Scott Wolfe's Farm Business Planning services are aimed at farm enterprises that have achieved success through progressive management systems.
One typical client, a Saskatchewan-based farm enterprise worth in excess of $5 million, recently approached Scott Wolfe to help provide financial and management decision-support analyses.
We analyzed their enterprise's revenue, costs and profitability in detail, and compared the farm with other similar (tillage systems, commodities grown, livestock raised) farm enterprises using our in-depth benchmark data. Revenue and cost per acre for each line item were analyzed. Numerous meetings were held with the father and two sons to identify and discuss the findings.
In working with the client, some cost items were challenged, but more importantly it was discovered that revenue for most of their crops was less than the benchmark averages. Ideas to improve grain marketing were developed; the client is now implementing these practices. We are now working with the client to develop cropping budgets and improved cash-flow management.