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Making a Risk Management Plan for Your Business
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management. These guidelines are for making a risk management plan for your business.
Developing Your Executive Summary
When you start the risk management plan with an executive summary, you’re breaking apart what it will be compromised of into easy to understand chunks. Even though this summary is the project’s high-level overview, the goal is describing the risk management plan’s approach and scope. In doing so, you’re informing all stakeholders regarding what to expect when they’re reviewing these plans so that they can set their expectations appropriately.
Who Are the Stakeholders and What Potential Problems Need Identifying?
During this phase of making the risk management plan, you’re going to need to have a team meeting. Every member of the team must be vocal regarding what they believe could be potential problems or risks. Stakeholders should also be involved in this meeting as well to help you collect ideas regarding what could become a potential risk. All who are participating should look at past projects, what went wrong, what is going wrong in current projects and what everyone hopes to achieve from what they learned from these experiences. During this session, you’ll be creating a sample risk management plan that begins to outline risk management standards and risk management strategies.
Evaluate the Potential Risks Identified
A myriad of internal and external sources can pose as risks including commercial, management and technical, for example. When you’re identifying what these potential risks are and have your list complete, the next step is organizing it according to importance and likelihood. Categorize each risk according to how it could impact your project. For example, does the risk threaten to throw off timelines or budgets? Using a risk breakdown structure is an effective way to help ensure all potential risks are effectively categorized and considered. Use of this risk management plan template keeps everything organized and paints a clear picture of everything you’re identifying.
Assign Ownership and Create Responses
It’s essential to ensure a team member is overseeing each potential risk. That way, they can jump into action should an issue occur. Those who are assigned a risk, as well as the project manager, should work as a team to develop responses before problems arise. That way, if there are issues, the person overseeing the risk can refer to the response that was predetermined.
Have a System for Monitoring
Having effective risk management companies plans includes having a system for monitoring. It’s not wise to develop a security risk management or compliance risk management plan, for example, without having a system for monitoring. What this means is there’s a system for monitoring in place to ensure risk doesn’t occur until the project is finished. In doing so, you’re ensuring no new risks will potentially surface. If one does, like during the IT risk management process, for example, your team will know how to react.
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Goat Farming Business Plan Template
Written by Dave Lavinsky
Goat Farming Business Plan
Over the past 20+ years, we have helped over 500 entrepreneurs and goat farmers create business plans to start and grow their goat farms.
If you’re unfamiliar with creating a goat farming business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.
In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a goat farming business plan step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your commercial goat farming business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start a goat busienss or grow your existing goat farm, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your goat business to improve your chances of success. Your goat farming business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Goat Farms
With regards to funding, the main sources of funding for a goat farming business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for goat farms.
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How to write a business plan for a commercial goat farm.
If you want to start a goat farming business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your goat farming business plan.
Executive Summary
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your executive summary is to quickly engage the reader. Explain to them the kind of commercial goat farming business you are running and the status. For example, are you a startup, do you have a goat farming business that you would like to grow, or are you operating an established goat farming business that you would like to sell?
Next, provide an overview of each of the subsequent sections of your plan.
- Give a brief overview of the goat farming industry.
- Discuss the type of goat farming business you are operating.
- Detail your direct competitors. Give an overview of your target customers.
- Provide a snapshot of your marketing strategy. Identify the key members of your team.
- Offer an overview of your financial plan.
Company Overview
In your company overview, you will detail the type of goat business you are operating.
For example, you might specialize in one of the following types of commercial goat farming businesses:
- Milk and dairy production: Involves raising dairy goats for their goat milk and other dairy products such as cheese and yogurt.
- Meat production: Involves raising and selling goats for their goat meat.
- Fleece farm: Involves raising goats for their fur to be spun into yarn.
- Miniature goat farm: Involves raising goats to be sold as pets.
In addition to explaining the type of goat farming business you will operate, the company overview needs to provide background on the business.
Include answers to questions such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of customers served, the number of goats sold, and reaching $X amount in revenue, etc.
- Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
Industry Analysis
In your industry or market analysis, you need to provide an overview of the goat farming industry. While this may seem unnecessary, it serves multiple purposes.
First, researching the goat farming industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.
The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your goat farm business plan:
- How big is the commercial goat farming industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential target market for your goat farm? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
Customer Analysis
The customer analysis section of your goat farm business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: individuals, schools, families, and corporations.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of goat farm you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.
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Competitive Analysis
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other goat farms.
Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This may include other types of meat farms, meat and dairy alternatives, pet stores, or other types of fibers depending on which type of goat farm you decide to operate. You need to mention such competition as well.
For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as
- What types of customers do they serve?
- What type of goat farm are they?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you make it easier for your customers to acquire your products?
- Will you offer products or services that your competition doesn’t?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Marketing Plan
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a commercial goat farming business, your marketing strategy should include the following:
Product : In the product section, you should reiterate the type of goat farm that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you sell milk, cheese, meat, fibers, or goats?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.
Place : Place refers to the site of your goat farm. Document where your company is situated and mention how the site will impact your success. For example, is your goat farm business located in a rural area with access to a highway, in a suburb near your target customer base, or in your backyard? Discuss how your site might be the ideal location for your customers.
Promotions : The final part of your goat farming marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:
- Advertise in local papers, radio stations and/or magazines
- Reach out to websites
- Distribute flyers
- Engage in email marketing
- Advertise on social media platforms
- Improve the SEO (search engine optimization) on your website for targeted keywords
Operations Plan
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your goat farm, including answering calls, caring for your goats, meeting with customers, billing and collecting payments, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to acquire your Xth customer, or when you hope to reach $X in revenue. It could also be when you expect to expand your commercial goat farming business to a new region.
Management Team
To demonstrate your goat farm’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in managing goat farms. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a goat farm or successfully running a farm.
Financial Plan
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
Income Statement
An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you have 30 goats on your farm, and will each goat produce an average of 3 quarts of milk per day? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets
Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your goat farm, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement
Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and goat farmers don’t realize is that you can turn a profit but run out of money and go bankrupt.
When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a goat farming business:
- Cost of farming equipment and supplies
- Payroll or salaries paid to staff
- Business insurance
- Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your farm location lease or photos of your farm and goats.
Writing a business plan for your goat farm is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the goat farming industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful goat farming business.
Goat Farming Business Plan Template FAQs
What is the easiest way to complete my goat farming business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily write your goat farming business plan.
How Do You Start a Goat Farming Business?
Starting a goat farming business is easy with these 14 steps:
- Choose the Name for Your Goat Farming Business
- Create Your Goat Farming Business Plan
- Choose the Legal Structure for Your Goat Farming Business
- Secure Startup Funding for Your Goat Farming Business (If Needed)
- Secure a Location for Your Business
- Register Your Goat Farming Business with the IRS
- Open a Business Bank Account
- Get a Business Credit Card
- Get the Required Business Licenses and Permits
- Get Business Insurance for Your Goat Farming Business
- Buy or Lease the Right Goat Farming Business Equipment
- Develop Your Goat Farming Business Marketing Materials
- Purchase and Setup the Software Needed to Run Your Goat Farming Business
- Open for Business
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Your Farm's Business Plan
A good farm business plan is your roadmap to start-up, profitability, and growth, and provides the foundation for your conversation with USDA about how our programs can complement your operation. Your business plan will be a living document that you can change as your vision and circumstances shift.
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Key resources for planning your business, farm service agency (fsa).
