how to build a farm business plan

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How to Start a Farm: Plan Your Operation

Think about your operation from the ground up and start planning for your business.  A good farm business plan is your roadmap to start-up, profitability, and growth, and provides the foundation for your conversation with USDA about how our programs can complement your operation. 

Keep reading about planning your business below, get an overview of the beginning farmer's journey , or jump to a different section of the farmer's journey.

On This Page

Why you need a farm business plan.

A comprehensive business plan is an important first step for any size business, no matter how simple or complex. You should create a strong business plan because it:

• Will help you get organized . It will help you to remember all of the details and make sure you are taking all of the necessary steps.
• Will act as your guide . It will help you to think carefully about why you want to farm or ranch and what you want to achieve in the future. Over time, you can look back at your business plan and determine whether you are achieving your goals.
• Is required to get a loan . In order to get an FSA loan, a guarantee on a loan made by a commercial lender, or a land contract, you need to create a detailed business plan . Lenders look closely at business plans to determine if you can afford to repay the loan.

How USDA Can Help

Whether you need a good get-started guide, have a plan that you would like to verify, or have a plan you’re looking to update for your next growth phase, USDA can help connect you to resources to help your decisions.

Your state's beginning farmer and rancher coordinator  can connect you to local resources in your community to help you establish a successful business plan. Reach out to your state's coordinator for one-on-one technical assistance and guidance. They can also connect you with organizations that specifically serve beginning farmers and ranchers.

It is important to know that no single solution fits everyone, and you should research, seek guidance, and make the best decision for your operation according to your own individual priorities.

Build a Farm Business Plan

There are many different styles of business plans. Some are written documents; others may be a set of worksheets that you complete. No matter what format you choose, several key aspects of your operation are important to consider.

Use the guidelines below to draft your business plan. Answering these kinds of questions in detail will help you create and develop your final business plan. Once you have a business plan for your operation, prepare for your visit to a USDA service center. During your visit, we can help you with the necessary steps to register your business and get access to key USDA programs.

Business History

Are you starting a new farm or ranch, or are you already in business? If you are already in business:

• What products do you produce?
• What is the size of your operation?
• What agricultural production and financial management training or experience do you, your family members, or your business partners have?
• How long have you been in business?

Mission, Vision, and Goals

This is your business. Defining your mission, vision and goals is crucial to the success of your business. These questions will help provide a basis for developing other aspects of your business plan.

• What values are important to you and the operation as a whole?
• What short- and long-term goals do you have for your operation?
• How do you plan to start, expand, or change your operation?
• What plans do you have to make your operation efficient or more profitable ?
• What type of farm or ranch model (conventional, sustainable, organic, or alternative agricultural practices) do you plan to use?

Organization and Management

Starting your own business is no small feat. You will need to determine how your business will be structured and organized, and who will manage (or help manage) your business. You will need to be able to convey this to others who are involved as well.

• What is the legal structure of your business? Will it be a sole proprietorship, partnership, corporation, trust, limited liability company, or other type of entity?
• What help will you need in operating and managing your farm or ranch?
• What other resources, such as a mentor or community-based organization , do you plan to use?

Marketing is a valuable tool for businesses. It can help your businesses increase brand awareness, engagement and sales. It is important to narrow down your target audience and think about what you are providing that others cannot.

• What are you going to produce ?
• Who is your target consumer ?
• Is there demand for what you are planning to produce?
• What is the cost of production?
• How much will you sell it for and when do you expect to see profit ?
• How will you get your product to consumers ? What are the transportation costs and requirements?
• How will you market your products?
• Do you know the relevant federal, state, and local food safety regulations? What licensing do you need for your operation?

Today there are many types of land, tools, and resources to choose from. You will need to think about what you currently have and what you will need to obtain to achieve your goals.

• What resources do you have or will you need for your business?
• Do you already have access to farmland ? If not, do you plan to lease, rent, or purchase land?
• What equipment do you need?
• Is the equipment and real estate that you own or rent adequate to conduct your operation? If not, how do you plan to address those needs?
• Will you be implementing any conservation practices to sustain your operation?
• What types of workers will you need to operate the farm?
• What additional resources do you need?

Now that you have an idea of what you are going to provide and what you will need to run your operation you will need to consider the finances of your operation.

• How will you finance the business?
• What are your current assets (property or investments you own) and liabilities (debts, loans, or payments you owe)?
• Will the income you generate be sufficient to pay your operating expenses, living expenses, and loan payments?
• What other sources of income are available to supplement your business income?
• What business expenses will you incur?
• What family living expenses do you pay?
• What are some potential risks or challenges you foresee for your operation? How will you manage those risks?
• How will you measure the success of your business?

Farm Business Plan Worksheets

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

Planning for Conservation and Risk Management

Another key tool is a conservation plan, which determines how you want to improve the health of your land. A conservation plan can help you lay out your plan to address resource needs, costs and schedules.

USDA’s Natural Resources Conservation Service (NRCS) staff are available at your local USDA Service Center to help you develop a conservation plan for your land based on your goals. NRCS staff can also help you explore conservation programs and initiatives, such as the Environmental Quality Incentives Program (EQIP) .

Conservation in Agriculture

Crop insurance, whole farm revenue protection and other resources can help you prepare for unforeseen challenges like natural disasters.

Disaster Recovery

Special Considerations

Special considerations for businesses.

There are different types of farm businesses each with their own unique considerations. Determine what applies to your operation.

• Organic Farming  has unique considerations. Learn about organic agriculture , organic certification , and the  Organic Certification Cost Share Program  to see if an organic business is an option for you. NRCS also has resources for organic producers and offers assistance to develop a conservation plan.
• Urban Farming  has special opportunities and restrictions. Learn how USDA can help farmers in urban spaces .
• Value-Added Products . The Agricultural Marketing Resource Center (AgMRC) is a national virtual resource center for value-added agricultural groups.
• Cooperative.  If you are interested in starting a cooperative, USDA’s Rural Development Agency (RD) has helpful resources to help you begin . State-based  Cooperative Development Centers , partially funded by RD, provide technical assistance and education on starting a cooperative.

Special Considerations for Individuals

Historically Underserved Farmers and Ranchers: We offer help for the unique concerns of producers who meet the USDA definition of "historically underserved,"  which includes farmers who are:

• socially disadvantaged
• limited resource
• military veterans

Women: Learn about specific incentives, priorities, and set asides for  women in agriculture within USDA programs.

Heirs' Property Landowners: If you inherited land without a clear title or documented legal ownership, learn how USDA can help Heirs’ Property Landowners gain access to a variety of programs and services

Business Planning

Creating a good business plan takes time and effort. The following are some key resources for planning your business.

• Farm Answers from the University of Minnesota features a library of how-to resources and guidance, a directory of beginning farmer training programs, and other sources of information in agriculture. The library includes business planning guides such as a Guide to Developing a Business Plan for Farms and Rural Businesses and an Example Business Plan .
• The Small Business Administration (SBA) offers information about starting, managing, and transitioning a business.

SCORE is a nonprofit organization with a network of volunteers who have experience in running and managing businesses. The Score Mentorship Program partners with USDA to provide:

• Free, local support and resources, including business planning help, financial guidance, growth strategies.
• Mentorship through one-on-one business coaching -- in-person, online, and by phone.
• Training from subject matter experts with agribusiness experience.
• Online resources and step-by-step outlines for business strategies.
• Learn more about the program through the Score FAQ .

Training Opportunities

Attend field days, workshops, courses, or formal education programs to build necessary skills to ensure you can successfully produce your selected farm products and/or services. Many local and regional agricultural organizations, including USDA and Cooperative Extension, offer training to beginning farmers.

• Cooperative Extension  offices address common issues faced by agricultural producers, and conduct workshops and educational events for the agricultural community.
• extension.org  is an online community for the Cooperative Extension program where you can find publications and ask experts for advice.

Now that you have a basic plan for your farm operation, prepare for your visit to a USDA service center.

2. Visit Your USDA Service Center

How to Start a Farm with USDA

Get an  overview of the beginning farmer's journey  or jump to a specific page below.

Find Your Local Service Center

USDA Service Centers are locations where you can connect with Farm Service Agency, Natural Resources Conservation Service, or Rural Development employees for your business needs. Enter your state and county below to find your local service center and agency offices. If this locator does not work in your browser, please visit offices.usda.gov.

Learn more about our Urban Service Centers . Visit the Risk Management Agency website to find a regional or compliance office  or to find an insurance agent near you.

How to Start a Farm in 2024: Detailed Steps, Costs, and Considerations

Published: January 22, 2024

If you've ever wondered how to start a farm, you're not alone. In this article, we show you an opportunity to stake your claim, embracing a life rooted in the sweat of your brow and the fertility of the land.

You are about to embark on a new farming journey, and we're here to provide substantial insights into the key pieces of starting a farming business. After all, this isn't just a hobby or passing fascination. Now, let's roll up our sleeves and get down to earth.

Step-by-Step Guide to Starting Your Farm

Learn about farming goals and why they are important for success.

Selecting the right type of farm based on your ambition and your goals

Discover how to secure land and resources vital for starting a farm.

Understand the significance of a comprehensive farm business plan and its key components.

Gain knowledge on executing your plan and tips for initiating operations effectively.

Step 1: Identifying Your Farming Business Goals

Drafting clear goals is important before venturing into any business ; farming is no exception. Goals serve as your GPS, guiding your actions and decisions from inception to operation and beyond. For instance, you may aim to start a crop farm to provide organic produce for the local market.

Alternatively, you may dream of starting an animal farm, focusing on dairy or meat production. Regardless of your chosen direction, an articulated path clears ambiguities and enhances focus.

Importance of Setting Clear Goals

Clear aims provide guidelines that shape your farming operations. Outlining SMART (Specific, Measurable, Achievable, Relevant, Time-bound) farming objectives provides a strategic pathway to making informed decisions. It is this specificity that allows one to select the most suitable type of farm, choose the appropriate land, and manage resources meticulously.

Examples of Farming Business Goals

For instance, if your goal is to start an off-the-grid permaculture farm, decision-making will pivot to eco-friendly operations. If the aim is to start an urban rooftop farm, the focus may be on optimizing limited space for maximum yield.

Step 2: Choosing the Right Type of Farm

Each type of agribusiness requires unique considerations, from the soil's quality and climate conditions to market potential. Data suggests that understanding your intended farm helps narrow your options and ensures that you invest wisely.

Different Types of Farms and Their Requirements

Each has unique money-making requirements , whether a crop farm, dairy farm , poultry farm, horticultural operation, or mixed farm. For instance, dairy farms demand significant attention to livestock health and handling, while a crop farming business needs precise knowledge of soil management and plant diseases.

How to Choose the Right Farm Based on Your Goals

In determining the right farm type, you should consider your personal interests and skillset, market demand, available resources, and farming location. Doing this aligns your venture with your core objectives, making progression smoother and more fulfilling.

Step 3: Developing a Farm Business Plan

A well-crafted farm business plan is important for securing funding from lenders or investors and serves as your farming business blueprint.

Importance of a Business Plan

A business plan outlines the specifics of your farm operations, the marketing tactics, financial projections, and resource management strategies. It allows you to anticipate possible challenges and plan for them in advance.

Key Elements of a Farm Business Plan

Essential components of the plan should include an executive summary, your farming business goals, method of operations, marketing strategies, financial forecasts, and risk management plans.

Step 4: Securing Land and Resources

Once you've defined your farming business goals and the most suitable type of agribusiness, the next step is securing land and requisite resources. According to the USDA's Farmers.gov , you'll need to consider factors like creating a plan, assessing the land, find funding, among other steps, before selecting the right farmland for your venture.

How to Find and Purchase Suitable Land

Identifying the right land entails comprehensive research to ensure it meets your farming requirements. We recommend hiring an expert to perform soil tests and environmental assessments before finalizing a purchase.

Necessary Resources for Starting a Farm

Apart from land, other resources are crucial for a farm: capital, farming equipment, seeds or animals, and labor. Having a checklist of everything you need to have a successful farming operation and calculate comprehensive startup costs is important.

Step 5: Implementing Your Plan and Starting Operations

Having a successful farm business isn't just about planning. The next phase is implementation.

Steps to Implement Your Business Plan

These steps range from acquiring the necessary permits and purchasing resources listed in the plan to hiring employees and initiating operations. It's important to revisit and adjust the plan regularly as circumstances change.

Tips for Starting Operations Smoothly

Successful operation commencement hinges on planning. Develop an operation checklist, delegate responsibilities to your team, and ensure all necessary regulations are adhered to for a smooth start. A great emphasis should always be put on quality assurance.

Incorporating these steps provides a roadmap for avoiding common pitfalls and moving toward a successful venture when starting a farm. As always, make sure you conduct market research before starting your venture.

The table below shows the issuing agency for permits based on the business activity you plan on pursuing (source: sba.gov )

Next, gain a clear understanding of the costs associated with starting a farm.

Understanding the Costs of Starting a Farm

Get a clear picture of the initial and ongoing operational costs of the farming business

Learn strategies to manage these costs effectively

Initial Investment Costs

You can start a small farm for as little as $600 to over $10,000 because it depends on various decisions and factors like the type of equipment and whether you're hiring people to help. Before dipping your toes into the farming industry, it's crucial to comprehend the initial investment costs. The foundational pillars involve expenses related to land acquisition, purchasing necessary farming equipment, and introducing the desired crops or livestock to your property.

You can also see if you qualify for loan programs if you're a beginner farmer.

The land cost can vary dramatically based on the location, fertility, and size. Typically, more fertile land boasting a good location tags a steeper price. Important to note – the calculation must also include the cost of relevant insurance coverage (liability, property and crop insurance etc.).

Farming equipment follows next. Tractors, planters, plows, and irrigation systems have substantial price tags. Acquiring livestock requires immediate financial attention if you're planning on animal farming.

Less apparent costs include seed, buildings, and site improvements like fencing or driveways. Now the question becomes, how do you manage these initial costs?

One common approach is to start small and scale over time. At first, consider leasing the land or buying used equipment. Government grants and loans to support farmers can also help ease the financial burden.

Remember, it's not about cutting corners but smart investing and growing steadily.

Ongoing Operational Costs

Even after overcoming the hurdle of initial costs, farms have ongoing operational expenses that need frequent attention. These costs mostly include maintenance of your equipment, seeds for new crops, animal feed, irrigation, and labor costs.

It might surprise you, but labor, including salaries, benefits, and insurance for your employees, often represents one of the highest ongoing costs you'll face. Regular maintenance to keep your machinery in optimal condition and replacing worn-out parts are necessary.

Alongside, insurance can become a hefty annual expense. You will need to include it as a necessary expenditure that safeguards you against major losses.

As we get into the rhythm of regular farm operation, let's dive into strategies for a cost-effective farming business. Streamlined operational practices are the name of the game here.

Precision farming – using technology and data to optimize yields and efficiency – is one way to get more for your money. Properly maintaining your equipment can reduce the frequency and cost of breakdowns. Choosing the right crop or livestock based on markets and your particular farm's strengths could also lead to better profitability.

Effective cost management in farming isn't about cost-cutting; it's about value-maximizing, ensuring every dollar spent returns the best yield or benefit possible. As with most business ventures, this might involve a steep learning curve and plenty of trial-and-error, but with persistence and careful planning, a sustainable and financially stable farm is well within reach.

To help you get started, here is a list of items to consider when starting a farm.

