Goat Farming Business Plan Template
If you want to start a goat farming business or expand your current goat farm business, you need a business plan.
The following Goat Farming business plan template gives you the key elements to include in a winning Goat Farm business plan.
Example Business Plan For Goat Farms
I. Executive Summary
Business Overview
[Company Name], located outside [Location], is a registered and licensed goat farming company. The company operates a 50 acre farm that is home to over 100 goats. The goats are raised in an all-natural environment- no antibiotics, hormones, steroids – and all animals are grass-fed. [Company Name] is also fully equipped with the latest technology and equipment used in the goat farming industry.
The farm produces quality goat meats and milk products that we sell to local residents, wholesalers, and retailers. Local residents who want to visit the farm and meet the goats can schedule a tour with us. We also allow residents to reserve the farm for their wedding or other special occasion for a fee.
Products Served
[Company Name] will be involved in the commercial breeding of goats to provide milk, cheese, and meat.
In addition to the sale of these products, the company will also offer tours of the farm for a small fee. This allows local residents to learn more about the goat farming industry and meet our goats in person. Anyone who is interested in making this serene farm the setting to their special event can reserve the farm for a fee.
Customer Focus
[Company Name] will primarily serve local residents and retailers of goat dairy products and meat within a 50-mile radius of the farm. The demographics of the target customer profile is as follows:
- 122,814 residents
- Average income of $65,000
- 12,000+ retailers
Management Team
[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. [Founder’s Name] has been a goat farm operations manager for the past [X] years, so he has in-depth knowledge and experience running a business in this industry. [Founder’s Name] will run the general operations and administrative functions of the company and hire other employees to manage the sales and day-to-day operations.
Success Factors
[Company Name] is qualified to succeed due to the following reasons:
- There is currently a high demand for goat meat and milk products in the community. In addition, the company surveyed the local population and received highly positive feedback pointing towards an explicit demand for the products, supporting the business after launch.
- The company has healthy relationships with loads of major players in the industry.
- The management team has a track record of success in the goat farming business.
- The goat farming business is a proven business and has succeeded in communities throughout the US.
Financial Highlights
[Company Name] is currently seeking $600,000 to start the company. Specifically, these funds will be used as follows:
- Land and Equipment: $250,000
- Goat Care Supplies: $100,000
- Overhead Costs: $100,000
- Working Capital: $150,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
Top line projections over the next five years are as follows:
| Financial Summary | FY 1 | FY 2 | FY 3 | FY 4 | FY 5 |
|---|---|---|---|---|---|
| Revenue | $560,401 | $782,152 | $1,069,331 | $1,379,434 | $1,699,644 |
| Total Expenses | $328,233 | $391,429 | $552,149 | $696,577 | $776,687 |
| EBITDA | $232,168 | $390,722 | $517,182 | $682,858 | $922,956 |
| Depreciation | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 |
| EBIT | $225,168 | $383,722 | $510,182 | $675,858 | $915,956 |
| Interest | $6,016 | $5,264 | $4,512 | $3,760 | $3,008 |
| Pre Tax Income | $219,152 | $378,458 | $505,670 | $672,098 | $912,948 |
| Income Tax Expense | $76,703 | $132,460 | $176,985 | $235,234 | $319,532 |
| Net Income | $142,449 | $245,998 | $328,686 | $436,864 | $593,416 |
| Net Profit Margin | 25% | 31% | 31% | 32% | 35% |
II. Company Overview
Who is [Company Name]?
[Company Name], located outside [Location], is a registered and licensed goat farming company. The company operates a 50 acre farm that is home to over 100 goats. The goats are raised in an all-natural environment- no antibiotics, hormones, steroids – and all animals are grass-fed. [Company Name] is also fully equipped with the latest technology and equipment used in the goat farming industry.
The farm produces quality goat meats and milk products that we sell to local residents, wholesalers, and retailers. Local residents who want to visit the farm and meet the goats can schedule a tour with us. We also allow residents to reserve the farm for their wedding or other special occasion for a fee.
[Company Name]’s History
[Founder’s Name] is an entrepreneur with a passion for goat farming. He has worked in the industry for [X] years and is eager to start a farm of his own. [Company Name] will become a recognized goat farming company, ensuring a continuous supply of goat milk, meat, and cheese [Location] and beyond.