Staff at your local service center, as well as your State Beginning Farmer Coordinator can connect you to local resources in your community to help you establish a successful business plan. If you are applying for a loan your loan officer will review your business plan and assist you in translating your plan and farm vision to your application.
This FSA business plan template is part of the application and shows you the type of information you should gather when preparing your plan and application materials.
The Score Mentorship Program partners with USDA to provide:
- Free, local support and resources, including business planning help, financial guidance, growth strategies
- Mentorship through one-on-one business coaching -- in-person, online, and by phone
- Training from subject matter experts with agribusiness experience
- Online resources and step-by-step outlines for business strategies
Learn more about the program through the Score FAQ .
Other Farm Business Resources
- Extension.org is an online community for the Cooperative Extension program where you can find publications and ask experts for advice.
- The Small Business Administration offers information about starting, managing, and transitioning a business.
- FarmAnswers.org , from the University of Minnesota, includes business planning guides like this Guide to Developing a Business Plan for Farms and Rural Businesses and several key tax guides .
- Publication 225 - The Farmer's Tax Guide from IRS.gov.
- USA.gov provides Small Business Tax Information and state-specific business resources .
Special Considerations
- Organic Farming has unique considerations. See USDA’s Is Organic an Option for Me? , NRCS’s Organic Website , and the National Organic Program.
- Value Added Products – Check out Agricultural Marketing Resource Center ( AgMRC ) resources.
- Starting a Cooperative? Check out How to Start a Cooperative from USDA’s Rural Development Agency (RD). Cooperative Development Centers , partially funded by RD, can also provide guidance.
- Urban Farming has special opportunities and restrictions. Learn how USDA can help at farmers.gov/urban .
- Getting Involved Locally – Check your local community for agricultural events, conferences or meetings to attend as well as any farmers markets or food hubs.
Conservation and Risk Management
Another key tool is a conservation plan, which determines how you want to improve the health of your land. USDA’s Natural Resources Conservation Service can help you develop a conservation plan for your land, based on your goals, at your local USDA Service Center .
A conservation plan can help you layout your plan to address resource needs, costs and schedules. Learn more about conservation in agriculture .
Crop insurance, whole farm revenue protection and other resources can help you prepare for unforeseen challenges. Learn more about disaster recovery .
Prepare for Your Visit to a USDA Service Center
Once you've written out a business plan for your operation, prepare for your visit to a USDA service center. During your visit, we can help you with the necessary steps to register your business and get access to key USDA programs.
Learn more about how to work with your USDA Service Center
Setting Up and Financing Your Business
Tips to consider when setting up your business.
Use the New Farmers Checklist to understand the steps you might need to take before setting up your operation.
- Determine the legal structure of your business whether it may be a sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit, or cooperative.
- Register your business with your state government.
- Obtain a Tax Identification Number from the IRS and your state revenue agency .
- Register for state and local taxes to obtain a Tax Identification Number, workers' compensation and unemployment and disability insurance.
- Obtain the necessary business licenses and permits .
- Understand the legal steps you'll need to take to hire employees.
Learn more about how you can get funding for your operation on our Land and Capital page .
Learn more about opportunities for beginning farmers and ranchers .
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Writing a farm business plan can be a tool for you to plan your farming business. It can also be a requirement of securing grants and loans for your farm business. The process of writing a farm business plan may seem overwhelming and intimidating at first, but if you break it down into its component steps, it becomes much more manageable.
What Is a Business Plan?
A business plan is a roadmap for your small farm . It is both process and product. During the writing of a farm business plan, you'll develop an overall vision and mission for your business. You will think about your short- and long-term goals. You'll define the steps needed to achieve those goals. You'll set the direction for your business to develop over the next five years.
If you're already an established business, your new business plan will show where you're going next. A good business plan should be:
Mission Statement
Your farm’s mission statement is your overarching purpose for your business:
- Why does your farm exist?
- What purpose does your farm serve?
- Where is your farm headed?
This is beyond “make money.” This mission statement is based on your values and your core identity as a small farm.
The goals in your business plan are the specific, measurable “things” you will achieve with your small farm. Short-term goals are defined as those that you will complete within one year. Long-term goals are those that take longer than one year to complete.
SMART Goals are:
- Rewarding, and have a
Background Information
In this section of your business plan, take inventory of what you have right now:
- Where are you located?
- How many acres of land are you farming?
- When did you begin farming?
- How are you currently operating?
- What general practices do you use for such things as conservation, tillage, environmental impact, and marketing?
Farm Strategy
This is where your business plan gets to looking forward. You are going to formulate your farm strategy from now into the next five years or so.
- Gather information and research markets. Make sure that your farm plan fits into the general market in terms of supply and demand. Investigate and analyze industry trends, identify competitors, and define buyers.
- SWOT Analysis. This is an analytical tool that can be used in making decisions. SWOT stands for: strengths, weaknesses, opportunities, and threats. As a business, analyze your internal strengths and weaknesses. Then look externally at what opportunities and threats exist - competitors, new markets, government regulations, economic conditions, and so forth.
- Create alternative strategies. Looking at the information you've gleaned and the analysis you just did, think through options for your farm strategy. Don't rely on price alone; economies of scale are challenging on the small farm level.
- Don't jump to one conclusion immediately. Really spend some time fleshing out the specifics of some of the strategies and looking at their advantages and disadvantages. Try to find options that combine your internal strengths with opportunities in the external environment.
- Look at all your strategies, then reread your mission statement. The ideal farm plan will fit your mission best.
- Write an implementation plan. This is where you write a plan that will make your new strategy happen.
Marketing Strategy and Plan
In the next part of your farm business plan, you develop and outline a marketing strategy for your products and services. This can build on the research you did in the previous step. For each product, include the price, placement, and promotion ideas. Consider how you will convey real and perceived value to your customers.
Management Summary
This part of your business plan details your farm business’ structure. Everyone who is involved in the management of the business should be listed here. External resources are listed here as well.
Financial Analysis
In this section, you will need to detail the financial aspect of your farming operation. List your current finances in detail, including all income and operating expenses. Referring to your new strategy, you will forecast what is needed for future growth and to meet the goals you have outlined in terms of capital. Include what your future operating expenses will be.
Pulling It All Together
Writing a farm business plan is a big project. Don’t let that put you off. Your plan can be as simple as it needs to be for right now. Begin with your mission statement and goals. Do your homework by analyzing markets and researching competitors and trends. Have fun brainstorming alternative strategies and let them marinate a while. Take it one step at a time.
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How to create a farm business plan.
Creating a farm business plan is a way for you to formalize your thoughts, ideas and goals. As such, the process can be a real eye-opener.
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Do I need a Business Plan for my Farm?
Writing a farm business plan template: 15+ things entrepreneurs should include, 1. executive summary.
As you write the executive summary, imagine that someone is looking over your shoulder, reading it. Those people you’re imagining include potential lenders, business partners and customers.
2. Goals and Objectives
3. introduction, 4. mission statement and values of your farming business plan.
This is the topic that gives you the chance to talk about the personal values that led you to the farm business, whether it’s agriculture or a farm-made product. The Mission Statement does this.
5. Industry History
6. company background and history.
If this business plan involves your family farm, talk about the history of that, including key events. And if it’s not your family farm, talk about the history of the farm leading up to your purchase.
7. Competitor Analysis
8. target market.
Your main page should include your contact information and an email address. It should link to other pages. Those pages describe each product and price. You can also provide links to articles about your product or links to articles about your type of farm. First, make sure it’s okay to use the article if it is copyright material. Copyright your website.
