Title: Identify the components of a business plan for an agricultural enterprise.
Course: Agricultural Production Technology (18301-I) > Section: Developing Business Aspects of an Agricultural Enterprise

Identification should include the following:

- Business description
  - History and location
  - Products and services
  - Organizational structure
  - Resource inventory
    - Human
    - Land
    - Equipment
    - Capital
    - Commodities
    - Natural resources
  - Strengths, weaknesses, opportunities, and threats (SWOT) analysis
  - Mission statement
  - Objectives and goals
  - Production plan
  - Financial plan
  - Market plan
  - Legal and liability issues
    - Insurance coverages
    - Succession and estate planning
- Sources of financing
- Local marketing opportunities
- Enterprise budget
  - Expenses
  - Incomes/revenues
- Risk management

Process/Skill Questions:

- Why is having a business plan important?
- Why is it important to analyze marketing opportunities prior to engaging in an agricultural enterprise?

Teacher Resources:

- Agribusiness Planning, Texas A&M Agrilife Extension
- Your Farm’s Business Plan, USDA