How Profitable Will My New Orchard Investment Be? Zoom Series
The Zoom Series and Hands-on Skills Class is being instructed by Elizabeth Higgins, Extension Specialist, Ag Business Management and Production Economics with the CCE-Eastern NY Commercial Horticulture Program. Liz has over 15 years of expertise in these subject areas, working closely with the commercial fruit and vegetable industries in the eastern part of the state.
In the long run, it is only worthwhile to grow and sell a product if the price customers are willing to pay for the product exceeds all costs incurred to produce and sell it while earning a reasonable return on your invested capital (financial and human).
The purpose of each class is to give you some of the tools you need, as an orchard owner, to assess whether an investment or long-term change in your orchard business makes sense and to help you choose among potential options. Although this class will used orchard businesses as the framework, most of the concepts I will cover are applicable to any business situation.
The focus on this series is decision making and by extension risk reduction. I say risk reduction because a good decision does not necessarily mean a good outcome. Bad luck or unanticipated issues can result in bad outcomes even when good decisions were made. But the best protection you have against a bad outcome is a well-informed good decision. Our goal is to help you make good, informed decisions with the data you have available.
All webinars are free. They will each be around an hour long and cover a specific topic. They will be recorded so that if you miss a program you can view it later. You must register to attend the webinars.
WEBINAR SCHEDULE
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
Your farm's big-3 financial records (balance sheet, income statement and statement of cash flow) and how to use them to assess your overall financial situation. This information will help you assess what types of investments are likely to be viable for your farm business and whether or not you are likely to be able to use credit to finance that investment. We will specifically cover Farm Profitability, Cash Flow, and Key Financial Ratios.
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
How do you create value? How do you differentiate yourself from your competitors? In other words - what is your farm's business strategy? Your investments should be in line with your strategy. Different business strategies will result in investments in different parts of the Farm Business Value Chain. Farm Business Value Chain - full range of activities needed to create a product or service.
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
Identifying the Enterprises in Your Value Chain. Your Profit Centers and Cost Centers. We will cover: Direct vs Indirect Costs and Cost Allocation and Variable vs Fixed Costs and Relevant Range (when does a fixed cost become a variable cost?)
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
Operating budgets are the overall financial plan for the business. You can use a budget based on your current situation as the base to model new scenarios.
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
It is more time-consuming to develop detailed budgets for your enterprises, but it is worthwhile to do this for areas where you are considering making major investments. We will demonstrate how to move from an operating budget to an enterprise budget to model specific scenarios within that enterprise.
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
Introduces a structured process for a manager to go through to decide among options for long-term investments, projects or changes to the farm business.
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
As you change your prices, volume of sales or costs of production how does your profit change? What is your break-even point and what output level do you need to achieve a target income? We will also cover sensitivity analysis that will help you see how your results will vary over a range of likely scenarios from best case to worst case. This will help you assess the riskiness of your plan.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Capital budgeting is defined as the process used to determine whether capital assets are worth investing in. it's the process of asking: is an asset worth the resources it requires? Capital assets are usually long-term investments like new equipment, facilities, and other infrastructure upgrades. By incorporating strategically planned capital budgeting into their financial processes, companies can more effectively determine and prioritize which projects, programs and other investment assets could be most financially beneficial in the long-term.
Event Details
Date
December 5, 2022
Time
12:30 - 1:30pm
Location
Online, Registration Required for this Free Webinar Series
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
Looking at the Big Financial Picture for Your Farm
Your farm's big-3 financial records (balance sheet, income statement and statement of cash flow) and how to use them to assess your overall financial situation. This information will help you assess what types of investments are likely to be viable for your farm business and whether or not you are likely to be able to use credit to finance that investment. We will specifically cover Farm Profitability, Cash Flow, and Key Financial Ratios.
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Event Details
Date
December 6, 2022
Time
12:30 - 1:30pm
Location
Webinar
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
Business Strategy and the Farm Business Value Chain
How do you create value? How do you differentiate yourself from your competitors? In other words - what is your farm's business strategy? Your investments should be in line with your strategy. Different business strategies will result in investments in different parts of the Farm Business Value Chain. Farm Business Value Chain - full range of activities needed to create a product or service.
