If you are a rancher searching for tracts of land to start a ranch, look no further than Santa Cruz Properties. We have multiple properties for sale in Edinburg with owner-financing opportunities available to you, so take advantage and create the ranch you’ve always wanted!
Our property experts have helped many first-time land buyers live the dream of owning property, and many times before, we have helped them build the ranch of their dreams as well. Here’s a little bit of what we have learned over the years.
1. Even When Building a Ranch, a Business Plan is Crucial for Success.
Owning a ranch is running a business, and one of the most important steps to take for any business is to create a business plan for your commercial property. A business plan will help you prepare and take the necessary steps needed to ensure your ranch is successful in the long run.
Building a ranch requires you to develop a budget for equipment and other assets, in addition to creating:
- Sales goals
- An operation plan
- List of tools, equipment, shelter (for ranch cattle) to purchase
- A detailed summary of your overall business plan
- The services and products you plan to sell from your ranch
- Financial documents, balance sheets, and cash flow plans
- Marketing plans (such as creating your brand, website, etc.)
2. Commercial Property Ownership is Made Easier With a Certified Public Accountant.
As a ranch owner, you should consider hiring a certified public accountant (CPA) to take a weight off your shoulders and give you proper financial guidance. CPAs will work for you and help you:
- Handle and help you with all your taxes
- Help you determine the profitability of your ranch
- Help you determine the growth of your ranch business
- Keep track of your expenses and whether they are bringing in greater returns
Be sure to reach out to a CPA in your area that has experience helping out ranch businesses grow!
3. Learn All of the Commercial Property Regulations
Read up on your local, state, and federal regulations before starting a ranch. Doing so will help you know various rules and regulations regarding ranching, agriculture, and livestock.
Three great resources to consider as a rancher are the following websites:
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4. Determine the Distances Between the Best Owner-Financed Land to Build a Ranch On and Other Necessities.
One of the most important steps to achieving your business dreams is location, and when buying a piece of property in Edinburg to build a ranch on, you must also consider.
- Location of Market: Find the distances required from the lot you want to build a ranch on and suppliers, local communities, and potential customers.
- Climate: Take close consideration of the types of livestock or crops that will thrive on your new ranch based on the local climate. In the RGV, it is well known that we have scorching summers and pleasantly warm winters.
- Land: Consider the number of acres, topography, livestock, water resources, and natural vegetation that you are looking for in your ranch property.
5. Calculate the Costs and Finances for Ranch Operations
Part of starting a ranch includes taking costs and finances into account for daily operations, such as:
- Costs for necessary ranch staff
- Costs needed for improvement, maintenance, or repairs throughout the ranch
- Costs of the new or rental equipment needed for farming, cattle, and agriculture
- Costs of essential structures such as a ranch house, barn, pens, fencing, etc.
With the help of your accountant, you can determine the amount of financing you will need for all the costs it’ll take to operate your dream ranch.
6. Form Your Legal Entity
When beginning any type of business, it is crucial to register and form your legal entity to help protect you against any legal issues. Popular types of legal business entities include:
- Sole proprietorship
- Partnerships
- Limited Liability Company (LLC)
- Corporation
In coordination with creating your legal entity, you must also consider opening up your very own business bank account and business insurance account. Speak further with your CPA and our very own property experts if you have questions or need advice and recommendations.
7. Prepare to Open for Business!
If you consider hiring staff, be sure that they have the skills necessary to complete the jobs needed throughout your ranch. Implement a training period before opening up for business to ensure a smooth opening and long-term success.
Key points to include in training all your staff are:
- Examining all safety protocols required in case of injuries or emergencies
- Reviewing local, state, and federal rules and regulations regarding ranch work, livestock, and other ranching aspects
- Daily tasks needed to achieve
- Training on all necessary equipment
This goes hand in hand with making sure all of your equipment arrives on time, is thoroughly tested, and is good to go.
Beginning your dream ranch is possible with Santa Cruz Properties. Reach out to us to learn more about our owner financing opportunities and available properties today!
