business Plan Template that allows you to plug in your information and create a basic business plan.
The U.S. Small Business Administration works with local partners to counsel, mentor and train small businesses. It is worth getting to know their programs and connect with your local office.
The Martindale Center Reference Desk has an extensive compilation of links to calculators, applets, spreadsheets, courses, manuals, handbooks, simulations, animations, videos and more. Martindale’s Agriculture Center can be of great use to farmers making business plans.
2. Enterprise Budgets
Enterprise budgets project costs and returns for a particular farm production practice. You can use enterprise budgets to make smart business management decisions, and to help you develop a viable business plan.
Enterprise Budgeting Tools of all sorts from the Agricultural Marketing Resource Center, including organic crop budgeting tools, many vegetable budgeting tools, the crop conversion tool for side-by-side crop comparisons, specialty crop and livestock budgets, hydroponics budgets, wind calculators, composting calculators, manure calculators, distillers grain budgets, biomass calculators and specialty foods calculators.
Introduction to Farm Planning Budgets for New and Beginning Farmers (Virginia Tech)
Importance and Use of Enterprise Budgets in Agriculture (University of Nevada)
Enterprise Budgeting (Kerr Center)
Organic Specific Enterprise Budgets
More Enterprise Budget Pages and Information
Writing a farm business plan can be a tool for you to plan your farming business. It can also be a requirement of securing grants and loans for your farm business. The process of writing a farm business plan may seem overwhelming and intimidating at first, but if you break it down into its component steps, it becomes much more manageable.
A business plan is a roadmap for your small farm . It is both process and product. During the writing of a farm business plan, you'll develop an overall vision and mission for your business. You will think about your short- and long-term goals. You'll define the steps needed to achieve those goals. You'll set the direction for your business to develop over the next five years.
If you're already an established business, your new business plan will show where you're going next. A good business plan should be:
Your farm’s mission statement is your overarching purpose for your business:
This is beyond “make money.” This mission statement is based on your values and your core identity as a small farm.
The goals in your business plan are the specific, measurable “things” you will achieve with your small farm. Short-term goals are defined as those that you will complete within one year. Long-term goals are those that take longer than one year to complete.
SMART Goals are:
In this section of your business plan, take inventory of what you have right now:
This is where your business plan gets to looking forward. You are going to formulate your farm strategy from now into the next five years or so.
In the next part of your farm business plan, you develop and outline a marketing strategy for your products and services. This can build on the research you did in the previous step. For each product, include the price, placement, and promotion ideas. Consider how you will convey real and perceived value to your customers.
This part of your business plan details your farm business’ structure. Everyone who is involved in the management of the business should be listed here. External resources are listed here as well.
In this section, you will need to detail the financial aspect of your farming operation. List your current finances in detail, including all income and operating expenses. Referring to your new strategy, you will forecast what is needed for future growth and to meet the goals you have outlined in terms of capital. Include what your future operating expenses will be.
Writing a farm business plan is a big project. Don’t let that put you off. Your plan can be as simple as it needs to be for right now. Begin with your mission statement and goals. Do your homework by analyzing markets and researching competitors and trends. Have fun brainstorming alternative strategies and let them marinate a while. Take it one step at a time.
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Agriculture is the one industry that consistently does well, irrespective matter the economic conditions of the world. So, for a stable income and career farming business is a great option.
Are you looking to start writing a business plan for your farming business? Creating a business plan is essential to starting, growing, and securing funding for your business. We have prepared a farming business plan template for you to help in start writing yours.
Free Business Plan Template
Download our Free Farming Business Plan Template now and pave the way to success. Let’s turn your vision into an actionable strategy!
Writing a farming business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:
An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:
Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.
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Depending on what details of your business are important, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:
This section should provide an in-depth understanding of your farming business. Also, the business overview section should be engaging and precise.
Market analysis provides a clear understanding of the market in which your farming business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:
Some additional tips for writing the market analysis section of your business plan:
The product and services section of an agriculture business plan should describe the specific services and products that will be offered to customers. To write this section should include the following:
Overall, the product and services section of a business plan should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.