Equipment, Machinery & Tools :

General farming tools and equipment

Primary farm housing structures

Fencing materials

Storage facilities

Harvesting equipment

Fuel for machinery

Greenhouse structure

Irrigation system

Cooling equipment

Packaging material if you're selling on farmers markets

Crop Preparation :

Soil and Fertilizers

Crop protection materials

Pest control supplies

Raising Livestock (if applicable)

Cost per animal type ( cows , chickens , horses) multiplied by the number of animals

Preventative care costs

Additional :

Marketing budget (if applicable)

Utilities (water, electricity)

Transportation (for products)

Labor (if not self-operated)

Training and Education for yourself or your staff

Legal and regulatory compliance fees

Emergency fund

Overcoming Challenges in Starting a Farming Business

Anticipate and prepare for financial obstacles common among new farmers.

Understand and navigate the maze of regulatory requirements.

Tackle environmental and climate-related risks with sustainable, resilient farming strategies.

Dealing with Financial Challenges

Many aspiring farmers often encounter a series of financial obstacles before they can even plant their first seed. It's important to familiarize yourself with these challenges and employ strategic financial management resources. A little extra research can turn up additional financial assistance just when you need it.

Common financial hurdles for new farmers

Capital investment is a critical component of starting a farm, including the procurement of land, essential farming equipment, and seeds. Additional costs include labor, packaging, transportation, marketing, and, potentially, organic certification fees. These costs can be daunting, especially for those without deep pockets or a rich agricultural heritage.

Resources and strategies for financial management

However, confronting these financial challenges requires a strategic approach. Creating a detailed, realistic financial plan is indispensable. Be sure to understand your break-even point and buffer any unexpected expenses. Crowdfunding and agricultural grants can also supplement initial capital needs.

Navigating Regulatory Requirements

Starting a farm business isn't just about tilling the land and harvesting crops. It is also about compliance with farming regulations protecting the farmer and consumer. It can feel overwhelming, but understanding these requirements can help prevent hefty penalties and maintain a farm's success.

Overview of farming business regulations

From business licenses, zoning, and water rights to safety inspections, various governmental bodies regulate different aspects of farming. These regulations can vary by geography, crop type, and farming practices. Checking with local, state, and national bodies for applicable regulations is important.

Tips for compliance and avoiding penalties

Ensuring compliance with these regulations requires comprehensive record-keeping, regular audits, and proactively keeping updated on law changes. When in doubt, get legal help to guide you through the maze of regulations.

Managing Environmental and Climate Risks

Climate change presents unique challenges to a farming business. A sustainable and resilient approach is essential for prolonged success.

Impact of climate change on farming business

Climate change can affect farming by altering rainfall patterns, inducing higher temperatures, and increasing the frequency of extreme weather events. All these factors create uncertain conditions for crop growth and livestock health, fundamentally affecting farming viability.

Strategies for sustainable and resilient farming

Successful adaptation to climate change necessitates strategic planning. Diversify your crops , use water-saving techniques, and employ climate-smart agricultural practices. Use data to understand potential climate risks, anticipate changes, and make informed decisions. Resilience is built one day at a time; it is a marathon, not a sprint. Being adaptable is key in navigating this challenge.

Overcoming challenges in starting a farm requires diligence and adaptability. But with careful planning and proactive management, you'll conquer these hurdles and ensure a thriving farm operation.

Essential Resources for New Farmers

Navigate red tape with government and nonprofit programs

Forge valuable connections within farming communities and local markets

Harness the power of the digital world with online tools specifically catered to farmers

Government and Nonprofit Programs for Beginning Farmers

Long-standing government support and fresh initiatives from nonprofit organizations provide a tailwind for those starting a farming journey. These entities offer many resources, including loans, grants, and educational programs. Brand new farmers, in particular, are incentivized towards benefits that can ease their entry into the industry.

Overview of Available Programs

A wide spectrum of programs is available, from seed funding to extensive land conservation efforts. Several departments under the U.S. Department of Agriculture (USDA), such as the Farm Service Agency and Conservation Service, offer schemes targeting budding farmers. Simultaneously, nonprofit organizations like the National Young Farmers Coalition provide the necessary advocacy and direct assistance. A thorough exploration of both can yield lucrative opportunities for new farmers.

How to Apply and Make the Most of These Resources

Applying for these programs typically involves an online application process, documentation, and patience. Detailed guidelines provided by the issuing authority ensure a smooth process. Most importantly, don’t view these resources merely as financial aid. Instead, consider them an invaluable opportunity to learn more about the industry, network with veterans, and potentially shape local farming policies.

Farming Communities and Networks

Even with modern technology, farming remains a community-centric practice. Networking within these communities can be a game-changer for those new to the field, providing rich insights from generations of farming.

Importance of Community Supported Agriculture

Farming isn't just about tilling soil and growing crops. It involves intricate knowledge about local ecosystems, market demand, and financial management. All of which can be readily provided by a robust farming community. These communities can potentially speed up your learning, mitigate common beginner's mistakes, and even offer emotional support during tough times.

How to Connect with Other Farmers and Learn from Their Experiences

Consider attending local farming exhibitions and workshops or joining farming cooperatives to meet experienced farmers. Even during family gatherings, farmers markets offer a convenient place to meet several farmers in the same area. Social media platforms also offer virtual farming communities where you can easily connect with and learn from farmers worldwide.

Online Resources and Tools

The digital revolution hasn't bypassed farming. Several online resources and applications are available to help farmers stay updated, forecast weather conditions, manage their farms, and interact with a global community.

Useful Websites, Apps, and Tools for New Farmers

Online services such as Ranchr offer a much-needed cattle management service for farmers. Using these resources optimally can keep you at the forefront of industry advancements, helping streamline farm management and supporting critical financial decision-making.

How These Resources Help in Starting and Managing a Farm

These digital tools offer multifaceted benefits. Beyond the logistics of farming, they enhance your understanding of market trends, equip you with skills to analyze data for better decision-making, and connect you with an extensive network of farmers. Coupling these digital resources with insights from local farming communities can provide an optimal blend of traditional knowledge and modern efficiency. But remember, nothing beats connecting with your fellow farmer face to face. Don't hesitate to pick up the phone.

Planting the Seeds for Your Future

Venturing into farming this year could signify a step towards sustainability and entrepreneurship. It involves careful planning, budgeting, and navigating the potential challenges of crop failure, pests, and changing market conditions.

The value of this endeavor lies in improving food security, growing a sustainable business, fostering a deeper connection with nature, and offering value to your community.

Now, armed with this roadmap, your journey begins. Consider your starting capital, scout locations, select your crops, and engage with local farming communities for mentorship.

We hope these steps and strategies have illustrated and given you inspiration on how to start a farm.

Remember, the earth beneath us is teeming with possibilities - it's time to dig in and cultivate your own!

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Small Business Trends

How to create a farm business plan.

Crafting a comprehensive farm business plan is a crucial step towards transforming your agricultural visions into tangible realities. This plan serves as a blueprint, enabling you to formally articulate your thoughts, ideas, and aspirations. Engaging in this process can lead to profound insights, illuminating the path to a thriving agricultural enterprise.

Even though the term ‘farm business plan’ might evoke a sense of formal rigidity, it’s important to remember that this document is, in fact, a living, evolving entity. Just like a seedling that sprouts, grows, and changes with the seasons, your business plan is not meant to be static.

It’s something you nurture, revise, and expand as circumstances dictate and as your farm business matures. Feeling pressure to perfect your business plan from the outset could be paralyzing. Instead, we suggest you view this document as a foundation that can be continuously built upon.

To get you started, we offer a detailed farm business plan template. This invaluable resource can be tailored and expanded to suit your unique agricultural venture, whether you’re cultivating a sprawling wheat field or nurturing a boutique organic herb garden.

The most effective business plans are those that exhibit flexibility and resilience, characteristics that are at the heart of any successful farm business. Agriculture, by its very nature, is a domain subject to the whims of Mother Nature. From unpredictable weather patterns to seasonal variations, farmers of all kinds grapple with an array of external factors.

Therefore, your farm business plan should not only anticipate these challenges but also prescribe adaptive measures to navigate through them. It’s this inherent adaptability that transforms a good farm business plan into a great one.

Writing a Farm Business Plan Template: 15+ Things Entrepreneurs Should Include

A farm business plan, like any strategic document, should be comprehensive, encompassing all aspects of your operation, be it agricultural (crops) or product-based. Utilize these 15 key sections to shape your farm business plan template.

Do bear in mind that while these sections are integral, they are by no means exhaustive. Your farm business plan may necessitate additional topics based on your specific farming operations.

Creating a robust business plan is of paramount importance, whether you’re kickstarting a farm venture or acquiring an existing one. Our farm business plan template starts off with an executive summary.

Executive Summary

The executive summary provides an essential overview of your farm business. It helps to streamline communication and understanding between various stakeholders, such as internal team members, potential lenders, business partners, and customers. When drafting your executive summary, consider the following key components:

• Business Profile : Provide a snapshot of your farm business, describing its nature and scope. Are you into crop cultivation, livestock rearing, or any specialized farming practices?
• Products : Clearly outline what product or products your farm will produce. These could range from dairy products to specific crops or even services like agrotourism.
• Production Methodology : Describe how you plan to achieve your production goals. This could involve discussing your farming techniques, usage of technology, or unique methodologies.
• Target Audience : Identify the individuals or groups who will be interested in your farm products or services. 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. This helps to convey your long-term objectives and core values.

Remember, your executive summary is essentially the first impression of your business plan. Making it comprehensive, clear, and compelling will help attract interest and support from stakeholders.

Goals and Objectives

A well-crafted business plan should encapsulate both personal and economic goals and objectives. Many successful farm business plans also address environmental stewardship and community outreach. You may want to include goals around preserving farm resources for future generations, ensuring that both the operational and stewardship aspects remain within the family.

Introduction

Your introduction should provide information about the business owners, including their backgrounds and levels of industry experience.

Mission Statement and Values of Your Farming Business Plan

This section enables you to express the core values that led you to the farming business, whether it’s an urban farming venture or a homemade product-based farm. Your mission statement should reflect these values. Sustainable practices and conservation are often key motivations that draw people to farming, so don’t be shy to share your commitment to such principles.

Industry History

Understanding your place within the wider agricultural landscape is key. Be sure to research farms that have historically dominated your region, whether they specialize in vineyards, urban farming, or livestock rearing. Use this research to make educated projections about the future.

Company Background and History

Share the history of your farm if it has been a long-standing family venture or the journey leading up to your purchase if it wasn’t. If your farm business is a startup, focus on the business experience and backgrounds of the involved parties.

Competitor Analysis

Understanding your competition is crucial. In the agricultural sector, farmers often share resources, such as a high-tech corn planter, or cooperate in marketing endeavors. Factor in such synergies when analyzing competitors.

Target Market

Clearly define your target market. This can include area groceries, farmers’ markets, or online customers. If you’ll be relying on online sales, ensure your website is professionally designed, keyword optimized, and easily discoverable.

Products and Services

Describe each product or service offered by your farm, highlighting those features most appealing to your target market.

Organization, Human Resources, and Management Plans

These interconnected elements cover your farm’s day-to-day operations, employee roles and responsibilities (including their job descriptions ), and overarching management plans.

SWOT Analysis

Conduct a SWOT analysis to identify your farm’s strengths, weaknesses, opportunities, and threats. This will help you strategize on how to leverage your strengths, mitigate your weaknesses, exploit opportunities, and neutralize threats.

Your vision is the roadmap for your farm’s future. It should express not just your financial aspirations but also your plans for the farm operation in the long run.

Growth Strategy

A comprehensive growth strategy should outline your plans for debt reduction, savings, and business expansion. Keeping detailed farm production records is key to evaluating the effectiveness of your growth strategy.

Financial Plan

Your financial plan should include elements like balance sheets, income statements, projected cash flows, loan repayment schedules, and depreciation factors.

Marketing Strategy

A robust marketing strategy is essential for your farm’s success. Look into brochures, advertisements, and joining co-op groups. Resources from institutions like the University of Minnesota and Cornell University offer comprehensive insights into effective marketing strategies for farm businesses.

Establishing a Farming Business Entity

Discuss the legal structure of your farm business. Will it be a sole proprietorship, a partnership, an LLC, or a corporation? Outline the pros and cons of each and why the chosen structure is the best fit for your farm business.

Detailed Description of Farm Operations

Include a section that provides an in-depth look at your day-to-day farm operations. This can cover everything from crop rotation plans, livestock breeding programs, to the use of technology and machinery in your farming activities.

Risk Management Strategies

Address potential risks and challenges your farm might face, such as natural disasters, market fluctuations, or pest infestations. Discuss the strategies you plan to implement to mitigate these risks, like insurance coverage, diversification, and emergency response plans.

Sustainability and Environmental Impact

Highlight your farm’s approach to sustainability and its impact on the environment. Discuss practices like organic farming, conservation techniques, and renewable energy usage, which demonstrate your commitment to environmental stewardship.

Community Involvement and Social Responsibility

Describe how your farm business plans to engage with and contribute to the local community. This could include hosting educational farm tours, participating in farmers’ markets, or supporting local food programs.

Supply Chain and Vendor Relationships

Detail your farm’s supply chain and vendor relationships. Explain how you plan to source inputs like seeds, feed, or equipment, and any partnerships with local suppliers or distributors.

Technology and Innovation

Discuss the role of technology and innovation in your farm business. This could include the use of precision agriculture, innovative irrigation systems, or the adoption of farm management software to enhance efficiency and productivity.

Training and Development Plans

Explain how you intend to train and develop your staff. Include plans for ongoing education, skill development, and potentially, leadership training for future farm managers.

Expansion and Diversification

Outline your long-term plans for expansion and diversification. This could involve adding new crops, branching into agrotourism, or exploring value-added products like farm-produced jams or cheeses.

Exit Strategy

Consider including an exit strategy for your farming business. This could be a plan for succession, selling the business, or transitioning to a different type of agricultural operation.

Wrap up your business plan with a conclusion that reiterates your farm’s core mission and vision, and express your enthusiasm and commitment to making your farm business a success.

Frequently Asked Questions

Include a FAQ section at the end of your business plan to address common questions potential investors or partners may have about your farm business. This can include queries about your business model, funding needs, or market potential.

Provide an addendum for additional documents that support your business plan. This can include resumes of key team members, detailed financial projections, market research data, or letters of support from future customers or partners.

Do I Need a Business Plan for My Farm?

Even if you’re knee-deep in the dirt, tending to your crops or livestock, every farming enterprise has the core elements of a business at its heart. These include aspects such as operations, marketing, human resources, and finances. When you embark on developing a farm business plan, it might astonish you to see where the journey takes you. You could end up discovering facets of your farm business that you hadn’t previously considered.

One of the many advantages of constructing your business plan is the opportunity it affords to involve others. Employees, family members, even your loyal farm dog might have innovative small farm business ideas that could significantly enhance your farm’s productivity and marketability. A different perspective can often yield solutions for issues you might not have even been aware of. Therefore, encourage an open exchange of thoughts and ideas. Who knows, the next great idea could be lying right under your hay bale!

More than just a document outlining your farm’s structure, your farm business plan should serve as a valuable decision-making tool. With it, you can confidently navigate the varied terrain of farm management, from daily operations to larger strategic initiatives. When you’ve got a meticulously crafted, robust farm business plan, it doesn’t just narrate your farm’s story, but also provides you with a roadmap to future growth and success.

Beyond this, a top-notch farm business plan can also be a lever that helps you access critical financing. Lenders and investors are more likely to support your venture when they see a well-structured, thoughtful business plan that articulates your vision, illustrates your understanding of the market, and demonstrates your commitment to fiscal responsibility.

So, where to begin? Let’s dive into our fundamental guide to crafting a farm business plan using our adaptable template. This resource has been designed to help you capture every aspect of your agricultural venture, laying a strong foundation for a bountiful future.

