Tendering for a farm is something that you do very infrequently and maybe just once or twice in your farming career. At the same time letting agents tend to prefer it when the tender is the farmers work, not ours as land agents. They want to get to know you, establish if you balance the books, run a successful farm business and ultimately can afford the rent. The tender is your one chance to prove you have this ability.
So at Carver Knowles the approach we take is to work with you, putting in the time and effort in the background to make it your tender, based on your ideas.
The starting point we have developed is a quick 15 minute business plan that is best done face to face so we can write and you do the talking. You do have to be mentally prepared and in the right frame of mind for it to work.
Here it is for you to have a go at, your 15 minutes start now:
- The opportunity
- Briefly detail the proposal and why this provides you with an opportunity.
- Is there anything unique that you bring to the tender?
- Talk about a vision for the business/property.
- Your Background
- How did you get into farming?
- What sectors have you worked in?
- What experience do you have?
[Later add a CV and references as appendices]
- The proposal
- Summarise what you would do on the property?
- Does this utilise all the property assets (houses/buildings/land)
- Business Enterprises
- Summarise each proposed enterprise
- Say why you have chosen each enterprise i.e. best use of resources/experience/rotation etc.
- Comment on possible outputs yields, markets for stock.
- Strengths and Weaknesses
- A strength is good, but a weakness turned into a strength is better.
- List strengths first (so what are you good at or what areas do you enjoy most)
- Then outline weaknesses and threats and think about how you overcome them.
[Even if this is not included in the final submission it prepares you for likely questions]
- What is your current net worth? (all assets vs. all liabilities)
- What is your current financial state? I.e. recent accounts, current bank balance etc.
- What funds are needed to take on the tender property?
- Where will these funds come from?
- Other issues
- Consider environmental benefits or enhancements you can bring?
- Do any grants or other funding opportunities look likely?
Now you have a skeletal business plan and you have considered all aspects of your tender application that the landowner and letting agent will want to see.
Now all you need to do is prepare the application….