Look to take advantage of financial resources such as poultry farm loans or farm equity credit when you need extra capital to improve your farm.
4 – Minimize Personal Risk through Training
An often overlooked aspect of poultry farming is training. Having your team know how and why it is essential to do things a certain way can help avoid costly mistakes that could damage your business. This comes down to spending a little more upfront for adequate training.
The most important training is on cleanliness. It is crucial to have a team that knows what they need to know about biosecurity and the risks that come with ignoring protocols.
Also, it’s important to do adequate training that satisfies requirements from the Occupational Safety and Health Act (OSHA) and the Fair Labor Standards Act (FLSA). Poultry farms are considered high-risk work environments. Maintaining training and protocols to keep your personnel safe could save you money in the future.
According to recent studies, American small business owners paid $1,100 per employee for training. That may seem like a lot, but having a well-trained team prevents costly mistakes that can end up costing you a fortune.
5 – Leverage Your Financial Resources
Managing a poultry farm is hard work, and there are a lot of variables, such as weather, equipment prices, and personnel losses, to cover at a moment’s notice. Fortunately, there are many great options to help you get the financial support and cash flow you need.
Our poultry farm loan provides liquidity immediately for things like covering the construction of a new poultry farm, purchasing or refinancing a new poultry farm, equipment, supplies, and more. These loans have competitive rates and offer a wide range of financing options.
No matter what your business needs are, our team of experts at First Financial Bank will help you find the services you need so you can invest in your business.
Final Thoughts
Whether you’re new to the poultry industry or a seasoned veteran, looking for ethical and easy ways to cut costs is important. By cutting unnecessary spending and avoiding costly mistakes, your farm will have more capital to grow and develop a great reputation with your integrator.
Always follow cost-cutting best practices such as maintaining cleanliness and biosecurity, keeping up on training, and keeping your birds healthy. Also, look to take advantage of financial resources such as poultry farm loans or farm equity credit when you need extra capital to improve your farm.
Ultimately, cost-saving best practices will give you the peace of mind and extra resources to maintain a thriving business. Poultry farms that know how to cut unnecessary costs and invest in the future are likely to succeed in the thriving poultry industry.