How Do I Write a Small Farm Business Plan?

Don’t sit down to write the whole thing. Chip away, one section at a time. Keep in mind that the plan doesn’t have to be the definitive last word. You can make adaptations.

How do you start a farm business plan?

Start with one piece of the business plan. One of the hardest sections of a business plan to write is the Mission Statement . If you get bogged down there, continue and come back to it later.

How much do farm owners make a year?

As you can imagine, the net income varies greatly by type of farm business.

The bottom line after expenses may not be high. Farmers need to consider net worth as assets grow and the farm property increases in value.

How much does it cost to start a small farm?

Getting set up to raise 100 beef cattle costs lots more than getting set up to raise 100 rabbits.

Things like property acquisition, soil preparation, equipment and machinery and the key costs. Other costs may be irrigation systems, packaging and trucking.

What is the most profitable farming business?

Poultry farming is currently the most profitable – and common – farm business in the world. It includes chicken, turkey, quail, ducks and goose, that are being raised for meat or eggs.

It’s also one of the most expensive businesses to start, requiring significant capital investment. The industry is very labor-intensive and labor costs are high.

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Details of a Small Farm Business Plan

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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.

What Is a Business Plan?

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:

Mission Statement

Your farm’s mission statement is your overarching purpose for your business:

• Why does your farm exist?
• What purpose does your farm serve?
• Where is your farm headed?

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:

• Rewarding, and have a

Background Information

In this section of your business plan, take inventory of what you have right now:

• Where are you located?
• How many acres of land are you farming?
• When did you begin farming?
• How are you currently operating?
• What general practices do you use for such things as conservation, tillage, environmental impact, and marketing?

Farm Strategy

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.

• Gather information and research markets. Make sure that your farm plan fits into the general market in terms of supply and demand. Investigate and analyze industry trends, identify competitors, and define buyers.
• SWOT Analysis. This is an analytical tool that can be used in making decisions. SWOT stands for: strengths, weaknesses, opportunities, and threats. As a business, analyze your internal strengths and weaknesses. Then look externally at what opportunities and threats exist - competitors, new markets, government regulations, economic conditions, and so forth.
• Create alternative strategies. Looking at the information you've gleaned and the analysis you just did, think through options for your farm strategy. Don't rely on price alone; economies of scale are challenging on the small farm level.
• Don't jump to one conclusion immediately. Really spend some time fleshing out the specifics of some of the strategies and looking at their advantages and disadvantages. Try to find options that combine your internal strengths with opportunities in the external environment.
• Look at all your strategies, then reread your mission statement. The ideal farm plan will fit your mission best.
• Write an implementation plan. This is where you write a plan that will make your new strategy happen.

Marketing Strategy and Plan

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.

Management Summary

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.

Financial Analysis

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.

Pulling It All Together

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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Farm Business Plan

Used 5,069 times

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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Farm Business Plan Template

Prepared by:

​ [Sender.FirstName] [Sender.LastName] ​

​ [Sender.Title] ​

​ [Sender.Phone] ​

​ [Sender.Email] ​

Executive Summary

​ [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.

Future of the Farm

​ [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.

Company Description

Business address and contact.

​ [Sender.StreetAddress] , [Sender.City] , [Sender.State] [Sender.PostalCode] ​

​ [Sender.FirstName] [Sender.LastName] : [Sender.Phone] , [Sender.Email] ​

Principal Members

(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)

Legal Structure

​ [Sender.Company] is a sole proprietorship.

Company Details

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

Farm Assets

Greenhouse and propagation supplies

Farm stand (planned for 20XX)

Market Research

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.

Regulations

​ [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.

Service Line

Product/service.

Services Include:

Pasture-raised animals

Produce cultivation

Public apple picking

Public hay maze

Special event packages

Marketing & Sales

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.

Sales Strategy

​ [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.

Five-year plan

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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11 Steps to a Whole-Farm Plan

A broad-based operating plan helps your family stay on course.

It's no insurance against setbacks, but having a whole-farm plan in place can help your family stay on course when difficulties unfold.

"It's often tough to communicate as a family because you tend to focus so much on the day-to-day business operations of producing a commodity," says David Marrison, Ohio State University agriculture-natural resources Extension educator.

"Having a whole-farm business plan in place helps you stay true to your vision and the mission of the operation," he says. "It helps you stay on course and not get lost in the weeds of not having a plan, especially when you're facing big stressors like crop failures or tractor engines going down."

A whole-farm plan encompasses the breadth and width of your farm family's business. "You might say it gives a perspective of the operation from a distance of 30,000 feet, as opposed to a view from 10 feet away," says Marrison.

A whole-farm plan addresses a broad spectrum of components, such as family values and goals, a business analysis and business goals, a business plan, retirement plan, transition plan, estate plan, and investment plan.

"The parts of the whole-farm plan are like spokes in a wheel. All need to work together in harmony for the long-term success of the operation, and all play a role in keeping it operating into the future," he says.

The writing of a broad-based plan begins, of course, with the holding of family business meetings. Before the actual writing of the plan begins, the topics of the meetings might facilitate a process of taking stock of the family, individual assets and goals, and resources and goals of the business.

Marrison suggests taking the following 11 steps to write a whole-farm plan.

1. Take stock of the family.

Look at the history of your family and its farm, and identify family values and family goals.

"It is valuable for the business to begin the planning process by reflecting on family and farm history," he says. "Valuable lessons can be learned by all the generations involved by examining past successes and disappointments. The underlying values and goals of the family unit should also be determined. While these values and goals often remain unspoken, they have a large impact on how family members treat each other and employees, and how they make business decisions."

2. Assess individuals' goals, strengths, and also weaknesses.

"Each member of the farm business should conduct a self-assessment of his or her communication, financial, production, marketing, and management skills," says Marrison. "This is particularly important when bringing generations back to the farm."

This process helps your family determine the areas of responsibility to be allocated to each person. A lack of skill or experience in certain areas could suggest outsourcing some jobs. Or, it could suggest a need for additional education or training.

"You should always be looking at ways to help family members and employees improve their skills and strengths," says Marrison.

3. Analyze the business and set business goals.

A business analysis takes stock of available land, labor, capital, management resources, profitability, business structure, operating procedures, and employee management.

"After taking a snapshot of where the farm business is currently, the family business team should develop key goals for the future," says Marrison. "It is important that each individual share his or her individual goals and skill-set assessments with the other members of the business during this process. Members can then work together to determine the responsibilities of each team member and to develop goals."

4. Write a mission statement.

"A mission statement is a short statement describing the fundamental reason for the business to exist," he says. "It identifies the underlying values that are going to push your family and the business forward."

5. Write a business plan.

The previous steps comprise an internal analysis that can be used to develop plans encompassing the diverse areas of your farm's operation.

"A business plan helps your family develop a plan of action for production and operation practices," says Marrison. "It also helps develop plans for the financial, marketing, personnel, and risk-management sectors of the business."

This analysis could also examine the strengths, weaknesses, opportunities, and threats in each of these areas.

6. Plan for retirement.

This plan identifies retirees' needs and the role the farm plays in meeting these. "Retirement plans should be established early for all members of the business," says Marrison. "The profitability of your farm should be such that a family member can retire and not adversely affect the financial position of the business."

7. Plan a transition strategy.

This describes how your farm will be transferred to the next generation. It encompasses both the transfer of assets and the transfer of managerial control. It describes how the retiring generation will transfer their knowledge to the younger generation, and how and when managerial responsibilities will be transferred.

8. Make an estate plan.

"Farm estate planning determines how your farm's assets will be distributed upon the death of the principal operators," he says.

9. Outline an investment plan.

Investments vary widely by family and farm, typically comprising land, machinery, and livestock. Others have off-farm investments also. Determine how these investments affect future needs.

10. Set goals in all areas.

"Setting goals establishes a plan of action for each area of business activity," says Marrison. "Set measurable goals that are short, mid, and long term. At monthly family meetings, you can look back at the goals you set in each major area of planning. Reviewing goals keeps them in focus, even though you might not be able to act on them until a future date."

11. Plan for the unexpected.

In each planning area, work into the plan a what-if scenario. "Look at what unexpected things could happen," he says. "Having conversations about those what-if circumstances no one wants to think about could help you stay on target and not get stressed when bad things happen."

In sum, says Marrison, "By implementing a whole-farm approach to business planning, your farm family can be ready to face the future with confidence."

David Marrison | 440/576-9008 [email protected]

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How to Write a Farming Business Plan: Template and Guide

americanfarmfi

May 22, 2023

Starting and running a successful farming business requires careful planning and strategic decision-making. One essential tool that every farmer should have is a well-crafted farming business plan. A comprehensive business plan serves as a roadmap for your agricultural venture, guiding you through the various stages of development and ensuring that you stay focused on your goals. We will provide you with a step-by-step guide on how to write an effective farming business plan and start you off with a template. 

Overview of a Farming Business Plan

Before diving into the specifics, let’s take a moment to understand what a farming & agriculture business plan entails. Essentially, a farm business plan is a written document that outlines your farming objectives, strategies, and financial forecasts. It serves as a blueprint for your farm’s operations, helping you make informed decisions and communicate your vision to potential investors, lenders, or partners.

The Purpose of a Farming Business Plan

The farming business plan is going to define and communicate your farm’s mission and goals. It helps provide a clear direction for your operations, resources, and ensures that everyone involved in the business is on the same page. Additionally, a well-crafted business plan is often required when seeking financing or partnerships. Lenders and investors use it to evaluate the viability and profitability of your farming venture.  

Key Elements of a Farming Business Plan

Let’s explore the elements that make up the Farming Business Plan. 

Executive Summary

The executive summary is a brief overview of your entire plan. It should summarize your farm’s mission, goals, target market, and competitive advantage. While it appears at the beginning of your plan, it is often written last to ensure that it accurately reflects the content of the document.

Market Analysis

A thorough market analysis is crucial for understanding your target market, identifying potential customers, and evaluating your competition. This section should provide detailed information about market trends, customer demographics, and demand for your products or services. Conducting market research and gathering data from reliable sources will strengthen the credibility of your analysis.

Products and Services

In this section, describe the specific products or services your new farm will offer. Provide details about their features, benefits, and how they meet the needs of your target market. Discuss any unique selling points or competitive advantages that set your offerings apart from others in the industry.

Marketing and Sales

Outline the strategies for promoting and selling farm products. Explain how you plan to promote your farm and reach your target market. Include information about your pricing strategy, distribution channels, and any partnerships or collaborations that may enhance your marketing efforts. Developing a comprehensive marketing plan will help you attract customers and generate sales. 

Describe the operational processes and workflows involved in running the farm, including land preparation, planting, harvesting, livestock care, and post-harvest handling. Highlight the management structure, key personnel, and their roles and responsibilities.

Financial Plan

The financial plans are a critical component of your farming business plan as it demonstrates the financial viability and sustainability of your farm. It should include projected income statements, cash flow statements, and balance sheets for the next three to five years. Additionally, outline your funding requirements and any existing or potential sources of financing. 

American Farm Financing offers many financing options to fit your needs: operating loans, cash rent loans, farm mortgages, refinances, and equipment loans. See all AFF loan options .

Setting Financial Goals

Forecasting expenses is critical when starting a farming operation. List out the main buckets of expenses (inputs, machinery, labor, land, interest, and consulting services). Where possible, get pricing quotes to formalize your expenses as much as possible for what you would like to grow.

After you’ve forecasted expenses, you can set a goal for how much profit, or margin, you intend to make. Use futures sales prices to project what you can sell your crop for. The difference between your sales price and your expenses will become your profit. Ensure that this income matches your expectations and can cover any personal expenses you hope the money will be used for.

While a one-year operating plan is critical to get started, remember that farming is a long-term pursuit. Depending on how many upfront expenses you need to make, it may take multiple farming seasons to turn a significant profit. 

Conducting Market Research

Before you can develop a solid business plan for a farm, it is essential to conduct detailed market research. Conduct an analysis of the target market, including its size, growth potential, and trends. Identify the target customers, their needs, preferences, and buying behavior. This assessment will allow you to be an expert on the market and differentiate you from the rest of the competition. 

Writing a Farming Business Plan

Now that we have covered the key elements of a farming business plan, let’s dive into the process of writing one.

Creating a Timeline for Implementation

This timeline can be as specific to your needs as possible. You want to make sure that every necessary box is checked before launching your farming operation. This is a suggested timeline for implementing your plan, but coordinate as you see fit and adapt to things that may pop up:

Preparation: 1-6 Months 

• Complete all sections of the farming business plan, including market analysis, financial projections, and operational strategies.
• Seek funding options, such as loans, grants, or investors, and secure the necessary financing for your farming venture.
• Identify suitable land for your farm and negotiate the purchase or lease agreement.
• Conduct necessary soil testing and prepare the land for farming activities.
• Source and purchase farming equipment, machinery, and inputs (seeds, fertilizers, livestock, etc.) required for your chosen agricultural activities.
• Hire key personnel, such as farm managers, laborers, and administrative staff, as per your business plan’s organizational structure.
• Establish relationships with suppliers and vendors to ensure a steady supply of inputs.

Operations: 6-12 Months

• Initiate planting or livestock management based on the farming plan.
• Implement appropriate cultivation techniques, crop rotation, or livestock management practices.
• Monitor and adjust farming operations to optimize production.
• Develop marketing strategies to promote farm products to target customers.
• Implement sales channels, such as direct sales, farmers’ markets, online platforms, or partnerships with retailers or small restaurants.

Below is a helpful template from fsa.usda.gov to get you started. Download your farming business plan template here.

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Agriculture Business Plan Template

Written by Dave Lavinsky

Agriculture Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and farm owners create business plans to start and grow their agricultural companies.

If you’re unfamiliar with creating an agriculture or farm business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a good business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an agriculture business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Agriculture Business Plan?

A business plan provides a snapshot of your agricultural business as it stands today, and lays out your growth plan for the next five years. It is a valuable tool that explains your business goals and your strategies for reaching them. It also includes market research to support your plans.  

Why You Need a Business Plan for an Agriculture Business

If you’re looking to start an agricultural business or grow your existing agricultural company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your farm to improve your chances of success. Your agricultural business plan is a living document that should be updated annually as your company grows and changes.  

Sources of Funding for Agricultural Businesses

With regard to funding, the main sources of funding for an agricultural business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review a comprehensive 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 ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for agricultural companies.

    Finish Your Business Plan Today!

How to write a business plan for an agricultural business.

If you want to start an agricultural business or expand your current one, you need a business plan. A good farm business plan should include 10 sections as follows:

Executive Summary

Company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

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 kind of farm business you are running and the status. For example, are you a startup, do you have an agricultural business that you would like to grow, or do you have a farming operation that you would like to sell? Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the agricultural industry.
• Discuss the type of farm you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

In your company overview, you will detail the type of agricultural production you are operating.

For example, you might specialize in one of the following types of agricultural businesses:

• Animal feed manufacturing : the production and sale of food formulas for farm animals.
• Agrichemical and seed manufacturing : the production and sale of agrichemicals (e.g., fertilizers, pesticides, and fungicides) and seeds to farmers that support the growth of their crops.
• Agricultural engineering : development, testing, and implementation of new agriculture tools and machinery to improve the process for farmers.
• Biofuel manufacturing : the production of energy from biomass.
• Crop production : the process of growing and harvesting a variety of crops such as fruits, vegetables, and grains.

In addition, the company overview needs to provide information about the business history.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include reaching X number of harvests per year, the number of customers served, or reaching $X amount in revenue.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

In your industry or market analysis, you need to provide an overview of the agricultural industry. While this may seem unnecessary, it serves multiple purposes.

