1. Farm Business Management
Central Lakes College

2. 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

3. 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.

4. 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

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

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

7. 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.

8. 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

9. 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 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

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

11. 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.

12. 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

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