Creating a Farm Plan: A Guide for New and Small Farmers

Starting a farm, no matter how small, is an exciting venture. Whether you're raising a few cows or planning a diverse small-scale operation, a well-thought-out farm plan is crucial. Not only is it often required by lenders, but it also serves as a roadmap for your agricultural journey. Let's break down how to create a simple yet effective farm plan.

What is a Farm Plan?
A farm plan is a document that outlines your farming intentions and goals. It's typically 1-2 pages long but can be as brief or detailed as needed to fully capture your vision. This flexible tool adapts to the scope and complexity of your unique farming operation. 

1. Introduction
Start with a brief description of your farming venture. What do you plan to produce? How will you market and sell your products? This section gives readers a quick overview of your farm business.

2. Experience
Are you new to farming, or do you have experience in this specific type of agriculture? Be honest about your background – everyone starts somewhere!

3. Location
Specify where you'll be farming. Are you using the land you own, land you're leasing, or planning to purchase a property? This information helps contextualize your operation.

4. Management
Will you be the sole farmer, or do you plan to hire employees? Outline your management structure, even if it's just you who will be wearing all the hats for now.
 

5. Finances
Provide a basic projection of your income and expenses. This doesn't need to be complex – a simple breakdown of expected costs and revenues is sufficient.
 

6. Short-term and Long-term Goals
Outline your goals for the present and the future (5-10 years from now). This helps demonstrate your vision and commitment.

Additional Considerations for Purchasing Existing Operations: 
If you're taking over an established farm, consider including these additional points:
- Management Changes: Will you keep the existing management structure or implement changes?
- Marketing and Customers: Do you plan to maintain the current customer base or explore new markets?
- Historical and Projected Finances: Include both past performance and future projections.
- Growth Plans: Mention any ideas for expansion or diversification.
- Industry Trends: Briefly note any relevant trends in your specific agricultural sector.

Tips for Success
1. Keep it Simple: Don't overwhelm yourself with unnecessary details. Focus on the key aspects of your farm.
2. Be Realistic: Set achievable goals based on your resources and experience.
3. Show Passion: Let your enthusiasm for farming shine through in your plan.
4. Update Regularly: As your farm grows and changes, revisit and update your plan.
 

Remember, your farm plan is a living document. It's okay if things change – the plan is there to guide you, not restrict you. Whether you're starting with a small herd of cattle or a diverse vegetable garden, a well-crafted farm plan can help set you on the path to success. Need help getting started? Don't hesitate to reach out to Farm Credit of Central Florida for guidance. We're here to support your farming dreams, no matter how big or small!

To watch our video, click here.