Successfully starting or expanding a farm business requires an understanding of what drives farm business profitability and the business structures available to meet your objectives.
When Bob and Bonnie Gregson felt that their Island Meadow Farm was becoming too demanding for them to manage in their retirement years, they set out a plan to transfer it to someone with the right skills.
She leased the pasture to a farmer who managed the pastures, but meanwhile, the infrastructure began to show it’s age. When approached by Jefferson Land Trust (JLT) to discuss the future of the farm, Gloria consented, bringing her own family and professional support to the table.
When we hear about succession planning, what usually comes to mind is passing along a business from parents to their kids. This is certainly a common occurrence in agriculture, and has been for centuries. But as in many facets of the industry, this too is changing.
Our focus with investors is the same as with aspiring farmers and retiring farmers. We get to know what you want in your farm and then focus on finding the right farmers to build a relationship with. So we are focusing on finding the best aspiring farmers to have a coffee with the investors, get to know them, see if values align and if they do, you go off together to hunt for your farm.