12 Tips on How To Start Your Own Livestock Farm
Before starting your own animal farm, there are certain rules and regulations you’d need to understand. There are multiple types of farms that all requires different needs – thus the regulations are not uniformed for all types of farms. More so, the development of technology overtime has contributed to the farm’s changing requirements.
Regardless of the changing environment, it is important that every breeder and farmer follow a set of blueprints to get things started well. A given set of rules made before farming could also help farmers and breeders map out the growth of their farms. So, without further ado, here are 12 tips on how to start your own livestock farm.
1. Write Your Thoughts
Before constructing any coherent thoughts on how to start, it is important that you have prepared writing materials to jot down your thoughts. Studies may have vouched that physically writing your thoughts subconsciously encourages you to take further action. If you’re one that requires constant motivation, preparing said stationeries is worth a shot to try.
Considering the development of technology overtime, farmers and breeders now are able to utilise digital programs such as word and one note to jot down their thoughts. Regardless of its medium, breeders and farmers are encouraged to keep track of any important notes for references.
2. Get Inspired
If you look closely, inspiration can be found anywhere and everywhere. With the help of the development of technologies, there are now many ways to find these inspirations. Get involved in communities that have the same interests – with the help of the internet, getting in touch with people alike has never been easier. Read previous publication and books as well for any spark of new ideas. The possibilities are endless, just be sure to note them down for future references.
3. SWOT Analysis
The SWOT analysis is a business tactic that allows you to map out your business’ strengths, weaknesses, opportunities, and threats. This is an important tactic to adopt before launching the business to create a plan to help and anticipate any unexpected outcomes.
A SWOT analysis is made in a form of a four squared chart that is titled: Strengths, Weaknesses, Opportunities, and Threats. Then, list down as many points as you could think of within each square.
4. Determine Ownership of Farm
In any business, there are several types of ownership system, which lists the following: Individual company, firm, alliance partnership, joint partnership, joint venture, limited liability company, and trust. They individually have different needs and rules, and could be summarised as follows:
- Individual Company: the business is run and managed by one person, as the name suggests
- Firm: the business is run by two or three people – and the costs is spread evenly. Once someone leaves the commitment, the business will no longer be operational.
- Alliance Partnership: the business’ responsibilities is separated into two groups: one group invests and contributes fully to the company costs, the other run and maintains its performance.
- Joint Partnership: Similar to a firm, a joint partnership business requires the commitment of two or more people. However, when one chooses to back out, the company is able to replace the other with an eligible candidate.
- Joint Venture: this business is run by two or more parties. However, unlike joint partnership and firms, this business is relatively short termed and temporary.
- Limited Liability: an external group is entitled to own a part of the business through the investment of shares. Otherwise, the business is maintained by their internal group.
- Trust: in this business structure, the legal rights to the enterprise is excluded off the legal rights to the profit gained.
5. Interconnected and Interchanging System
Changes within a business system is inevitable. When it happens, be sure that your farming business is flexible enough to adapt to these changes. Plan them months before execution, which allows plenty of time for farmers to adjust and anticipate. Don’t miss out on making back up plans.
6. Operational Plan
It is crucial for breeders to construct an operational plan on how they would run their farms. The operation plan should be as intricate as possible – discussing every possible aspect of what makes up a business. The other four things out of the five breeders must consider are: production plan, marketing plan, financial plan, and human resources plan.
7. Production Plan
A production plan is utilise to keep track on what is needed to be harvested, packaged, and sold. This is to ensure that your business reaches an adequate profit level and that they do not give out more costs than necessary. For farmers breeding livestock, a production plan would consists tallying up the numbers of offsprings as well as noting down their overall health and sufficiency.
For both plant and animal based farmers, noting down the designated living spaces could also help you measure the amount of necessities needed to run the farm. This could also be used to estimate the farm’s maximum potential.
8. Marketing Plan
In order to gain profit, breeders should ensure that they market their produce well. To identify the right price that varies according to their demands, breeders should commit to a marketing plan that surveys and researches breeders alike. This is done to understand the market demands and construct a marketing strategy that helps profit the business to their maximum.
9. Financial Plan
Arguably the most important plan needed to be constructed, breeders should be able to make a financial plan that monitors their outcomes and incomes. This is done by noting down their expenses and weighing it down with the net profit that they’d gain. Breeders should consider external factors (that have been explored using the SWOT analysis) that could hinder their expenses.
10. Human Resources Plan
A large influential factor to a business’ success is the commitment and quality of their human resources. Due to this, it is crucial that owners of a farming business have a fixed regulation that allows them to narrow down the human resources to those with the right quality. This allows you to save time and energy – and by hiring adequate human resources based on their experiences and skills.
11. Quality Assurance
Quality assurance and control is necessary to produce a uniformed high-quality produce from their farm. Breeders are required to adopt a QA system that constantly monitors the overall health and quality of their produce. In the off chance that breeders spot alarming signs that could foster into dangerous illnesses and diseases, direct action to prevent the development can take place immediately.
12. Success Plan
The last step, and certainly not the least important, is to develop a success plan for future harvests. This can only be done once your business has been launched and have made great movements. The purpose of this plan is to continue the business by utilising a plan that optimises the quality of the farm.
So there you have it, 12 tips on how to start your own livestock farm. Note that these are just general tips, and that every farm has their own needs. It takes more research to know whats best for your own farm. We hope this article could be of good use, and good luck!