First, researching the agricultural industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies industry trends.

The third reason 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 this section:

• How big is the agricultural industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your agricultural business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of agricultural business you operate. Clearly, schools would respond to different marketing promotions than corporations, for example.

Try to break out your target market into segments in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target audience. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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With Growthink’s Ultimate 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 farms and agricultural producers.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of farmers, wholesalers, and distributors.

For each such competitor, provide an overview of their business 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:

• What types of customers do they serve?
• What type of agricultural business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

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:

• Will you make it easier for your customers to engage with you?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

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 an agriculture business, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of agricultural company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you produce fruit, soy, or vegetable products?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your agricultural company. Document where your company is situated and mention how the site will impact your success. For example, is your agricultural business located on a small or large farm near your customer base? And, will you operate one or multiple locations? Discuss how your site might be the ideal location for your customers.

Promotions : The final part is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Attend farmers markets
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

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, including scheduling employees, tracking inventory, accepting orders and payments, and meeting with customers.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to reach your Xth harvest, or when you hope to generate $X in revenue. It could also be when you expect to expand your farm business to a new region.

To demonstrate your potential to succeed, 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 managing agricultural businesses. 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 as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an agriculture business, or owning their own farm.

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 revenue 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, how many pounds of each crop do you plan to yield each season? And what is your sales strategy to 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

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your farm business, this 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 lender writes you a check for $50,000, 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 ensure 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.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a farm business:

• Cost of farm equipment and supplies
• Operating expenses
• Payroll or salaries paid to staff
• Business insurance
• Other start-up costs (if you’re a new business) like legal expenses, permits, computer software, and equipment

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 farm’s location lease or a list of agricultural equipment and machinery used on your farm.  

Free Business Plan Template for a Farm or Agriculture Business

You can download our farm business plan PDF template here.  

Agriculture Business Plan Summary

Putting together a business plan for your agriculture business will improve your company’s chances of success. The process of developing your plan will help you better understand your target market, your competition, and your customers. You will also gain a marketing plan to better attract and serve customers, an operations plan to focus your efforts, and financial projections that give you goals to strive for and keep your company focused.

Growthink’s Ultimate Business Plan Template allows you to quickly and easily write your business plan.  

Additional Resources for Starting an Agriculture Business

• How To Start a Farm
• Sample Farm Business Plan
• Starting a New Agricultural Business
• Small and Mid-Sized Farmer Resources
• Starting a Sustainable Agriculture Business
• Beginning Farmers and Ranchers Loans
• Business Resources for Those Starting to Farm or for an Existing Farm

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s business plan professional services can help you create a winning business.  

Other Helpful Business Plan Articles & Templates

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Starting a Small Farm: A Complete Beginner’s Guide

Starting a small farm can be a challenging and rewarding experience. As someone who has started their own small farm, I can tell you it takes a lot of hard work and dedication.

Still, it is also incredibly fulfilling to see your crops grow and your animals thrive. ,,

Whether you’re looking to start a small farm for personal consumption or to sell your products at local markets, there are a few key steps you’ll need to take to get started.

The first step in starting a small farm is to identify your niche. What do you want to grow or raise? Are you interested in sustainable agriculture, organic farming, or specialty crops?

Once you’ve identified your niche, you’ll need to find suitable land to start your farm.

This can be challenging, especially if you’re on a tight budget. Still, various resources are available to help you find affordable land.

Once you’ve secured your land, you’ll need to develop a business plan and figure out how you’ll finance your farm. This may involve applying for grants or loans or finding investors interested in supporting your vision.

You’ll also need to consider marketing your products and building relationships with local consumers and businesses. With the right plan and hard work, starting a small farm can be fulfilling and profitable.

Assessing Your Goals and Resources

Defining Your Goals

Before starting a small farm, it is essential to define your goals. Ask yourself what you want to achieve by starting a farm. Do you want to grow crops, raise animals, or both?

Are you looking to make a profit or just have a self-sustaining homestead? Do you want to sell your products locally or nationally?

Defining your goals will help you determine the size and scope of your farm, what resources you will need, and what steps you need to take to achieve your goals.

Assessing Your Resources

Assessing your resources is also an important step in starting a small farm. You need to determine what resources you have available to you, such as land, water, equipment, and capital.

Start by evaluating your land. Do you own land or will you need to lease or purchase it? Is the land suitable for farming, or will you need to make improvements? Consider the soil quality, drainage, and access to water.

Next, evaluate your equipment needs. Do you have the necessary tools and machinery to operate a farm? If not, what equipment will you need to purchase or lease?

Finally, assess your financial resources. Starting a small farm can be expensive, so it is important to determine how much capital you have available and how you will finance your farm.

Consider applying for grants or loans from organizations like the USDA or local banks.

READ ALSO: How Farmers Can Earn Money From YouTube (Complete Guide)

Choosing a Farming Method

Conventional Farming

When it comes to conventional farming, the focus is on maximizing yield and minimizing costs. This method relies heavily on synthetic fertilizers, pesticides, and herbicides to control pests and maximize crop yields.

Conventional farmers also use genetically modified seeds engineered to resist pests and diseases.

While this method can be effective in producing high yields, it can also negatively impact the environment and human health.

Organic Farming

Organic farming is a method that relies on natural processes to cultivate crops and raise livestock. This method avoids the use of synthetic fertilizers, pesticides, and herbicides and instead focuses on building healthy soil through the use of compost and other organic matter.

Organic farmers also avoid using genetically modified seeds and instead rely on natural methods to control pests and diseases.

While organic farming can be more labor-intensive and may result in lower yields, it has many benefits for the environment and human health.

Permaculture

Permaculture is a method of farming that focuses on designing sustainable ecosystems that mimic natural systems.

This method involves using a variety of plants and animals that work together to create a self-sustaining ecosystem.

Permaculture farmers focus on building healthy soil through the use of compost and other organic matter, and they avoid the use of synthetic fertilizers, pesticides, and herbicides.

This method can be highly effective in creating a sustainable and resilient farm ecosystem. When choosing a farming method, it’s essential to consider your goals and values as a farmer.

Conventional farming may be a good choice if you’re looking to maximize yields and minimize costs, but it can negatively impact the environment and human health.

Organic farming may be a better choice if you’re looking to build healthy soil and cultivate crops in a way that is sustainable and environmentally friendly.

Permaculture may be the best choice if you’re looking to create a self-sustaining ecosystem that mimics natural systems.

Ultimately, the choice of farming method will depend on your goals, values, and resources as a farmer.

READ NEXT: Farm Insurance vs. Homeowners Insurance: A Quick Comparison Guide

Selecting Your Farm Site

When starting a small farm, choosing the right location is crucial to success. Here are some factors to consider when selecting your farm site:

Climate and Soil

The climate and soil of your farm site will determine which crops and livestock you can raise. Research the average temperature, rainfall, and growing season length of your area.

You can also test your soil to determine its pH level, nutrient content, and texture. This information will help you decide which crops will thrive on your farm.

Water Resources

Access to water is essential for any farm. Look for a site with a reliable water source, such as a well or a nearby stream.

You should also consider the quality of the water, as it can affect the health of your crops and livestock. If you plan to irrigate your crops, make sure your site has the necessary infrastructure in place.

Access to Markets and Customers

Consider the proximity of your farm site to potential markets and customers. If you plan to sell your products at farmers’ markets or to local restaurants, you’ll want to be within driving distance.

You should also research the demand for your products in your area to ensure a viable market for your farm.

By taking these factors into account, you can select a farm site that will set you up for success in the long run.

RELATED: Is Farm Insurance Necessary? Here Are The Answers!

Planning Your Farm

Developing a Business Plan

To start a small farm, it’s crucial to have a clear idea of what you want to achieve and how you plan to achieve it. Developing a business plan is an essential step in this process.

A business plan is a written document that outlines your goals, strategies, and financial projections for your farm. It can help you secure funding, attract investors, and make informed decisions about your farm’s future.

When developing a business plan, consider the following questions: What crops or livestock will you produce?

Who is your target market? How will you market your products? What are your start-up costs and ongoing expenses? What are your projected revenues and profits?

Creating a Farm Layout

Creating a farm layout is another important step in planning your farm. A farm layout is a map or diagram that shows the location of buildings, fields, and other features on your farm.

It can help you optimize your use of space, improve efficiency, and reduce costs. When creating a farm layout, consider the following factors: What is the size and shape of your land? What is the topography and soil type?

What are the climate and weather patterns in your region? What is the water source and availability? What are the zoning and land use regulations in your area?

Choosing Crops and Livestock

Choosing the right crops and livestock for your farm is crucial to success. You need to consider factors such as market demand, climate suitability, and profitability.

Here are some tips to help you choose the right crops and livestock for your farm:

• Research market demand and trends for different crops and livestock in your area.
• Consider your climate and soil type when choosing crops. Choose crops and livestock that are well-suited to your level of experience and resources.
• Consider the profitability of different crops and livestock, including the cost of production and potential revenue. By developing a business plan, creating a farm layout, and choosing the right crops and livestock, you can set yourself up for success when starting a small farm.

READ NEXT: The Key to Safe Towing: Understanding Trailer Tongue Weight

Financing Your Farm

Finding Funding Sources

As a small farmer, it can be challenging to find funding sources for your farm. However, there are several options available to you.

The USDA offers various programs and services to help farmers get started or grow their operations, including farm loans, crop insurance, conservation programs, and disaster assistance.

Additionally, there are private lenders, grants, and crowdfunding platforms that you can explore. When researching funding sources, it’s essential to consider the eligibility requirements, interest rates, repayment terms, and any other fees associated with the loan or grant.

It’s also crucial to have a solid business plan to demonstrate to lenders or grant providers that you have a clear vision for your farm’s success.

Applying for Loans and Grants

Once you’ve identified potential funding sources, it’s time to start the application process. Applying for loans and grants can be a time-consuming and challenging process, but it’s essential to be thorough and accurate in your application to increase your chances of approval.

When applying for loans, you’ll need to provide financial statements, tax returns, and other documentation to demonstrate your ability to repay the loan.

You must also provide a detailed business plan outlining your farm’s goals, objectives, and financial projections.

When applying for grants, you’ll need to provide detailed information about your farm and explain how the grant will help you achieve your goals.

You may also need to provide financial statements, tax returns, and other documentation to demonstrate your eligibility for the grant.

In conclusion, finding funding sources and applying for loans and grants can be a challenging but necessary process for small farmers.

By researching your options and being thorough in your application, you can increase your chances of securing the funding you need to start or grow your farm.

Managing Your Farm

One of the most important aspects of running a successful farm is managing it effectively. This involves managing your finances, marketing your products, and managing your land and livestock. In this section, I will discuss each of these areas in more detail.

Managing Your Finances

Managing your finances is crucial to the success of your farm. You need to keep track of your income and expenses and ensure you stay within your budget.

This can be done using financial software or by hiring an accountant.

It is also important to have a solid business plan in place. This will help you stay on track and make informed decisions about your farm. Your business plan should include your goals, marketing strategy, and financial projections.

Marketing Your Products

Marketing your products is another key aspect of running a successful farm. You need to identify your target market and develop a marketing strategy that will reach them.

This can include advertising, social media, and attending farmers’ markets and other local events.

You should also consider offering CSA (Community Supported Agriculture) shares. This is a great way to build a loyal customer base and secure a steady source of income.

Managing Your Land and Livestock

Managing your land and livestock is essential to the success of your farm. You need to ensure that your land is being used efficiently and that your livestock is healthy and well-cared for.

This involves regular maintenance and upkeep of your farm, including fertilizing, planting, and harvesting. You should also have a plan in place for managing pests and diseases.

When it comes to livestock, it is important to provide them with proper nutrition, shelter, and medical care. You should also have a breeding plan in place to ensure the sustainability of your herd or flock.

Jack is the owner, chief editor, and senior writer of this website.

Machinery, engines, and farming have always been a passion of his since he was a young boy. Growing up on a small farm in rural America, he learned the value of hard work and dedication from an early age.

After completing his degree in Engineering, he decided to follow his dream and became a farmer in 2009.

Since then, he has gained a wealth of knowledge and experience in the field. He has grown a variety of crops, tended to farm animals, and worked with all sorts of farming machinery. Continue reading…

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How to Build a Profitable Farm Business

Posted on January 23, 2019 by Taylor in Beginning Farmers , Business , Farming Practices , Farming Resources , Financing , Management , Marketing , Planning , Small Farms // 19 Comments

Here are Some Tips on How to Build a Profitable Farm Business

In this day and age, it’s often difficult to build a sustainable business from farming. Those that do, however, understand that there’s far more to operating a farm than simply preparing the land, planting seedlings, harvesting, and taking the produce to the market. These people run their farm as a business and make decisions based on viability and their ability to turn a profit. Here are some tips for making  your farm more profitable:

1. Business Planning

A well thought out business plan is central to any new enterprise, and farms are no exception. The business planning process helps to understand who we are, what we want to do, the steps we need to take in order to get there, and the tools we need to engage in that process. A business plan is like a road map to farm success, and is essential for anyone who wants to build a profitable farm business.

Business plans can also be essential for securing the necessary financing to fund farmland, farm infrastructure, and machinery costs. Lenders often ask to see a business plan before even considering a loan application.

2. Market Research

One common mistake some farmers make is planting crops without first conducting adequate market research . They simply assume there will always be a market for their produce. Others go with what they see their neighbors doing. They plant the same crops as those around them because they believe that’s what’s going to sell.

The problem with such a move is that the market becomes saturated with one type of product, forcing farmers to compete by lowering their prices. If you want to succeed in farming, you need to find products that you can sell easily for the price you need to be profitable.

Building relationships with customers before planning your crop is critically important. Likewise, keeping a record of what does and doesn’t sell, and understanding the profitability of each crop are critical for anyone who wants to build a profitable farm business.

3. Choosing the Right Crop

There are many factors to consider when choosing a cropping plan for your farm. Some of these are biological, some are ecological, and some have to do with the knowledge and equipment required for successful production.

Many small farmers start with fast growing annual plants and then scale up to more complex perennial systems. Understanding what grows well in your climate and soil is essential, and can often involve a process of trial and error. Your marketing strategy will also affect the crop choices you make.

Using enterprise budgets to understand the profitability of each crop you grow can be an invaluable tool in helping to choose the crops that are the best fit for your farm. Enterprise budgeting is also extremely important for the business planning process, and can help you to secure the capital you need to build a profitable farm business.

4. Start Small

Land and machinery represent large upfront costs that can be daunting and difficult to justify. Often, loans or financing are required to put up the capital before profits start coming in.

If you don’t have the liquid cash, make sure to consult a financial advisor to help understand a realistic loan amount that will not drown you in debt. Many successful beginning farmers try to avoid debt as much as possible in the years before their farm becomes profitable.

Starting small and scaling up is not often the impulse for new farmers, but it can be extremely useful in helping to avoid big mistakes. Pilot projects help us to understand what we are good at, what we need to avoid, and what we need to learn before we go big.

5. Diversification

Just like a stock portfolio, it is often helpful to diversify the type of crops that you grow on your farm. Diversification is especially important should your main crop require time to mature.

Planting a variety of crops is like an insurance plan that hedges against catastrophic failure. If one crop us unsuccessful, there are likely to be many others that are successful. This can also be a way to find out what you are good at growing, what you like to grow, which crops are easiest to market, and which crops are the most profitable.

6. Documentation

Good documentation is the key to understanding what is and isn’t working for you, and improving your operation year after year. You’ll need to keep a record of all of your production practices so that you can avoid making the same mistakes over and over again. Farming is complicated and tasks shift constantly, so don’t make the mistake of assume that you will always remember in the future what you have done in the past.

