Identifying opportunities in contracting
The first step in identifying an opportunity is to know your region. Regions will have criteria that dictate what farming enterprises are suitable and therefore, what contracting opportunities may be present. The second step is to look at the issues that are affecting businesses or farms in your area and find a solution to their problems that they cannot solve.
Ideally, find a niche. Niche markets are good. You might not be driving around in a 230 hp tractor that can be heard in the next county but how smug could you be in the pub when the penny drops that the kit you are using is earning twice or three times the margin of the big stuff at a third of the capital cost.
Opportunity comes in many forms. Watch for an emerging market – a large company offering contracts to farmers for example, or a new raft of grant-aided projects.
Get yourself informed. Be aware of all on-farm grants, schemes and regulations. Not only could they present an opportunity, but conversely, they could also be a threat to a service you currently offer.
Read the full article for free on The Business Barn >>>
The first step in identifying an opportunity is to know your region. Regions will have criteria that dictate what farming enterprises are suitable and therefore, what contracting opportunities may be present. The second step is to look at the issues that are affecting businesses or farms in your area and find a solution to their problems that they cannot solve.
Ideally, find a niche. Niche markets are good. You might not be driving around in a 230 hp tractor that can be heard in the next county but how smug could you be in the pub when the penny drops that the kit you are using is earning twice or three times the margin of the big stuff at a third of the capital cost.
Opportunity comes in many forms. Watch for an emerging market – a large company offering contracts to farmers for example, or a new raft of grant-aided projects.
Get yourself informed. Be aware of all on-farm grants, schemes and regulations. Not only could they present an opportunity, but conversely, they could also be a threat to a service you currently offer.
Read the full article for free on The Business Barn >>>