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Event Details
Date
December 7, 2022
Time
12:30 - 1:30pm
Location
Webinar
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
Using Your Farm's Financial Data to Make Management Decisions
Identifying the Enterprises in Your Value Chain. Your Profit Centers and Cost Centers. We will cover: Direct vs Indirect Costs and Cost Allocation and Variable vs Fixed Costs and Relevant Range (when does a fixed cost become a variable cost?)
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Event Details
Date
December 8, 2022
Time
12:30 - 1:30pm
Location
Webinar
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
Operating Budgets and Strategic Planning
Operating budgets are the overall financial plan for the business. You can use a budget based on your current situation as the base to model new scenarios.
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Event Details
Date
December 12, 2022
Time
12:30 - 1:30pm
Location
Webinar
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
Enterprise Budgets
It is more time-consuming to develop detailed budgets for your enterprises, but it is worthwhile to do this for areas where you are considering making major investments. We will demonstrate how to move from an operating budget to an enterprise budget to model specific scenarios within that enterprise.
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Event Details
Date
December 13, 2022
Time
12:30 - 1:30pm
Location
Webinar
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
5 Step Decision-making Process for Capital Projects and Long-term Investments
Introduces a structured process for a manager to go through to decide among options for long-term investments, projects or changes to the farm business.December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Event Details
Date
December 14, 2022
Time
12:30 - 1:30pm
Location
Webinar
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
Cost Volume Profit Analysis and Sensitivity Analysis
As you change your prices, volume of sales or costs of production how does your profit change? What is your break-even point and what output level do you need to achieve a target income? We will also cover sensitivity analysis that will help you see how your results will vary over a range of likely scenarios from best case to worst case. This will help you assess the riskiness of your plan.
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Event Details
Date
December 15, 2022
Time
12:30 - 1:30pm
Location
Webinar
Host
CCE-Eastern NY Commercial Horticulture Program
enych.cce.cornell.edu/
Event Registration
Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Capital budgeting is defined as the process used to determine whether capital assets are worth investing in. it's the process of asking: is an asset worth the resources it requires? Capital assets are usually long-term investments like new equipment, facilities, and other infrastructure upgrades. By incorporating strategically planned capital budgeting into their financial processes, companies can more effectively determine and prioritize which projects, programs and other investment assets could be most financially beneficial in the long-term.
December 5 (12:30-1:30) Webinar 1 - Looking at the Big Financial Picture for Your Farm
December 6 (12:30-1:30) Webinar 2 - Business Strategy and the Farm Business Value Chain
December 7 (12:30-1:30) Webinar 3 - Using Your Farm's Financial Data to Make Management Decisions
December 8 (12:30-1:30) Webinar 4 - Operating Budgets and Strategic Planning
December 12 (12:30-1:30) Webinar 5 - Enterprise Budgets
December 13 (12:30-1:30) Webinar 6 - 5 Step Decision-making Process for Capital Projects and Long-term Investments
December 14 (12:30-1:30) Webinar 7 - Cost Volume Profit Analysis and Sensitivity Analysis.
December 15 (12:30-1:30) Webinar 8 - Capital Budgeting Tools - Net Present Value, Internal Rate of Return, and Payback Period
Register for How Profitable Will My New Orchard Investment Be? 1-day, hands-on skills class
Apples
Apricots
Asian Pears
Blueberries
Cherries
Currants
Gooseberries
Nectarines
Peaches
Pears
Plums
Raspberries / Blackberries
Strawberries
Unusual Fruit
Upcoming Events
Farm Grant Literacy Workshop
January 16, 2025 : Session 1: Understanding Farm Grant Opportunities
GRANT MONEY FOR YOUR FARM? IT'S POSSIBLE! THIS WORKSHOP WILL SHOW YOU HOW!
January 23, 2025 : Session 2: Identifying Farm Grant Opportunities
GRANT MONEY FOR YOUR FARM? IT'S POSSIBLE! THIS WORKSHOP WILL SHOW YOU HOW!
