Having a farm business plan can serve as a guide for your farming business. If capital is needed, the business plan can help acquire a loan from a bank, individuals and even organizations that give grants. Writing a farm business plan can be a herculean task but breaking it down into sections help simplify the whole process.
A business plan is a written guide for your business. It should contain what you want to offer and how you intend to offer it. Documenting your farm business plan aids in the creation of the vision, mission, goals (long and short term), strategies and even the necessary team required for the success of your farm business. It would direct your thinking and actions.
AGRICULTURE BUSINESS PLAN OUTLINE FOR BOA, BOI, NIRSAL SHOULD BE STRUCTURED
If you own an existing business, your business plan should be a guide to where you aim to be in the nearest future. Therefore, it should be:
The above are necessary ingredients that determine a good business plan.
- Mission Statement
Your mission statement should be able to give answers to the following questions:
Why is your farm in existence or why should it exist?
What purpose is your farm serving or what purpose would it serve?
What is the future of your farm?
Your mission statement should transcend profitability. It should speak of your farm’s core values
Your goals should be precise and measurable. You can have short term goals. These are goals you
intend to achieve within a year. Long term goals’ timeline would take more than a year. However,
your goals should be SMART (Specific, Measurable, Attainable, Rewarding and Time-bound).
- Executive Summary
In this component, you should note what you have and what would work for you at the moment:
Where are you situated?
How many acres of land do you want to farm on?
When would your farming season begin?
What’s your present operating structure?
What practices do you have for your tillage, conservations, marketing etc?
Farm Marketing Strategy
Your strategy is a pointer to how far your farming business would go. To build an implementable
strategy, the following tips would help:
1. Research the market and their needs. Carry out a feasibility study to examine trends, competitors, demands and target audience.
2. Carry out a SWOT analysis – Identify your strength, weakness, opportunities and threats. Internally analyze your strength and weakness and look at how you can leverage it. Externally investigate opportunities and threats – untapped markets, competitors, regulations by Agricultural bodies or Government etc.
3. Have more than one strategy that you can implement. Do not be overly reliant on your price, economies of scale are not quite favourable for small scale farming.
4. Take your time working on your strategies. Weigh the benefits and the costs to your business. Try to align your internal strengths with available opportunities.’
5. Ensure your strategies align with your mission statement
6. Have an implementation plan that would help bring your strategy to fruition.
- Marketing Strategy and Plan
In this section, you would document your strategy and implantation. This should be based on your research and feasibility study. Factor in your price, the people, placements and promotions while at it. You should be able to communicate your value rightly to your audience.
- Management Summary
Individuals that make your team, their expertise and the roles they would be handling should be stated here. This gives your business a human structure that can be seen by the general public. If external resources are needed or jobs were outsourced, it is safe to state it.
- Financial Analysis
Putting your financials in perspective is very crucial. Make a list of your incomes, expenditures, operational costs in details. In line with your strategy, you should be able to predict your future expenses, income and financial commitments necessary in meeting your goals.
There you have it; a standard business plan for bank of agriculture Nigeria Loan. Writing an agriculture business plan can be tasking, nevertheless, you can take it one step at a time and with as much simplicity as you please. Start by writing what you want to achieve (your mission, vision and goals). Carry out your research – trends, competitors, target market, market demands etc. Brainstorm strategies, carry out a SWOT analysis and flesh your plan. Take your time in analyzing all you have worked on. Don’t rush or be anxious, go at your pace.
How To Download This Complete Agriculture Business Plan In Nigeria with Financial analysis
Above is a part of the business plan outline for agriculture businesses in Nigerian. If you want the complete business plan, follow the procedures to download the complete plan.
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the business plan in Nigeria to your email address where you can easily download it.