When writing the operations plan section, it’s important to consider the various aspects of your business operations. Here are the components to include in an operations plan:
By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your farming business.
The management team section provides an overview of the individuals responsible for running the farming business. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.
Describe your company’s key personnel and highlight why your business has the fittest team.
When writing the financial plan section of a business plan, it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.
Remember to be realistic with your financial projections, and to provide supporting evidence for all of your estimates.
When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.
Remember, the appendix section of your farming business should only include relevant and important information that supports the main content of your plan.
The Quickest Way to turn a Business Idea into a Business Plan
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This farming business plan sample will provide an idea for writing a successful farming business plan, including all the essential components of your business.
After this, if you are still confused about how to write an investment-ready agriculture business plan to impress your audience, then download our farming business plan pdf .
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Why do you need a farming business plan.
A business plan is an essential tool for anyone looking to start or run a successful farming business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your farming business.
Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your farming business.
There are several ways to get funding for your agriculture business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are!
Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.
There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your farming business plan and outline your vision as you have in your mind.
A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any farming business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.
About the Author
Vinay Kevadiya
Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more
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Most entrepreneurs are terrified of planning. But this can be a different scenario for you. A farming business can be more successful if you will develop a farm business plan . Not only will you set the steps that you need to follow to achieve your goals, but you can also become more prepared with the risks. More so, your strategic plans will help you develop a mission statement that will guide you through. So, are you ready for this? Below,we provide you a farm business plan examples that you can look into as a guide.
1. farm business plan template.
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A farm business plan is an excellent organizational and business material that you can use for a variety of purposes. All you must do is to be familiar with business plan guidelines and the basics of farm business management so you can already identify the specific business plan document that you need.
Have you ever been to a hotel where you can see each process’s organization from the welcoming of guests up to their check-out procedures? One of the planning documents that provide a contribution to that organization is a hotel operational business plan . This can be compared to the usage of a farm business plan if you want to ensure that the operations of your farm business are laid out properly. According to a gathered analysis published by Noble Research Institute, the advantages of a farm business plan includes an easy application to loans. It can also promote solidarity within the farm business’s stakeholders. This is relatively substantial, especially for every small business in the agricultural industry.
Creating your farm business plan can be easier if you will refer to helpful agriculture business plan examples. But aside from the items mentioned above, there are still some items that can make it more efficient for you to develop an outstanding, complete, and organized farm business plan . Some of these tips and guidelines are all listed below.
To begin with, always start by visualizing your ideas. After that, you can now proceed with outlining your goals and objectives. Remember to make it as realistic as possible. Come up with measurable and obtainable plans. This should include proposals , marketing , and budget . Truly, there is no easy business. So, plan long-term, and everything else will follow.
Next, you have to learn how to write an executive summary for your business plan. Especially for farm business startups, an executive summary is one of the parts of the farm business plan that will be first seen by your target audience. Make it as appealing and as presentable as possible so you can already get positive responses and impressions. But remember, don’t make it too long and invite confusion from readers. Make it precise as much as possible.
What could be the necessary steps to do in achieving your goals? Here, you have to outline your action plans . It should be relevant to your objectives. Therefore, they must align. You can also set a schedule to follow. This helps you cope with your daily tasks while keeping it on time. Another thing to remember is to make it attainable for everyone in the organization.
make sure that your farm business plan can present your business values. It should be a reflection of your identity, brand, mission statement , and image as a business. These characteristics can set you apart from your competition. It can promote memory retention, which is an excellent way for you to remain relevant and memorable in the marketplace where the farm business belongs.
Don’t propose it right away. But make sure that you check your content from the cover page down to the last pages. Is your budget for the business plan considerable? Can your members achieve success in no time? It is essential to check it first before using it for actual scenarios. This helps you come up with an excellent report later on.
How much is a typical business plan.
The price of a business plan depends on the agency that creates it. But in most cases, it reaches up to $15,000 for a complete plan.
A business plan is a necessity if you take a look at the bigger picture when it comes to finances and projects. This helps you accomplish more than what you imagine for your business.
Among the various elements of a business plan, the executive summary and market analysis are standard.
