Even though the United States has lost more than 60 million acres of farmland between 1990 and 2008, tractors and other farm equipment are still needed to farm the land that remains. In fact farms must grow more food and raise more animals now than they did previously to keep up with the demands of the growing U.S. population. You can profit on this need.

Seek out funding. Use the finance information from your business plan to apply for business and commercial loans from local banks and credit unions. Contact representatives from tractor manufacturers such as John Deere and Caterpillar to learn if any sponsorship funding is available to help you start your business. Form a partnership if you find a person with enough capital or monetary resources to fund the start-up.

Register your business. Obtain an employer identification number (EIN) from the Internal Revenue Service (IRS) by calling 800-829-4933 or filling out the online form from the IRS's website. Complete the forms and paperwork at the local and state level to register your business with the department of revenue to collect sales tax on the products you sell. Apply for a local business license through your city or county government. Purchase liability and property insurance to protect your tractor business in the event a natural disaster occurs or someone is injured while at your place of business.

How to Start a Tractor Business | Bizfluent

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Posted by 2018 article