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Running a Successful Farm Business

Every Business has Two Parts

farm animalsAs with all businesses, farm businesses involve two parts. First, is the skill or service that the business offers such as breeding animals or selling animal products such as eggs. Second, is the business side of the business that involves marketing, planning, financial statements, cash flow, and risk management.

Running a business is not easy. It is not enough to be the best at your skill or service, you must be able to get new customers and keep existing customers through an effective marketing plan using a website and social media. Without sales, there is no business.

Marketing Your Farm Business

Your farm business depends on attracting and keeping customers, yet many new businesses fail at this very basic concept. Failure to constantly promote your business through effective marketing techniques will result in the failure of your business.

There are many ways to market without expensive advertising and you should be aware of these methods. One of the cheapest and easiest marketing tools is Social Media.

Social Media

One of the best sources of marketing is social media such as Facebook, Twitter, and Instagram. You can establish a Facebook page in minutes and put all the information about your business on your page. People will find you when they search on the internet and the pictures and information on your page will be your advertising.

Start with Facebook and move onto Twitter and Instagram as you grow and maybe even a website with even more sales tools.

Business Income

As the main employee of your business, you must pay yourself a living wage. If your business income does not allow you to do this, you don't have a business and you should go to work for someone else so you can meet your personal financial obligations.

Most people have personal financial obligations in addition to business financial obligations. You cannot ignore your personal financial obligations in favor of your business obligations. Each should be kept separate so you can budget for both and see the results of your business.

Side Hustle

Because of the need to support themselves, many entrepreneurs start on a part time basis, holding down a full time job while building a new business as a side hustle. Once the side business produces enough income to have the potential to support them, they then move into the business full time.

Have a Plan

The purpose of these pages is to help you be a successful business person, not to teach you equine professional skills. You should have those skills before going into business.

First, you will need a business plan. The SBA provides a very useful tool for building a business plan. The process of building a business plan is hard work, but having your business fail is even harder work. Start with a sound plan and you will have a much better chance of succeeding.

What You Should Know About Running a Business

Jul 6, 2021
The future of drones in farming
Reese Mozer, CEO of American Robotics
This article describes a highly sophisticated use of drones that perform on their own, supplying information back to the farmer and even directly to farm equipment such as sprinklers. Somewhere between the toy drone and this automated utopia, lies the small farmer and the use of out of the box drones that can be easily set up to perform routine tasks.
If we look to the future, where automated drone systems are as common as tractors, we will see increased collaboration between technologies on the farm, further unleashing the benefits of precision agriculture. This will include teaming between automated drones and automated ground equipment, synthesizing aerial image data with ground sensors and weather data, developing a collaborative set of AI that will eventually mimic and improve upon the daily tasks of the farm.‚ÄĚ More info...

Jun 30, 2021
Need Money?
Get a low cost personal loan.
Did you run up your credit cards during the last few months? Apply for a personal loan at a low-interest rate and get the money you need to pay off your credit cards. Personal loans can be used for any purpose and the interest rate is much lower than credit cards. Take a vacation, buy new clothes. Apply now. More info...

Jun 6, 2021
Incorporating Your Horse Business
Protect Yourself and Your Assets
Because we are an equine law firm, owners of many horse-related businesses ask Equine Legal Solutions (ELS) about the potential benefits of incorporating their business. Frequently, they are inspired to ask after hearing a friendís horror story about losing their savings, truck, horses and other personal assets due to a horse business setback. More info...

Apr 29, 2021
Barn Fans for a Cooler Barn
Record Summer Heat is Forecast
Keep your horses and livestock healthy and yourself comfortable during these periods of record heat. A good barn cooling system starts with quality barn fans that can cool the barn up to ten degrees. Barn fans will also remove dust and the moving air discourages flying insects.

Also consider water misters in dryer climates where the evaporation of mist will cool the area another several degrees. More info...

Mar 21, 2021
Business Loans for LLCs
Get Multiple Quotes
Business Loans
Apply for a small business loan with one simple application and get several offers. Lenders will make offers based on your business credit and income. It cost nothing to apply so it is worth a few minutes to see what kind of loan offer suits your needs. More info...

Mar 20, 2021
Planning Ahead With a Pet Trust
Florida law allows you to set up a trust for your horse's care
Under Florida law it is possible to create a trust, known as a Pet Trust, for the care of your horse. If you have a horse, would you like to provide instructions for its care if you are no longer able to do so due to your death or disability? If so, by creating a Pet Trust under Florida law, you can provide for the care of your horse.

(1) A trust may be created to provide for the care of an animal alive during the settlorís lifetime. The trust terminates on the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlorís lifetime, on the death of the last surviving animal.

(2) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed.

(3) Property of a trust authorized by this section may be applied only to the intended use of the property, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise as part of the settlorís estate.
Here is an easy to use form that can be used to set up a pet trust. More info...

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