A written business plan is often a requirement for farm or ranch financing.
Without a plan in place, your ranch could be moving forward without direction.
Karisha Devlin, a University of Missouri Extension agriculture business specialist, says, “You are saying who, what, when and where as far as what you produce, how you are going to market it and the financing behind your business.”
Putting plans on paper can help get all family members and employees on the same page, can help acquire financing from an agricultural lender, and can provide a clear-cut idea of where the operation is headed.
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