[Founder’s Name] incorporated [Company Name] on [date of incorporation]. [Founder’s Name] has selected a farm location and is currently undergoing due diligence to ensure it is up to code to raise goats.
Since incorporation, the company has achieved the following milestones:
- Found a farm location
- Developed the company’s name, logo, and website located at [website]
- Determined supply requirements
- Began recruiting key employees
[Company Name]’s Products/Services
[Company Name] will be involved in the commercial breeding of goats to provide milk, cheese, and meat.
In addition to the sale of these products, the company will also offer tours of the farm for a small fee. This allows local residents to learn more about the goat farming industry and meet our goats in person. Anyone who is interested in making this serene farm the setting to their special event can reserve the farm for a day for a fee.
III. Industry Analysis
Demand for goat meat and goat milk products has increased in recent years. The general public has been looking for alternatives to cow milk, and for many, goat milk makes the best substitution. With an increase in demand, there will be a greater need for goat farms across the U.S. in the near future.
This demand is not expected to slow down anytime soon. For example, the goat milk industry is expected to grow at a compound annual growth rate of 4.7% over the next 10 years. This substantial growth shows that goat farms are needed more than ever to keep up with demand. Therefore, this is a great time to establish a new goat farm to provide residents with all their goat meat and dairy needs.
IV. Customer Analysis
Demographic Profile of Target Market
[Company Name] will primarily serve local residents and retailers of goat dairy products and meat within a 50-mile radius of the farm. These businesses typically gross from $5 million to $10 million in annual revenues and source their supplies from within a 50-mile radius of their facilities.
The precise demographics of the town in which the business resides is as follows:
| Springdale | Wyndham | |
|---|---|---|
| Total Population | 26,097 | 10,725 |
| Square Miles | 6.89 | 3.96 |
| Population Density | 3,789.20 | 2,710.80 |
| Population Male | 48.04% | 48.84% |
| Population Female | 51.96% | 51.16% |
| Target Population by Age Group | ||
| Age 18-24 | 3.68% | 3.52% |
| Age 25-34 | 5.22% | 4.50% |
| Age 35-44 | 13.80% | 13.91% |
| Age 45-54 | 18.09% | 18.22% |
| Target Population by Income | ||
| Income $50,000 to $74,999 | 11.16% | 6.00% |
| Income $75,000 to $99,999 | 10.91% | 4.41% |
| Income $100,000 to $124,999 | 9.07% | 6.40% |
| Income $125,000 to $149,999 | 9.95% | 8.02% |
| Income $150,000 to $199,999 | 12.20% | 11.11% |
| Income $200,000 and Over | 32.48% | 54.99% |
Customer Segmentation
The company will primarily target the following customer segments:
- Local Residents: The company will sell its products to local residents within a 50-mile radius of the farm.
- Retailers and Wholesalers: The company will sell its products to dairy and meat wholesalers and retailers.
V. Competitive Analysis
Direct & Indirect Competitors
Shayla Farms
Shayla Farms is one of the large-scale goat farms in the US, owning an 8,000 ha area. It has well-established relationships with local retailers and has been in business for 32 years. Shayla Farms offers good quality goat dairy products and meat. It also has automated equipment and machines, which helps in improving its operations. Moreover, it is also known for delivering large orders at the right time without delay.
Farmer Joe’s Goats
Farmer Joe’s Goats has been operating since 1995 and is a well-known company that provides good quality goat meat with affordable pricing. It primarily targets local companies and retailers and has a large distribution network that can serve customers up to a 500-mile radius. Farmer Joe’s Goats also has a very effective distribution and supply chain network. However, Farmer Joe’s Goats offerings are only limited to goat meat.
Goats USA
Goats USA has been in business for the past [X] years and enjoys great success. It is one of the largest goat meat and dairy producers in the region. It easily caters to local residents primarily due to its prime location. It provides multiple goat meat and dairy products, including milk and cheese.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Management: The company’s management team has years of business and marketing experience that allows them to market and serve customers in an improved and sophisticated manner than the competitors.
- Relationships: Having lived in the community for [X] years, [Founder’s Name] knows all the local leaders, media, and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
- Quality products at affordable pricing: [Company Name] will provide quality products at affordable pricing, as it has high-quality equipment and uses the latest techniques.