Again, feeling overwhelmed with everything that you need to consider when developing a farm business plan is normal. However, you should make sure that you will not be carried away so you can focus on the items that can help you give the farm business a boost in productivity, efficiency, sales, visibility, and leads. Be mindful of how you will develop farm planning strategies. Also, see how an effective one can improve your farm business’s overall operations . So, get ready with your document and follow the list of steps above.
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Strategic thinking is the intuitive, visual, and creative process you use to make decisions about your farm business. Strategic thinking is all about thinking ahead, predicting what your competition is going to do, and then taking risks to succeed. You’re thinking big, you’re thinking deep, and you’re thinking across time. You want to envision all potential problems, solutions, and outcomes to a given problem, challenge, or opportunity.
You might not initially think of it this way, but strategic thinking is a visual and a creative process. This process is about exploring your intuitions, gut feelings, and experiences. It’s thinking outside the box, using your critical thinking to solve complex problems, diving into emerging issues, themes, and patterns you’re noticing while also exploring opportunities.
It’s considering all possible scenarios, not excluding any at first, and then anticipating possible outcomes for any action or inaction you might take. It will help you figure out the best path forward to give you a competitive advantage and add value to your farm.
How do you incorporate this idea of thinking strategically into your business plan and operations? You make it actionable by envisioning the future and setting goals with steps to achieve them.
A common tool you may have heard used during this process is a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis, which helps you find strategies for your business.
It’s because they allow for proactive management, they help us maintain more control over what happens to a farm, and they determine early on if a business idea, enterprise, or opportunity is feasible and the right fit.
Strategic planning can be looked at as a continual, cyclical process we set intentionally then use in our business daily.
We’ll start at the top in the strategic or long-term phase. In this phase, we begin to set our strategy by asking (and answering): “Where are we now and where do we want to go?” In the tactical or medium-term phase, we ask: “How are we going to get there and what are we going to do?”
Finally, in the operational or short-term phase, we do what we’ve planned for and evaluate how the plan is working.
Robert Filek is quoted as saying, “Strategy without process is little more than a wish list.” I want us to keep this in mind. Because there are two pieces to the SWOT analysis, or to even thinking about strategies in general. There’s the process piece, or how we come to our actions, and then there’s the writing down and creating the actionable list piece. We want to make sure we have a good balance between the result and the process.
We want to make sure we’re not stifling the process by rushing to create a list, and we want to make sure we’re not forgetting about what we’re learning and gaining through the process by not being able to create the actionable list we’re moving forward with. Don’t let one stifle the other.
A SWOT analysis is the identification of strengths, weaknesses, opportunities, and threats to your business. It’s the development of strategies and goals from this analysis. And then, the most important part, it’s the creation of realistic actions to reach those goals.
This is a great exercise to complete at least once per year to help keep you focused on achieving your mission and vision. Some farms feel it best to revisit or complete the exercise each quarter if there are challenges or growth opportunities looming. It is up to each farm to find the process that works best to keep them focused on the bigger picture and end goal. You can also choose to complete this exercise for the farm as a whole or for an individual issue or enterprise, depending on your needs. A SWOT analysis is a useful tool when thinking through your succession plan and figuring out the course for the farm and family’s future.
Before you sit down to create the SWOT analysis, it is worth thinking through who should be involved. The easy answer is it depends on the issue you’re addressing. The more complicated answer involves two parts: the leadership team creating the analysis and the stakeholders providing the feedback.
The leadership team that creates the analysis may consist of owners, partners, C-suite executives, managers, and other decision-makers on the farm. This can include the owner generation, the successor generation, and those that make strategic decisions about the farm’s finances, labor/employees, crop and livestock production, product development, estate plans, risk management, and environmental or sustainability efforts.
Key stakeholders you consult throughout the information-gathering stages include key people and organizations you do business with such as consultants, lenders, financial advisors, risk management agencies, cooperatives, service providers, markets, neighbors, community organizations, and employees.
The accompanying image is an example of a SWOT matrix and strategy analysis worksheet. At the top, you will see an area to list strengths and weaknesses in an internal analysis. On the left, there is an area for an external analysis of opportunities and threats. The middle is where you use the analysis to create strategies based on your findings. Let’s walk through it step by step.
