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Farmright

Farm Investment Management

FarmRight's management of an individual business is influenced by the owner's requirements; however we believe there are several fundamentals to profitable dairy farming, including:

  • Optimising pasture growth and quality
  • Efficient pasture management and conversion of pasture to milk production
  • Protection of the agreed cost structure through prudent monitoring and management of farm expenses
  • A strong focus on continuous improvement through benchmarking against similar businesses
  • A structured approach to the management of the business

Services provided by a FarmRight "fully managed" contract:

Farm Consultancy

  • Monthly visit & report (typically 3hrs on each farm)
  • Technical "cows and grass" consultancy:
    • Daily production
    • Cow condition scores
    • Intake levels and feed planning
    • Action plans to achieve targets

Financial - Business Planning, Budgeting, Analysis & Reporting

  • Monthly reporting:
    • Property & Production report including:
      • The Farm Managers report
      • The Consultant's report
    • Financial report including comparisons to budget
      • Summary report (high level)
      • Reports available in hard and/or electronic copy
  • Annual year end financial report and meeting
  • Budget and Cashflow preparation
    • Budgets are agreed with the business owners prior to the budget year commencing.
  • Statistical analysis and comparisons.
    • Benchmarking against other FarmRight managed farms.
    • Business improvement opportunities identified and implemented
  • Compiling, updating and monitoring of the business plan, to be agreed with the business owners prior to the budget year commencing and to include:
    • Policy & Procedures Manuals
    • Asset Management Plans
  • Liaise with banker, accountant, and solicitor as required.

Financial - Accounts Payment

  • Full financial management and control including:
    • Payment and recording of accounts on behalf of business owners
    • Receipt of funds on behalf of business owners
    • GST records and payments
    • Wages and PAYE; records and payment
    • Provide your accountant with a reconciled year end accountants report

Operational Management Supervision

  • Regular on-farm visits by the Farm Investment Manager
    • At least monthly, although required visits throughout the year are likely to vary based on the seasonal farming calendar and issues to be addressed
    • Visits are based around FarmRight monthly calendar and checklists.
  • Liaison with all external contractors and service providers including:
    • Agricultural contractors
    • Graziers
    • Suppliers
  • Independent supervision of the Farm Manager and staff including;
    • Individual Employment Agreements
    • Position Descriptions
    • Coaching of key staff
    • Performance management as required
  • Compliance Management (e.g WorkSafe, Dairy Company etc)
  • Implementation of the asset management plan (as directed by owners)
  • Ensuring consultancy advice meets business plan objectives
  • Monitoring and influencing the overall business performance in relation to the Business Plan i.e achieving the required business outcomes - the key role of the Farm Investment Manager

Key Benefits of Farm Investment Management (F.I.M)

  • FarmRight are dairy farming specialists
  • Independent professional managers with proven systems and structures required to successfully run a profitable large-scale investment
  • Consultants provide specialist expertise and experience and, working with the Farm Investment Manager, enable the input of at least two FarmRight specialists for each property
  • Provides structure within the business giving clearly defined roles to all involved
  • Regular communication and full reporting to farm owners and others as directed
  • Interactive approach with owners to ensure their goals for the property are being met
  • Combined managed farms portfolio gives economies of scale and enables bulk buying benefits and savings
  • Large scale of FarmRight managed farms allows for physical and financial statistical comparisons. This is a powerful management tool
  • A structured and systematic approach to the management of the business to meet the owner's goals
  • Allows for farm owner involvement in dairying without the workload, whilst maintaining overall governance and control