Thinking about starting a Goat Farming Business?

The business of goat farming has been gaining a lot of popularity these days. There is significant demand for goat products and they also need less investment and high profit margin in a short time period. These are known to be the main reasons behind rising popularity of business.

Being a profitable business, goat farming makes a great source of income for millions of entrepreneurs across the world. But you need to consider some important things before you venture into this business. You should determine the size of your project for goat farming, i.e. number of goats you can keep, your target market, and location like a goat farm. These choices vary by the capital you actually have in hand and size of target market.

If you don’t have many funds, don’t worry because it doesn’t need much and you can also rise with goat farming business plan. You can also grow your business overtime. When starting a goat farming business, you need to follow the best business plan and expand your business in a short time period. You can have a great ROI with goat farming as compared to other livestock farming ventures.

Executive summary

In this section of plan of a business, you need to introduce your company and the location you are based at. You need to do proper feasibility study and market research before you secure the land for your livestock farming.

For example, Jonas Goat Farms Ltd is a licensed and registered goat farming business involved in commercial breeding of goats. We are specialized in breeding services, boarding services, livestock health, dairy support services, shearing services, and other services.

We have started goat farming business because we are specialized and experienced in livestock farming industry. We are looking forward to leverage on vast opportunities and to play our part in growing country’s economy. We have put strategies and process to employ best practices in goat farming/livestock breeding processes.

  • Company Summary

Jonas Goat Farms Ltd is a privately-owned registered livestock farming company owned by Jonas Livingston. Before starting this business, we have worked with some of the top livestock farms in the US. He has worked for around 5 years before starting his own business.

  • Services for Customers

Jonas Goat Farms Ltd is a licensed livestock farming venture devoted to meat processing and goat farming for both the global market and the US market. We are also going to produce raw materials for industries. We operate a food processing plant as part of our offering.

  • Marketing Analysis of Goat Farming Business

Here, we are going to do proper marketing analysis and we have been in existence for a long time. In order to make it possible, we need to analyze the market trends and current demand in the market.

  • Strategy

When it comes to start goat farming business, one of the most important things is to acquire the right breed. Goats are available in different breeds and each breed has its own uses and specifications. So, we are going to raise both regular and dairy goats to serve different purposes.

  • Personnel Plan

In order to raise any business, having proper staff is very important. For doing this, we are going to hire competent and skilled staff to offer our services.

  • Financial Plan

The company will be single-handedly and fully financed by the owner and his close family members. To meet further requirements, we need financing for the next few years. Later on, we are projecting enough profits to pay off the loan and grow at the same time.

  • Management of the Goat Farming Business

Goat farming management is very important part of goat farming business plan. Usually goats eat plants, grasses, weeds, shrubs and herbs. Along with these feeds, they also need proper vitamins, energy, water and fiber for overall growth. Ensuring growth for goats means ensuring growth for your business. You should have proper knowledge of what to feed them.

  • Customers

Basically, the target customers of Jonas Goat Farms Ltd are everyone who uses goat-based products in different ways. Our target markets are going to be householders, individuals and even manufacturers.

  • The Business Metrics and Targets

Most goat farming businesses couldn’t make it and fall easily because they don’t have proper goat farming business plan template. In order to make significant profits, you need to target vast market with your products.

Goat Farming Business Plan Template 1
Bank/SBA Business Plan
Document for raising debt funding from financial institutions to meet the expectations of the banks, SBA, and government agencies.

Company Summary

Goat farming is one of those businesses that a single person can handle with several yields. With that in mind, we need minimal investment and team to start up. Of course, there is a profit involved in goat raising business. The profitability usually depends on the farmer and the breed he uses for farming goats.

  • Company Owner

Jonas Goat Farms Ltd is going to be a goat farming business with multiple yields. The company is owned by Jonas Livingston who is looking forward to see a great profit possibility.

  • Why the goat farming business is being started

The owner is starting goat business for production of milk and meat. We believe that goat farming is a very profitable venture in the US. Lots of young people and unemployed youth having smaller farms can start this business without having much money.

  • How the goat farming business will be started

To start this business, we will need some people from the rural areas who have experience in keeping multiple goats for regular income. But we will also need a land to acquire and some startup capital.

