Learn about innovative farm management strategies, new technologies for improving efficiency and productivity, ways to ensure a successful transition of farm operations to the next generation. Join us at the 91st annual Purdue Farm Management Tour and reception honoring the 2024 Indiana Master Farmers in Randolph County (Winchester), Indiana on Wednesday, July 17th.
August 20, 2020
Farm Succession: Feasibility of Adding a Family Employee
Adding to a series about Farm Transition Planning, in this third episode on our Purdue Commercial AgCast series, we discuss how to evaluate if the farm can add an employee. As a farm expands, it is important to evaluate the feasibility of adding an operator and/or hired employees as well as the feasibility of purchasing or renting additional land, and machinery and equipment. Purdue agricultural economists Michael Langemeier and Brady Brewer discuss two critical factors: gross revenue and profitability.
The companion episodes in this podcast series can be found at "Farm Transition Planning", June 24, 2020 and "Farm Succession: Transitioning Business Management", July 22, 2020.
The article discussed in this episode, entitled "Is It Feasible For My Farm To Add An Operator Or Hired Employee?", can be found here.
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Two outstanding farms in east-central Indiana will host visitors wanting to learn about farm and crop management on July 17th for the Purdue University Farm Management Tour. The Indiana Master Farmer reception and panel discussion will follow.
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