1. Home
2. Conferences
3. 2019 Extension Risk Management Education National Conference

Developing a Financial Benchmark Program for Northeastern Direct Sale Diversified Produce Growers

Michael Sciabarrasi

Summary

A pilot project, partnering with the Center for Farm Financial Management, made significant strides in providing a foundation for a benchmarking program for Northeast direct sale, diversified produce growers. Our project worked with 10 diversified produce operations in NH, VT, MA, and ME. Participating producers were required to have more than $150,000 in gross sales of which at least 60% was from their own produce and could not have more than 30% wholesale sales. In addition, the farm had to be the major source of income for at least one family member and been operating for a minimum of 5 years.

This presentation will share the financial benchmarks our team decided to use, the impacts made to date, the challenges we found common across the farmers with whom we worked, the information we will be uploading to the National Farm Benchmark database, and our approach moving forward to expand this pilot to six states and 35 farms as we begin a new NIFA Benchmarking grant.

Participants who attend this session and work with farmers on record keeping and farm financial topics will be able to apply lessons learned and ideas to their efforts. We will also inform participants of grant options they can seek to fund their projects.

Details

---