9. Products and Services
10. organization, human resources and management plans, 11. swot analysis, 13. growth strategy, 14. financial plan, 15. marketing strategy, how do i write a small farm business plan, how do you start a farm business plan.
Start with one piece of the business plan. One of the hardest sections of a business plan to write is the Mission Statement. If you get bogged down there, continue and come back to it later.
How much do farm owners make a year?
How much does it cost to start a small farm, what is the most profitable farming business.
Poultry farming is currently the most profitable – and common – farm business in the world. It includes chicken, turkey, quail, ducks and goose, that are being raised for meat or eggs.
Best Goat Farming Business Plan For Beginners
Are you a beginner in goat farming? Looking for goat farming business plan for beginners? If yes, then you are in the right place. Here we are trying to describe more about profitable goat farming business, especially for beginners. Hope this guide will be very helpful for you!
Actually a suitable and effective business plan is a must for starting any business. As goat farming is a proven highly profitable business so, it is very necessary to make a proper goat farming business plan before starting this business. Make a clear and up to date business plan before investing your money in this market.
Although goat farming project requires less capital and investment than raising any other livestock such as cattle or buffalo. But you will need high investment if you want to start a commercial production.
You can start goat farming business with a very small investment, if you start with a minimum number of goats. But goat farming is very profitable and you will get more profits from goat farming business than any other livestock farming business .
Table of Contents
Goat Farming Business Plan For Beginners
Making an effective goat farming business plan for beginners is very important for making high profits from this business. Main reasons of the the high popularity and rapid spreading of this business throughout the world are high profit within a very short time, little investment requirement, huge global demand of goat products.
If you want to start this business and if you have the ability of making a plan perfectly then you will defiantly be able to achieve the highest profit from goat farming business. If you are a beginner in this business, then we recommend contacting some successful goat producers in your area and visit some farms practically.
By visiting some farms and goat producers you will get some clear ideas about the pros and corns of this business. This will help you running your business perfectly. However, for making a suitable goat farming business plan for beginners, read the following criteria very carefully. Try to include everything in your business plan before starting this business .
Try To Complete A Training First
Starting a new commercial goat production system is simple and easy. That’s why this business is good for the beginners. If you are a beginner, then we recommend having training first before starting this business. You can contact your local agriculture extension office to learn more about the availability of training facility in your area.
Have Your Investment Ready
Large scale or commercial goat farming business require relatively high investment. So, try to have your investment ready before starting. You can either invest money you already have, or you can also apply for bank loan. There are many government and non-government banks available who are providing loan for starting commercial goat farming business .
Select A Good Location
Selecting a good and suitable farm area for your business is a very important part of your goat farming business plan. Try to select such an area which has all required facilities for successfully starting and operating this business.
Ensure a good source of fresh water is available in your area. Having a good food (especially greed foods) source near your farm area will be very helpful. Ensure all types of required materials are easily found near your selected area.
Good transportation system is a mandatory. And also ensure full time labor is available in your selected area. Try to select the location near a market so that you can easily purchase required materials and also sell your products.
Goat Products
First of all, make a clear decision of what do you really want to produce and sell from your goat farming business . Goats are multi-purpose animals. You can produce many products such as milk, meat, fiber, manure and skin form goats.
Go to your nearest market and try to understand which goat products have a high demand in the market. Try to produce those products which you can sell easily in your local market. Otherwise you will lose money instead of being benefited.
For an example, you have established a dairy goat farming business. And your goats are producing milk highly. But there are a little or no goat milk consumer in your local market. Then what will you do with your production? So, always keep in mind this factor and try to produce those products which you can sell easily in your local market.
If you have a good facilities for marketing your products internationally, then you can produce any product from your farm. Otherwise emphasis on local demand. However, make a good decision of what you are going to produce form your goat farming business .
Nowadays goat meat is very popular and has great demand throughout the world. And this rate is increasing rapidly day by day. A report shows that about 70% of total consumed meat globally comes form the goat.
Goat milk is enriched with many necessary nutrition elements and it is easily digestible. As a result it has huge demand in local and international market. Goat milk is also very suitable for making all types of dairy products.
If you want to produce fiber form your farm then Cashmere and Angora goat are very suitable. Both are highly fiber productive.
All goat breeds produce skin. But few of them produce high quality skin. For business purpose Black Bengal goat produces high quality skin. And their skin has a high demand and value in the international market.
Select Right Goat Breed For Your Business
Selecting the right breed for your production is also very important. Because your production will not be profitable if you can’t choose the right breed. There are actually many different goat breeds available throughout the world. Some of these breeds are good for meat, some are good for milk and some are good for both purpose. But you have to choose the right breed for your production.
Best meat goat breeds
If you want to produce meat, then you have to choose from the best meat goat breeds . Some best meat goat breeds are Black Bengal , Boer , Kalahari Red , Kiko , Fainting , Nubian , Rangeland , Sirohi , Spanish , and Verata Goats . You can choose any of these breeds depending on it’s availability in your area. You can also consider local breeds, if there are any.
Best dairy goat breeds
You have to choose from the top dairy goat breeds , if you want to produce milk. Some best dairy goat breeds are Alpine , Saanen , LaMancha , Jamunapari , Toggenburg , Nubian , Oberhasli , Golden Guernsey , Sable and Nigerian Dwarf Goats . You can choose any of these breeds depending on it’s availability in your area. If there are any local breeds in your area, then you can also consider those goats.
Dual-purpose goat breeds
Some goats are good for both meat and milk production, and they are called dual-purpose goat breeds. Some popular dual-purpose goat breeds are Nubian, Alpine, Nigerian Dwarf etc.
Purchase Required Equipment
Most common and required goat farming equipment are fencing, shelter or pen, feeding racks, water, loafing sheds, feeds or silage storage, animal sick bay, and manure handing bay. You can either purchase or DIY some of these equipment.
Goat Housing
You must have to make a good housing system for commercial goat farming business. Try to make separate house for your different types of goats. Ensure all facilities are available for your goats inside the house. Good house also helpful for keeping the goat healthy and free from diseases. Investment in goat housing system is fixed. And you can use one house for several years. So, think wisely before making the house for your goats.
Feeding Goats
Goats are ruminants. They eat almost all types of crops, grains and greens. It will be better if you have a grazing place where your goats can roam freely. Because goats are able to intake most of their required food from pasture.
If you can allow your goats to consume food from natural sources, then it will also reduce your feeding costs.
You can also feed your goats with commercially prepared goat feed. This type of foods are highly nutritious and are able to fulfill all their nutritional demands. But price of commercial feeds are higher. And you can reduce the costing by giving your goats a mix of commercial and natural foods.
Goats are naturally very good breeders. They will breed easily if you keep good ratio of bucks and does in your herd. Generally, 1 buck is enough for breeding 20-30 does. Keep the breeding records in a notebook.
Health & Caring
Always try to raise your goats hygienically. Keep good contact with a vet in your area and ask him/her for help if anything goes wrong. Stock some necessary vaccines and medicines in your farm, if possible. Always vaccinate your goats timely.
Always try to take good care of your goats. And take extra care of the breeding bucks, pregnant doe, nursing doe and the kids.
Special Considerations
Before making a goat farming business, plan consider your budget and some other factor related to this business. How much capital do you have? How many facilities can you provide to your goats with this capital? Which product do you want to produce form your farm? What are the natural facilities available there in your area for goat farming? Is there any market available for selling your products in proper price? Is there any grazing place near your farm? Can you provide provide proper treatment and medicines?