Financial documentation of revenues and expenses is also critical to understanding how to build farm profitability. Documenting your transactions will help you find inefficiencies that cut into your profit margin.

7. Knowledge is Power

In order to build a profitable farm business, you need to be curious and have the desire to learn more about your industry and take the necessary steps to do so. Conferences, newsletters, books, magazines , and other resources can be invaluable tools for helping you to build your knowledge and keep up with the latest research and techniques.

Building relationships with other farmers is also useful. Learning from those who have already been successful in doing what you want to do tends to be the best way to avoid mistakes and find success in this business.

• Learn more about starting a new farm business at   https://www.beginningfarmers.org/planning-a-new-farm/

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19 comments on how to build a profitable farm business.

I am interesting in starting a new farming business

I would like to get any help about vegetable farms production

I am a retired man contemplating mixed farming,initially as a hobby,which should initially cover a one acre,and hopefully grow to 20 acres at my disposal. As I am contemplating Permaculture setting,what should I put in consideration?

Tunde, Are you familiar with the permaculture principles as articulated by David Holmgren? https://permacultureprinciples.com/principles/ These might be useful to keep in mind. One important thing to keep in mind is that you need to be profitable to be sustainable.

I am very much inspired and planning to start a farm business

Thank you for that. I am yet to do my Permaculture Design Course. I hope to take it 1 acre at a time. Are there some readable or reference books and/or videos that you can recommend? Tunde.

Yes, I love Edible Forest Gardens by Jacke and Toensmeier. It comes in a two volume set. Very detailed and informative. TR

I am engineer am doing chilli farming about 2acre but no marcketing wt do next

Where are you located? I am really only familiar with options in the U.S. But we do have a marketing page at https://www.beginningfarmers.org/marketing-resources/

Im internested in farming garlic and ginger i need more info on that area

I am inspired yet slightly intimidated by the idea of starting a farm.

Start small and scale up. You don’t have to start a huge farm right away. You can start growing and selling things on a small scale on the side and find out if you are good at it and if you like it.

I am interested in farming

Great! You have come to the right place.

I HAVE GROWN INTEREST IN STARING A FARM AND WOULD LOVEA PERSON WHO CAN ASSIST ME STEP BY STEP.

AS I AM CLUELESS ABOUT IT.

Great and right in the money. I discover this site an is very helpful. I’m doing farming in Puerto Rico where we are flooding of crops import so you should be smart,fast and always looking for opportunity.Congrat for the task all of you are doing.

Thanks Ignacio, glad the site has been helpful to you!

What about resources for people needing to buy a small 1 acre farm plots. Been a dream of mine for most of my life. Im 37 and it’s time to start farming

Phillip, Check out the Starting a Farm page at https://www.beginningfarmers.org/planning-a-new-farm/ . I farm on just a couple of acres myself.

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Farm Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Farm Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Farm Business Plan

You’ve come to the right place to create your farm business plan.

We have helped over 5,000 entrepreneurs and business owners create business plans and many have used them to start or grow their farms.

Below are links to each section of a small farm business plan template. It can be used to create a vegetable farm business plan, fruit farm business plan, agriculture farm business plans or many other types of rural businesses.

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 provide a detailed description of your agriculture business history, its products and other services, and business structure.
• Industry Analysis – In the Industry Analysis, you will provide an in-depth analysis of the industry in which your farm operates including industry trends, market size and growth, and government regulations.
• Customer Analysis – In the Customer Analysis, you will identify your target market and provide insights into their purchasing habits. You will also create customer segments and discuss your marketing strategy for reaching them.
• Competitive Analysis – In the Competitive Analysis, you will identify your direct competition and provide insights into their strengths and weaknesses. You will also discuss your competitive advantage and how you plan to stay ahead of the competition.
• Marketing Plan – The Marketing Plan includes a discussion of your marketing strategy and tactics along with your pricing strategy. You will also provide a budget for your marketing activities including attending farmers’ markets or advertising a farm stand.
• Operations Plan – In the Operations Plan, you will discuss your farm’s day-to-day operations. You will also provide your business goals that you plan to achieve and a budget for your operating expenses.
• Management Team – In this section, you will provide a brief overview of the farm owners and farm management team, their experience in the agricultural industry, and the organizational chart.
• Financial Plan – In this section, you will provide three-year financial statements for your farm. This will include your income statements, projected balance sheets, and cash flow statements.

Next Section: Executive Summary >

Farm Business Plan FAQs

What is a farm business plan.

A farm business plan is a plan to start and/or grow your farm business. Among other things, a good agriculture farm business plan outlines your business concept, identifies your target audience , presents your marketing plan and details your financial projections.

You can  easily complete your farm business plan using our Farm Business Plan Template here .

What Are the Main Types of Farms?

There are many types of farms. Some have commercial farms that produce crops and agricultural products for sale. Others have cooperative farms owned by people who pool their resources together and share profits among themselves. There are also vegetable farms, dairy, micro, organic, poultry, subsistence, or urban farms.

What Are the Main Sources of Revenues and Expenses for a Farm?

The primary source of revenue for a farm is the sale of its farmed goods such as rice, corn, milk, beef, chicken, depending on the kind of farm a business is.

Some key expenses for a farm are labor expenses, production costs like irrigation, fertilizer, water, and machinery maintenance.

How Do You Get Funding for Your Agriculture Business?

Farm business plans often receive funding from bank loans. Financing is also typically available from grants offered by local and state governments. Personal savings, credit card financing and angel investors are other funding options. This is true for starting any agricultural business.

What are the Steps To Start a Farm Business?

Starting a farming business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

• Develop An Agricultural Business Plan - The first step in starting a business is to create a detailed agriculture business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  It should also include your business goals and mission statement. You can quickly complete your farm business plan using our Farm Business Plan Template here .
• Choose Your Legal Structure - It's important to select an appropriate legal entity for your farm business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your farm business is in compliance with local laws.
• Register Your Agriculture Business - Once you have chosen a legal structure, the next step is to register your farm business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 
• Identify Financing Options - It’s likely that you’ll need some capital to start your farm business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 
• Choose a Business Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 
• Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 
• Acquire Necessary Farm Equipment & Supplies - In order to start your agricultural business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 
• Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your farm business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful farm business and agribusiness planning:

• How to Start a Farm Business

Where Can I Get a Farm Business Plan PDF?

You can download our free farm business plan template PDF here . This is a good farm business plan template you can use in PDF format.

Horizon Farm Credit

How to write a farm business plan.

Getting a loan for your agricultural business — no matter the size or scope — means asking the lender to have faith in your ability to manage a full-fledged operation and your finances in a healthy way. The best way to prove that is by coming prepared with a farm business plan proposal.

No pressure, right? While it may seem daunting and scary, we’ve broken down the steps to writing the perfect business plan below. Read on to learn more and check out the end of this guide for additional resources to help you craft a top-notch business plan.

Creating a Farm Business Plan

You can set yourself up for success — both in business and with your lender — by having a detailed business plan for your farming operation. It doesn't need to be pretty, but you do have to prove that you're willing to put the time and effort into creating a well thought out course of action for your operation.

Are you already operating but don't have a plan? That's okay! It's never too late to put extra thought into how your operation will continue to fulfill your livelihood.

What to Include in your Agricultural Business Plan

Whether you're a new farmer looking for a loan , or a seasoned grower that needs funding for a new agribusiness , there are a few things that you want to make sure you include in your agricultural business plan.

Title/ Cover Page

Keep it simple on the cover page. The most important information here is accurate contact information so your lender can get in touch with you easily. Include your mailing address, phone, email, and fax if you have it.

Business Overview

Although it will be the first page of your farm plan, this will be the last section that you write, since it acts as a summary of all your key points in your plan. Remember that this is the first section that your lender will read , so they’ll expect to see all of the highlights that make approving this loan a good financial decision for both you and the lending organization. Include points about expansion plans, market opportunities, financial trends and projections in a short and easy to read summary. Treat this section as if you're telling a stranger about your operation and you want to give them an overview of what you do and what sets you apart from other businesses in your industry.

What are your key business objectives? In this part of your farming business plan, you'll want to describe your products and services your business will offer. 

Start by describing how your business will operate and include what makes your business unique. Provide details regarding the size of the operation, location, and note any expansion plans.     

Who is your target audience? Who will benefit from your products or services produced from your farm business?   

Think about the desire and drive behind why you want to pursue this business venture. It is common to connect your business why with your mission statement.  

If applying for a loan:

If you’re starting a new operation, clearly state how much money you are applying for, how you plan to use it and how it will make your business more profitable, thereby ensuring repayment. 

Creating your own farm business plan will take time and effort. As you complete sections, send them to partners or colleagues to review as you go along. If you have any questions on farm business plan examples or more specifically what lenders are looking for, give us a call. 

Business Management and Organization

Business history:.

How long have you been in operation? Are you starting from scratch or did the business have previous owners?

Strengths and Weaknesses:

Describe the strengths and weaknesses of your business.

Implementation Timeline:

What is your plan of action? What specific tasks need to be completed in order to reach your business goals?   

Goals are often broken into two categories — short term and long term. Short term goals are focused on actions likely to be achieved in 1-3 years, and long term goals are likely accomplished in 3-10 years, or beyond.  

Risk Management:

What risk management practices do you have in place? Think about your business contingency plan, insurance coverage , regulatory requirements, and your market and production diversification.   

For some people, this can be the most fun or the most challenging part of creating your small farm business plan. Before thinking about your marketing tactics, think about the data you need to make informed business decisions .  

Market Share:

Researching your target market is key to understanding what opportunities are available in the marketplace. Is there current market share to gain? How will you remain competitive as a farm business? Who are your biggest competitors in the marketplace? Do you anticipate any obstacles?    

How will your farm business generate farm income? Think about how your product will be sold and priced? What is your projected or estimated income? How are you going to gain commitments and contracts to sell your products? 

What marketing strategy will your business use to reach your business goals? As a small business, will you utilize tools like social media, email marketing, and/or ecommerce to maximize your marketing efforts to connect with your target audience? Check out our blog on how to create a marketing plan for your farm and download a free template!

Arguably, the most important part of your agricultural business plan is how you will finance your operation. In this section, make sure to take time to complete your balance sheet. The balance sheet will identify your cash-basis income trend, breakeven analysis, and sensitivity analysis. This statement is a summary of what you own vs. what you owe. 

The income and expenses statement shows your business’ profit and loss over a period of time, determined by taking all the revenue and subtracting all expenses. This will show the profitability of your operation. 

Business Advisors

Business advisors are a group of professionals who serve as subject matter experts to enhance productivity, business, and on-farm profitability, while offering technical insight for your farm operations. Surrounding yourself with people who know how to support your farming venture will help to support and find your long-term business success. You will want to organize your team that might consist of an attorney, accountant, lender, insurance provider, and consultants in the last section of the business plan.  Did you know Farm Credit offers services for Accounting, Records, Payroll and Taxes, Appraisal, Business Consulting, Farm Succession Planning, and more? Give us a call at 888.339.3334 or view our full list of services here .

Congratulations! You’ve made it through each section of how to write your business plan! If you’re interested in more coaching on your business plan, check out the resources below or give us a call to connect with a local lender — we're happy to help. 

Additional Resources to Help You Write Your Farm Business Plan

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Business Plan Tools for Producers

A business plan is like a road map. It helps you define your ag operation’s core objectives and build a detailed plan for how to achieve them. 

Free business plan bundle for farmers

We want to help make writing your business plan easier. The FCC business plan bundle was designed specifically for farm operations and anyone involved in Canadian agriculture.

The bundle includes:

Business plan guide with instructions and resources

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Sample business plan

Why you need a business plan

There's a lot involved in writing a business plan, but it’s a worthwhile investment. It can help secure financing from a lender, attract investment or act as an internal guide, keeping your management team focused on the same goals.

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Analyzing cash flow drivers

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• Best for customer satisfaction
• Best for older adults
• Best for long-term care
• Best for high returns
• Best for agent support
• Best for term life
• How we review life insurance companies

Best Life Insurance of May 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Life insurance is as complicated as the policyholders and beneficiaries who use it. That means there's no single "best" life insurance company. Instead, you can find the best option based on what you want or what you prioritize.

Best life insurance companies of 2024

While there is no such thing as the objective best life insurance policy, you will be able to find the best insurance policy for your specific needs. Here are our picks for the best life insurance companies, whether you want to use your life insurance policy to build wealth through cash value or you're just looking for a term life insurance policy .

Best life insurance for customer satisfaction

State farm life insurance.

State Farm Life Insurance gets the best life insurance ranking in J.D Power's Individual Life Insurance Study, with a score of 843/1,000. The company is also ranked A++ with AM Best for its financial stability with term, universal, and whole life insurance options. 

All State Farm policies have to be purchased through a State Farm agent. Your agent can help you bundle and save or buy one policy. State Farm is also among the companies offering "survivorship universal life insurance ," which means the policy covers two people, and it kicks in after the second person dies. Couples looking to maximize their death benefit for beneficiaries with one premium payment each month may enjoy lower overall costs.

State Farm agents can run quotes and compare options to find the right plans for each applicant. The range of options, discounts, and familiar name all contribute to the popularity of State Farm's life insurance.

Read our State Farm Life Insurance review here.

Best life insurance for older adults

Prudential vul protector life insurance.

Prudential Life Insurance is available in all states except New York. New York residents can buy the Pruco Life of New Jersey VUL Protector plan. This plan allows buyers to pull money out of their plan to pay for nursing home expenses. Cash value policy premiums are fixed, so you won't have to worry about extra costs later on. Internal costs are low, which minimizes risk. Due to age, many older adults want a safe investment option for their money. Prudential VUL Protector invests to avoid loss. That also means you're not as likely to see big increases in your available funds outside of what you deposit.

Read our Prudential Life Insurance review here.

Best life insurance for long-term care

Columbus life insurance.

Columbus Life offers a wide range of riders to customize your policy with affordable premiums. The company also allows you to convert term policies to whole life insurance policies until the end of your term (generally around age 70). For this and many other reasons, customer satisfaction is high.

When using living health benefits (otherwise known as accelerated death benefits), buyers are allowed to pull money from policies early to pay for medical bills, living costs, etc. under certain circumstances. Most companies use a discounted death benefit, which reduces your final payout using two models. Columbus uses the lien method, which makes it easier to calculate the financial impact of pulling money out early.

Best life insurance for high returns on income

Allianz life insurance.

Allianz Life plans are geared towards high-income adults looking for more tax-free income. Allianz offers a 40% multiplier bonus with a 1% annual assets charge. In short, the professionals managing your investments take 10%. Overall, your investments would pull in an extra 14%-1% asset charge. This means you end up with 3% more than what you deposit every year your life policy is active. This plan offers strong returns when using a life policy to supplement your retirement savings. Allianz also offers specialized plans to grow your income by as much as 20% according to some estimates.

Of note: Allianz also offers plans for foreign nationals, including those with H-1B visas.

Best life insurance for agents

New york life insurance.

New York Life Insurance agents go through extensive training before they ever hit the sales floor. What does this get you? Policies vary widely, and New York Life offers both large and small payouts. Some policies have significant penalties for early withdrawal, but taking a loan offers more options. Whatever your questions, New York Life agents are trained to offer comprehensive support giving you accurate information about its policies every time. The company comes in at position eight in J.D. Power's latest life insurance customer satisfaction study.

Read our New York Life Insurance review here.

Best life insurance for term life

North american life insurance.