Goat Farming Business Plan - Startup Cost

Start-up Expenses
Legal $72 500
Consultants $0
Insurance $32 750
Rent $222 500
Research and Development $32 750
Expensed Equipment $62 750
Signs $12 250
TOTAL START-UP EXPENSES $435 500
Start-up Assets $22 000
Cash Required $485 000
Start-up Inventory $0
Other Current Assets $322 500
Long-term Assets $52 625
TOTAL ASSETS $882 125
Total Requirements $1 317 625
START-UP FUNDING $1 317 625
Start-up Expenses to Fund $435 500
Start-up Assets to Fund $882 125
TOTAL FUNDING REQUIRED $1 317 625
Assets $121 875
Non-cash Assets from Start-up $195 000
Cash Requirements from Start-up $0
Additional Cash Raised $203 125
Cash Balance on Starting Date $118 750
TOTAL ASSETS $638 750
Liabilities and Capital $118 750
Liabilities $121 875
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
TOTAL LIABILITIES $240 625
Capital $0
Planned Investment $1 317 625
Investor 1 $0
Investor 2 $0
Other $0
Additional Investment Requirement $0
TOTAL PLANNED INVESTMENT $1 317 625
Loss at Start-up (Start-up Expenses) ($919 500)
TOTAL CAPITAL ($919 500)
TOTAL CAPITAL AND LIABILITIES $638 750

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Goat products for Customers

When starting your goat raising business, you should be clear of what you are going to produce and offer to your customers. You can produce different products from goats like meat, fiber, milk, skin and manure.

Note

Visit the nearest market and understand the demand for goat farming business products. Focus on producing products that can be sold easily around you and in the market.

As an example, you can produce the following products –

  • Meat – These days, goat meat has significant demand across the world. This rate is increasing significantly. According to a report, more than 70% of meat is consumed globally from the goat.
  • Milk – Goat milk has a lot of vital nutrients and is easy to digest. Hence, there is a great demand in both local and global market. Goat milk is best suited to make different types of dairy products.
  • Fiber – You can also produce fiber from breeds like Angora and Cashmere goats as they produce high quality of fiber.
  • Manure – Some of the crop farmers use manure of goats in the field. It serves as an organic fertilizer. It can help you earn some money by selling goat manure.
  • Skin – You can produce skin from all goat breeds. But there are few breeds which produce quality skin.

Marketing Analysis for Goat Farming Business

Strategic/Operational Business Plan

Market analyst

Consider the current market demand for goat-based products and goat milk when doing market research. You need to figure out the demand for goats and goat milk and your ability to sell. Be sure to talk to other farmers in the market to approach buyers. You can also visit several ecommerce sites, agricultural forums, and product websites to find the buyers online.

Market Trends

A lot of goat farmers focus not only on goat rearing but they also combine the same with meat processing, packaging, and cultivation of crops. It is another common trend in this business. In essence, it is helpful for them to improve business profits.

Marketing Segmentation

When it comes to get started, you need to deal with all types of businesses, be it small or large. You also have to deal with new ventures and individual clients to large businesses. There is no lack of opportunities to help you grow and to deal with goat farming business across the US.

Goat Farming Business Plan - Market Segmentation

Market Analysis
Potential Customers Growth YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 CAGR
Boarding services 10% 22 334 32 344 43 665 52 544 66 432 10,00%
Breeding services 15% 11 433 13 344 16 553 18 745 20 545 13,43%
Dairy support services 10% 8 322 9 455 10 655 12 867 14 433 13,00%
Livestock health services 10% 4 333 5 655 6 877 7 877 9 543 10,57%
Farrier services 14% 3 256 5 655 6 877 7 877 9 543 11,00%
Sale and export 15% 3 925 5 655 6 877 7 877 9 543 10,00%
Sale of Cattle and milk 8% 2 568 5 655 6 877 7 877 9 543 7,00%
Sale of processed meat (beef) 7% 2 568 5 655 6 877 7 877 9 543 10,00%
Shearing services 6% 2 568 5 655 6 877 7 877 9 543 8,00%
Livestock farming 5% 2 568 5 655 6 877 7 877 9 543 7,00%
Total 100% 63 875 94 728 119 012 139 295 168 211 100%

Being the owner of goat farming business, you can offer huge range of services. In order to get it done, you need to have well-trained and experienced team to meet the needs of your customers. People from different occupations and classes are included in your target market and local customers.

