Farm operations encounter many more challenges than other businesses.Considerations like production risk, weather challenges and livestock demands can quickly become a detriment to an unplanned and unorganized farm.Identify your farm’s competition and use the SWOT analysis to determine how you can differentiate your farm from that of the competition.
Also, summarize your current financial state and future needs.
Download: Sample business plans and templates (Canada Business Network) What’s the purpose of your business?
Include the costs for each piece of machinery, as well as the costs for materials and supplies, such as tillers, tractors, seeds, fertilizer, barrels and every other item that is required to operate your farm.
Identify the government regulations that your farm operation will be required to meet.
Describe any company strengths and weaknesses, opportunities and any significant changes that could impact the operation.
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Research: Industry, markets and trade (AAFC) Describe the ownership structure.
Create a written explanation of how your operation intends on generating profit.
Present a few tables to emphasize the financial forecasts.
Include the goals and missions of your business and explain the farm’s short and long-term goals.
Provide a brief review of the farming industry’s trends, growth patterns and economic standpoints.