We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
The current economic situation in the U.S. is like the 1980s in some
ways. I was too young to remember what happened then, but I have heard
stories about it all my life.
Starting and growing a business is part of the American dream. Farm and ranch business expansion is often motivated by the need to increase profitability and improve production efficiency. Businesses experience growing pains just as teenagers do. Growth tends to magnify the weaknesses in a business. Setting things in order when your business is small is much wiser than waiting until you have a big business and a mess to clean up. Here are four things you can do to improve the profitability of your business as it grows.
Is business expansion in your future? Most of us think of expansion as the first way to increase profit. It’s quite common to hear, “Get big or get out.”
Establishing a price for hay on the stump can be a little tricky. A fair price is somewhere between the seller’s cost of production and the buyer’s estimated value minus the cost to harvest.
After real estate and livestock, machinery and equipment is most likely your biggest investment. Machinery and equipment replacement can have a heavy impact on your farm’s bottom line.
Profit margins are being squeezed from both directions. Prices for nearly all ag commodities are much lower than they were a few years ago, and production costs are steady or rising.
