You have a lot of choices to consider when purchasing a poultry operation. Fortunately, there are many good resources available to assist you in start up planning and financing.

The first step is creating a written plan to get your business on the road to success. Your plan should be a realistic view of the expectations and objectives for a business. It helps you focus the business's development and provides a framework to plan for the future. It is the basis for discussion with outside parties such as banks or investors and offers a benchmark to measure performance. You may wish to also consult your accountant and lawyer before you begin your operation to ensure any legal, accounting or government-recording needs are addressed.

Need land? Need to build? Need quota? There are many resources you can draw on when searching for the right farm for your operation. Canada Poultry has a number of listings and advertisements from realtors and builders. Your local realtor or local industry sales people and service providers may have additional information on farms or quota for sale. Also, remember to check with the provincial marketing board staff for farm opportunities.

Your lender or financial partner is an important part of the equation. Your financial partner needs your information as part of their due diligence process. Gathering this information prior to your first meeting with your financial lender will speed up the process, alleviate stress, and show your lender that you have fully evaluated the opportunity.

Here is a recommended list of items to have in hand when you meet with your prospective financial partner:

• Information about the farm such as its location and legal description. If you’re building, bring along a construction budget supported by cost estimates from local contractors and permits from appropriate authorities;
• Information on the existing buildings and production facilities, dimensions, capacity, age, condition, type of equipment and deficiencies that need to be remedied;
• The amount and type of quota;
• Environmental information, nutrient management requirements for the operation, land base, presence of wells and quality of well water;
• A current net worth statement to show your financial position; and
• Your financial statements or income tax returns for the past three years.

Farm Credit Canada (FCC) is a knowledgeable financial partner and agricultural lender. FCC is Canada’s largest provider of agricultural financing, management tools and training. FCC has $11 billion dollars invested in Canadian Agriculture.

FCC has a variety of loans for poultry producers. These products give customers flexibility and control over their financing. Features include pre-approval, continual re-advances, self-disbursements and interest-only payments. Financing is tailored to the specific requirements of each operation.

Information, resources and links are provided on FCC’s website relating to agriculture news, investor relations, and management skill development.

“Our local account managers work with you through budgets, financing and insurance scenarios to determine what may work best for your financial position,” said Greg Stewart, FCC Executive Vice-President, Operations. “We can pre-approve financing so you have the flexibility to act quickly on land or equipment purchases that arise. Plus our staff has great knowledge of the poultry industry.”

For more information on purchasing, financing and insuring a poultry farm, call your nearest FCC office by calling 1-800-387-3232.