Services
Financial & Production Planning/Analysis
Business Plan:
A good business plan helps pave the way to the success of your dairy. Dairy Business Consulting will develop a plan for you that includes the following:
- Detailed feed budget
- Detailed animal flow
- Crop budget
- Capital budget
- Monthly cash flows
- Production and projections
- Current and pro forma balance sheets
- Cost of production and breakeven
Analysis:
Dairy Business Consulting team members meet with their clients to monitor and analyze actual performance vs. projected performance. This allows the producer to make necessary adjustments throughout the year to maximize efficiency and profits by providing:
- Budget to actual comparison
- Accrual adjusted analysis
- Benchmarks
- Financial ratio analysis
- Cost of production and breakeven
- Milk marketing and basis tracking
On-Farm Meetings:
Depending on the needs of your business, your Dairy Business Consultant will schedule on-farm management team meetings with you on a monthly, quarterly, semi-annual, or annual basis. This important service is provided to encourage communication between owners, employees, vendors, and providers (vets, agronomists, lenders, consultants). It is also an efficient way to review and explain financial reports, and provides a platform for the forward planning of your dairy.
Feasibility & Business Change
Most businesses are in constant change. Dairy Business Consulting can assist in the transition phases of your dairy. Are you considering expanding your dairy? Is it feasible to bring a family member into the business? Would a partnership with a neighbor work? How do we treat farm/non-farm family members fairly in estate planning? We can be a key resource on your team in helping answer these questions.
A Feasibility Study should be the first step in exploring your options. The Feasibility Study determines what direction you may take to meet your economic and personal goals.
The feasibility scope of work may include:
- Discuss and identify long and short term goals (personal and business)
- Initiate written business plan emphasizing history, operations, management, goals and plans
- Provides financial projections using your farm financial information
- Develop operational timetable
- Assemble historic and current financial information
- Assemble historic and current production records
- Facility design
- Assist in contractor selection
- Develop a capital budget
- Update balance sheet(s)
- Create feed and crop budgets
- Milk price history
- Develop and analyze business alternatives
- Assemble, package, deliver, and review client feasibility study package
- Meet with lender to review
Financial Record Management
Having accurate and timely financial records is crucial to making business evaluations and projecting future performance. Dairy Business Consulting will provide complete dairy accounting services to meet the internal and external financial reporting needs of today’s dairy operations. From simple to complex, from cash to accrual, an appropriate program will be designed to meet your current needs with the ability to evolve as your business changes.
On-site training is provided for any or all of the following services and for ongoing consultative support:
- Installation and set up of Centerpoint accounting software
- Set up chart of accounts
- Transaction entry training
- Resolving transaction entry issues
- Reconciliation of cash/accrual records
- State and federal payroll reporting
- 1099 and W2 preparation
- Prepare financial statements for lenders, tax reporting, and management