Writing a Business Plan
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.
Assessing Financial Viability
Beginning January 1, 2008 a group of agricultural professionals will be gathering financial data from at least 15 dairy goat operations in Wisconsin. The data will be analyzed and a farm profitability report will be returned to each of the cooperating producers. More importantly, the data will be compiled into a report that will offer profitability benchmarks against which producers will be able to compare their farms. While this information will be valuable to existing producers, it will also help potential start-up operators decide whether or not to enter the business.
WisconsinDairyGoatFinancialProjectfactsheet.doc
Need ideas or help with a business plan?
Do you know what your lender will want to see in order to fund your new or expanding business?
- Information on general business planning is available from your local UW-Extension office. Often, the local agent can assist in the development of a business plan.
- Another good resource for information and assistance in developing a plan is your local Farm Business and Production Management program at your local Wisconsin Technical College.
- Wisconsin's Dairy Business Innovation Center provides technical assistance in developing a business plant to producers and processors.
- The Center for Integrated Ag Systems (CIAS) has detailed information on developing an enterprise business plan.
- Your local area development agency can also provide information and/or assistance with business planning.
- 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.
Researching the Dairy Goat Industry
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.
Start-Up Guide
Coming soon!! A start-up guide for farmers new to dairy goat production is currently in the writing stage. Once completed, it will be available both in hard copy and on this website. A second guide for expansion farmers will be published in 2008. Watch this site for more information.
UW Center for Dairy Profitability
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.
Contact:
University of Wisconsin - Madison
1675 Observatory Drive
266 Animal Science Building
Madison, WI 53706
Phone: (608) 263-5665
Fax: (608) 263-9412
Email: Dairyprofit@calshp.cals.wisc.eduUW-Extension
A great resource for farm information and research. The UW-Extension is a great starting point, along with the Wisconsin Dairy Goat Association, when you have a question.
Contact:
UW-Extension headquarters
432 N. Lake Street
Madison, WI 53706
(608) 262-3980 or (608) 265-9317The Babcock Institute
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.
Contact:
General Questions and Orders:
Rm. 240 Agriculture Hall
1450 Linden Dr.
Madison, WI 53706-1562 USA
Phone: (608) 265-4169
Fax: (608) 262-8852
babcock@cals.wisc.eduShort Courses, Research, Subgrants, Distance Education and Outreach Opportunities:
Karen Nielsen
(608) 265-4169
knielsen@cals.wisc.edu
Wisconsin Department of Agriculture Trade and Consumer ProtectionSeveral 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.
Contacts:
Carl Rainey
Bureau of Agri-Business Development
Carl.rainey@wisconsin.gov
(608) 224-5139Paul Dietmann
Bureau Director, Farm and Rural Services
Paul.dietmann@wisconsin.gov
800-942-2474Roger James
Financial Analyst, Farm and Rural Services
roger.james@wisconsin.gov
800-942-2474Wisconsin Dept. of Agriculture, Trade & Consumer Protection
2811 Agriculture Dr.
P.O. Box 8911
Madison, WI 53708