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Business Target

Our target market includes different clients. Everyone uses products based on goat farming in different ways. Here are some of the target consumers for goat farming –

  • Manufacturers
  • Households and individuals

Goat Farming Business Plan - 3 Years Profit Forecast

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Product Pricing

We ensure a lot of factors in order to achieve annual sales and desired goal. We go leaps and bounds in cost cutting when it comes to business operations, while attracting customers to choose our farm instead of choosing competitors.

In this section, it is vital to explain the range of product prices. It is very vital to provide maximum details when it comes to pricing. For instance, you can categorize different products. But you should cover this section in one page only.

Strategy

  • To improve and build your networks with a lot of agricultural units which depend on our goat-based products as raw materials to enhance production.
  • To promote relevant food, websites and business magazines and to ensure getting the goat farming business enlisted on local directories.
  • To attend business fairs, food expo, seminars, and other events always and book the opportunity to promote goat farming.
  • To create fliers, business cards, and hand them over to potential customers with your brochure in different locations in the US.
  • To promote your friends, employees and family to use words of mouth when it comes to promote goat farming.
  • To promote your goat farming online on social media platforms like LinkedIn, Facebook, and Twitter.

Competitive Analysis

We are looking forward to stand out in competition with various goat farmers in our area. We are looking to provide quality products to our customers. Our unmatched customer service will help us to grow further in competition. We are going to take care of every client with great respect and ensure providing best goat farming services.

Sales Monthly

Goat Farming Business Plan - Sales Monthly

Sales Yearly

Goat Farming Business Plan - Sales Yearly

Sales Forecast

Goat Farming Business Plan - Unit Sales

Sales Forecast
Unit Sales Year 1 Year 2 Year 3
Dairy support services 539 770 1 002
Livestock health services 265 322 393
Farrier services 1035 1250 1762
Sale and export 550 750 1 100
TOTAL UNIT SALES 2 389 3 092 4 257
Unit Prices Year 1 Year 2 Year 3
Dairy support services $870,00 $910,00 $1 200,00
Livestock health services $650,00 $750,00 $850,00
Farrier services $1 050,00 $1 200,00 $1 000,00
Sale and export $1 700,00 $2 100,00 $3 100,00
Sales
Dairy support services $468 930 $700 700 $1 202 400
Livestock health services $172 250 $241 500 $334 050
Farrier services $1 086 750 $1 500 000 $1 762 000
Sale and export $935 000 $1 575 000 $3 410 000
TOTAL SALES $2 662 930 $4 017 200 $6 708 450
Direct Unit Costs Year 1 Year 2 Year 3
Dairy support services $560,00 $620,00 $800,00
Livestock health services $105,00 $170,00 $190,00
Farrier services $750,00 $790,00 $940,00
Sale and export $1 000,00 $1 350,00 $2 000,00
Direct Cost of Sales
Dairy support services $301 840 $477 400 $801 600
Livestock health services $27 825 $54 740 $74 670
Farrier services $776 250 $987 500 $1 656 280
Sale and export $550 000 $1 012 500 $2 200 000
Subtotal Direct Cost of Sales $1 655 915 $2 532 140 $4 732 550

Personnel plan

You may need to recruit well-qualified and talented employees who can help you start and grow your goat farming business. You can easily start hiring candidates from senior management on the basis of their performance.

Company staff

You may need to hire well qualified and skilled team as part of our goat business plan

  • HR and Admin Staff
  • Accountant
  • CEO
  • Agriculture manager
  • Sales and Marketing
  • Customer Support
  • Procurement manager
  • Assistant
  • Worker

Average Salary of Employees

In this section, define average salary of all of your team members properly in your goat farming business.

