Food businesses need both process and results-oriented people and the healthy tension their (sometimes conflicting) orientations create. Both kinds of people seek to understand the financial reality about their business performance.
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The more you have the ability to analyze what went right or wrong, the more useful your financial model and plan are to making business decisions. Being able to have both an accurate history and a record of making realistic projections that were met can give entrepreneurs credibility with lenders, investors and the business’ board of directors.
Behind every great food entrepreneur is a great financial team, whether that team is employed by the business directly or through an outsourcing method. Building that team helps the entrepreneur, management and board make informed decisions and allows the business’ key stakeholders to focus on growing their customer base and strengthening their brand.
The decision to add a value-added line is a serious one. There is no single set of laws that apply to value-added products and no single definition of a value added product. Instead, each law may have its own specific definition. This guide helps you to navigate what to look for in terms of legal implications when you are adding value to your products.
Events are a wonderful way for farmers to deepen their connection with customers. To meet these goals, farmers must make sure that hosting events does not expose the farmer to greater legal liability. If things go wrong, on-farm events can be create tremendous legal problems.
Tight cash flow can be challenging, even for the most experienced grower. For a beginning farmer, however, a cash flow crunch can quickly become a disaster. An annual cash flow projection is a very useful tool for a farm. You plot out on a month-by-month basis when cash income will be received and when cash expenses will need to be paid.
Startup food businesses have a multitude of things to consider and do before they every make their product commercially for customers. This guide walks new and aspiring food and beverage business owners through these essential considerations, everything from finding a good mentor to insurance to pricing.
Entrepreneurship and the “Eureka” moment where the entrepreneur has their big, brilliant idea is often glorified in the media and American mythology. What is more difficult is figuring out how to execute on that idea by building the right team/processes and optimizing every aspect of the business for long-term financial success.
All food and beverage businesses have an overwhelming amount of stuff that they have to sort through to launch their business. These questions help new and aspiring food and beverage business owners navigate the plethora of considerations, everything from incorporation to permits to designing your business to be defensibly unique.
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Midwestern BioAg is a company that provides farmers with consulting and products (mostly inputs) that help improve yields, resiliency and profitability by using biological farming methods i.e. treating the farm like an ecosystem and preserving the long-term health of the soil.