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. A broad set of skills and knowledge is used in this process including planning, management, economic analysis and marketing.

The following are key practices for the management of country farms and businesses:

Marketing – selling your products and services to consumers. Finance – borrowing money to fund your business. Risk management: ensuring your business is protected against disasters.

Financial – creating pro-forma and actual enterprise budgets to help forecast income and expenses; calculating ratios; setting financial goals.

The first step to achieving your objectives is to create a plan. This will allow you to think about the different functions of your business and identify any 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 the township or county to determine if there is any restriction and how it might affect your plan.

Your business will need public facilities as well, such parking areas, signage and customer assistance. 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.

Ultimately, your business will need to be self-sustaining and a viable source of income. This means earning http://www.mountaincountryfarm.com/mountain-farm-relaxation-by-board-room/ enough money to cover your daily expenses and save up for the future.