 Personnel Plan
Year 1 Year 2 Year 3
Chief Executive Office (CEO) $45 000 $52 000 $59 000
Agriculture manager $145 000 $152 000 $159 000
Procurement manager $410 000 $440 000 $480 000
HR and Admin Manager $55 000 $65 000 $75 000
Accountant $60 000 $63 300 $70 000
Sales and Marketing Executive $20 000 $23 300 $30 000
Assistant $10 000 $12 000 $15 000
Worker $15 000 $20 000 $25 000
Total Salaries $760 000 $827 600 $913 000

Financial Plan

In order to come up with the proven goat farming business ideas, you should have well skilled and talented finance experts. They are capable to implement the best financial plan and outline the overall growth of your business over the next few years.

Important Assumptions

You need to list down all the estimates of interest and tax rates over the period of three years.

General Assumptions
Year 1 Year 2 Year 3
Plan Month 1 2 3
Current Interest Rate 10,00% 11,00% 12,00%
Long-term Interest Rate 10,00% 10,00% 10,00%
Tax Rate 26,42% 27,76% 28,12%
Other 0 0 0

Brake-even Analysis

You should present the overall graph in this section to showcase the overall revenue you are expecting from your company and milestones you can achieve.

Goat Farming Business Plan - Brake-even Analysis

 Brake-Even Analysis
Monthly Units Break-even 5530
Monthly Revenue Break-even $159 740
Assumptions:
Average Per-Unit Revenue $260,87
Average Per-Unit Variable Cost $0,89
Estimated Monthly Fixed Cost $196 410

Projected Profit and Loss

List down all the expenses and income of your business in this table –

 Pro Forma Profit And Loss
Year 1 Year 2 Year 3
Sales $2 662 930 $4 017 200 $6 708 450
Direct Cost of Sales $1 655 915 $2 532 140 $4 732 550
Other $0 $0 $0
TOTAL COST OF SALES $1 655 915 $2 532 140 $4 732 550
Gross Profit $1 007 015 $1 485 060 $1 975 900
Gross Margin % 37,82% 36,97% 29,45%
Expenses
Payroll $760 000 $827 600 $913 000
Sales and Marketing and Other Expenses $1 850 $2 000 $2 150
Depreciation $2 070 $2 070 $2 070
Leased Equipment $0 $0 $0
Utilities $4 000 $4 250 $4 500
Insurance $1 800 $1 800 $1 800
Rent $6 500 $7 000 $7 500
Payroll Taxes $34 510 $40 726 $46 942
Other $0 $0 $0
Total Operating Expenses $810 730 $885 446 $977 962
Profit Before Interest and Taxes $196 285 $599 614 $997 938
EBITDA $196 285 $599 614 $997 938
Interest Expense $0 $0 $0
Taxes Incurred $39 257 $119 923 $199 588
Net Profit $157 028 $479 691 $798 350
Net Profit/Sales 5,90% 11,94% 11,90%

Profit Monthly

This section includes the overview of profits per month for 12 months in 3 years.
Goat Farming Business Plan - Profit Monthly

Profit Yearly

You need to show the annual profits you are expecting from your business to the investors. This way, you can figure out the overall annual profits expected for 3 years.

Goat Farming Business Plan - Profit Yearly

Gross Margin Monthly

Come up with the overall gross margin per month.
Goat Farming Business Plan - Gross Margin Monthly

Gross Margin Yearly

This table includes the gross margin on every year for the upcoming 3 years.
Goat Farming Business Plan - Gross Margin Yearly

Projected Cash Flow

Figure out the projected balance of cash flow you can expect from your goat farming business for next year.
Goat Farming Business Plan - Projected Cash Flow

 Pro Forma Cash Flow
Cash Received Year 1 Year 2 Year 3
Cash from Operations
Cash Sales $40 124 $45 046 $50 068
Cash from Receivables $7 023 $8 610 $9 297
SUBTOTAL CASH FROM OPERATIONS $47 147 $53 656 $59 365
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
SUBTOTAL CASH RECEIVED $47 143 $53 651 $55 359
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $21 647 $24 204 $26 951
Bill Payments $13 539 $15 385 $170 631
SUBTOTAL SPENT ON OPERATIONS $35 186 $39 589 $197 582
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $0 $0 $0
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
SUBTOTAL CASH SPENT $35 296 $35 489 $43 882
Net Cash Flow $11 551 $13 167 $15 683
Cash Balance $21 823 $22 381 $28 239

Projected Balance Sheet

All the assets and liabilities are listed in this balance sheet for your business.