January 30, 2025 : Session 3: How To Read and Interpret Requests for Proposals (RFPs)
GRANT MONEY FOR YOUR FARM? IT'S POSSIBLE! THIS WORKSHOP WILL SHOW YOU HOW!
February 13, 2025 : Session 4: Panelists
GRANT MONEY FOR YOUR FARM? IT'S POSSIBLE! THIS WORKSHOP WILL SHOW YOU HOW!
February 20, 2025 : Session 5: Panelists
GRANT MONEY FOR YOUR FARM? IT'S POSSIBLE! THIS WORKSHOP WILL SHOW YOU HOW!
February 27, 2025 : Session 6: Panelists
GRANT MONEY FOR YOUR FARM? IT'S POSSIBLE! THIS WORKSHOP WILL SHOW YOU HOW!
Cornell Fruit Winter Webinars
January 17, 2025 : Week 1: Digging into Pruning and Soil Health
Speakers: Mario Miranda Sazo (CCE LOFP) and Dr. Debbie Aller (Cornell CALS)
January 31, 2025 : Week 2: Cider Apples - Mechanized Harvesting and Sweet Cider Food Safety
Speakers: Dr. Greg Peck (Cornell CALS) and Dr. Randy Worobo (Cornell CALS)
February 14, 2025 : Week 3: The Value of "Eco-Friendly" Marketing - OMRI Certification, Red Tomato, EcoApple, NYS Grown
Speakers: Liz Higgins (CCE ENYCHP), Josh Morgenthau (Fish Kill Farms), Jim Bittner (Bittner-Singer Orchard, and Kevin Clark (Rose Hill Farm)
February 28, 2025 : Week 4: Biopesticides and Controlled Environment Agriculture (CEA) for Berries
Speaker(s): McKenzie Schessl (Cornell AgriTech) and Samantha Willden (Cornell AgriTech)
March 14, 2025 : Week 5: St. Peachtrick's Day: Stone Fruit Insect and Disease Management
Speakers: Dr. George Sundin (Michigan State University) and Brett Blaauw (University of Georgia)
From Seed to Success: Turn Your Idea into an Actionable Plan
January 7, 2025 : Session 1: The 30,000-foot view, what are you trying to accomplish? What resources do you have?
Unit 1: Introduction to Business Planning and the Business Plan (Liz Higgins)
- Session 1: The 30,000-foot view, what are you trying to accomplish? What resources do you have?
January 14, 2025 : Session 2: Introduction to Project Management
Unit 1: Introduction to Business Planning and the Business Plan (Liz Higgins)
- Session 2: Introduction to Project Management
January 21, 2025 : Session 3: How Business Planning Becomes a Business Plan
Unit 1: Introduction to Business Planning and the Business Plan (Liz Higgins)
- Session 3: How Business Planning Becomes a Business Plan
January 28, 2025 : Session 4: Your Market and Your Competition
Unit 2: Developing a Marketing Plan for Your Farm (Bonnie Nelsen)
Session 4: Your Market and Your Competition
February 4, 2025 : Session 5: Revenue and Product Mix to Achieve Your Goals
Unit 2: Developing a Marketing Plan for Your Farm (Bonnie Nelsen)
- Session 5: Revenue and Product Mix to Achieve Your Goals
February 11, 2025 : Session 6: Marketing Plan and Evaluation of Marketing Efforts
Unit 2: Developing a Marketing Plan for Your Farm (Bonnie Nelsen)
- Session 6: Marketing Plan and Evaluation of Marketing Efforts
February 18, 2025 : Session 7: The Basics of Financial Statements
Unit 3: Developing a Financial Plan for Your Farm Business (Steve Hadcock)
- Session 7: The Basics of Financial Statements
February 25, 2025 : Session 8: Enhancing Confidence in Your Numbers
Unit 3: Developing a Financial Plan for Your Farm Business (Steve Hadcock)
- Session 8: Enhancing Confidence in Your Numbers
March 4, 2025 : Session 9: Using Financial Statements and Financial Information to Plan and Evaluate an Enterprise
Unit 3: Developing a Financial Plan for Your Farm Business (Steve Hadcock)
- Session 9: Using Financial Statements and Financial Information to Plan and Evaluate an Enterprise