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Many farms and farmers in Canada share the same goal: to see their farm transfer successfully to the next generation so they may reap and improve upon the benefits of the farming business built up through decades of hard work and dedication.
For Pennsylvania dairy farmers Donny and Shari Bartch, working through a complex and lengthy transition process, combined with their passion for innovation and technology, has positioned the family’s Merrimart Farms for the future.
If you don’t want a raging grass fire, you have to plan. To get a controlled fire that burns the CRP grassland without making the local newspaper takes planning and preparation.
During the farm succession process, it is common for the “owner” generation and the “successor” generation to discuss the transfer of assets. However, a conversation about the transfer of management is often overlooked.
“It’s taken care of.” How often is that the response when the next generation asks the former about the plan to transition the dairy operation? In this podcast, Tim Schaefer and Liz Griffith from Encore Consultants cover four key areas dairy farm families and businesses must address for a successful transition, not only of assets, but also of roles within the operation.
Many farms inquire if there is an easy how-to book or checklist that will guarantee a successful family farm transition. The answer is: no. How about an easy way you can sit down in an afternoon and complete your transition plan?
There are times when the next generation of the family business finds themselves in situations where they need the elder generation to make crucial decisions, plan more clearly for the future and take more deliberate leadership actions.
About 12 years ago, a guy named Jack called me up and, although no one in his family knew it, he had terminal cancer. Succession planning had suddenly become a priority, and he didn’t know what to do.