- Good Packaging: [Company Name] will utilize product-oriented packaging materials that can reduce the damage in the products at the time of supply.
- Attractive Farm Setting: [Company Name] offers a uniquely attractive setting that will encourage residents to visit for a tour or schedule a special event at the farm.
VI. Marketing Plan
The [Company Name] Brand
[Company Name] seeks to position itself as a respectable, upper-middle-market competitor in the goat farming industry. Customers can expect high-quality products with affordable pricing and excellent packaging.
The [Company Name] brand will focus on the company’s unique value proposition:
- Ethically sourced goat meat and dairy products
- Good packaging
- Quality products at affordable pricing
- Providing excellent customer service
- Offering a serene and beautiful rural setting for tours and special events
Promotions Strategy
[Company Name] expects its target market to be local residents and retailers of dairy products and meat in the 50-mile area. The company’s promotions strategy to reach the audience includes:
Advertisement
Advertisements in print publications like newspapers, magazines, etc., are an excellent way for businesses to connect with their audience. The company will advertise its company offerings in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.
Public Relations
[Company Name] will hire an experienced PR agency/professional(s) to formulate a compelling PR campaign to boost its brand visibility among the target audience. It will look to garner stories about the company and its services in various media outlets like television stations, radio shows, etc.
Social Media Marketing
Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The company will use social media to develop engaging content, such as sharing pictures of the goats and creating educational content about the goat farm industry.
Website/SEO
[Company Name] will develop a professional website that showcases pictures of the farm and the goats. It will also invest in SEO so that the company’s website will appear at the top of search engine results.
Merchandise
We will sell attractive merchandise with our logo and business name. When people see their friends and family with this merchandise, they will become interested in our farm setting and products.
Billboard
[Company Name] will highlight our location, goats, and products on a major billboard facing the busiest highway in town. The billboard will provide the location of [Company Name] and the website URL.
Pricing Strategy
[Company Name]’s pricing will be moderate, so customers feel they receive great value when availing of the products. Pricing will be about 50% lower than retail prices to allow wholesalers and retailers to earn their margins.
VII. Operations Plan
Functional Roles
In order to execute [Company Name]’s business model, the company needs to perform many functions, including the following:
Administrative Functions
- Bookkeeping
- Marketing
- General & administrative functions
- Hiring and training staff
- Source and purchase supplies and equipment
Farm Functions
- Maintaining farm equipment
- Caring for goats and other animals
- Conducting tours for visitors
- Making meat and dairy products
- Selling products to local retailers
- Scheduling and setting up private events
Milestones
The following are a series of steps that lead to our vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:
| Date | Milestone |
|---|---|
| [Date 1] | Finalize lease agreement |
| [Date 2] | Design and build out [Company Name] |
| [Date 3] | Hire and train initial staff |
| [Date 4] | Kickoff of promotional campaign |
| [Date 5] | Launch [Company Name] |
| [Date 6] | Reach break-even |
VIII. Management Team
Management Team Members
[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. [Founder’s Name] has been a goat farm operations manager for the past [X] years, so he has in-depth knowledge and experience running a business in this industry. [Founder’s Name] will run the general operations and administrative functions of the company and hire other employees to manage the sales and day-to-day operations.
Hiring Plan
[Founder’s Name] will serve as the CEO. To launch the goat farm, the company will need to hire the following personnel:
- Farmhands [3 to start]
- Logistics and Supply Chain Manager [1 to start]
- Assistant Manager [1 to start]
- Sales Executive [2 to start]
IX. Financial Plan
Revenue and Cost Drivers
[Company Name]’s revenues will come from the sales of dairy products, goat and meat to its customers. The major costs for the company will be the cost of land and equipment. The staff will earn competitive salaries allowing [Company Name] to hire experienced workers. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market.