North American Company offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more. The company allows one conversion on a 20-year policy at 15 years or 70 years old (whichever is earlier). The conversion cannot happen later than the five-year marker regardless of which policy you choose or the length. North American Company also offers a term policy with a lower premium renewable up to the age of 95 for qualifying insureds.

Summary of the best life insurance companies

• Best for customer satisfaction:   State Farm Life Insurance
• Best for older adults:   Prudential Life Insurance
• Best for agent support:   New York Life Insurance
• Best for long-term care:   Columbus Life
• Best for high returns:   Allianz Life
• Best for term life:   North American Company

How to pick the best life insurance policy for you

Finding the right fit in life insurance starts with finding a trusted insurance agent. Because there are so many state regulations, shopping for homeowners or auto insurance can be easily done online. Life insurance is not required. So it's a voluntary purchase. Many buyers don't know what they need or when they need it. Before making your selection, consider a few things:

Some companies will sell you a policy for your child as soon as they're born. While this may seem morbid, early sign-up means lower rates for a policy your child could enjoy in the future. Regardless, early sign-up equates to more policy for lower premiums and a higher likelihood of acceptance. At 20, you may be healthier and be able to pay into the policy for a longer period compared to when you're 50 with more age-related conditions.

As a general rule, never agree to more than you can afford. For the average life insurance agent, their job is to sell you a large policy with a large commission. Consider not only how much you make now, but how likely your current income is to continue. If you work on a project basis and your project is scheduled to end in 12 months, you may want to reconsider a policy premium outside your monthly savings.

How much are you prepared to buy? Some people only want a small policy to cover funerals and other end-of-life expenses. Others build a life policy into their retirement plan. Whatever direction you're going, involving a financial planner could help you make the right decisions. Depending on the carrier, customers can also compare set limits with index universal life policies, which set no limit. These policies never expire, and the value builds over the entirety of your life.

Living Benefits

Life happens unexpectedly. You could be healthy one day and in the hospital the next. Many life policies offer living benefits. These allow you to draw a limited amount out of your policy to cover medical and other bills you cannot pay while sick.

Much like a 401(k), many life insurance policies have penalties for early withdrawal. No matter what policy you want, this question is critical to an informed decision. It's a question of how early you can withdraw and how much you'll lose from the total to have the money in 10 years instead of 30 or after death.

Some policies require insured parties to pay premiums for at least one year before any significant payout would be available. Suicide exclusions are common. Even with no medical exam policies, the company may still do a check for known conditions. An insurance company has to mitigate its risk.

Flexibility

Once you've been denied a life insurance policy, a mark goes on your record. No matter the reasons, other insurance companies may deny you coverage based on the first denial. So consider your whole situation and choose your policy carefully before you submit any applications. Some policies have greater flexibility if you lose your job or otherwise can't make payments. Others will lapse if you miss even one payment.

Payment Type

Even within whole life or term life insurance policies, customers have the option to choose guaranteed fixed or variable rates. Some have guaranteed payouts, but you'll need to ask your agent for details.

What is your intended use? Why are you shopping for a life insurance policy in the first place, and what are your goals? Many successful financial planners also have a background in life insurance. So while they may not be able to find you a specific life insurance policy, financial planners can help you set out a blueprint for your purchase.

Methodology: How we review life insurance companies

In life insurance, it's easy to get "sold a bill of goods." Many life insurance agents pass a state test to be thrown into the deep end. Agents sell the company product, but not all know the products. In this vein, we look at the products each company offers. We also look at agent training.

A good life insurance agent may not volunteer all facts upfront. But a company's agents should answer questions about its products accurately and in a way the average consumer can digest. Agents should be able to inform you about the long-term benefits and limitations. This will help customers find the right policy for their long-term plan.

We consider affordability, policy sizes available, and performance for a comprehensive assessment in our insurance rating methodology . If you can, we recommend also working with a financial advisor to make a plan for your future with life insurance.

Our Expert Panel for The Best Life Insurance Companies

To inform our choices for the best life insurance companies, we spoke with the following experts:

• Paul LaPiana , head of product at MassMutual
• Barbara Pietrangelo , CFP, CLU, and chair of the nonprofit Life Happens
• Wykeeta Peel , Corporate Vice President and Market Manager, African American Market Unit at New York Life

The Experts' Advice on Choosing The Best Life Insurance for You

How much life insurance coverage do you believe the average buyer should have.

Paul LaPiana, Head of Product at MassMutual

"There are different approaches to determining how much life insurance you need. One is the 'human life' approach, which estimates the current value of your future earning potential. Another is securing specific coverage to pay off debts such as a mortgage or provide for the education of children. A comprehensive protection plan should provide the right amount of coverage over the course of your working life and into retirement."

Barbara A. Pietrangelo, Chair of Life Happens

"There is no one-size-fits-all life insurance policy because everyone is different. One way to get a rough estimate is to multiply your income by 10 to 15; another is adding $100,00 to that amount, should you have a child and anticipate college education expenses.

Your best bet is to talk to a financial professional or use the Life Insurance Needs Calculator on LifeHappens.org to analyze what's right for you."

Wykeeta Peel, Corporate Vice President & Market Manager African American Market Unit at New York Life

"As you consider what policy best meets your needs, it can help to answer four key questions: First, how much death benefit do you need? Second, how long will you need that coverage? Third, what is your budget (or how much monthly premium can you afford to pay?), and finally, what is your investment risk tolerance?

To determine how much death benefit makes sense, it's helpful to think beyond using life insurance to cover funeral expenses and consider whether anyone is relying on the policy owner's income to maintain a lifestyle, pay rent or a mortgage, or fund a child's education and for how long.

There are various rules of thumb regarding the right amount of Life insurance coverage. Some tips can be found online, but they only provide an estimate and don't necessarily factor in an individual's specific needs. In my opinion, human guidance, powered by technology, is required. Basically, it comes down to how much money your loved ones would need to remain on firm financial ground if your earnings were no longer in the picture and that is different for everyone."

What is the biggest opportunity you see for improvement in the life insurance industry?

"Increased accessibility through digital and other channels as well as through underwriting enhancements. Increased tailoring of products and features. And an increased emphasis on health and wellness programs."

"Having enough qualified insurance professionals to walk potential buyers through the multiple benefits of life insurance will be pivotal to the growth of the industry. Education is a key factor here, as professional agents also need to be able to explain life insurance and its benefits in an easy, digestible way, especially when there are so many misconceptions about life insurance."

"The need for life insurance is greater than ever. In fact, a recent New York Life Wealth Watch survey found that 37% of adults have been thinking about life insurance more often these days – and half of adults report that financial products that provide protection (50%) and reliability (50%) are more important now compared to last year. This may be especially true for middle-market and Cultural Market families.

Our organizational structure of having Cultural Market agents embedded in the communities where we live and work allows us to understand the needs of diverse communities and develop solutions that resonate with them."

What advice would you give to buyers who are debating whether or not to buy life insurance?

"It is difficult to say with any certainty how healthy you will be years from now. That's why securing life insurance, and insuring your insurability, today, when you are the youngest you'll ever be again, and perhaps your healthiest is a wise decision."

"Do you love someone? If the answer is yes, then life insurance is certainly something you should consider. Many buy gifts and experiences to express their love, but haven't considered that life insurance is just another way to say I love you. Nothing says support like ensuring your family's financial security and peace of mind."

"If you have someone depending on your income, you should consider purchasing life insurance. A death benefit from a life insurance policy can replace income from the loss of a breadwinner, ensure a family can stay in their home, fund educational or retirement expenses, address debt and so much more.

A life insurance policy can also help you grow your family's wealth over time. Once the risk of an unexpected loss has been managed, you can begin to think more broadly about your family's financial future. Life insurance can enable your mindset to shift from death to growth."

What's the most important thing buyers should look for when choosing a life insurance agent/company to buy from?

"With life insurance, you are securing a future commitment that may be decades away. Research the company behind the policy to ensure it has high financial strength ratings, longevity, and an excellent track record of paying claims."

"When looking for an insurance agent or company, be sure to do your research. When comparing companies, be sure to remember that the policy features that fit you and your loved ones best is the most important factor. Don't automatically assume you should buy from the higher-rated company.

If the policy from the other company has more of what you're looking for, it might be the better choice. If you're unsure where to start, try the Life Happens Agent Locator to find an insurance professional in your area."

• "The insurers' track record: At its core, life insurance is protection - a hedge against the unexpected - and you are paying premiums in exchange for the promise that the insurer will be there when you need them, so the financial strength and track record of the company backing your policy is critical.
• Customer service: Are service professionals available by phone and digital channels? Is there is an online dashboard where you can manage your policy? Beyond ensuring assistance is available after you purchase a policy, it's also critical to ensure you have access to trusted advice and guidance before you buy.
• Flexibility in conversion: How easy is it to change? Life can be unpredictable and while term insurance can cover your loved ones through a critical period of time, you may decide that access to cash value is an important piece of your strategy.
• Accelerated online applications : Online applications are convenient but don't replace human guidance. Keep in mind that accelerated online applications may have a maximum coverage amount, meaning that you may not be able to get all the coverage you may need exclusively through an online process.
• A range of payment options: It's important to understand how often you're required to make premium payments and whether and how often you can change the frequency of payments."

Best life insurance FAQs

According to JD Power's 2023 life insurance study, State Farm is the highest-rated life insurance company when it comes to overall customer satisfaction. However, you still may want to shop around for quotes from various insurers if you're looking to purchase a new policy.

There isn't one best life insurance company, because the best option for you will depend on the type of policy you're looking for. It's best to work with a qualified insurance agent to help you find the best coverage. If you're deciding between multiple similar options, it's also worth consulting J.D. Power's life insurance customer satisfaction study . The latest study ranks State Farm as the top pick for individual life insurance, outpacing Nationwide by three points.

The best type of life insurance policy for you will differ from someone else's, as your policy should be tailored to your needs. The best policy for you will be affordable and will offer the benefits best suited to your situation. For example, some policies are only meant to cover end-of-life expenses such as burial and funeral arrangements, whereas others include living benefits like a cash value insurance plan , which you can borrow against during your lifetime.

Some life insurance policies are advertised as "no medical exam." This doesn't mean the insurer won't ask you about known conditions or look at medical records. Policies with no medical exam also tend to offer lower benefits with higher premiums. Most companies have a network of medical examiners, some of whom can come to your home. You can find our guide on the best no exam life insurance here.

Each situation is different and requires a knowledgeable life insurance agent to assess your best options. Bring all your questions and the coverage you're looking for to an insurance agent near you to explore your options.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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Agriculture Farm Business Plan

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Botanical Bounty

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

The health and vitamin industry is growing at a very quick pace. Customers want to have natural and plant alternatives to medication. They are starting to believe the body is a temple. They don’t want to pollute with chemicals. The industry needs botanical plants that are ready to process as well as give to nurseries for the “do it yourselfers”.

Botanical Bounty is working hard to become a leading producer of botanical plants for the natural supplement industry as well as plant nurseries.

Botanical Bounty has three distinct customers: supplement companies, processors of botanicals for supplement companies, and nurseries that resell the plants.

The first two customers purchase the plants for use in their products which they ultimately sell to the end consumer.

The market for natural supplements is quite exciting. Surveys show that over 158 million consumers (over 55% of U.S. population) use dietary supplements. An estimated 115.3 million consumers buy vitamins and minerals for themselves, and 55.8 million purchase them for other members of their family, including children. Consumer surveys consistently find that nearly half of all Americans now use herbs – a statistic that is particularly remarkable when we realize that today’s herbal products industry is just over a quarter century old.`

Competition

Competition takes two forms, farms similar in size and production capacity to Botanical Bounty and megafarms. The similarly sized farms range in size from 5-30 acres. The number of different herbs grown varies from a handful to upwards of 50. The choice of plants grown is based on owner preference as well as location and the ability of the local growing conditions to support the different plants.

It is Botanical Bounty’s mission to become the leading provider of botanical perennials to the health/vitamin industry. This will be accomplished by providing quality plants at fair prices while exceeding customer’s expectations.

Expectations

To finance our growth and full-time production, we need to purchase $35,000 worth of new equipment as long-term assets taking that total up to $53,800. To that end, we are seeking a $100,000 10-year loan. Sales forecasts conservatively indicate that $190,000 revenue will be generated in year two, rising to over 400,000 by year 4.

Financial Highlights by Year

Financing needed.

We need to have a $100,000 10 year loan. We will use our $35,000 of cash from our current operations.

Problem & Solution

Problem worth solving.

There is a growing trend towards plant cures to common diseases or health issues.Consumers care about getting a natural supplement to make them feel better and take care of their body. Because of this the natural market has grown exponentially in the last few years. The market needs high quality botanicals to keep up  with demand. 

Our Solution

Botanical Bounty has identified three keys that will be instrumental in their success. The first is the implementation of strict financial controls. By having the proper controls, production efficiency will be maximized. The second key will be the never ending pursuit for the industry’s highest concentration levels of botanical ingredients in each plant. The third key is the recognition and implementation of the philosophy that 100% customer satisfaction is required to ensure a profitable business. Profits are a by product of satisfying customers, not the other way around.

Target Market

Market size & segments.

Botanical Bounty has identified three different target market segments: 

Supplement Companies This customer group manufactures botanical supplements for their own label products. The companies purchase the plants and extract the active ingredients and transform them into sellable products for their own brand. There are a handful of large companies that operate in this market space. Ten years ago there were many different ones but through consolidation the industry has grown in size but decreased in the number of different players.

Processors These customers purchase the the plants, extract the botanicals and either sell the concentrated botanicals to the end producers or they themselves produce the supplement and sell the final product to other companies for their private label products. In essence they are the subcontractor for the supplement companies. These companies therefore are one layer within the manufacturing system and do not sell to the end consumer. They act as a supplier/processor for the retail brands.

Other Nurseries/Garden Centers This customer group purchases the plants which they in turn sell at retail to the individual end consumer. The typical consumer is a health conscious individual who is interested in either extracting the botanical from the plant immediately or growing the plant in their own garden for future use.

Current Alternatives

As mentioned previously, competition takes two forms, farms similar in size and production capacity to Botanical Bounty and megafarms. The similarly sized farms range in size from 5-30 acres. The number of different herbs grown varies from a handful to upwards of 50. The choice of plants grown is based on owner preference as well as location and the ability of the local growing conditions to support the different plants.

On the other end of spectrum is the megafarm. These farms have a similar range of species cultivated, however they differ greatly in production capacity. These farms are huge, typically not less than 100 acres, peaking at 300 acres. These growers however are few number.

The buying patterns of the different customers are typically based on these variables:

• Availability
• Ability to deliver consistently on long-term contracts
• Significant % of active ingredients
• Consistency

Our Advantages

Botanical Bounty has a dual competitive edge:

Healthy Plants The healthier the plant, the faster it will grow, the more botanicals that can be extracted from it. This means an increase in production efficiency due to a larger percentage of plants that are sellable. Other characteristics of healthy plants which are important on the production side is: lower pest counts, more established root structures, and high biomass.

High Concentration of Active Botanicals This is beneficial to the purchaser because they are buying the plants precisely for the active botanicals. High concentration levels are valuable to Botanical Bounty because they increase the amount of botanicals produced per plant or per acre, increasing the production capacity of a given amount of land, thereby increasing their return on investment and increasing the attractiveness of Botanical Bounty’s plants relative to the competition.

Keys to Success

Our keys to success are: 

• Strict financial controls.
• The never ending pursuit of the highest concentration of botanicals in every plant.
• Ensuring that all customer’s needs are met and they are satisfied with the purchased products.

