Write down your farming sales and production records for future reference. To make sure that your business is creating a profit, keep a log of your sales, business growth, and financial losses on a spreadsheet. Determine whether you are gaining or losing money, and make goals to cut back on costs and earn more money.
- If you notice that you’re spending too much on chicken feed, for example, shop around with different suppliers to find cheaper feed.
- You can also hire an accountant or financial advisor to keep your records organized for you.
Market your poultry farm to spread the word. Marketing your business, especially during the first few years, is crucial for securing more customers and earning a larger revenue. To raise visibility, create ads,make business cards,create a website, and make newsletters (print or online) to promote your business. If you’re new to marketing and want to improve your tactics, hire a marketing consultant to choose the best tactics for business promotion.
Connect with other farming businesses. Meeting other farmers can help spread the word about your farm and attract investors. Attend agricultural conferences and reach out to other farming companies (especially poultry farms) in your area to make positive, lasting connections.
- If you need to hire more workers, try to hire those with years of experience in poultry farming for better stability.
Apply for more loans or investments to grow your business. Once you’ve established your farm, analyze your costs and apply for bigger loans if needed. If you want to pursue alternative ways to finance your business, you can also try applying to business lenders or investors known for financing agricultural businesses.
- If you’re running a chicken breeding farm, for example, you may want a loan to buy better egg incubators.