farm business and insurance
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Farm Ranch Business | Animal Breeders | Animal Services

Running a Successful Farm Business

Every Business has Two Parts

farm animalsAs with all businesses, farm businesses involve two parts. First, is the skill or service that the business offers such as breeding animals or selling animal products such as eggs. Second, is the business side of the business that involves marketing, planning, financial statements, cash flow, and risk management.

Running a business is not easy. It is not enough to be the best at your skill or service, you must be able to get new customers and keep existing customers through an effective marketing plan using a website and social media. Without sales, there is no business.

Marketing Your Farm Business

Your farm business depends on attracting and keeping customers, yet many new businesses fail at this very basic concept. Failure to constantly promote your business through effective marketing techniques will result in the failure of your business.

There are many ways to market without expensive advertising and you should be aware of these methods. One of the cheapest and easiest marketing tools is Social Media.


Social Media

One of the best sources of marketing is social media such as Facebook, Twitter, and Instagram. You can establish a Facebook page in minutes and put all the information about your business on your page. People will find you when they search on the internet and the pictures and information on your page will be your advertising.

Start with Facebook and move onto Twitter and Instagram as you grow and maybe even a website with even more sales tools.

Business Income

As the main employee of your business, you must pay yourself a living wage. If your business income does not allow you to do this, you don't have a business and you should go to work for someone else so you can meet your personal financial obligations.

Most people have personal financial obligations in addition to business financial obligations. You cannot ignore your personal financial obligations in favor of your business obligations. Each should be kept separate so you can budget for both and see the results of your business.


Side Hustle

Because of the need to support themselves, many entrepreneurs start on a part time basis, holding down a full time job while building a new business as a side hustle. Once the side business produces enough income to have the potential to support them, they then move into the business full time.

Have a Plan

The purpose of these pages is to help you be a successful business person, not to teach you equine professional skills. You should have those skills before going into business.

First, you will need a business plan. The SBA provides a very useful tool for building a business plan. The process of building a business plan is hard work, but having your business fail is even harder work. Start with a sound plan and you will have a much better chance of succeeding.

News and Tips

Aug 4, 2022
Wellington International Equestrian Center Proposes Expansion
Wellington, Florida
Mark Bellissimo, managing partner of Wellington Equestrian Partners, LLC (WEP), announced an initiative to transform Wellington, Florida, into the “Equestrian Capital of the World” for sport, commerce and lifestyle.

2022 was a record year for jumping, dressage and polo in Wellington. The events attracted more than 5,000 families from 50 states and 43 countries and contributed an estimated $200 million of annual economic impact to Palm Beach County. More info...

Jul 28, 2022
Interest Rates will Rise Again
Fed has raised rates in battle with inflation
Interest rates on mortgages, car loans, credit cards, and all loans will rise because of the action of the Federal Reserve Bank at its July 28 meeting. The rates were raised in the battle with inflation in an attempt to tamper down demand for products and services by making them more costly. Some borrowers will look to refinancing their loans with lower cost alternatives such as replacing credit card debt of 18% or higher with a fixed rate personal loan at less than 10%. More info...

Jul 21, 2022
Shop for a Car Loan
Be Smart and Save
Shop for an auto loan before going to the car dealer or refinancing your present loan. Fill out this fast application and get immediate approval. Compare several offers and pick the best one for you in terms of interest rate, loan term, and monthly payment.
You can also refinance your auto loan the same way. Compare your present payment with a new lower payment and see how much you can save every month.
The cost of a car is one thing, but the cost of a loan is another. Be smart and get the best deal on both the car and the loan. More info...

Jul 17, 2022
What You Should Know About Horse Insurance
Equine Insurance
Horse insurance is available for horse owners, clubs, horse shows, and commercial equestrian businesses such as boarding barns and horse trainers.

Equine insurance needs include liability for horse shows and events, and professional liability insurance.

You should also consider horse insurance for horse major medical, mortality, and loss of use of your horse. More info...

Jul 8, 2022
Credit Cards as a Cash Management Tool
Excellent Record Keeping
In managing your personal money and your business funds, credit cards can be useful as both a money management tool and an emergency source of funds. Credit cards are useful as a money management tool since they provide a record of what you have purchased and can give you back cash bonuses.
Always keep personal and business expenses separate by using a different credit card for each. Always pay off the balances every month to keep from overextending. More info...

Jun 30, 2022
Online Pet Stores
Convenient, Safe, and Cheaper
Shopping online allows you to see many more products and to easily compare prices, not to mention the time and money saved by not having to drive around. Online pet stores carry all major brands and medications for all of your animals.
including dogs, cats, and horses.
Check out prices for flea control, grooming supplies, medications, dog food, and all pet needs including cheap horse tack and barn supplies. More info...

Jun 21, 2022
Business Loans for LLCs
Get Multiple Quotes
Business Loans
Apply for a small business loan with one simple application and get several offers from quality lenders. These lenders will make offers based on your business credit and income. It cost nothing to apply so it is worth a few minutes to see what kind of loan offer suits your needs. More info...

Jun 20, 2022
Planning Ahead With a Pet Trust
Florida law allows you to set up a trust for your animals
Under Florida law it is possible to create a trust, known as a Pet Trust, for the care of your horse. If you have a horse, would you like to provide instructions for its care if you are no longer able to do so due to your death or disability? If so, by creating a Pet Trust under Florida law, you can provide for the care of your horse.

(1) A trust may be created to provide for the care of an animal alive during the settlors lifetime. The trust terminates on the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlors lifetime, on the death of the last surviving animal.

(2) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed.

(3) Property of a trust authorized by this section may be applied only to the intended use of the property, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise as part of the settlors estate.
Here is an easy to use form that can be used to set up a pet trust. More info...


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