Farm and business Management (FBM), is the practice where you coordinate all aspects of your farming operation to maximize income and profit. This process requires a broad range of skills, including management, economic analysis, and marketing.

Key practices for managing a country farm or business include:

Marketing – selling your products or services; financing – loans to finance your operation; risk management – ensuring that your operation is safe from disasters.

Financial – creating pro-forma and http://www.mountaincountryfarm.com/ actual enterprise budgets to help forecast income and expenses; calculating ratios; setting financial goals.

Write down how you plan to achieve your objectives. This will help to identify the weaknesses in your business by thinking through the different functions.

You’ll need to find out if your property is zoned as production land or if zoning laws limit the kind of production that you can do. Check with your county or township to see if they have any restrictions.

Your business will need public facilities as well, such parking areas, signage and customer assistance. These will be required to accommodate customers and visitors to your farm/ranch and should be maintained in compliance with zoning, food safety and environmental laws.

In the end, your business needs to be self-sustaining. It also needs to be a source of income. This means that you need to have enough income from your business to cover your living expenses, and save for the future.