- Do you love goats? Loving the animals that you are raising is very important for success-fullness in any business.
- Do you have any experience in this business? If not, contact with your nearest animal husbandry training centers or visit some farms.
- Do you have enough capital for setting up your farm? You can also apply for bank loan if you don’t have already.
- Do you have enough facilities for goat farming? For example clean and fresh water source, cultivation of green feeds like plants or grasses, proper marketing, medication etc.
- What is the market condition of your location? Try to understand the market demand and price of your products.
- Do you have enough time & interest? This is very important for beginners.
- Can you personally take care of your goats? Don’t depend on labors. Try to take care of your goats personally along with your labors. Learn more about their health and diseases management. If possible visit some farms practically for several days and try to learn everything related to this business.
If all the answers become positive then you should start goat farming business immediately. Wish your happy and profitable goat farming business.
Frequently Asked Questions (FAQ)
Popularity of goat farming business is increasing gradually. That’s why many people are trying to learn more about this business. Especially, the beginners ask us many questions about starting and operating a successful goat farming business. However, here we are trying to list the most common questions and trying to answer them. Hope you will find your answer. Don’t hesitate to ask us if you have more questions.
How to start goat farming business?
Starting a goat farming business is relatively easy. First of all select a good farm area, make a good business plan, choose the right breed, feed your goats with good quality and nutritious food and always try to take good care of your goats.
What is the primary requirement to succeed in goat farming?
An effective and well recharged goat farming business plan will help you achieve much success in goat farming business within short period of time.
Is goat farming really a profitable business?
Yes, sure! Goats are highly efficient for converting low quality foods into high quality meat. Commercial production of goat is more profitable than small scale production.
How much profit do you make on goat?
It’s not possible to tell the exact amount. Because it depends on numerous factors. Please consult with some existing farmers in your area for having more accurate idea.
Which breed of goat is most profitable?
It’s actually depends on your production purpose. If you go for meat production, then Boer, Black Bengal, Kalahari Red, Kiko, Fainting, Nubian, Rangeland, Sirohi, Spanish and Verata goats will be very good for you.
But if you go for milk production, then Alpine, Saanen, LaMancha, Jamunapari, Toggenburg, Nubian, Oberhasli, Golden Guernsey, Sable and Nigerian Dwarf goats will be good for you!
How much money does 100 goats make?
Please visit the goat farming project report on our website for having some ideas.
How can I invest in goat farming?
We recommend having practical knowledge before investing in commercial goat farming business. Try to complete a training first and also try to visit as many farms as you can before starting. Doing this will enhance your knowledge, and you will be able to operate your farm better.
Which is more profitable goats or sheep?
Both are profitable. But goat farming seems to be more profitable than sheep farming .
How much space does 100 goats need?
Around 1500 square feet space.
How much money is required for goat farming?
Depends on the number of goats.
Can I get loan for goat farming?
YES, definitely! You can get loan from most government and non-government banks or NGOs.
How much does it cost to feed a goat daily?
Less than $1 in most cases. Feeding costs actually depends on the type of food you feed to your goats.
What do goats eat on a farm?
Hay is the main source of nutrients for goats apart from their range.
What is the cheapest way to feed goats?
Giving your goats weedy hay is the cheapest way to feed them. Because it is very cheap and contain a large amount of necessary nutrition.
Can a goat live on only grass?
YES! Goats are highly efficient in converting low quality foods to good quality meat. And yes, a goat can live on only grass.
Do goats need grain everyday?
NO! But if you have meat goats, then providing grain daily will be very good. On an average, around half pound of grains per day per goat will be good.
How much water do goats drink daily?
It depends on the size of the breed. Generally a large goat drink between 2 and 3 gallons of water daily. The quantity is less for the smaller sized goats.
Why is salt important for goats?
Goats need salt to help maintain healthy appetite and body weight, whether you are raising goats for milk or meat.
How can I make my goat grow faster?
Feeding the goats grains will help them to grow faster. Especially, feeding the corn and oats will help them to grow faster.
How many kg does a goat eat per day?
Can vary from 1 to 2 kg. Depends on the size of the goat.
How many goats do you need to start a goat farm?
Depends on your budget. The number can vary from just one to hundreds or even thousands of goats.
How do I start a small goat farm?
First of all select a good farm area, make a good business plan, choose the right breed, feed your goats with good quality and nutritious food and always try to take good care of your goats.
Best Natural Way To Feed Goats Healthy Food
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20 thoughts on “best goat farming business plan for beginners”.
hi i have a small business of meat goat (savanna goat) now i want to take it higher because i can see the demand in my community.so i need tips on how to do that.how do i make it work.
Great content and really educative.
Thanks for your honest opinion! Good luck!
I have found this interesting and I am asking for a complete business plan
i find this intresting because i want to start goat business
pls i need the best bread of goat for meat(the name)
i want to begin with Mubende Goat breed, Is it profitable?
Hi, Mahume Sekgala here,i enjoyed the tips and may you supply me with the complete plan, I just want to start the boergoat.
its a nice script that has guided me well on goat farming
Thanks for your honest opinion. Good luck 🙏
great article. i will surely try this out.
Can you help me to do a simplified business plan for goat farming? Thank you
Good morning, I echo the same need with Joubert that of being assisted with a basic or simplified business plan on goat farming. For starters, it would be profitable to farm for meat production. Kind regards, Solomon
Ohhhh Lea life is about trying out things let us make it a plan and start it
I have loved the idea so much and I have picked interest since so I want to start it by 2022 thanks
im interested in goad farming i need some advised
Hi there, Do you offer short courses on goat farming and vaule chain business on goats, Im starting goat farming so excited about the idea.
You have very interesting pointers thank you.
Thanks for the info,but kindly requesting for a goat biz plan specifically for (meat goats)
Type here..Thanks for this nice piece, pls can you help me with a business plan on goat farming? because I want to start the business
I have kiko goats. I am getting more and I would love to start my business just not sure where to start.
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How to Write a Business Plan for Farming and Raising Livestock
Last Updated: August 8, 2019 References Approved
This article was co-authored by Karin Lindquist . Karin Lindquist earned a BSc in Agriculture as an Animal Science major from the University of Alberta, Canada. She has over 20 years of experience working with cattle and crops. She's worked for a mixed-practice veterinarian, as a sales representative in a farm supply store, and as a research assistant doing rangeland, soil, and crop research. She currently works as a forage and beef agriculture extension specialist, advising farmers on a variety of issues relating to their cattle and the forages they grow and harvest. wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 17 testimonials and 93% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 374,919 times.
A business plan is essential to have in place before you seek to start up a farm business, no matter what else you've done by way of preparation. In today's world, animal agriculture is more complex and more variable than it was 100 years ago. There are changing markets, high costs, low profit margins, different ways to raise cattle, and niche markets. The type of business plan you make is up to you, but the following step-by-step process of making a proper business plan will help you in the long run.
- You should be mainly brainstorming about your goals and objectives. [1] X Research source It's much more effective to run any business when you have a goal in mind to reach rather than having vague ideas of "wanting to do something with animals". That's simply not enough, and is certainly not going to get you anywhere fast!
- As you consider your goals, remember that strategy is not the same as marketing. The strategy for your business is how you plan to deliver value to your customers (your "value proposition"), how you intend to you convince potential customers to obtain that value from you by communicating your distinctiveness as a producer (or, what makes you different from other farms or ranches), and why you can deliver that value better than other producers (your performance anatomy). Your marketing plan should explain how you intend to communicate your strategy to your existing and potential customers. [2] X Research source
- Such an analysis is very simple and flexible to use, since you can use it to analyze your personal self, your business, or the industry you are wishing to start a career in.
