Barn business plans, within the context of a working farm, should describe the role of the barn in the crop or farming operation you make money from. It should also detail the related expenses (maintenance, fees, rent etc.) that apply to the barn or other structures you need the capital for. A business plan for a farm typically discusses the role of commodities pricing and government subsidies in creating a profitable business model, but depending on your needs, the business plan for a barn might be a very simple document. If you have an existing relationship with your banker, if ought to be sufficient to show the following:
• The role of the barn in your operation
• The use of funds you intend
• The ongoing costs you will cash flow with the loan/revenues
• The new farm hands you'll need, if any
• The market need you're fulfilling
The full business plan would traditionally have a complete market analysis that includes a summary or overview of the opportunity, a target market and target market segment strategy, the industry analysis, and a competitive comparison outlining the main threats you face. It might be prudent to show which other farming operations you consider competitive threats, but you're not likely to require the level of detail a full plan would include. Ask your banker or SBA professional if you have questions. Need the plan written by professionals? Call MasterPlans today to learn how our team of experts can deliver a funding-ready document tailor-made to suit your needs. For a barn business plan, phone 877-453-2011.