This is an internal analysis where you and the farm’s leadership team identify the business’s strengths and weaknesses. This is a self-assessment where you are looking at the business’s performance, your assets, and management decisions. Ask yourself:
Be brutally honest with yourself! The analysis only works if you’re providing accurate information.
To dive a little deeper here, reach out to people within and outside the farm. Gather feedback on others’ perceptions. This feedback can be tough to hear, but it’s important to know how people see your business even if that isn’t the reality that you experience. You will also want to compile industry benchmarks and rank these in terms of their level of importance to your operation’s competitive advantage. You will also want to look at the financial analysis measures from the last 5 years, figure out how business decisions are made, and how the farm has been managed. Examine what went well or poorly and why.
The next step of the SWOT analysis is to dive into the external factors affecting the farm business. Here you identify external opportunities and threats. Take the time here to gather information on the external environment. You can do this by taking a look at the general condition of the economy and asking:
Other things to consider include current or future government rules and regulations and trends or changes in the ag industry. Try to define who you are competing against and then take a look at what they are doing. Make sure to take a global, national, statewide, and local lens.
Again, take some time to dive into these topics. You can do this by looking at what various media sources are interested in, using the internet or the library to investigate market trends, or talking to various professionals, peers, or neighbors. Ask business partners, employees, customers, consultants, those you do business with, family, and friends for their thoughts and feelings. Remember, right now you are gathering information. You don’t want to exclude options at this point. Including a broad array of perspectives can be helpful when trying to identify the best way forward.
After all the information has been pulled together and recorded, the next step is to recognize and create available strategies to move you toward your end goal.
Creating strategies is your opportunity to find ways you can take advantage of your strengths and minimize or eliminate the impact of the farm’s weaknesses. You are looking to maximize the business’s potential and mitigate risks. You do this by developing cross strategies that pair your strengths and weaknesses with external opportunities and threats.
Strategies that show up more than once might be areas to focus on and prioritize higher. Think back to when we talked about strategic thinking. You want to be considering all possible scenarios, not excluding any at first, and then anticipating possible outcomes from any action or inaction you might take. This will help you figure out the best path forward to give you a competitive advantage and add value to your farm. Not narrowing down options too soon can also help give you a starting point if your first strategy isn’t working out and needs to be adjusted, or if you’re looking for an alternative later.
Is this process of developing strategies hard for you to visualize? The following are examples from each box in the matrix to help guide you.
Strength–Opportunity Strategy: One of your strengths is connecting with people and keeping good relationships, while one of the opportunities is to provide a specialized or popular product like locally raised beef direct to consumers interested in knowing their farmers. You could expand into direct marketing a product, such as through a website, farmers market, or storefront. Or you could join a coop or group of other farmers looking to do the same.
Weakness–Opportunity Strategy: Your farm has communication challenges, and no one seems to be on the same page, yet there is an opportunity to expand the farm. One strategy might be to implement mandatory team meetings with set agendas and action steps to increase efficiencies, address problems sooner, and reduce communication barriers. It might also help to create an organizational chart to show who handles what and what the “chain of command” is. This would allow you to commit to expansion while making you more confident in being able to achieve growth.
Strength–Threat Strategy: Your farm has low turnover and employees generally enjoy working for you. However, this is an incredibly tight labor environment and people have many available opportunities. A strategy might be to review current HR practices, check in with employees to see how things are going and troubleshoot issues, and implement any changes or improvements such as bonuses, flexible scheduling, better training, vacation, or a reward system.
And finally, a Weakness–Threat Strategy: If your weakness is that you produce and sell one commodity, a threat is fluctuating or low commodity prices. One strategy might be to diversify income streams. Maybe there’s an opportunity for a value-added product, an agritourism opportunity, a new enterprise, or an investment opportunity.
To turn the strategies from the SWOT analysis into goals and action steps, you will want to—
You may also want to include how much each step/goal will cost (in terms of time, resources, and money) and what your measurement of success will be.
Goals supply the strategic framework for results and keep the focus on what matters most. They prioritize which decisions and actions are critical for quickly moving forward in the right direction, and they define what success looks like.