- Internal forces that you have control over such as what breeds you choose, whether you want to run an intensive or extensive operation, how you feed your animals, etc.
- External forces that you have no control over such as the weather, the topography and soil-type of the land you are farming/ranching on, local, national and international industry issues, market prices, product demand and consumer preferences.
- Also analyze your farm, the land your farm sits on and your family. Ask similar questions as mentioned above, only with your family you will need to ask about times you should have to spend with them, what will happen if you put your farming operation before your family, what you can do to encourage and teach your kids to be involved in your operation, etc.
- The more research about what you're getting into that you do at this stage, the more aware you will be of what to expect when surprises do come. When you finally get started on your business plan, you'll be far more aware of the pitfalls, challenges , needs and requirements it takes to be involved and compete in the kind of livestock/farming operation you want to have.
- Where am I at now? Include a SWOT analysis (see earlier step), for these areas: customers, operations, human resources, and finance . If you don't have a business, a SWOT analysis as mentioned in the previous step is totally fine.
- Personal goals include things like working fewer hours, furthering your education in areas like different commodity markets or accounting and production programs, etc.
- Business goals are focused mainly on the farm unit as a business entity; examples include maximum debt load to carry, possibly owning or controlling x number acres, etc.
- How do I get there? This is the most important part of your business plan, because this is the area where you put on paper how you want to get the things you want for a better you, family and business. Brainstorming is great tool to use in this section, as you can always have a Plan B, C, D, etc., in addition to your Plan A.
- How do I know I have arrived? If you visualize your business plan as a journey, it is not difficult to understand that you will need to measure your progress along the way and determine if you are moving towards your goals, spinning your wheels or rolling backwards. This is done by defining, collecting and reviewing metrics, measurements and Key Performance Indicators on a regular basis in order to validate your plan and decisions, direct your future activities, justify any modifications to the plan and intervene when things are not happening according to the plan. All your goals should be measurable. Metrics and measurements will give you the answer to this important question.
- Vision Statement: A statement of what you or your farm will look like in the next 5 to 10 years.
- Mission: This determines or defines the purpose the organization attempts to perform in society. This statement should concisely explain what the company does, for whom and why.
- Values: These are general standards or guidelines that are important to your farm and farm family.
- Situational Analysis: This is the process of identifying and understanding how your business is positioned within the environment you operate, both internal and external. Step 3 is what this part of the strategic plan is all about.
- Goals: What are the major achievements you would like to accomplish in the next 3 to 5 years?
- Objectives: How do you plan on achieving your goals?
- Critical Success Factors: Areas of performance critical to long-term successes of an organization, and its development, growth and achievement. For each CSF you should define one or more Key Performance Indicators (KPIs), which are metrics you will use to determine if you are achieving your CSFs. CSFs are expressed as general statements of goals ("Maintain customer satisfaction.") while KPIs are more specific ("Decrease in number of product packaging complaints.")
- In a nutshell, you don't have to go through the headache of answering all of the questions posted above. Instead, use the three simple questions above in Step 4 as a means to answer all 8 of these standard business-plan questions.
- Production resources are also important to mention: Land base, Equipment base, and Buildings and Structures.
- Marketing Plan: Where and how will you sell your commodities? Remember, selling is just getting rid of what you have. When you market, you have to plan to sell commodities at a good price.
- Financial Plan: This includes budget analysis, revenues and expenses, debt, unpaid labour, opportunity costs, benchmark analysis of yourself from other operations, statements of cash flow , depreciation of machinery, animals, buildings, etc., wages, family living costs, etc.
- Human Resources plan: Most farms rely on one worker (i.e., the owner) to run the operation. But, nonetheless, human resource plans should highlight hiring issues facing the business and how to address them. It should further describe the kind of people that are required to operate the business (general responsibilities, title, skills, availability and any training programs needed.)
- Plan: Establish the objectives for whatever it is you intend to do, the processes necessary achieve those objectives and the metrics and measurements required to control the processes and prove that the objectives are being achieved.
- Do: Execute the plan and collect metrics and measurements along the way as defined in the previous phase.
- Check: Review the results, metrics and measurements and determine if any improvements can and should be made to the plan.
- Act: Implement the improvements so the next time the process is executed the results will be better.
- Succession Planning . This can be the hardest part of a business plan, as one has to plan what should happen if the main operator is injured or worse, dies. Succession planning includes developing a continuity plan for your business and determining the process of transitioning a business to new owners. This transition may be an outside sale (equipment and land auction sale), or an inheritance sale (passing the business down to the next generation). [7] X Research source
- Proprietorship : This is the simplest form of business organization. It primarily involves one person running the whole she-bang. Debts and negligent acts committed by employees are the responsibility of the proprietor. But, all the legal complications and expenses and negotiations for agreements are not required, nor is a business name required.
- General Partnership : This means two or three people running an operation. With more than one person running a farm, this means that the business must have a registered name, and each partner is responsible for all debts, obligations and liabilities of the operation. This partnership automatically dissolves with a death, bankruptcy, or insolvency.
- Limited Partnership : This is basically one person is responsible for everything in the firm, whereas the other is only there to supply capital, nothing more or less. A limited partner has no active part in the goings-on of an operation, but he may inspect the books of the firm and advise management.
- Co-ownership : This is where two or more persons own property jointly.
- Joint Venture : This is commonly used in farming, where there is a joint partnership between parties, and is created in order to conduct a specific or limited commercial venture without creating a partnership. This is commonly a temporary arrangement between two parties.
- Corporations : These are legal entities where shareholders own the corporation through the ownership of shares. It is a separate legal entity, distinct from its shareholders. The individual shareholder's liability is limited to that person's investments in the corporation, unless the shareholder has personally guaranteed the obligations of the corporation. A corporation can provide very flexible framework in terms of succession to the next generation. The owner may also give employees shares in the growth and profit of the operation without giving up management rights of a partner.
- Trust: This is a relationship where legal ownership of the property is separated from beneficial ownership of the property.
Community Q&A
Video . By using this service, some information may be shared with YouTube.
- Ask for help when writing a business plan. Get a professional business analyst or someone similar with lots of experience analyzing and writing up such plans so they can help you if and when you are stuck on a particular section. ⧼thumbs_response⧽ Helpful 32 Not Helpful 5
- A business plan is good to have when signing on for a loan at the bank. They will be more interested in the financial portion of your business plan, because they need to see how it will affect them in terms of what they can get out of it in terms of money. ⧼thumbs_response⧽ Helpful 29 Not Helpful 9
- Put everything in writing. Nothing's worse than not writing something down and suddenly forgetting it. Also, have a separate file folder for thus business plan so you know where it is and where you can access it in the future. If you have it on the computer, save it on a hard drive or a data stick so if your computer crashes on you and you can't get your work back up, you have it saved on a separate disk. ⧼thumbs_response⧽ Helpful 28 Not Helpful 10
- Don't go in over your head and attempt to write out a business plan in one sitting. It may take a week or more before you get it all done, so take your time. Indeed, many established businesses started by spending six months or more preparing business plans; rushing will simply harm your business in the long run. ⧼thumbs_response⧽ Helpful 11 Not Helpful 2
- Don't think that you won't have to look at your business plan ever again for the rest of the time you are running your operation. You should always try to analyze what yourself and your business at least once a year to know where you are struggling and where you are doing great. ⧼thumbs_response⧽ Helpful 1 Not Helpful 2
Things You'll Need
- Computer text program or paper/notepad and pens
- Printer if you want hard copies of computer documents
- Research tools such as the internet, local library, libraries of agricultural bodies, etc.
