How to Start a Successful Farming Business

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Starting a farming business can be a rewarding venture for anyone who loves a rural lifestyle. Running a farm requires you to raise crops, care for livestock and make a profit from the goods you harvest. Starting a farming business takes some preparation and dedication to be successful. You must become a business person who can raise and market commodities properly and run the farm in accordance with state and federal regulations.

Determine a budget. You need to have a large amount of start-up capital to develop a farm and maintain the business. You need money to pay for expenses related to materials, heavy machinery and tools for cultivations and distribution. You may qualify for loans or financial assistance from banks or financial programs, such as the Beginning Farmer Loan Program, the Farm Credit System and the USDA's Farm Service Agency.

Hire an attorney and an accountant. A lawyer can assist you in registering your farming business and filing all corporate filings and tax permits in your state. Whether your farming business sells grass-raised beef or fresh eggs, your attorney can educate you on state and federal regulations. An accountant can set-up banks accounts and payroll systems if you hire staff. Generally, harvest time is when you are the most busy, and summertime at farmer's markets is when you are most successful. These are usually the two times a year when you need full-time or part-time employees.

Prepare your farmland for your commodities. If you raise livestock, have proper containment and grazing systems in place with shelter. If you focus on agriculture, design your property for maintenance and ease of cultivation.

Develop relationships with local grocery stores, restaurant owners and the local farmer's markets. Establish contacts with each client before harvest time. This gives you a short-term loan to grow your products. Consumers want their produce and meat fresh, so don't wait until harvest time; know where your mean and produce is headed well in advance.

Promote your farming business in the local community. Advertise your assets. For instance, if your veggies are organic, tell the public in the local newspaper, in brochures and on your own website. Host farm tours and community sponsored agricultural programs at your farm.

Follow the trends in your sales. Adjust your market prices for your corps each year once you see which items sell successfully.

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