Articles by Art Lange

These farms have lots of items, all of which are depreciating. In addition, most items will be sitting idle for most of the year and not generating any profit for the farm.

Do you really need all that machinery on your farm?

Hidden profit robbers, Part 3: Unused machinery, too much diversification could be affecting your profitability

By Art Lange January 27, 2021

In this series of articles, I looked at various profit robbers on the farm and how to address them. In Part 1, I examined the biggest offender — machinery depreciation — and how sneaky it is, since it’s a hidden cost that doesn’t affect your cash flow. To minimize this cost, I suggested you consider […] Read more

Equipment, Features, Machinery & Shop

Can your cash flow handle new farm machinery payments?

Hidden profit robbers, Part 2: Real numbers on new and used machinery

By Art Lange January 12, 2021

In this series of articles, I am identifying some profit robbers I have noticed in my 16 years of farm business consulting in Alberta. In Part 1 of this series, I identified depreciation on farm machinery as a significant profit robber. Since depreciation doesn’t affect your bank balance, it is easily overlooked. High loan payments […] Read more

Since machinery is a depreciating asset, the author recommends minimizing that investment and maximizing investment in appreciating assets.

Equipment, Features, Machinery & Shop

Depreciation and farm machinery, a rule of thumb

Hidden profit robbers, Part 1

By Art Lange December 15, 2020

In my farm financial talks, I usually ask, “What’s the biggest cost in owning any piece of machinery?” In this case, I’ve already given you the answer but surprisingly some people don’t seem to be aware of that. In my 16 years of consulting farmers, I’ve noticed the old expression “guys (and gals) love their […] Read more

Features, News

How to ask your lender for money when you need it

Having a business plan that tells your farm’s story increases your chance of success with lenders

By Art Lange November 25, 2019

In the first article in this series, I introduced several options available to farmers experiencing financial difficulties. I advised farmers to address financial issues sooner rather than later and not to lay blame on anyone or anything (like the weather). In the second article, I presented an example of using debt restructuring and asset sales […] Read more

Features, News

Family sees four options to get farm finances on track

If you’re in financial trouble, address the problem without abandoning your goals

By Art Lange November 4, 2019

Farmers facing financial issues should address these issues as soon as they occur. In this case, Joe and Sally saw a potential problem and took steps to find a way forward. Although this example is a small farm, the issues and options are equally applicable to larger operations. A farm couple that we will call […] Read more

Features

Facing and addressing farm financial issues

Bad harvest weather. Low prices. If things look grim, it’s time to get to work

By Art Lange October 2, 2019

When there are financial concerns on the farm, it’s important to address them sooner rather than later, and find a way forward. Financial issues can occur in any business. Reasons for financial distress on farms can be as varied as harvest issues, crop failures, decreased market prices, cash-flow challenges or excessive debt loads. It is […] Read more

Features

Five reasons to make a farm business plan

Many farmers do not have a business plan. Here are five reasons to make one for your farm

By Art Lange February 28, 2019

Actually doing a business plan for your farm can be a real chore for many farmers since they are “hands-on” people that prefer the actual day-to-day work (which is always necessary) rather than “desk work.” However, as operations become larger, more complex and involve more people the reasons for business plans become more important. Here […] Read more

Columns

Three Steps For Making Better Business Decisions On The Farm

By Art Lange March 14, 2011

In the first article of this series (see February 28 issue), we stated that farms are unique business entities in that the needs and wants of the farm family are closely interwoven with the needs and wants for the business. We stated that, ideally, farms should be fulfilling (i. e. meeting the needs and some […] Read more

Columns

How A Young Farm Family Can Succeed

By Art Lange February 28, 2011

Farms are unique entities in that they combine a rural lifestyle and a business enterprise at the same location and at the same time. That has its advantages and disadvantages. Family members are always close to the business but the business and all its challenges is always right there also. Both of those parts (the […] Read more

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GFM Network News

U.S. barge backup worsens as Mississippi River shut near Memphis

U.S. livestock: Live cattle futures fall on long liquidation

U.S. grains: Corn limit-down on profit-taking, bearish USDA data

Author Archives Art Lange

Do you really need all that machinery on your farm?

Can your cash flow handle new farm machinery payments?

Depreciation and farm machinery, a rule of thumb

How to ask your lender for money when you need it

Family sees four options to get farm finances on track

Facing and addressing farm financial issues

Five reasons to make a farm business plan

Three Steps For Making Better Business Decisions On The Farm

How A Young Farm Family Can Succeed

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