- Phone numbers of people in the industry that you're interested in so that you can ask any important questions
- Books or websites on making business plans (but don't over-complicate things)
- Books on information about certain livestock interested in raising
- Newspapers and magazines of industry news and events in your area or the area you are interested in pursuing your farming career
You Might Also Like
- ↑ https://grasshopper.com/academy/developing-a-business-plan/brainstorming-tips/
- ↑ https://www.forbes.com/sites/michaelskok/2013/06/14/4-steps-to-building-a-compelling-value-proposition/
- ↑ https://www.business.qld.gov.au/starting-business/planning/market-customer-research/swot-analysis/conducting
- ↑ https://www.agriculture.com/farm-management/business-planning/do-a-swot-analysis-on-your-farm
- ↑ https://keydifferences.com/difference-between-strategic-planning-and-operational-planning.html
- ↑ https://fitsmallbusiness.com/business-succession-planning/
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Home » Business Plans » Agriculture Sector » Livestock Farming
How to Write a Goat Farming Business Plan [Sample Template]
Are you about starting a goat farm? If YES, here is a complete sample goat farming business plan template & feasibility study you can use as a beginner for FREE . Okay, so we have considered all the requirements for starting a goat farming business . We also took it further by analyzing and drafting a sample goat farming marketing plan template backed up by actionable guerrilla marketing ideas for goat farming businesses. So let’s proceed to the business planning section.
Why Start a Goat Farming Business?
If you are looking to start a goat farm, then you may want to consider it because of the following reasons. Are you considering going into goat farming business? You really should because of the following facts; Goat meat is in high demand. People love goat meat especially in Africa. So, you won’t have a hard time selling your goats.
Goats also have other uses apart from consumption of the meat. The skin of goats is a very good source of leather which can be used to make bags, shoes and other leather materials. Goat milk is also very nutritious and good for consumption. It is also used in the cosmetic industry to make body creams. Goat offal is also used in the pharmaceutical industry.
Goats are cheaper and easier to feed, making you spend very little on feeding them. Goats can feed on grass and other cheap food items. You could also manage them quite easily as they require very minimal supervision. Goat droppings are also a very good source of manure for people interested in buying organic manure.
Lastly, you can raise goats on very little capital compared to chicken or poultry farming. Goat farming is very easy and also very profitable but it is important to get enough information before you delve into this business to avoid mistakes and losses. This is a very quick guide on how to start goat farming.
A Sample Goat Farming Business Plan Template
1. industry overview.
The agricultural industry of which livestock farming or better still goat farming is a subset of is no doubt among the leading industry in most countries of the world; it is the industry that produces food for the populace and raw materials for industries.
Because of the significant role the agriculture sector plays, the government of most countries ensures that they go all the way to subsidize seedlings, fertilizers, and farming implements and machinery for farmers and also encourage entrepreneurs to go into various kind of farming including goat farming.
There are several business opportunities available in the agricultural industry and one good thing about the industry is that there is market for all the produce from the industry. Goat farming is of course a thriving and profitable business because usefulness of goat meat and other by products from goats.
People eat goat meat, drink their milk, and use their fur and skin. With goat milk, cheese can be made, along with other dairy products. Some farmers use goats for weeding farmland. Other times, the goats are used to keep grasses and other plants from getting too tall. The diet of the domestic goat includes eating grass, leaves, shrubs, root vegetables, and other kinds of plants.
Goats come in different breeds with each breed having its own unique specifications and uses. Some goat breeds known as ‘dairy goats’ are raised mainly for the milk that they produce while some other breeds can grow very big and fat, hence, they are raised for meat purposes.
You must first decide on why you want to raise goats and then select a breed that is most suitable for that purpose. You could also raise both dairy goats and regular goats if you can afford to feed and care for them. The livestock production industry includes companies that mainly provide support services for raising livestock.
Livestock is a term used to describe domestic animals, such as cattle, goats, hogs, horses, poultry and sheep, which have been domestically raised for meat, milk, wool and work. Other services in the livestock production industry include breeding services, pedigree record services and vaccination et al.
The Livestock Farming (Goat Farming) industry is indeed a large industry and pretty much active in countries such as United States of America, Israel, Egypt, China, Germany, Turkey and Nigeria et al. There is no single livestock farming company that has dominate market share in the industry hence smaller goat farming business can successfully make profits.
Statistics has it that in the united states of America alone, there are about 51,712 registered and licensed livestock farming business responsible for employing about 67,814 and the industry rakes in a whooping sum of $5 billion annually. The industry is projected to enjoy 1.4 percent annual growth.
If you are looking towards leveraging on the agriculture industry to generate huge income, then one of your best bet is to start goat farming business. Goat farming business is all about mass – breeding of goats for the sole aim of making profits. In most cases it is referred to as livestock farming business.
One thing is certain about goat farming business, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to sell your goats because there are loads of people out there we eat goat meat, drink goat milk and industries that make use of byproducts from goats in manufacturing their products.
Over and above there are few barriers to entry into the livestock production industry. Usually, all inputs are readily available. In the nearest future, players in this industry may face the highest costs associated with accessing technology, especially in relation to genetic modification engineering in livestock breeding.
So also, intellectual property rights protecting new inventions and technology may mean that new entrepreneurs coming into the industry will need to pay license fees and this of course will cause increase in the start – up fee for starting a livestock breeding business.
2. Executive Summary
Jonah Livingston and Family Farms Ltd is a registered and licensed livestock farming company that will be based in the outskirt of Dallas, Texas – United States. We have done our detailed market research and feasibility studies and we were able to secure a hundred hectares of land to start our livestock breeding business.
Our livestock breeding business is a going to be standard one hence will be involved in commercial breeding of goats and other livestock. We will be involved in boarding services, breeding services, dairy support services, livestock health services, farrier services, and shearing services et al.
In the nearest future, hopefully within the first five years of officially running Jonah Livingston and Family Farms Ltd, we will start our meat processing plant and also start exporting our products to other parts of the world.
Which is why aside from the fact that we’ve secured the required farming land for breeding goats in commercial level, we have also hired some key employees who are currently undergoing training so as to be able to fit into the ideal picture of the 21 st century livestock breeding workforce that we want to build.
We are in the goat farming business because we want to leverage on the vast opportunities available in the livestock farming industry, to contribute our quota in growing the U.S. economy, in national food (meat) production, raw materials production for industries, to export agriculture produce from the United States to other countries and over and above to make profit.
Jonah Livingston and Family Farms Ltd is well positioned to become one of the leading goat farming business in the United States of America, which is why we have been able to source for the best hands and equipment to run the business.
We have put process and strategies in place that will help us employ best practices when it comes to livestock breeding / goat farming processes and meat processing and packaging as required by the regulating bodies in the United States of America.
Jonah Livingston and Family Farms Ltd is a private registered livestock farming company that is owned by Jonah Livingston and family. The company will be fully and single handedly financed by the owner – Jonah Livingston and his immediate family members at least for a period of time.
Before starting Jonah Livingston and Family Farms Ltd, Jonah Livingstone has worked with some of the leading livestock farms in the United States of America. He has worked in the industry for well over 10 years before resigning to start his own goat farming business.
