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
Asparagus
Beets
Blueberries
Broccoli
Brussels Sprouts
Cabbage
Carrots
Cauliflower
Cherries
Cucumbers
Dry Beans
Eggplant
Ethnic Vegetables
Garlic
Grapes
Horseradish
Kohlrabi
Leeks
Lettuce / Leafy Greens
Melons
Nectarines
Onions
Parsnips
Peaches
Pears
Peas
Peppers
Plums
Potatoes
Pumpkins / Gourds
Radishes
Raspberries / Blackberries
Rhubarb
Rutabaga
Snap Beans
Squash - Summer
Squash- Winter
Strawberries
Sweet Corn
Sweet Potatoes
Tomatoes
Turnips
Upcoming Events
Wine Sensory Evaluation Workshop
April 26, 2024 : Wine Sensory Evaluation Workshop
Staatsburg, NY
In collaboration with Jeremy Schuster, Viticulture Specialist at the ENYCHP, Dr. Anna Katharine Mansfield and Chris Gerling, Enology Extension Specialists with the Cornell Craft Beverage Institute, will be presenting a wine production-focused, interactive workshop on sensory evaluation.