Some of you got it right, passing down the farm is farm succession from the current generation of owners to the next, the folks who are going to be owning and running the farm in the 21st. Century. However, we found out the hard way that we are the only one's using the expression passing down the farm when we are talking about the process and strategies of management and ownership transition of the farm and business to the successor generation.
Almost nine years ago we registered our domain name because we had been told that the older a domain name is, all other things being equal, the better it is for search engine rankings. And we knew we were going to create a farm succession and planning checklist someday - so we'd be ready, #1 on Google.
Today as we begin to populate our web site with new and updated content about farm succession and planning, we can look at our listing and see that sure enough we're right up toward the top of the search engine listings.
What we realized, after doing some extensive keyword investigation, is that being #1 is meaningless since almost no one ever types in the expression "passing down the farm" into Google or any of the other search engines. We made the obvious mistake of thinking that everyone else used the expression - when they don't. Too much time reading our own press releases I guess.
Passing down the farm is the benefit - the goal, the objective on virtually every farmer's mind. It is not, however, what they think of when the go online looking for the tools, techniques, and strategies required to achieve the results they seek however.
The benefits of the passing down the farm succession process begin the day you get serious about designing the future you want for your farm and your family. And the process continues forever, just like your family's involvement in the farm will extend far beyond the lifetimes of everyone living today.
Here three key planning elements uniquely intertwined with each other to create the succession and planning process we call passing down the farm.
Strategic planning is a key element of the farm succession and planning process. You may not use such a high toned expression but that's what you're doing when you plan beyond the next twelve months - consistently rolling your planning ahead of you as you go.
Farm strategic planning is also about management training and leadership development for your successors so they'll be ready to assume full responsibility when the time is right. There are some mistakes your farm can absorb and keep right on chugging along and there are some that will totally destroy what has been created.
Start today by identifying who's going to farm in the next generation and then get started with the leadership and management training they'll need to do so.
Succession planning is the process where you pick the people to run the place in the future and begin empowering them to conserve what you've built and leverage your efforts to grow the operation bigger in the future.
Growth is critical in order to generate the profits required to meet the security needs of the retiring generation, provide a fair share of the farm's value to the off farm heirs, and reward the successors for their risks and hard work.
When you start now to open up areas of responsibility, in the eyes of your successors not just yours, you'll send the right messages about your intentions for the future.
Estate planning, the wills, trusts, buy-sell agreements, and all the contracts required to fulfill your succession and planning requirements DO NOT come last.
Farm estate planning is critical, too critical to be put off, because it establishes the ground rules, faces the tax consequences, and gives the force of law to the strategies that will result in your wishes being spelled out for all to see.
Estate planning decisions need to be made today based on what you know today, where everything is today, and based on the best advice available today.
As time goes by and the other elements of your farm succession plan fall into place you simply have your advisors update your estate planning documents. How many movies have you seen where the old tyrant dies without having changed his will for decades - leaving the heirs and those who though they were heirs to fight over the spoils, resulting in another mystery for Lt.Columbo to solve. Don't let that be you!
Over the last thirty years people have said to me, "but Wayne, our farm is different" and it is. Often this comment was made in an effort to convince me that their situation was so unique it defied the experts and therefore their lack of planning was justified.
Passing down the farm then is the result. Your farm and family's unique situation addressed using well considered strategies that are being used successfully by others.
Eggs have always been a popular delicious and nutritious food. When most people think of eggs, they think of eggs that come from a chicken. Commercially produced chicken eggs are used more often than any other type of egg and are the eggs that people will find the most in supermarkets. Although, the chicken egg is the most common egg sold, there are a wide variety of different types of eggs that are edible and tasty.
Duck Eggs: These eggs are a little larger than chicken eggs. Duck eggs contain more flavor than chicken eggs, but they have a higher level of fat. The egg white has a higher level of albumen than the chicken egg. The duck eggs available on the market are large.
Quail Eggs: These eggs are much smaller than chicken eggs, but are similar in flavor. The shells are speckled and their color varies from dark brown to blue or white. Quail eggs are commonly hard boiled and used as an appetizer or as a hors d'oeuvre.
Goose Eggs: The goose egg is larger than chicken or duck eggs. Goose eggs are very high in fat and cholesterol. They are very rich and are often used in desserts.
Turkey Eggs: The turkey eggs are much like the chicken eggs, but are larger. They are also similar in flavor. The shell colors can be white to cream with brown speckles. They are usually found in specialty markets. They are very high in cholesterol and fat.
Ostrich Eggs: One ostrich egg is equal to 20 to 24 large chicken eggs. They are mainly sold for their uniqueness. They are often used in omelets and as scrambled eggs.
Other edible eggs include Pigeon, Pheasant, and Emu. As well, there are also eggs from fish such as Salmon, Sturgeon, Cod, Shaker, Whitefish, and Hake
Two methods of acquiring eggs that are growing in popularity are Organic Eggs and Free Range Eggs. Organic eggs are produced from hens that have been given all natural feed that do not contain any pesticides or herbicides. Free-range eggs are eggs produced by hens that have been raised outdoors. Eggs are called free-range if the hens have daily access to the outdoors.
Eggs are so popular because they are a cheap and healthy food that can be made into a variety of meals such as hardboiled, coddled, shirred, omelet, frittata, soft-boiled, scrambled, fried, and poached. They are also used as a key ingredient in many food dishes.
The egg is a very nutritional food enjoyed by most people. They contain a high amount of protein and a number of vitamins, minerals and trace elements. The egg is a source of all the B vitamins. It is a primary source of vitamins B12 and B2 (riboflavin). The egg is also an important source of vitamins A and D. A medium egg has an energy value of 78 kilocalories. The fat in an egg is found mostly in the yolk.
When eaten in moderation, eggs make a substantial contribution to a healthy diet.
Rabbit farming can actually become a very lucrative business if you know what you're getting into. Of course, as with any other kind of business, the general idea is that the more you know about it then the better you will be. The most important thing to understand here are the basics and how much work a rabbit farming business would actually entail. After all, you wouldn't want to bite off more than you can chew and end up having to give up even before you've had any success with it. So, what should a first time rabbit farmer know?
Rabbit Farming Facilities and Various Equipment Needs
Of course, the facilities and tools are your business' greatest assets. Rabbitry would require a modest amount of investment as it only needs simple facilities and a fairly small land area. An average rabbit farm would have around 15 to 100 rabbits at any given time and this would require around $5,000 to $10,000 in startup capital. This is a relatively small amount compared to other kinds of businesses, obviously.
For a meat producing rabbitry, basically one that sells premium priced rabbit meat, an investment return of around 45% during the first of year of operation is actually possible. When it comes to building your rabbit farm, you would need to create a rabbit hutch that is well ventilated, well lit and has proper cooling and heating systems. To make things easier for you when it comes to cleaning, metal cages are recommended. Once you have the cage properly set up, you would need to have a feed hopper, a good watering system and a nest box in placed in it.
The next thing you have to consider when it comes to breeding rabbits would be the rabbit breed. Rabbits are often used for their fur, wool and even their meat. Their use often depends on what breed they are and as such, even before starting your farm; you would need to consider what your rabbits would be used for? Once you've figured that out, only then would you be able to choose the kind of rabbit breed that you would require.
Breeding stock for a rabbit farm can be purchased from various local breeders. Typically, female rabbits are actually capable of producing up to 50 live rabbits annually. Rabbit farming is a relatively easy business to handle once you have gotten the groove of how things work. You will eventually learn other tips and tricks along the way so listen, observe and take note.