3. Our Products and Services
Jonah Livingston and Family Farms Ltd is a licensed livestock farming business that is committed to goat farming and meat processing and packaging for both the United States’ market and the global market. We will also produce related raw materials for industries in commercial quantities.
We will also ensure that we operate a standard food processing plant as part of our complimentary business offering. These are the areas we will concentrate on in our livestock farming business. If need arises we will definitely add more related animal breeding services to our list;
- Boarding services
- Breeding services
- Dairy support services
- Livestock health services
- Farrier services
- Sale and export of cotton wool and other dairy products
- Sale of Cattle and milk (Including goats, sheep, grass – cutters, pigs and rabbits et al)
- Sale of processed meat (beef) / can – beef (Processed Diary foods, and can beef et al)
- Shearing services
- Livestock farming related consultancy and advisory services
4. Our Mission and Vision Statement
- Our Vision is to become one of the leading livestock farming brands not just in Dallas – Texas, but also in the United States of America.
- Our mission is to sell our produce (goats), byproducts and processed meat in commercial quantities both locally, nationally and internationally.
- We want to build a livestock farming business that can favorably compete with other leading livestock farming brands in the United States of America.
Our Business Structure
Jonah Livingston and Family Farms Ltd is a livestock farming company that intend starting small in Dallas – Texas, but hope to grow big in order to compete favorably with leading livestock farms in the industry both in the United States and on a global stage.
We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands in and around Dallas.
At Jonah Livingston and Family Farms Ltd, we will ensure that we hire people that are qualified, hardworking, dedicated, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the management of the farm. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
Below is the business structure of Jonah Livingston and Family Farms Ltd;
- Chief Operating Officer
General Farm Manager
Administrator / Accountant
- Cattle Ranch Manager / Supervisor
- Sales and Marketing Executive
- Field Employees
- Front Desk Officer
5. Job Roles and Responsibilities
Chief Operating Officer:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Responsible for providing direction for the business
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for the planning, management and coordinating all farm activities across the various sections on behalf of the organization
- Supervise other section manager
- Ensure compliance during project executions
- Providing advice on the management of farming activities across all section
- Responsible for carrying out risk assessment
- Using IT systems and software to keep track of people and progress of the growth of crops, fishes, birds and animals
- Responsible for overseeing the accounting, costing and sale of farm produce after harvest
- Represent the organization’s interest at various stakeholders meetings
- Ensures that farming goals desired result are achieved, the most efficient resources (manpower, equipment, tools and chemicals et al) are utilized and different interests involved are satisfied. Responsible for preparing financial reports, budgets, and financial statements for the organization
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversee the smooth running of the daily farming activities across the various farming sections.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Responsible for financial forecasting and risks analysis.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Cattle Ranch and Animal Manager / Supervisor
- Responsible for managing the commercial breeding of goats and other livestock.
- Responsible for managing boarding services, breeding services, dairy support services, livestock health services, farrier services, and shearing services et al.
- Work closely with the General Manager to achieve the organizations’ goals and objectives
Sales and Marketing Officer
- Identify, prioritize, and reach out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of new business
- Writing winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develop, execute and evaluate new plans for expanding increase sales
- Document all customer contact and information
- Represent the company in strategic meetings
- Help increase sales and growth for the company
Field Workers / Contract Staff
- Responsible for feeding goats and other livestock as instructed by the supervisor
- Responsible for cleaning the cattle ranch
- Change the water in fish ponds as instructed by the supervisor on a regular basis
- Handles farm implements and machines as instructed by the section manager / supervisor
- Assist in handling the breeding of goats
- Carries out task in line with the stated job description
- Assist in transport working tools and equipment from the farm and back to the designated store room
- Handles any other duties as assigned my the line manager
Client Service Executive / Front Desk Officer
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
- Receives parcels / documents for the company
- Distribute mails in the organization
6. SWOT Analysis
Jonah Livingston and Family Farms Ltd do not intend to launch out with trial and error hence the need to conduct a proper SWOT analysis. We know that if we get it right from the onset, we would have succeeded in creating the foundation that will help us build a standard goat farming business that will favorably compete with leading livestock farms in the United States of America and in the rest part of the world.
As a goat farming business, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Jonah Livingston and Family Farms Ltd;
Our strength as a livestock farming business is the fact that we have healthy relationships with loads of major players (agriculture merchants) in the livestock farming industry; both suppliers and buyers within and outside of the United States.
We have some of the latest livestock farming machines, tools and equipment that will help us breed goats and other livestock in commercial quantities with less stress. Aside from our relationship (network) and equipment, we can confidently boast that we have some the most experienced hands in livestock farming industry in our payroll.
Our weakness could be that we are a new livestock farms in the United States and we may not have the required cash to pump into the publicity of our business. We are aware of this and from our projection will overcome this weakness with time and turn it to a major advantage for the business.
- Opportunities:
The opportunities that are available to us cannot be quantified, we know that there are loads of homeowners, and industries that will source for goats, goat meat, and milk and also industries that will source for the raw materials from our livestock farms both in the United States of America and other parts of the world.
Some of the threats and challenges that you are likely going to face when you start your own livestock farm are global economic downturn that can impact negatively on household spending, bad weather cum natural disasters (draughts, epidemics), unfavorable government policies and the arrival of a competitor (a commercial farm that rear same animals) as our livestock farms within same location.
There is hardly anything you can do as regards this threats and challenges other than to be optimistic that things will continue to work for your good.
7. MARKET ANALYSIS
- Market Trends
One of the common trends in the commercial livestock farming line of business is that most players in the industry are no longer concentrating only on farming a particular species of livestock or just livestock / goat farming alone.
They now find it easier to run both livestock farming and crop cultivation. Some even go ahead to include meat processing and packaging business alongside their product offerings; it helps them maximize profits in the agriculture industry.
Despite the fact that commercial goat farming / livestock farming has been in existence since time immemorial, that does not in any way make the industry to be over saturated; commercial goat farmers are exploring new technology to continue to improve goat farming processes and also meat preservation and packaging process. The fact that there is always a ready market for commercial goat farming makes the business ever green.
As a matter of fact, one of the new trends in livestock farming industry is that with the recent advancement in technology livestock farmers can now improve the various breeds of the animals they are breeding.
As a matter of fact, it is now easier for livestock farmers to comfortably import the kind of breed of domestic animal they want to breed from any country of their choice and also advancement in technology has made it easier to cross – breed different animal.
8. Our Target Market
Naturally, the target market of those who are the end consumer of livestock farm produce and also those who benefits from the business value chain of the agriculture industry is all encompassing; it is far – reaching.
Every household consumes produce from livestock farms be it goat meat, goat milk, and the skin (leather) used for bags, belts and shoes production et al. So also a large chunk of manufacturing companies depends on livestock farms for some of their raw materials. In essence a goat farmer should be able to sell his or her farm produce to as many people as possible.
We will ensure that we position our business to attract consumers of agriculture produce not just in the United States of America alone but also other parts of the world which is why we will be exporting some of our farm produce either in raw form or processed form to other countries of the world.
Our Competitive Advantage
It is easier to find entrepreneur flocking towards an industry that is known to generate consistent income which is why there are more commercial farmers in the United States of America and of course in most parts of the world.
For example, Statistics has it that there were 2.2 million farms in the United States of America, covering an area of 922 million acres. These goes to show that there are appreciable numbers of farmers in the United States of America but that does not mean that there is stiffer competition in the industry.
