Poultry business requires constant record keeping for maximum productivity. According to Peter F. Drucker, whatever you measure gets improved because you have data to evaluate your decisions. Smart poultry farmers maintain proper records of their farms. For instance, they document daily mortality, feed conversion, regular vaccinations, and egg production. Moreover, there are several benefits when you have these records safe and handy.
1. Create your Financial Documents Easily
A balance sheet is a document that shows your assets, liabilities, and equities. Having comprehensive record books simplifies the process of collating and analyzing necessary data.
2. Analyze Production per Batch or Cycle
Depending on the species and type of poultry you stock, the production cycle will change. For example, layers stay longer on the farm, compared to broilers and cockerels. Also, turkeys run a different cycle from chickens, ducks, and quails. Moreover, proper records provide a framework to juxtapose your productivity across various batches.
3. Analyze Yield per Breed for Selection
How do you know which breed produces more eggs, or converts feed more efficiently? With adequate records of your poultry business, you can choose species and breeds that generate the highest returns.
4. Prevent Past Mistakes from Recurring
It is imperative to keep adequate documentations. With facts and figures, you can avoid errors that occurred in the past. For example, if your poultry reacted to a certain dosage of a vaccine or antibiotic, you can prevent a repeat of such events.
5. Create Standard Operating Procedures
To expand and scale your poultry business, you need to create systems and processes for each operation. How do you prepare for new stocks? What is your feeding and drinking pattern? How do you handle sales, orders, and fulfilment? Proper record keeping will provide answers to these questions and more.
6. Determine the Profitability of your Business
It is easy to assume that you are profitable just because money is entering daily. What about the ones going out? You need an accurate capture of total income, expenses, debts, taxes, and other financial commitments to confirm your profitability. Besides, it helps you to adjust when the numbers are not adding up consistently.
7. Ascertain Mortality Pattern and Causes
As a poultry business owner, the lower your mortality rate, the higher revenue you can generate. Keeping proper records help to determine the causes and frequency of deaths. For instance, heat stress is responsible for millions of poultry deaths annually. Poor, wrong, or delayed vaccination is another major cause. Sometimes, the problem might be from where you purchased your day old chicks (DOCS) or new stock. To identify causes, patterns, and potential solutions, you need adequate records of your poultry business.
8. Raise Capital for your Business
You need funds to sustain and expand your production. Potential partners, bankers, and investors would love to know how the business is performing presently. Are you making sufficient money? What are your recurrent and capital expenditures? How would they recoup their investments? Proper records of your poultry business will provide answers to these questions.
9. Prepare Your Tax Returns and Filings
As a registered business, the law requires that you pay taxes on time. Prepare your books to identify your gross income before deducting taxes, depreciation, and amortization.
Proper bookkeeping is essential to business growth and sustainability. When you have adequate records of your poultry business, you can prepare your financial documents easily, raise funds, and create the right structures for your farm.
If you feel keeping these daily records is challenging, FS Manager simply takes this stress off you. That’s not all, you can take your data with you and access it anywhere, anytime. Did you gain value from this article, let us know in the comment section. Don’t forget to share!
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