One of the most important tasks any business faces, whether new or existing, is writing and updating a business plan. A good business plan will help you make sound business decisions. If you’re considering expansion or seeking financing from a lender, having an updated business plan is an especially critical piece of your business.
Do you know what your lender will want to see in order to fund your new or expanding business?
Another opportunity to develop a business plan is offered by the University of Wisconsin’s School for Beginning Dairy and Livestock Farmers Program. This program offers classroom instruction, with options for distance learning. While production issues are covered, the emphasis is on good business planning. In lieu of a final exam, the students present their own business plan for their start-up business. Opportunities are provided for internships on farms after completion of the course work.
As with any business, it is important to research the industry before investing your time and money in starting a new operation. In many cases, the sources of business planning assistance listed above will be able to help you with this research to some degree.
The more information you can find, however, the better prepared you’ll be to make a big decision about how a goat business may affect you and your family.
The University of Wisconsin Center for Dairy Profitability develops, coordinates, and conducts effective interdisciplinary educational and applied research programs emphasizing business management, human resource management, production systems, finance and marketing systems that enhance dairy profitability.
Founded in 1991, the Babcock Institute acts as a crossroads for international dairy activities at the University of Wisconsin. The Babcock Institute’s mission is to help the dairy industry of Wisconsin and the United States by linking it with dairy industries around the world. We do this through collaborative research, market and trade analysis, and education.
Wisconsin Department of Agriculture Trade and Consumer Protection
Several representatives on staff can assist you in developing a business plan that will make you farm economically profitable. Whether you are looking at starting a dairy goat operation or you are in your 10th year, our financial experts can provide feasibility analysis and evaluate performance numbers to increase efficiency and profitability.