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Farm Business Management

farm business managementFarm business management requires great management skills. The farm owner’s skills for working directly with consumers might influence the farm marketing technique. Owners of farms vary in both resources and aspirations. If you are interested to make your business bigger by adding more animals, fruits and crops to grow and provide a high-quality rural life for your family, this would entail you to invest more.

For deliveries you will come to a crossroad of whether you hire a truck to transport orders or buy one for your use.Trucks will play a vital role to maintain markets and customers since there is an immediate need to distribute orders on time and your goods need to be in proper condition upon delivery.

Before you decided on whether to buy or hire a truck for the meantime, carefully weigh its advantages and disadvantages. You should first study if your farm and its production requires you to get a truck and if you already have a number of clients in nearby areas and in the city to bring the orders too.

Second, check your finances to see if you can already risk a big investment in buying a truck. Trucks are quite expensive and you need to get insurances for it. Not only that, maintenance and hiring a driver are also additional expenses.  If you are going to rent a truck, make sure that you schedule all your deliveries within the dates you are renting it so that it would be put into good use and your rent is worth every penny.

Once you purchase a truck, whether it is brand new or not, many states now require insurance to be purchased if the farm vehicle will be used on a public road at any time. There is a need to insure them because farm vehicles are just as much as a hazard as passenger vehicles.

Contracts are also needed to be signed whether you buy or rent a truck. In buying, you have to fill out necessary documents to transfer the vehicle under your name. While in renting, you have to sign a contract of lease to ensure that the vehicle will be used properly and returned the same way as it was rented.

Usually, farmers would give themselves 6 months to a year before renting a truck (which is usually the time needed to grow the crops) to be used for deliveries and after two years to finally buy one to make sure that their business is already settled and financially capable with these investments.

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