Wondering how to start a farm equipment rental and leasing business? We take you step-by-step from start to success.
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Best Practices for Writing a Farm Equipment Rental & Leasing Company Business Plan
As a startup entrepreneur, you're learning that small business ownership can be a lonely career path. That's especially true when it comes to writing a business plan – the seminal document that will shape the direction of your new farm equipment rental and leasing business.
Fortunately, you don't have to tackle your farm equipment rental and leasing company's business plan by yourself. These days, there are tons of great resources and solutions available to support the business plan writing process.
For more information, take a look at our Business Plan Help section.
Evaluate the Competition
Prior to launching a farm equipment rental and leasing business in your town, it's a smart move to find out what the competition looks like. We've provided the link below to help you find competitors near you. Just enter your city, state and zip code to get a list of farm equipment rental and leasing businesses in your community.
Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in.
Turning Competitors Into Collaborators
If you want to open a farm equipment rental and leasing business you really ought to learn from folks who are already in business. Local competitors are not going to give you the time of day, mind you. Why would they want to educate a future competitor?
But, a person who owns a farm equipment rental and leasing business on the other side of the country can be a great learning resource for you, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
What's the process for finding somebody who runs a farm equipment rental and leasing business in another community?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Pros & Cons of Buying a Farm Equipment Rental & Leasing Business
An acquisition can be a great way to enter farm equipment rental and leasing business ownership. But it's important to evaluate the benefits and drawbacks of buying a business before you decide on either an acquisition or startup approach.
BENEFITS: Acquired farm equipment rental and leasing businesses should be profitable right out of the gate; they should also be capable of demonstrating a loyal customer base, brand identity and operational efficiencies.
DRAWBACKS: However, purchased companies can also come with pre-existing challenges and/or liabilities. Ultimately, it may be more difficult to tailor a purchased business to your ownership style.
Don't Rule Out Franchising
Tapping into a franchise opportunity means you can leverage ideas and systems from other franchisees and get strong support from the home office.
As part of your process in starting a farm equipment rental and leasing business, you should check out whether there are good franchise opportunities available that might help you on your entrepreneurial journey.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing farm equipment rental and leasing business, these resources will come in handy:
If you came here to learn about selling to farm equipment rental and leasing businesses, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.