This publication is for the next generation. We will present the issues from the perspective of the incoming farmer and offer suggestions and strategies to enhance that generation’s chances for a successful transfer of the farm business. We believe that service providers and the senior generation will find the material in this guide useful, too.
Farm Transfer and Succession Successful Farm Transfer Planning for Farmers Without an Identified Successor
Focusing on topics such as: • Assessing your unique situation, goals and values regarding the future of your farm. • Clarifying your offer to a non-family successor. • Family decision-making and harmony. • Finding and bringing on a successor.
At the point of farm transfer there is a risk that viable farm businesses can be lost or the farm can be converted to non-agricultural uses if careful planning decisions are not made well in advance. Actions must be taken to facilitate the continuation of the farm business or provide for the farmland to be kept in agricultural production. This resource is a set of guidelines to ensure a smooth transfer.
A collection of resources aimed to aid farmers and technical assistance providers in strengthening the financial performance and viability of farm and food businesses.
The 2016 Maple Business Benchmark is the fourth year of financial record analysis for a small group of commercial syrup producers. The University of Vermont Extension worked with seventeen maple producers to complete financial analysis of their maple enterprise but only eleven financial records were deemed suitable and accurate enough for inclusion in the 2016 group analysis.
The hiring and management of employees presents an opportunity for farm businesses to expand operations, increase efficiency and create jobs from the working landscape. Managing employees comes with not only the responsibility to promote a safe and desirable workplace, but it also comes with the responsibility to make sure everything is in compliance with state and federal labor standards and laws.
Agricultural products are subject to various mark-ups and expected margins as they pass through the distribution chain. These mark-ups and margins reflect the increased price that a distributor or retailer assigns to a product to cover their own costs and achieve the financial targets for their own business.
Following is a discussion on ‘Business for Sale’ valuation models to assist farms, value added businesses, and agricultural business planning consultants assist farms in planning for eventual farm/business transfer. Primary questions: How to determine the value of the business? How to present the ’Business for Sale’?