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Discussion Starter · #1 ·
How many of you have goat business plans?
What do you all include in one? Any suggestions in making one? Recommend any good websites or videos?
 

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Goat business, I am trying to understand your question.

But here it goes:

You have to have a good amount of goats to make money(a profit) from their offspring, in which you sell.

Write up or print out receipts with the goats Sire and Dam or registration number or scrapies tags, if not registered and have the buyer sign and fill in address phone number ect for the goats being purchased, so you have proof of the sale at tax time.

Keep all receipts, on everything you spend for the goats.
Things used for the business, such as quads, tractors ect like fuel, repairs.
Barn repair costs.
Fence repair
Investments: Big items such as quads, tractor, work truck, goat equipment ect.

Replacement Breeder goats purchased by you, do know, losses, only on goats you have purchased, not one who were born on your place.

Vet supplies
Vet costs

You can go by mileage or fuel on work truck to go get supplies, transport goats ect.
I use mileage.

Phone expense for the business. Monthly for the year. If it is used for other things as well, you will have to cut back to what percentage being used for the business. If it is 1/2, cut the cost to 1/2 that you pay ect.

Irrigation cost, if used.
All Feed, if you plant a field, the cost is an expense.

You want income gains and expenses need to be less then your profit to have a legit and proven business, this should continue for a few years, in order for you to be considered a business. Of course it is OK to take a loss periodically of not making a profit and costs were higher.. Hobbie farms are not considered a business.

Always get a good tax preparer, who knows what you can claim and use for a better outcome.

Starting a business account helps, so you can keep track and have money for business supplies or save in there.

Hope I answered properly? ;)
 

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Discussion Starter · #4 ·
Yes ;) Was wondering what other people include in their plans, that maybe would be a good idea to incorporate into mine :)
 

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my business plan read like this
powdered milk for 60 bum lambs $4200.00
number of goats to feed 60 lambs 14
sale of kids from 14 goats $2400.00
The number of lambs saved because money for milk was not an issue
12+ money from saved lambs $1200.00 +
increased income from goats $7800.00
 
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