How to start a farm:
If you want to start a farm business, you might be wondering what is the next step. You may not have land at this moment but still you might be planning for one. Here are some important steps to perform before you start a Farm business.
Design and Plan your Farm:
First step is know what your goal is and define what it should be. You can be growing a micro scale vegetable farm or you may be planning to grow acres of hay for other farmers.You may want a diversified farm composed of a small scale operation that grows a mix of crops and animals. You can even start a ecotourism farm where people might be visiting your farm to participate in farm chores.
Write a Business Plan:
You might be wondering if you still need a business plan even for farming. Yes absolutely! Any business needs a business plan similarly farming too. While writing a business plan, consider markets, supply and demand. Dont forget about SWOT analysis and Potters Five forces. You also need to include financial analysis, operations management, supply chain management, marketing strategies, price points and products. Business plan is the backbone to start a business because it is the point where you transform your dreams and brain storm them to make them a reality
At the beginning you won’t be having enough funds to start a business. You may be thinking to start a farm with the savings you made from the past job. But remember that those savings can help to start a farm business but it may take so long to get the crop into market. Grants and Loans are one option you can consider. These programs offer subsidized equipment such as assistance in certifying organic. High tunnels etc.
Get Business Licenses and Permits:
Local and state law may have different requirements to establish a small farm business. But what ever the law is, you need to fulfill certain basic requirements such as registering for business name, purchasing a business license, carrying product liability insurance and getting an employer identification number.
Setting Up Finances:
Remember we discussed about the Business plan and included financial planning in it. You have to decide about your business structure whether it is an LLC or a sole proprietorship or something else. Take the help of an accountant to determine the situation. Dont forget to set up a system for bookkeeping and accounting from the day your start your small farm business.
Learn about Farming:
Rome is not built in a day. I hope you got my point. Learn as much as possible within the time you have. But be realistic too as you cannot learn all at once. Trial and error may be messy, time consuming and costly too. Yet its inevitable with farming, so embrace the process. If you can find a good mentor from your community or where you plan to farm, you can learn a lot. If you don’t find a mentor, don’t worry, there are always volunteering opportunities out there for you to learn. In the mean time if you are looking for How to become a Farmer, we have great resources to fulfill that too. Comment your views about what are your plans to start a Farm. I would be happy to help you with my expertise.