 Pro Forma Balance Sheet
Assets Year 1 Year 2 Year 3
Current Assets
Cash $184 666 $218 525 $252 384
Accounts Receivable $12 613 $14 493 $16 373
Inventory $2 980 $3 450 $3 920
Other Current Assets $1 000 $1 000 $1 000
TOTAL CURRENT ASSETS $201 259 $237 468 $273 677
Long-term Assets
Long-term Assets $10 000 $10 000 $10 000
Accumulated Depreciation $12 420 $14 490 $16 560
TOTAL LONG-TERM ASSETS $980 $610 $240
TOTAL ASSETS $198 839 $232 978 $267 117
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $9 482 $10 792 $12 102
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
SUBTOTAL CURRENT LIABILITIES $9 482 $10 792 $12 102
Long-term Liabilities $0 $0 $0
TOTAL LIABILITIES $9 482 $10 792 $12 102
Paid-in Capital $30 000 $30 000 $30 000
Retained Earnings $48 651 $72 636 $96 621
Earnings $100 709 $119 555 $138 401
TOTAL CAPITAL $189 360 $222 190 $255 020
TOTAL LIABILITIES AND CAPITAL $198 839 $232 978 $267 117
Net Worth $182 060 $226 240 $270 420

Business Ratios

All the estimated sales growth are detailed here in percentage.

 Ratio Analysis
Year 1 Year 2 Year 3 INDUSTRY
PROFILE
Sales Growth 4,35% 30,82% 63,29% 4,00%
Percent of Total Assets
Accounts Receivable 5,61% 4,71% 3,81% 9,70%
Inventory 1,85% 1,82% 1,79% 9,80%
Other Current Assets 1,75% 2,02% 2,29% 27,40%
Total Current Assets 138,53% 150,99% 163,45% 54,60%
Long-term Assets -9,47% -21,01% -32,55% 58,40%
TOTAL ASSETS 100,00% 100,00% 100,00% 100,00%
Current Liabilities 4,68% 3,04% 2,76% 27,30%
Long-term Liabilities 0,00% 0,00% 0,00% 25,80%
Total Liabilities 4,68% 3,04% 2,76% 54,10%
NET WORTH 99,32% 101,04% 102,76% 44,90%
Percent of Sales
Sales 100,00% 100,00% 100,00% 100,00%
Gross Margin 94,18% 93,85% 93,52% 0,00%
Selling, General & Administrative Expenses 74,29% 71,83% 69,37% 65,20%
Advertising Expenses 2,06% 1,11% 0,28% 1,40%
Profit Before Interest and Taxes 26,47% 29,30% 32,13% 2,86%
Main Ratios
Current 25,86 29,39 32,92 1,63
Quick 25,4 28,88 32,36 0,84
Total Debt to Total Assets 2,68% 1,04% 0,76% 67,10%
Pre-tax Return on Net Worth 66,83% 71,26% 75,69% 4,40%
Pre-tax Return on Assets 64,88% 69,75% 74,62% 9,00%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 19,20% 21,16% 23,12% N.A.
Return on Equity 47,79% 50,53% 53,27% N.A.
Activity Ratios
Accounts Receivable Turnover 4,56 4,56 4,56 N.A.
Collection Days 92 99 106 N.A.
Inventory Turnover 19,7 22,55 25,4 N.A.
Accounts Payable Turnover 14,17 14,67 15,17 N.A.
Payment Days 27 27 27 N.A.
Total Asset Turnover 1,84 1,55 1,26 N.A.
Debt Ratios
Debt to Net Worth 0 -0,02 -0,04 N.A.
Current Liab. to Liab. 1 1 1 N.A.
Liquidity Ratios
Net Working Capital $120 943 $140 664 $160 385 N.A.
Interest Coverage 0 0 0 N.A.
Additional Ratios
Assets to Sales 0,45 0,48 0,51 N.A.
Current Debt/Total Assets 4% 3% 2% N.A.
Acid Test 23,66 27,01 30,36 N.A.
Sales/Net Worth 1,68 1,29 0,9 N.A.
Dividend Payout 0 0 0 N.A.

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