This resource will stimulate better business planning by ranchers and farm managers whether they prepare the plans themselves or with the assistance of advisors. The authors’ objective is to illustrate the value of creating and using a business plan as an important business management tool to reduce risk and increase profits on the farm. They wrote to simplify the creation of business plans and the planning process to encourage more farm businesses to develop business plans.
A business plan is a critical business management tool for meeting with investor’s, lenders, business partners and family members. All the elements of a business plan are described in a simple way to enable you to create a plan for your business; these elements include the business profile, the operational plan, 6the marketing plan, the human resources plan and the financial plan. There are mini profiles of Canadian farm managers who have created and use “business plans” as an essential management tool in their business. There is also a CD-ROM included with a number of actual business plans from different types of farms which can assist in your business plan creation. The CD-ROM also includes a business plan template which has been endorsed be several national lending institutions.