Marketing & Sales

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Botanical Bounty’s sales strategy efforts will focus on identifying qualified leads and turning them into paying customers. The main sales effort that Botanical Bounty will undertake is the reinforcement of the fact that Botanical Bounty’s plants have the industry’s highest percentage of botanicals. This will be quite appealing to the buyers as this is exactly what they want, more botanicals per plant. In addition to selling the buyers on Botanical Bounty’s competitive edge of potent plants, there will be an emphasis on Botanical Bounty’s ability to perform on long-term contracts.

Botanical Bounty recognizes that the transactions should not be thought of as individual sales, but as long-term relationships. This is a reasonable assumption based on the fact that the customers are in the business of utilizing botanicals, that they will continually have the need for the botanicals, and that it is far less expensive to establish a relationship with one vendor than to continually have to find new vendors that can meet their needs.

Locations & Facilities

Botanical Bounty is a 10 acre farm that concentrates on the growing of botanical medicinals. Botanical Bounty has chosen five plant species that have significant market demand as well being well suited for growth in the Willamette River Valley. Botanical Bounty will feature: Echinacea – an immune system booster; Ginseng – a source of energy; St John’s Wort – for mild depression; Skullcap- for inflammation; and Ginger – a stomach soother.

Milestones & Metrics

Milestones table, key metrics.

Our key metrics are: 

• Sales, cost of sales, expenses, profits, and cash.
• Production cost of goods. We need to keep them low.
• Keep current on our competitors botanical concentration and prices.
• Measure the number of emails and phone calls.
• Measure the Facebook Page views and Twitter re-tweets. 
• Measure website searches and inquiries. 

Ownership & Structure

Botanical Bounty is an Oregon L.L.C. owned by David and Susan Nealon. The L.L.C. business formation has been chosen as a strategic way to shield the Nealons from personal liability.

Company History

Botanical Bounty has been in operation for two years. Initially it was started as a hobby where Susan could use her plant biology skills while covering some of the costs. The Nealon’s were able to achieve this lifestyle due to a windfall that David received as a result of exercised stock options. After the second year, the Nealon’s decided that although they had the money to live on for many years, it would be irresponsible to needlessly spend it so they got serious about the business and made a concerted effort to become profitable.

Botanical Bounty has chosen the Willamette River Valley as an ideal place to grow perennials. Botanical Bounty has 10 acres of land which they use for production. During several of the winter months, production is moved into their green house for propagation. Botanical Bounty employs a drip irrigation system for all of the plants.

Management Team

Botanical Bounty will be lead by the husband and wife team of David and Sue Nealon. David brings a wealth of business and project management skills to the company. While working at Yahoo!, David was responsible for the successful launch and market lead capture of Yahoo!s driving directions section. Utilizing these skills, David will be responsible for the business operations of the farm. Sue, with a background of plant biology will be the driving force of the operation, growing the highest active ingredient content plants in the country. Additionally, because of her wealth of knowledge, she will be the leader of the sales department.

Personnel Table

Financial plan investor-ready personnel plan .">, key assumptions.

Our key assumptions 

• Our market and customer base are growing and with them the opportunities for sales.   
• The area has wealthy households that can afford to spend money on non essential vitamins.   
• Our customers appreciate our dedication to high quality products and price controls.   
• We will be able to get the 100,000 dollar loan at 8 percent based on our past success and being able to put our property up as collateral. We are a safe investment. If unplanned expenses pop up we have people interested in investing.

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

We will be using the loan to purchase machines and to expand our farm and our personnel to grow the highest quality botanicals and process them so they can be turned into vitamins or other products that give the  customer a natural cure. 

Sources of Funds

We are leveraging our business to get an $100,000 10-year loan. We will also be using the cash on hand from our current business. 

Projected Profit & Loss

Projected balance sheet, projected cash flow statement.

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Blog Farming

https://defrafarming.blog.gov.uk/2024/05/10/changes-to-permitted-development-rights/

Changes to permitted development rights

We want to make it easier for farmers to strengthen their businesses. To that end, several changes to permitted development rights are coming into effect from 21 May.   

The changes are the result of a consultation undertaken by the Department for Levelling Up, Housing and Communities (DLUHC) between July and September last year.  

The consultation sought to understand where additional flexibility could support the agricultural sector. The views of all 977 respondents were considered.  

The order that followed, The Town and Country Planning Amendment Order (General Permitted Development, etc) 2024 , makes changes to 4 existing permitted development rights that allow for agricultural development and the use change of agricultural buildings.  

Permitted development rights are a national grant of planning permission. They provide flexibility and planning freedoms to businesses, local authorities, communities among others.

They support growth and incentivise different types of development by providing certainty and removing the need to spend time and money submitting a planning application.  

From 21 May, farmers will no longer be required to submit a planning application for specific types of development.

This includes converting agricultural buildings to a wider range of commercial uses, such as larger farm shops, buildings for agricultural training and sporting facilities.  

Use of these permitted development rights remain subject to their existing approvals by the local planning authority. This allows planning matters to be considered in consultation with the local community.

For example, to change agricultural buildings to homes and flexible commercial use, individuals must seek prior approval from the local planning authority for specific issues and risks including transport and flooding.

These prior approvals vary across permitted development rights. For example, to extend or erect agricultural buildings, individuals must seek approval for the building's design and external appearance instead.  

A third of all farmland is managed by tenant farmers and we recognise the importance of tenanted holdings being able to access the opportunities that these planning changes provide. Tenant Farmers should check the terms of their tenancy agreement and consult with their landlord on any proposals they may have to use these changes to permitted development rights.

We encourage all tenants and landlords to follow the recently launched Agricultural Landlord and Tenant Code of Practice which promotes clarity, communication and collaboration in the tenanted sector.  

The code sets out guidance for tenants and landlords to discuss new schemes and diversification opportunities openly and constructively.  

Further detail on the changes  

We are extending existing permitted development rights to give farmers greater flexibility to convert agricultural buildings to commercial uses.   

The changes will allow farmers to convert larger buildings to a wider range of uses.   

We are also allowing for larger agricultural buildings and extensions to be erected, allowing farmers to respond to changing agricultural practices.  

In addition to this, we are extending permitted development rights so farmers can use agricultural buildings to process raw goods produced on site and which are to be sold on site (excluding livestock) and we are allowing them to develop and extend larger buildings for agricultural purposes.  

Finally, we are allowing farmers to convert buildings on agricultural units and former agricultural buildings to a larger number of homes, more suited to rural needs.  

Increased floorspace  

The amount of floorspace that can change from agricultural use to ‘flexible commercial use’ will increase from 500 square metres to 1,000 square metres.  

The amount of floorspace that can change from a building on an agricultural unit and a former agricultural building to a home will increase from 865 square metres to 1,000 square metres.  

Wider range of commercial building uses  

The range of uses agricultural buildings and land within their curtilage can be used for will widen. This will fall under ‘flexible commercial use’ to include:  

• the processing of raw goods produced on the site and which are to be sold on the site (excluding livestock)  
• the provision of agricultural training  
• outdoor sports, recreation and fitness uses within the curtilage of an agricultural building.  

Changes to agricultural buildings  

We are also increasing the ground area limit of new buildings or extensions erected on farms over 5 hectares in size from 1,000 square metres to 1,500 square metres.  

For farms under 5 hectares in size we are increasing the ground area limit for extensions to existing agricultural buildings from 1,000 square metres to 1,250 square metres.

We are also increasing the cubic content limit of an agricultural building. This will extend from 20% to 25% above the original building cubic content.  

Supporting rural housing  

To encourage conversion of agricultural buildings to more homes suited to rural needs, we are introducing a single maximum floorspace per house limit of 150 square metres.

We are also allowing up to 10 homes (increased from 5) to be delivered and allowing up to 1,000 square metres of floorspace to change use overall.  

Housing delivered through this right must meet the national space standard and receive prior approval from the local planning authority that they have adequate natural light.  

Individuals cannot use this permitted development right in protected landscapes (this includes National Parks and National Landscapes). However the other rights can be used in protected landscapes.  

Scheduled monuments  

We are removing the ability for extensions and the erection of new buildings where there is a designated scheduled monument, to ensure that these nationally important monuments are preserved for the benefit of current and future generations.  

Next steps  

Subject to the agreement of Parliament, these permitted development rights will be available after secondary legislation (law created by ministers or other bodies under powers given to them by an Act of Parliament) comes into force on 21 May 2024.   

Colleagues at DLUHC will continue to monitor permitted development rights. They will make changes in order to ensure that the intended outcomes are achieved.  

Recognising the importance of the food and farming sector to our nation, the Prime Minister will host the second UK Farm to Fork Summit at 10 Downing Street on 14 May. This event will bring together industry across the food supply chain to explore further opportunities to support the sector.  

The amendments deliver on one of the pledges made by the Prime Minister at the Farm to Fork Summit in May last year, to cut red tape and streamline the planning system for farmers. Learn more about the pledges.

You may also be interested in:

• Learning how the Sustainable Farming Incentive can work for you
• Grants in 2024
• Subscribing to the Farming blog

Tags: businesses , Diversification , England , Law , planning , Regulation

Sharing and comments

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Comment by Barrie Crowther posted on 10 May 2024

Hi, Under the new rules can a house / bungalow be built within the farm building boundary for a son / daughter to take over from their aged parents ? Just so long as it falls below the 150 sq mt limit.

Comment by Sarah Stewart posted on 15 May 2024

This document (from 5.4 onwards) might help: https://www.legislation.gov.uk/uksi/2024/579/pdfs/uksiem_20240579_en_001.pdf

Best wishes, Sarah

Comment by Mariesol Tregonwell-Monro-Smith posted on 14 May 2024

Good timing for release of impending statutory instrument

Comment by Claire posted on 22 May 2024

What about Wales? Is it different there?

Comment by Sarah Stewart posted on 22 May 2024

This extends to England and Wales (see section c under the 'Citation, commencement and extent' section ohttps://www.legislation.gov.uk/uksi/2024/579/made)

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Kids and adults gather at a Memorial Day parade to honor and celebrate veterans in South Portland. Sofia Aldinio/ Staff Photographer

BATH 10 a.m. Monday. Parade begins at 200 Congress Ave. and concludes at Library Park and will be followed by a wreath-laying service at 11 a.m.

BERWICK 11 a.m. Monday. Parade begins at Berwick Town Hall/Sullivan Square and proceeds to Lord’s Cemetery by way of Wilson and Allen streets. After a ceremony there, the parade will continue down Saw Mill Hill Street with a pause at the Somersworth-Berwick Bridge for a brief memorial service for those lost at sea. The parade ends at Sullivan Square with a memorial service honoring area veterans.

BIDDEFORD-SACO Opening ceremony at 9:55 a.m. Monday at Saco City Hall. Parade starts at 10 a.m. from Saco City Hall and proceeds along Main Street and down York Hill into Biddeford, continues along Main Street, onto Alfred Street and finishes at Veteran’s Memorial Park with a closing ceremony at 10:45 a.m.

BRUNSWICK-TOPSHAM 9 a.m. Monday. Parade proceeds from Topsham Town Hall, pauses for observances while crossing the Brunswick-Topsham bridge, and concludes at the Brunswick Mall.

CAPE ELIZABETH 9 a.m. Monday. Parade begins at the middle school parking lot, turns right on Scott Dyer Road, right onto Route 77 and ends at the village green adjacent to the town hall. A brief ceremony and laying of the wreath will be held at the Village Green after the parade.

CUMBERLAND 8 a.m. Monday. Kids run at Greely High School followed by 5K Run and Remember race at 8:30 a.m. Parade starts at 10 a.m. at Mabel I. Wilson School and ends at the veterans’ monument in Moss Side Cemetery in Cumberland Center, where a ceremony will be held at 10:30 a.m. Advertisement

FALMOUTH 10 a.m. Monday. Parade proceeds from 65 Depot Road (Falmouth American Legion) to Pine Grove Park, where a ceremony will be held.

FREEPORT 9:30 a.m. Monday. Parade proceeds from Holbrook Street, heads north on Main and makes a right onto School Street, then right onto Park Street, ending in Memorial Park. There will be a small ceremony in Memorial Park starting at 10 a.m.

GORHAM 11 a.m. Monday. Parade starts at Village School (12 Robie St.) and ends at Eastern Cemetery on Johnson Road.

GRAY 11:30 a.m. Monday. Parade leaves the Russell School (8 Gray Park), proceeds to Shaker Road and continues to the Soldiers Monument at the intersection of Routes 26 and 3 for a wreath-laying ceremony. Parade continues north to the American Legion Post (15 Lewiston Road) for a closing ceremony.

LYMAN 1 p.m. Monday. Parade starts at Waterhouse Road/Mill Pond in Goodwins Mills and ends at the Lyman Town Hall on South Waterboro Road.

NEW GLOUCESTER 9 a.m. Monday. Parade leaves from Memorial Elementary School (86 Intervale Road) and heads down Intervale Road to Route 100/202 to Veterans Park for a memorial service. The parade will reconvene and go down Peacock Hill Road, then take a left on Gilmore Road. Advertisement

OLD ORCHARD BEACH 1 p.m. Monday. Parade starts at the corner of Ballpark Way and E. Emerson Cumming Boulevard and proceeds down Saco Avenue, Old Orchard Beach Street to First Street and ends at Veteran’s Memorial Park.

PORTLAND 2 p.m. Monday. The procession starts at Longfellow School (432 Stevens Ave.) and ends at Evergreen Cemetery for a commemoration ceremony.

SANFORD 10 a.m. Monday. The parade starts at the Sanford Armory (88 William Oscar Emery Drive), proceeds up Gowen Park Drive and ends at Central Park.

SCARBOROUGH 10 a.m. Monday. Parade starts at Scarborough High School, turns onto Route 114 and then Route 1, past town offices to the Maine Veterans Home and concludes with a ceremony there.

SOUTH PORTLAND 10:30 a.m. Monday. Parade starts at Southern Maine Community College parking lot, proceeds down Broadway to the Veterans Monument for a short Memorial Day recognition service.

WELLS 9 a.m. Monday. Parade starts at Wells High School (200 Sanford Road) and proceeds to Ocean View Cemetery for a ceremony and musical performances. Advertisement

WESTBROOK 10 a.m. Monday. Parade proceeds down Main Street and will be followed by a ceremony in Riverbank Park.

WINDHAM 9 a.m. Monday. Parade starts at Windham Town Hall and proceeds onto Route 202 toward Windham High School. At 10 a.m., there will be a ceremony in front of Windham’s Veterans Memorial Flagpole at Windham High School.

YARMOUTH 10 a.m. Monday. Parade leaves from Yarmouth High School (286 West Elm St.) and proceeds to the Memorial Green at Town Hall for a ceremony.

YORK 10 a.m. Monday. Parade starts near St. Christopher’s Church (4 Barrell Lane) and proceeds down York Street to York Town Hall.

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Climate-sustainable beef industry on show at Beef2024

• Agriculture

The role that the Australian Government is playing in supporting a climate-sustainable beef industry was showcased at Beef2024.

The government committed $6 million to support Beef2024 as part of the Support Regional Trade Events program election commitment.

Held in Rockhampton from 5-11 May, Beef2024 saw a record 119,000 people celebrate our nation’s world-class beef industry at Australia’s premier agricultural event for the meat and livestock industry. 

Beef2024 attracted industry, international delegates, and political leaders including Prime Minister Anthony Albanese, Agriculture Minister Murray Watt and Queensland Premier Steven Miles, and the Department of Agriculture, Fisheries and Forestry (DAFF) Secretary Adam Fennessy PSM. 

At the event, the Prime Minister announced that $519.1 million in funding from the 2024-25 Budget was being invested into the Future Drought Fund to help farmers and regional communities prepare for the next drought and build climate resilience.

