Multi-stakeholder Track- Can the farm support multiple families? Business planning for the future of the farm
Presenters: Kelly McAdam, Agricultural Business Management Field Specialist, University of New Hampshire Cooperative Extension
When considering a farm transfer, the financial viability of the farm will be key to the future success of the incoming generation. The overlap in management and ownership is vital for this transition, and as such the ability for the farm to financially support more than one family. Will the farm need to add additional enterprises, does the next generation have the financial resources to invest in the future of the farm, how well are the farm’s resources utilized to generate income? The development of a business plan will help to answer these questions, and bring up important points for discussion during the farm succession planning process. In this session we will take a closer look at the components of the business plan and discuss considerations and examples for how the financial viability of the farm might be improved to support multiple generations.
Multi-stakeholder Track- Bridging the Gap: Reducing Awkwardness in Transfer Negotiation
Presenters: Leslie Forstadt, University of Maine Cooperative Extension; Tori Jackson, University of Maine Cooperative Extension; Abby Sadauckas, Land For Good
There are important questions that may go unasked during a negotiation, and this can lead to awkward feelings and conversations between land owners and land seekers. In this session, we’ll identify some of the awkward spots that may arise in transfer conversations and explore ways to work through them together. The presenters will provide information about how people of different life stages might approach these conversations and why having a clear vision is important. Participants will practice how to step into another person’s perspective, learn how to say what they mean, and clarify what they’ve heard. Participants will leave this session with a better sense of how to approach exploratory conversations with ease and how to discern shared values with prospective successors to build mutual understanding.
Multi-stakeholder Track- Calculate Your Route to Land Access
Presenters: Mike Parker, National Young Farmers Coalition
If you are a farmer seeking land or a service provider who assists with farmland access, you know how confusing it can be to consider all the financial options available to help you get started. The National Young Farmers Coalition has built a free tool to guide farmers through financial decision making related to land access: the Finding Farmland Calculator.
In this session, Mike Parker will lead a demonstration of the Finding Farmland Calculator, a free tool designed for farmers to build farmland purchasing scenarios, compare detailed cost estimates and affordability metrics, and download results to prepare for meetings with lenders.