This month, we wrapped up the workshop phase of our 2023 Farm Business Planning Programs,…
MFT launches FarmCalc to help farmers plan for profitable businesses
MFT is pleased to announce the launch of FarmCalc, a cloud-database program that helps farmers make financially informed decisions about their farm business. This program was developed by MFT, Jed Beach of FarmSmart Maine and Lori Bailey of ReNew Development. By integrating farm financial information, FarmCalc helps farmers directly compare their costs and profits among vegetables, fruit, flower, and grain crops and plan production for the season. With the tool, farmers are able to download reports about unit costs, profits, costs of operations, inputs, and how these costs compare across their enterprises. FarmCalc was developed as a tool to be utilized in MFT’s Farm Business Planning programs, specifically The Business of Farming, a program for experienced farmers who want to analyze their current business model and use the information for decision making.
“This kind of financial information is crucial for farmers to be successful. Figuring out what to scale up, or scale back, or how to price individual products high enough to pay yourself a livelihood – it’s complicated and I’m excited for the ways FarmCalc can simplify that process and make this empowering information readily available to farmers,” says Alex Fouliard, Farming for Wholesale Project Manager.
FarmCalc includes many types of financial reports to assist farmers in their business planning processes. The reports include Profitability Comparison, Production Plan, Inputs Used, and Projected Profit and Loss. With these reports farmers can combine financial planning with high level production planning to maximize profitability.
FarmCalc is free for farmers to use on their own and with their farm business advisors. To find out more about FarmCalc, please contact Alex Fouliard, firstname.lastname@example.org.
Learn more HERE.
This material is funded in partnership by USDA, Risk Management Agency, under award number RM18RMEPP522C033.