Farm Business Management

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Presentation transcript:

Farm Business Management Central Lakes College

What is Farm Management? Farm Management is the process of making decisions which: Affect the operation of your farm. Help achieve your family goals Help achieve business goals

The Farm Business Management Program is designed to give the farm family better tools to make more informed decisions that affect the business and family goals.

Central Lakes College Farm Business Management Emphasizes these areas: Farm Records and Accounts We will assist in developing a quality record keeping system on computer or other method. Quality Records can be used for: Income Taxes A Measure of Efficiency A Tool with Lenders Monitor Cash Flow

The FBM Program utilizes a variety of instructional techniques: Farm Business Analysis Instructional on-farm visits Educational Classes Group Meetings/Seminars

What is required of the student? Keep accurate farm records Provide information for year end analysis Be available for on-farm instructional visits.

What can FBM provide to you? Assistance with development of farm records. Both financial and production Assistance with development of a net worth statement. Assistance with development of a cash flow projection Assistance with development of a farm business analysis.

What can FBM provide to you? Discussion of how the analysis can used to improved your farm business Review of current farm family goals in relationship to the farm business Discuss possible alternatives in the current business. Make available Annual Central Minnesota and Local Farm Averages A local newsletter is sent to all families

How Do Students Benefit? (Taken from the 2000 FBM Program Evaluations Study, U of MN) Views of the operation from a third party are beneficial One-on-One Approach 63% of the students value the program with an increase of $5000 or more of net income per year 78% of the students have been in the program for six or more years, with 45% intending to remain in the program for 10 or more years From 1996-99 the average Mn farmer had a net income of $18,310. The average FBM student had a net income during the same period of $37,590

Central Lakes College Farm Business Management Local classes in many areas available at no additional charge. On subjects like: Computers Internet Marketing Family Relationships

Central Lakes College Farm Business Management Enrolled persons are students at Central Lakes College. Students are enrolled for 10 credits per year. Tuition is based on current credit rate. Financial aid is available to those who qualify.

Central Lakes College Farm Business Management “We are here to help you succeed” Confidentiality assured! Bob Rick Farm Business Management Instructor Located at the Staples Ag Center

Recruits? Recruiting?? Recruiting strategies??? I Need Students!