Range Poultry Entrepreneurship For new or existing businesses Types of planning: Not planning or “Grow as you go” Feasibility and Business planning

Feasibility Personal and family considerations Marketing--Can you sell it? Production--Can it be done? Profitability--Will it make money? Financial--Can you afford to do it? Adapted from Grudens Schuck, Nancy, et al Farming Alternatives: A Guide to Evaluating the Feasibility of New Farm-Based Enterprises. NRAES, Cornell University, Ithaca, NY. 88 pp.

Personal and family considerations in choosing an enterprise Would it stretch family resources too far? Do you have the necessary skills and experience? Inventory Land Buildings, machinery, equipment Management and labor needs Marketing resources Financial resources Enterprise preferences

Marketing--Will it sell? Product definition Market research Secondary Primary Assessing your market Target market descriptions Marketing options Existing market demand Competition Market trends Expected price Expected sales volume

Production--Can it be done? Production information and experience Requirements for Climate Soil Water Building and facility Equipment and machinery Management and labor Additional--supply, uniformity Quality and production rate Business size Legal, regulatory, and liability

Profitability--Will it make money? $$ Capital costs $$ Operating costs $$ Budgets $$ Income Statement $$ Sensitivity Analysis

Financial--Can you afford to do it? Meet cash needs throughout the year Even profitable business sunk by lack of cash Many businesses do not turn profit for 3 years Cash flow statement

Develop a Business Plan Uses: Planning tool for you Communication tool for your lender, potential partners Two part: Business description Assessment of environment/market you operate in Operational plans for marketing, production, human resources, finances

Assistance Books/websites Organizations Working together Cooperatives Supply chains