Capital Requirements and Use of Funds
[Company Name] is currently seeking $600,000 to launch its company. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses, and working capital. Specifically, these funds will be used as follows:
- Land and Equipment: $250,000
- Goat Care Supplies: $100,000
- Overhead Costs: $100,000
- Working Capital: $150,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
5 Year Annual Income Statement
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Product/Service A | $151,200 | $333,396 | $367,569 | $405,245 | $446,783 | |
| Product/Service B | $100,800 | $222,264 | $245,046 | $270,163 | $297,855 | |
| Total Revenues | $252,000 | $555,660 | $612,615 | $675,408 | $744,638 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $57,960 | $122,245 | $122,523 | $128,328 | $134,035 | |
| Lease | $60,000 | $61,500 | $63,038 | $64,613 | $66,229 | |
| Marketing | $20,000 | $25,000 | $25,000 | $25,000 | $25,000 | |
| Salaries | $133,890 | $204,030 | $224,943 | $236,190 | $248,000 | |
| Other Expenses | $3,500 | $4,000 | $4,500 | $5,000 | $5,500 | |
| Total Expenses & Costs | $271,850 | $412,775 | $435,504 | $454,131 | $473,263 | |
| EBITDA | ($19,850) | $142,885 | $177,112 | $221,277 | $271,374 | |
| Depreciation | $36,960 | $36,960 | $36,960 | $36,960 | $36,960 | |
| EBIT | ($56,810) | $105,925 | $140,152 | $184,317 | $234,414 | |
| Interest | $23,621 | $20,668 | $17,716 | $14,763 | $11,810 | |
| PRE-TAX INCOME | ($80,431) | $85,257 | $122,436 | $169,554 | $222,604 | |
| Net Operating Loss | ($80,431) | ($80,431) | $0 | $0 | $0 | |
| Income Tax Expense | $0 | $1,689 | $42,853 | $59,344 | $77,911 | |
| NET INCOME | ($80,431) | $83,568 | $79,583 | $110,210 | $144,693 | |
| Net Profit Margin (%) | - | 15.00% | 13.00% | 16.30% | 19.40% |
5 Year Annual Balance Sheet
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $16,710 | $90,188 | $158,957 | $258,570 | $392,389 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $21,000 | $23,153 | $25,526 | $28,142 | $31,027 | |
| Total Current Assets | $37,710 | $113,340 | $184,482 | $286,712 | $423,416 | |
| Fixed assets | $246,450 | $246,450 | $246,450 | $246,450 | $246,450 | |
| Depreciation | $36,960 | $73,920 | $110,880 | $147,840 | $184,800 | |
| Net fixed assets | $209,490 | $172,530 | $135,570 | $98,610 | $61,650 | |
| TOTAL ASSETS | $247,200 | $285,870 | $320,052 | $385,322 | $485,066 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $317,971 | $272,546 | $227,122 | $181,698 | $136,273 | |
| Accounts payable | $9,660 | $10,187 | $10,210 | $10,694 | $11,170 | |
| Total Liabilities | $327,631 | $282,733 | $237,332 | $192,391 | $147,443 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | ($80,431) | $3,137 | $82,720 | $192,930 | $337,623 | |
| Total Equity | ($80,431) | $3,137 | $82,720 | $192,930 | $337,623 | |
| TOTAL LIABILITIES & EQUITY | $247,200 | $285,870 | $320,052 | $385,322 | $485,066 |
5 Year Annual Cash Flow Statement
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | |||||
| Net Income (Loss) | ($80,431) | $83,568 | $79,583 | $110,210 | $144,693 |
| Change in working capital | ($11,340) | ($1,625) | ($2,350) | ($2,133) | ($2,409) |
| Depreciation | $36,960 | $36,960 | $36,960 | $36,960 | $36,960 |
| Net Cash Flow from Operations | ($54,811) | $118,902 | $114,193 | $145,037 | $179,244 |
| CASH FLOW FROM INVESTMENTS | |||||
| Investment | ($246,450) | $0 | $0 | $0 | $0 |
| Net Cash Flow from Investments | ($246,450) | $0 | $0 | $0 | $0 |
| CASH FLOW FROM FINANCING | |||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 |
| Cash from debt | $317,971 | ($45,424) | ($45,424) | ($45,424) | ($45,424) |
| Net Cash Flow from Financing | $317,971 | ($45,424) | ($45,424) | ($45,424) | ($45,424) |
| SUMMARY | |||||
| Net Cash Flow | $16,710 | $73,478 | $68,769 | $99,613 | $133,819 |
| Cash at Beginning of Period | $0 | $16,710 | $90,188 | $158,957 | $258,570 |
| Cash at End of Period | $16,710 | $90,188 | $158,957 | $258,570 | $392,389 |
