Farmers: 5 Tips for Building Your Farm Business

Turning a love of farming into a profitable and sustainable business can be extremely rewarding. Here are some tips for getting started and making your farm a success.

1. Start with a business plan — According to Mother Earth News, this first step is essential. It is a good exercise to go through, and it will be necessary if you are applying for loans to get your farm business started. Expect the plan to change significantly during the first three years, but try to have the plan well-established by your third year.

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2. Have a financial survival plan — The first few years of your farm business can be risky, and it may take a while to begin turning a profit. Having a survival plan and some emergency cash will help you avoid borrowing against future profits, says Mother Earth News.

3. Launch a website — Hobby Farms says a professional-looking website will help you reach many customers in a very efficient way and can be a great marketing asset. If you have the desire to learn, you can try to design your own site using any number of low-cost or even free templates. Otherwise, hire a skilled web designer to create your site at a reasonable cost.

4. Shadow other successful farms — Kerry Dull, an Indiana tree farmer tells Ag Web that during the eight years she waited for her now booming farm to turn a profit, she should have sought a mentor and visited other farms to help her learn best practices. It can be easy to get caught up in your own business, but visiting and learning from other farmers can be helpful.

5. Set your farm apart — Hobby Farms recommends that all farmers think about and clearly communicate what makes them unique in their market. For example, maybe your farm is special because of organic farming practices or a wider variety of heirloom crops than any other local farm. This unique selling proposition or USP can become the cornerstone of your marketing plans and communications with your customers.

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