Goals are most powerful when they are owned by the people responsible for achieving them. Involving the team or employee in the goal development process and working together to name the specific measures needed to confirm progress improves commitment to and achievement of the goal.
Begin by developing an aspirational statement that is meant to achieve action toward the farm’s vision and strategy. You are answering the question, “What do I hope to achieve that contributes to the farm’s growth and success?”
Next, use the SMART goal framework to help increase the likelihood of success. SMART goals are specific, measurable, achievable, relevant, and time-bound.
Check your goal to see if you can make it more specific, if you can measure progress toward it, if it is realistic and achievable, if it is relevant to your vision and strategy, and if there is a timeframe for it. This helps you develop goals that are focused and more likely to be completed. Estimating the cost of each goal (money, time, effort) also increases the likelihood of success.
A comprehensive SWOT analysis helps a farm acknowledge and be responsive to opportunities and threats in the current business environment. The business strategies derived from the SWOT analysis should be realistic actions that help the farm reach its goals. Spending time developing goals and strategies helps a farm adapt nimbly in a changing environment and make proactive business decisions.
Incorporate strategic thinking on the farm by taking time to remind yourself of your big-picture or long-term vision for yourself and your farm business, analyze your current situation, identify areas of opportunity, set strategic goals to align with your vision, develop an attainable plan of action, and identify who is responsible for each part of the plan.
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The project will feature 264 student bedrooms, 30 affordable homes, 11,000ft² of ground-floor commercial space, and more.
Camden Council has unanimously approved Regal’s redevelopment plans for 100 Chalk Farm Road in London, England, UK.
100 Chalk Farm Road is a site of approximately 0.75 acres, located next to the Grade II-listed live performance venue, Roundhouse.
Regal rexnord corp.
The project, an addition to Regal’s purpose-built student accommodation (PBSA) portfolio, will feature 264 student bedrooms and 30 affordable homes.
The development will also include roughly 11,000ft² of ground-floor commercial space and enhancements to the public realm.
The proposed design, a collaboration with DSDHA, includes four buildings reaching up to 12 storeys.
The PBSA building’s design features three drum-shaped elements.
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DSDHA director Deborah Saunt said: “Our approved design for 100 Chalk Farm ensures that the neighbouring Roundhouse and the industrial heritage of the Regent’s Canal Conservation Area will be both celebrated and respected.
“We’re pleased to be providing an enhanced public realm, benefiting the wider community, as part of our proposal.”
A shared garden with play space will be available at podium level for both residents and students.
Public realm improvements will include a new public space adjacent to Roundhouse and will enhance the pavement outside the site, including new retail and commercial premises.
Aligned with Regal’s sustainability strategy, the project aims for Building Research Establishment Environmental Assessment Method (BREEAM) Outstanding certification and seeks to be among the first UK PBSA projects to achieve WELL Platinum accreditation.
Regal planning director Steve Harrington said: “We have worked hard to strike the right chord on this special site next to such an iconic performance venue and are very proud to be able to bring forward proposals that reflect the spirited history of Camden town.
“As a Camden-based developer, we are particularly excited that our newest PBSA project is in our home borough, and we look forward to bringing our proposals to life.”
Earlier in June this year, Regal submitted plans for Orchard Wharf in the London Borough of Tower Hamlets, with approval anticipated by early 2025.
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The Farm Business Plan Balance Sheet can help gather information for the financial and operational aspects of your plan. Form FSA-2037 is a template that gathers information on your assets and liabilities like farm equipment, vehicles and existing loans. FSA-2037 - Farm Business Plan - Balance Sheet. FSA-2037 Instructions.
Financial Summary. Down in the Dirt Farm grossed $66,370 in sales from the 2018 season ($28,675 through their CSA offering whole and half shares, $25,800 through farmers market sales, $8,645 through wholesale, and $3,250 from on-farm pork share sales). The agreed-upon sale price for the new farm is $315,000.
You'll probably want to include each of these sections: 1. Executive summary. An overview of your agriculture business, with a brief description of your products or services, your legal structure, and a snapshot of your future plans. While it's the first part of the plan, it's often easier to write your executive summary last. Brought to ...
