Farm and Business management (FBM), also known as farm and business planning, is the process of coordinating every aspect of your agricultural operation with a view to maximizing your income and profit. This process involves a wide range of skills and knowledge, including planning, management and economic analysis.

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

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 actual enterprise budgets to help forecast income and expenses; calculating ratios; setting financial goals.

Write down how you plan to achieve your objectives. This will help you think through the various functions in your business, and identify weaknesses.

Next, you will need to determine if your land is zoned for production or if it has zoning regulations that limit the type of production you can do. Check with your county or township to see if they have any restrictions.

You will also require adequate public facilities such as parking, signage and customer service. https://mountaincountryfarm.com/the-main-challenges-of-farm-business-planning/ These facilities will be needed to accommodate your customers and visitors and should be in compliance with food safety, environmental and zoning laws.

Your business will ultimately need to be self sufficient and a reliable source of income. This means having enough off-farm income to cover living expenses and saving for the future of your business.