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AgVenture and Enterprise Feasibility

What else can I do on my farm? 

The intentional process of deciding to add or change an activity in your current farming operation is critical to its success.  Before you spend a lot of money into a new idea, invest some of your time in considering your resources and your vision.  Also, consider your personality preferences and the needs that you have financially, physically, and emotionally.  The best choices for new farm activities are those that match your desires and meet your needs.

The University of Kentucky has compiled a great resource for producers who are considering a new enterprise called A Primer for Selecting New Enterprises for Your Farm .  If you want to take another approach, follow these steps: 

Step 1:  Identify the resources that you have in your whole farm inventory.

Step 2:  Determine how much risk can you tolerate?  (MS Word or PDF

Step 3:   Write down the vision that you have for your farm.  (MS Word or PDF)

Step 4:  Estimate your farm and personal expenses.  (MS Excel or PDF)

Step 5:  Look at sample budgets for various activities, and plug in your own numbers.  (Check out NCSU's Value Added Budgets and UGA's Interactive Budgets.) 

Step 6:  Compare alternative activities based on your own criteria.  (MS Word or PDF)

 

Exploring the Small Farm Dream – For resources and a self-guided study of whether starting an agricultural business is right for you, check out:  http://www.smallfarm.org/explorer/history.htm.

 

 

For more information on trends that affect agricultural and food markets, check out these websites:

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