This is the final part of our series on succession. We’ve looked back over the last 10 years identifying successes and messes that we’ve witnessed in business transitions. From here we developed an extensive list of reasons why those transitions were successful or what caused them to go off the rails. We grouped this list […] Read more
Good communication is key to a successful farm transition
Finding common ground is a good way to move things along as long as both parties buy in
Success or mess?
In the third part of a series on succession planning, Management Minute focuses in on the family
In our introductory article to this series we looked back over our last 10 years identifying successes and messes we’ve seen in business transitions. We developed an extensive list of reasons why those transitions were successful or what caused them to go off the rails. We grouped this list into five key areas that captured […] Read more
Considerations for additional storage
We’ve noticed a common theme underlying recent calls from our clients. Many are looking for advice about adding grain or fertilizer storage. The future is full of uncertainty. Will the crop yield as expected? Will the commodity prices shrink and drag fertilizer with them? What will the fertilizer market do in the next 12 months? […] Read more
Iron Man: Superhero or Financial Drain?
A question our clients commonly ask is: “What is the right machinery investment for my farm?” We see a wide range of investment in iron which can have an impact on cash flow and, more importantly, net income of the operation. In order to illustrate this point we will look at three farms: Ima Steeladict, […] Read more
14 per cent return on assets — wow!
Farmers who rent a large portion of their land base can generate large annual returns. These high returns come with risks that must be managed
We recently did some work for a young client, Curtis Makiteezy. Curtis had a very interesting operation that caught our eye and made us do a double check. There are very few farming models that surprise us any more however this one was worth noting. The operator was a young fellow operating a midsize grain farm with […] Read moreToday’s land decision
To buy or not to buy at these high prices? Use some arithmetic and your attitude toward risk to make the land purchase decision on your farm
We had an interesting discussion with Peter Paytumuch the other day. Peter was deliberating over whether or not to buy a quarter section of land that was up for tender beside his farm. Paytumuch knew that the quarter was going to sell high, but had no idea how to evaluate whether the purchase price made sense. Peter has farmed […] Read moreSuccession: Just do it — part four
In this final instalment, Andrew DeRuyck and Mark Sloane offer 10 options for transferring your farm to the next generation
The moral of this series is that often the biggest obstacle in developing a succession plan is getting started. We’ve been involved in many successful transitions. The common thread is often that one generation takes the bull by the horns and develops options they feel they can offer the other generation. The following list outlines […] Read moreSuccession: Just do it — part three
This third instalment of a series on succession planning offers a four-step plan for the retiring generation
As you will recall from parts one and two in this series, succession planning is often most successful if either the older generation or the younger generation takes ownership of developing options to get started. In part two we walked you through the analysis process from the viewpoint of the younger generation. In part three, […] Read moreSuccession: Just do it — part two
Succession planning is going to take time and dedication. Use this three-step plan to roll up your sleeves and get to work on your own operation
As you will recall, in part one in this series on succession Faith and her husband Juan Tafarm called us, frustrated with the lack of progress on the succession plan for their family farm business. We have seen the most success in business transition when one of the generations takes the bull by the horns […] Read moreSuccession — just do it
This is the first article of a four part series on succession. In this series, we’ll experience the process of succession planning through Farms Forever Inc. and its shareholders. Will and Hope Etworx started Farms Forever Inc. in 2001 and are still the primary shareholders of the company, however they are looking forward to their […] Read more
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