As a matter of fact, entrepreneurs are encouraged by the government to embrace commercial farming / livestock farming. This is so because part of the success of any nation is her ability to cultivate her own food and also export foods to other nations of the world.
Jonah Livingston and Family Farms Ltd is fully aware that there are competitions when it comes to selling livestock and meats all over the globe, which is why we decided to carry out thorough research so as to know how to take advantage of the available market in the United States and in other parts of the world.
We have done our homework and we have been able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors are effective and reliable livestock farming processes that can help us sell our livestock and processed meat at competitive prices, good network and excellent relationship management.
Another competitive advantage that we are bringing to the industry is the fact that we have designed our business in such a way that we will operate an all – round standard commercial livestock farms that will be involved in diverse areas such as animal rearing and meat processing and packaging plant. With this, we will be able to take advantage of all the available opportunities within the industry.
Lastly, our employees will be well taken care of, and their welfare package will be amongst the best in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our objectives as a standard commercial livestock farms with a meat processing and packaging plant.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Jonah Livingston and Family Farms Ltd is in the livestock breeding industry for the purpose of maximizing profits hence we have decided to explore all the available opportunities within the industry to achieve our corporate goals and objectives. In essence we are not going to rely only on the sale of our livestock to generate income for the business.
Below are the sources we intend exploring to generate income for Jonah Livingston and Family Farms Ltd;
10. Sales Forecast
From the survey conducted, we were able to discover that the sales generated by a commercial livestock farm depends on the size of the farm, the network of the farm.
We have perfected or sales and marketing strategies and we are set to hit the ground running and we are quite optimistic that we will meet or even surpass our set sales target of generating enough income / profits from the year of operations and build the business from survival to sustainability.
We have been able to critically examine the agriculture industry cum commercial livestock farm business and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some workable assumptions as well with respect to the nature of commercial livestock farm that we run.
Below are the projections that we were able to come up with for the first three years of running Jonah Livingston and Family Farms Ltd;
- First Year-: $200,000
- Second Year-: $450,000
- Third Year-: $700,000
N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown that can impact negatively on household spending, bad weather cum natural disasters (draughts, epidemics), and unfavorable government policies.
- Marketing Strategy and Sales Strategy
We are quite aware that the reason why some commercial livestock farms hardly make good profits is their inability to sell off their livestock to a larger market. In view of that, we decided to set up a standard meat processing and packing plant to help us maximize profits.
Over and above, we have perfected our sale and marketing strategies first by networking with agriculture merchants and companies that rely on raw materials from the livestock farming industry who are likely to refer become our customers.
In summary, Jonah Livingston and Family Farms Ltd will adopt the following strategies in marketing our commercial farm produce;
- Introduce our business by sending introductory letters alongside our brochure to stake holders in the agriculture industry, companies that rely on the livestock farming industry for their raw materials, hotels and restaurants and agriculture produce merchant et al.
- Advertise our business and livestock farms in agro – allied and food related magazines and websites
- List our commercial livestock farms on yellow pages ads (local directories)
- Attend related agriculture and food expos, seminars, and business fairs et al
- Leverage on the internet to promote our business
- Engage in direct marketing
- Encourage the use of Word of mouth marketing (referrals)
11. Publicity and Advertising Strategy
Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.
We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our commercial livestock farming business. Below are the platforms we want to leverage on to boost our commercial livestock farm brand and to promote and advertise our business;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our business
- Install our Bill Boards on strategic locations all around Dallas – Texas
- Engage in road show from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- Contact corporate organizations and residence in our target areas by calling them up and informing them of Jonah Livingston and Family Farms Ltd and the farm produce we sell
- List our commercial livestock farms in local directories / yellow pages
- Advertise our commercial livestock farms in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well branded with our company logo et al.
12. Our Pricing Strategy
Some of the factors that will help you sell your farm produce at the right price that will guarantee that you make profits is dependent on your strategy while some of the factors are beyond your control. For example, if the climatic condition is unfavorable and if there are natural disasters in the location where you have your commercial livestock farm, then it will directly affect the prices of your livestock.
Over and above, if you want to get the right pricing for your livestock, then you should ensure that you choose a good location for your commercial livestock farm, choose a good breed that will guarantee steady and multiple breeding (prolific breeds), cut the cost of running your farm to the barest minimum and of course try as much as possible to attract buyers to your farm as against taking your livestock or even your produce to the market to source for buyers; with this, you would have successfully eliminate the cost of transporting the goods to the market and other logistics.
We are quite aware that one of the easiest means of penetrating the market and acquiring loads of customers for all our agriculture produce is to sell them at competitive prices hence we will do all we can to ensure that the prices of our livestock and processed and packaged beef are going to be what other commercial livestock farmers would look towards beating.
One thing is certain; the nature of commercial livestock farming we are involved in makes it possible for farmers to place prices for their livestock / farm products based on their discretion without following the benchmark in the industry. The truth is that it is one of the means of avoiding running into loss. The easier you sell off your livestock when they are mature the better for your business.
- Payment Options
The payment policy adopted by Jonah Livingston and Family Farms Ltd is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Nicolas Zebedee and Farms Limited will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part.
13. Startup Expenditure (Budget)
When it comes to calculating the cost of starting a commercial livestock farm, there are some key factors that should serve as a guide. The most important expense is the construction of the cattle ranch / cages / fencing as the case may be. For example, the start – up cost for a fish farm is different from the start – up cost for mechanized crop farming, so also the start – up cost for poultry farming is different from the start – up cost of cattle ranch (dairy farm) et al.
As a matter of fact, if you choose to start a mechanized crop farming, then you should be willing to raise huge capital base to start the business. This is so because some cultivation machines / equipment can be pretty expensive. Below are some of the basic areas we will spend our start – up capital in setting up our commercial livestock farm;
- The Total Fee for incorporating the Business (aquaponics commercial farm) in United States of America – $750.
- The budget for key insurance policies, permits and business license – $2,500
- The amount needed to acquire / lease a farm land – $50,000
- The amount required for preparing the farm land (for construction of cattle ranch and cages / fencing et al et al) – $70,000
- The cost for acquiring the required working tools and equipment / machines / fencing et al– $50,000
- The amount required for purchase of the first set of goats and other livestock – $50,000
- The Cost of Launching an official Website – $600
- The amount required for payment of workers for a period of 3 months – $100,000
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,000
Going by the report from detailed research and feasibility studies conducted, we will need an average of $350,000 to start a standard commercial livestock farming business in the United States of America.
Generating Funding / Startup Jonah Livingston and Family Farms Ltd
No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. Finance is a very important factor when it comes to starting a business such as greenhouse commercial farming. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.
Jonah Livingston and Family Farms Ltd is a family owned business and it will be financed by the owners of the company – Jonah Livingston and family. These are the areas where we intend sourcing for fund for Jonah Livingston and Family Farms Ltd;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $100,000 (Personal savings $80,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Jonah Livingston and Family Farms Ltd is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to sell our farm produce ( livestock and processed beef ) a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Jonah Livingston and Family Farms Ltd will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our organization’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more as determined by the management of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Leasing of farm land in Dallas – Texas: Completed
- Conducting Feasibility Studies: Completed
- Start – up Capital Generation: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Building /construction of cages and fence et al: In Progress
- Purchase of the needed working tools, machines and equipment: Completed
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Farm land Treatment, Health and Safety Arrangement: In Progress
- Establishing business relationship with key players in the industry (agriculture farm produce merchants and transporter / haulage): Completed
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