Minister Watt also announced a $4 million Livestock, Animal Traceability Development, Implementation, and Improvement Grant Round, which aims to support industry by helping businesses integrate new and improved traceability systems.

DAFF hosted two seminars on Resilient and Sustainable Farming, which included a presentation from Mr Fennessy on the national priorities for agriculture, fisheries and forestry, and another seminar on Market Access and Biosecurity. 

There was a joint Australian Government trade stall with DAFF, AusIndustry, RIC, Rural Financial Counselling Service (RFCS) Southern Queensland, and the Northern Australia Infrastructure Facility, which showcased how the government is supporting the beef industry.

The department also had presence across the week on Beef TV, with DAFF, RIC and AusIndustry all participating. For the first time, Beef Australia offered a TV component to the event, which allowed domestic and international stakeholders to watch all the action of Beef 2024 online.

Beef TV had nearly 80,000 unique views and was watched from countries including Australia, Philippines, Indonesia, Venezuela, and Paraguay.

There were 11 DAFF videos produced for Beef TV including traceability, digital enhancements that are supporting exporters, biosecurity, the important work of the Australian Chief Veterinary Officer Dr Beth Cookson, sustainability in the red meat sector, farm resilience, the agriculture counsellor network, and an outlook from ABARES.

Find out how the Australian Government is supporting the beef industry .

Watch a round-up of Beef 2024.

Video transcript

Watch a round-up of Beef2024

Video duration 4mins 13 secs

This is the transcript of a video that showcases DAFF’s involvement at Beef2024.

[Recording begins]

Tim Dawson [00:16]

Welcome to Rockhampton. We're at Beef 2024 where 100,000 people flock from all around the world to celebrate the Australian beef industry. We've got producers, processors. We've got everyone in the supply chain that cares about this wonderful product that we produce. And of course, the department's come here to talk with industry and the public about sustainability, drought preparedness, biosecurity and more. So let's find out what this week's really about.

Su McClusky [00:51]

The great thing about being here is I get to speak to producers. I get to speak and hear about their stories. See great examples of agtech innovation, and what's happening on the ground because they become the stories that I tell to bring colour to life when I speak in global markets about how good we're doing things in Australian agriculture.

Sir John Key [01:22]

Food production is in great shape in Australia, but it does face challenges, and those challenges are both cost, political buy in the community, and they're up against some pretty well funded and effective lobby groups. 

Dr Michael Patching [01:43]

We need to be using pain relief. And use of pain relief, there are several products out there. We can do nerve blocks and we can use gels.

Prime Minister Anthony Albanese [01:52]

This is a celebration of all things beef. $519.1 million of the Future Drought Fund to be allocated for resilience. 

Tim Dawson [02:10]

Jim has been producing beef jerky in Biltong for a long time in Australia. But he's just gone through the process with the department to become an exporter of his products. G’day, Jim. 

Jim [02:22]

I’d just like to thank the guys at DAFF and probably my CEO for making this. Being so persistent and continually keeping at it until it was done.

Murray Watt [02:43]

This is an incredible trade show. It's a lot of fun, but there's some serious work as well. Trade deals, we've got international guests here, lots of incredible R& D as well. The beef industry is going really strong, and you can see here at beef that it's gonna be even stronger. What do you reckon, Adam? 

Adam Fennessy [02:57]

I agree. You have to be here to see and appreciate the scale. All of industries here. It's a great opportunity for us to support you. And you've been flat out the last three days. We're also presenting and 

showcasing our work on sustainable agriculture, Future Drought Fund, traceability, trade, supporting international delegates.

Tim Dawson [03:32]

It's been a huge week up here in Rockhampton. We've been in many seminars. We've been to press conferences, we've met a lot of industry and we've been out on farm. The one message that keeps coming through about the Australian beef industry and its success is that if we really want a great trade market and keep producing wonderful products and getting it overseas, industry and government keep needing to work together. And the other thing is, we're all looking forward to Beef2027.

[Recording ends]

Prime Minister Anthony Albanese announced the Australian Government will spend $519.1 million over the next 8 years to ensure rural and regional communities have what they need to plan for future drought.

Watch the Prime Minister Anthony Albanese and Agriculture Minister Murray Watt announce the Australian Government will spend $519.1 million over the next 8 years to ensure rural and regional communities have what they need to plan for future drought.

Video duration 3 mins 54 secs

Prime Minister Anthony Albanese [00:01]

Australians know that what they get on their tables at their family dinners at night is a product of hard work, of our agricultural sector and of our farmers. 

And in particular, this week is a celebration, of course, of all things beef. 

We know that 70% of Australia's beef that's produced is for export. What that means is jobs here. But it also means economic benefit for Australia, whether it be the very important live cattle trade or whether it be meat products that are exported right around the world. 

It's anticipated the exports next year financial year could be worth up to some $12 billion. That's an extraordinary achievement, of this industry. And it's an industry that we've been determined to work with to work with when challenges have arisen, such as the Foot and Mouth disease outbreak in Indonesia. 

Now, today as well, we have a really important announcement of $519.1 million of the Future Drought Fund to be allocated for resilience. We held a forum last year that had input from the sector in how can we improve the way that the fund operates.

We know that the fund is important when events occur to be able to assist with recovery. But what we also know is that the science tells us when it comes to climate change, there will be more extreme weather events and they'll be more intense whether it be floods, whether it be drought or whether it be cyclones. So what we need to do wherever possible, where it's appropriate, is to invest in advance, to build resilience, to work with the farm sector, to make sure that spending a dollar today can save not just $5 or $6 down the track, but can also minimise the grief that farmers feel when they go through a drought situation.

Agriculture Minister Murray Watt [02:13]

Just to back in what the Prime Minister has said on drought. This is a record investment from a federal government from the Future Drought Fund. We are investing more in drought resilience than any government in Australia has ever done from the Future Drought Fund. And as the Prime Minister said, the reason we need to do that is that too often in the past, governments have waited until droughts have happened and then put forward a chaotic, urgent response that hasn't dealt with the underlying problems, and we want to change that. 

We've changed it in the way that we approach disaster management by investing more in resilience, and we're now changing it in terms of how we approach drought. By being much better prepared for drought 

into the future that over half a billion dollar investment will do really practical things. It will help farmers  learn what they can be doing on farm to make themselves ready and make their income streams ready for future drought. 

I've seen for myself some of the fantastic work that the Future Drought Fund has funded to date growing drought, resilient feedstocks for our livestock, sharing climate science with our farmers so they know how to get better prepared. And importantly, also working with local communities to build social resilience. 

Because, as the Prime Minister said, we often often think about the impact on farmers and that's obviously important. But it also devastates social communities as well, and that this investment will go along towards that. 

Every day that a farmer wakes up is a day that's closer to drought, and unfortunately, we're already seeing drought happen in Western Australia, Tasmania and other parts of the country. And that's why it's important that we get cracking with this investment. This money will be available from the first of July this year. We're really looking forward to working with farmers and communities to get it rolling.

Agriculture Minister Murray Watt unveiling the $4 million Livestock, Animal Traceability Development, Implementation, and Improvement Grant Round

Agriculture Minister Murray Watt unveils the $4 million Livestock, Animal Traceability Development, Implementation, and Improvement Grant Round.

Video duration 3 mins 10 secs

So I'm very pleased to announce today, a new round of $4 million in grants from the Albanese government to support further traceability efforts within our livestock sector. One of the real priorities for the Albanese government since we came to office in the agriculture sector has been to strengthen our biosecurity and traceability systems. 

Of course, it was only a few weeks after we came to office that we were faced with the very real threat of foot and mouth disease being literally on our doorstep in Indonesia and lumpy skin disease as well. Two diseases which would be absolutely devastating to our livestock industry if they entered the country with estimates of it potentially costing about $80 billion in lost exports and lost production. 

So that's why we've acted really strongly throughout this term to invest more in biosecurity and more in traceability. And today's brands, of course, now build on that previous work. For those who don't know what traceability is about, as the name suggests, it's about electronic and other systems being installed so that farmers processors, the whole industry supply chain can trace where particular products have come from potentially even down to the individual farm that they have come from. 

This is becoming a more important issue for our trade, for our biosecurity and for the industry as a whole. And even this morning, I participated in a seminar here talking about the future trade opportunities that we have in the beef industry. And one of the key issues that people were talking about was that these days our international markets and domestic consumers want to know where their food came from and what sort of circumstances it was pretty used in. 

People want to know that food is being produced in a more sustainable manner, that animal welfare is being respected. And all sorts of other things that they want to know when they're coming to buy their steaks, their lamb chops and their other food and traceability systems provide that opportunity to be able to trace literally down to the farm level, where a particular product has come from and how it's been produced. 

It's also, as I say, incredibly important from a biosecurity perspective that we have strong traceability systems. If we were to have an outbreak of a serious animal disease like foot and mouth disease, lumpy skin disease or anything else, what we want to be able to do is as quickly as possible identify where that disease has come from, so that particular work can be put into that region to lock things down and get on top of a disease outbreak before it spreads to the rest of the country. So traceability is a vital tool for our farmers and our whole agriculture sector for biosecurity reasons for our trade opportunities. And the Albanese government is demonstrating yet again that we are backing our agriculture sector with real dollars through today's grant announcement. We'll be opening applications for these grants soon, and people will be able to get anywhere between about $50,000 and $500,000 to install these systems on farm in processing sheds and other parts of the supply chain. So this is more good news for our farmers and our agriculture sector here at beef.

Department of Agriculture, Fisheries, and Forestry Secretary Adam Fennessy PSM speaks about how the government is supporting a climate-sustainable beef industry.

Jade Egan [00:01]

So what has the department came out this week? 

Adam Fennessy [00:03]

Thanks, Jade. So, firstly, I want to say it's so good to be here at Beef 2024. All of industry is here, 

here community, there's business. It's the full supply chain, so it's a really important opportunity for us. We've been talking about a lot of things, particularly climate sustainable agriculture with a focus on beef and the beef industry. We're also talking about climate resilience. So the Prime Minister and Minister Murray Watt, the Minister for Agriculture, had an important announcement this morning about the Future Drought Fund, which is more than half a billion dollars to invest in climate resilience. 

Our department is also supporting international delegations. So we have international trade delegations from many countries, from Vietnam to Pakistan, to Bangladesh to many others. That's the critical work that we do as a department for trade, particularly into the beef and livestock industry. And then finally, it's a great opportunity for our department, including me, to hear directly from industry community, all the stakeholders along the supply chain. It's one of the most integrated comings-together of part of the agriculture industry in Australia being the beef sector. So it's an incredible opportunity in both directions.

Jade Egan [01:21] 

Just going back to the drought package. Why has it taken so long to get that funding? 

Adam Fennessy [01:28]

Well, one thing I'll say about the drought package is that different parts of Australia are either in drought coming out of drought, entering drought. It's a long-term risk. We've been getting on the front foot. So even though it may feel like it has taken a while, we've been doing ongoing work on this for many years. I was in Rockhampton last year in it was about October, where a review of the Future Drought Fund approach was launched by the Productivity Commission and the Federal Treasurer. So we needed to learn from that and calibrate our approach through Minister Watt to make sure that we're listening to that external advice of how to be impactful for drought funds. What's so important is that broader resilience idea that it's not just about drought. It's about preparing for climate impacts, whether it's flood fire, dry seasonal conditions. Australia's such a big nation that some parts of Australia, we're getting too much water and rain, other parts, like south west western Australia or even some of the Strait islands north of Tasmania are in really hard drought now. So it's that long-term ongoing, science based research around how we best support agriculture communities. So in one respect, the work's been ongoing, and the announcement today is the fruition of that review from last year, as long as well as the work we've been doing over many years. 

Jade Egan [02:53}

Sustainability has been such a major thing here this week already. How integral is it to have transparency process? 

Adam Fennessy [03:04]

It is critical and what I loved about some of the sessions I've been to. So this morning I was there for the Australian Beef Sustainability Framework annual update. What is inspiring about that is we have incredible agribusinesses that are leading their internationally-faced or focused, and in particular, they're looking at what customers are expecting globally. So the session I went through this morning, including panel members from McDonald's who are doing this globally. There's international regulation that was also discussed this morning, For example, in the European Union, transparency is critical. Preparing ourselves for what overseas markets are expecting, particularly because it's a big export facing industry. Transparency is critical. So our best practise, agribusinesses know what is expected of them internationally, as well as from an Australian government perspective. How do we also bring the full spectrum of agribusiness along with us, those who are market, international export facing to more domestic producers and the whole supply chain as well from not just producers but processors. 

Tomorrow, I'll be talking about the work that we're doing in support of the minister on sustainable agriculture. We've got an upcoming forum in Toowoomba in two weeks’ time where we're talking about our agriculture and land sector plan in support of Minister Watt and the Net zero approach across Australia. So that's going to be a big opportunity for us to engage with agriculture across the whole of Australia. It'll be in Toowoomba.

And the second point I wanted to make is we're also here with CSIRO, Australia's leading science-based organisation. This is evidenced and science based. So I've been spending time with Doug Hilton, the CEO of CSIRO. That's a critical partnership for us to work together with the best science, the best research and development corporations across Australia and with the Australian beef industry.

Tina Hutchison, Deputy Secretary of Agricultural Trade and Regulation at DAFF, discusses the department’s biosecurity and market access seminar at Beef2024.

Video duration 3 mins 26 secs

Beef 2024 is a flagship event for the Australian beef industry. It's held every three years. It brings together all of the industry, it brings international people. It brings in producers. It brings in many people from around Australia and around the world with an interest in Australian beef. The department has many programs and policies that affect producers, and the bit of the business I'm in, particularly in trade. 

It's vitally important that we understand what's going on for Australian beef producers. Hear directly from them. Have the opportunity to engage in one place with either them directly or their representative bodies, 

and to help them understand what we do, why we do it, how we're working to make sure that we access and maintain international trade markets for them. What some of the challenges are that we're currently facing and also some of the investment. We've got to overcome some of those challenges and make sure that Australian beef industries and exports are strong now and into the future.

The Australian biosecurity system is a significant and important one. Australia is an island nation as we know, and we need to manage the threat of pest and diseases arriving on Australian shores. That's good for our human health. It's good for our animal plant and environmental health. 

But it's also a significant underpinning for our international markets, because when we are free from pests and diseases, it means that our producers are not having to pay additional money to manage them. So the cost of production is reduced. 

But equally, it gives us a really important negotiating point with our trading partners. So the systems are incredibly important. None of the systems can operate effectively without everyone in the whole system doing their bit, and that includes producers. It includes processors. It includes exporters, and it includes governments, Commonwealth but also state and territories. So the systems are interlinked. One bit doesn't operate without the other and opportunities like this to talk about that, hear directly from people but also describe that system how it fits together and what it relies on is a really important opportunity. 

And we got that opportunity this morning and we had terrific engagement. We got some great questions from a range of people and it certainly helped me understand where people or what people are thinking about what's on their mind, what's important to them. And people are focused on the future, as are we. How can we improve the systems we've currently got and reduce some of the gaps and the bits of our system that aren't operating currently as well as they possibly could. 

It's been a really fun and enjoyable week here in Rockhampton at Beef 2024 in amongst all of that fun and that that enjoyment has been serious work. Serious topics have been discussed. I was lucky enough to attend a seminar yesterday morning hearing from colleagues and competitors. But colleagues in the United States about some of the issues that they're facing as well. So, what I'm taking away 

is a sense of optimism. There's lots to be done, but there's lots of good work going on across the business, and it didn't matter whether you were talking to industry or to government. People are talking about working together, about having standards and systems that work for us all and that is terrifically optimistic for me.

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