The plan contains the operational and financial objectives of a business, the detailed plans and budgets showing how the objectives are to be realized. A good business plan will contain the following: Your business vision, mission statement, key values, and goals. Description of the product (s) you intend to produce.
Sample Business Plan For Farms & Agricultural Businesses. Executive Summary - The Executive Summary is the most important part of your business plan. It is a brief description of your farm, its products and services, potential market opportunity, and competitive advantage. Company Overview - Also called the Company Analysis, here, you will ...
Cultivate your agricultural ambitions with our comprehensive collection of farm sector business plan examples. Perfect for farmers, agripreneurs, and agronomists, this resource provides information, from small-scale organic operations to expansive agribusiness ventures. Navigate the complexities of the agricultural industry with these detailed ...
For aspiring farm business owners, having access to a sample farm business plan can be especially helpful in providing direction and gaining insight into how to draft their own farm business plan. Download our Ultimate Farm Business Plan Template. Having a thorough business plan in place is critical for any successful farm venture.
A good business plan will help your farm or food production business grow. It can improve your chances of receiving government grants or loans, help you manage your business through hard times, and identify additional forms of revenue like tourism or consulting. Most lenders or investors require a business plan before they even consider funding ...
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the farm business industry. Discuss the type of farm business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan.
An effective farm business plan should start with an executive summary of what your business plan will include. The rest of the business plan should speak to the goals and objectives, company history, the background of the owners and operators, products and services to be offered, target market, industry analysis, and projections for the first few years of operation.
These might be local consumers, restaurants, farmers' markets, or even online customers. Key Strategies: Highlight the strategies you plan to implement to run and grow your business. This could cover marketing techniques, sustainability practices, or partnerships. Mission and Vision: Briefly outline the mission and vision of your farm business.
Creating a Roadmap: Once farmers hit the ground, a solid business plan becomes invaluable. Whether the farm is run by an individual, a family, or a partnership, front loading planning and research will make for a smoother transition into running the business. Remember that business plans are working documents. Nothing written is set in stone.
Farm Business Planning. Farm Business Planning is key to beginning farmer success. It helps beginning farmers: Plan for the economic sustainability of a new farm enterprise. Obtain funding to purchase land, equipment and other resources from lending institutions, investors and/or grant making agencies. Articulate what their farm will look like.
A business plan is a roadmap for your small farm. It is both process and product. During the writing of a farm business plan, you'll develop an overall vision and mission for your business. You ...
USDA FSA Sample Microloan Application. Small Farms Program. Oregon State University. Send E-mail. Phone: 541-713-5009. OSU College of Agricultural Sciences. 430 Strand Agriculture Hall. Corvallis, Oregon 97331. Contact Us.
Produce Farm Business Plan. Mixed Greens Salad Gardens specializes in exotic salad field greens for local restaurants. When you run a farm, you've got to know all about growing things, including your business. A business plan will help. This selection of farm-related sample business plans will give you a head start on writing a business plan ...
Writing a farming business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire ...
Come up with measurable and obtainable plans. This should include proposals, marketing, and budget. Truly, there is no easy business. So, plan long-term, and everything else will follow. 2. Provide an Executive Summary. Next, you have to learn how to write an executive summary for your business plan. Especially for farm business startups, an ...
Introduction. Writing a business plan for your farm can be an intimidating process to start, but it doesn't have to be overly complicated, depending on the main purpose of the business plan. Simply put, a business plan tells what your farm vision is and how you will make it happen. The goal of this Business Farm Plan Workbook is to provide a ...
Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from any example or template you come across.
Incorporate strategic thinking on the farm by taking time to remind yourself of your big-picture or long-term vision for yourself and your farm business, analyze your current situation, identify areas of opportunity, set strategic goals to align with your vision, develop an attainable plan of action, and identify who is responsible for each ...
The site is aiming for BREEAM Outstanding. Credit: Regal London. Camden Council has unanimously approved Regal's redevelopment plans for 100 Chalk Farm Road in London, England, UK. 100 Chalk Farm Road is a site of approximately 0.75 acres, located next to the Grade II-listed live performance ...