Profitability, financial benchmarks, and economic impact of local food
Discuss profitability of produce farms in central MN and ideas for improvement
In this Farmbyte, we're sharing:
- A video interview with UMN Extension's Ryan Pesch on vegetable farm...
- Financial benchmarks
- Profitability in central MN
- Areas for improvement
- Additional resources
Financial Benchmarks and Economic Impact of Local Food Operations
This is the report by Ryan Pesch discussed in the video. UMN Extension publication.
Grower to grower
A similar report from WI. UW Madison, CIAS publication.
Building a sustainable business
Great book on business planning. SARE book.
Video series about the elements and importance of business planning. UMN Center for Farm Financial Management video series.
- Compare your farm to those in the report to see how you measure up
- If you're not farming yet, consider the characteristics of the more profitable operations as you make your own plans
- Think of ways to make improvements to your farms' profitability
- What are your most/least profitable crops and enterprises?
- Are your markets worth the effort?
- Could additional enterprises compliment what you already do well?
- Would adding market channels allow you to consistently sell your produce?
- Use the resources to help you make plans, assess your operations, and make changes