Business Commons^™

W040-Evaluating The Potential Of Success For Value-Added Products, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Within three years after market introduction, approximately 80 percent of all new products and businesses fail. Therefore, it is important to evaluate potential for market success before excessive time, effort and financial investments are made to launch a product into the marketplace.

This publication contains two tools to assist farmers and agri-entrepreneurs in evaluating the potential of market success for their value-added products. These tools do not, however, replace the need to complete business and marketing plans. The first tool, Assessment of Marketing, is designed to help appraise a product, marketing plan and marketing conditions to determine the likelihood …

Pb1787-Liability And Agritourism - Implications Of Tennessee's 2009 Legislation, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Agritourism is a growing industry in Tennessee, as farmers seek new enterprises to generate revenue and consumers seek educational and recreational opportunities or farm-fresh products. A combination of agriculture and tourism, agritourism creates opportunities as well as challenges.

Liability is a signifi cant concern for farmers who operate agritourism enterprises. A landowner who opens his or her land to the public faces the risk that he or she could be considered liable if someone is injured while on the property.

Over the last few years, several states have enacted legislation to limit the liability of agritourism operators with regard to …

Sp720-Value-Added Agriculture, Direct Marketing And Agritourism In Tennessee - A Summary Of 2007 Census Of, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

The United States Department of Agriculture (USDA) conducts a census of agriculture every five years. The most recent census was conducted in 2007 and results were released in February 2009. Over time, the census has included more and more questions related to marketing and alternative enterprises and now provides information related to various components of value-added agriculture.

The Center for Profitable Agriculture, the department within UT Extension that assists farmers in analyzing and developing value-added enterprises, generally defines value-added farm enterprises as those activities involving processing, packaging and marketing farm commodities and farm resources. Value-added agriculture allows the farmer to …

Pb1771-Direct From Tennessee Farmers Markets - Observations, Quotes And Data From Market Managers,, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Farmers markets vary significantly in their operating procedures and characteristics. For example, some are loosely organized with no written guidelines and no designated person in charge, while others have written bylaws along with a board of directors and a paid market manager. Some farmers markets are held in parking lots with goods sold directly from vehicles, while others are held in permanent structures. The differences are numerous.

It may be helpful to learn about and understand some of the differences and similarities in operating procedures and characteristics of Tennessee farmers markets. This information may be useful for those who are …

Pb1770-A Guide For Considering And Developing A Farmers Market In Tennessee, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

This publication provides an introduction to the various steps and stages that tend to unfold as farmers markets are considered, evaluated and developed. It includes actual data about and from existing farmers markets in Tennessee. These data include revealing testimonies, quotes, comments and input from vendors, managers and shoppers. It contains information about facilities and a useful orientation to policies, rules and guidelines. Other operational issues are highlighted too. Many concepts and issues are further explained through the examples in the appendices.

Pb1710-Adding Value To Tennessee Agriculture Through Commercial Food-Processing Enterprises, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

In addition to providing the Center project clients with the necessary overview of planning, evaluating, starting and operating a commercial, value-added food business, this publication has been developed to serve the interests of an even larger audience of farmers, agri- and home-based business entrepreneurs who are interested in a commercial food-processing business. One of the most important motivations for developing a value-added agricultural enterprise is to return profi ts to the farmer/entrepreneur who provides the investment. However, there are many obstacles that might be encountered as a business develops. Previous studies have shown that not obtaining accurate and timely business …

Pb1762-The Growing Hispanic Population In Tennessee - A Potential Market Opportunity For Farmers And, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Tennessee farmers are motivated by current economic trends in the farm sector to seek out valueadded and direct marketing opportunities. Niche markets, including marketing to ethnic populations, are often attractive to those seeking new market opportunities. The growing Hispanic population in the state has led some to question the market potential of this audience in Tennessee.

This publication contains information relevant to Tennessee farmers and agri-entrepreneurs who are considering developing products and marketing to Hispanics. It provides general market research data and information important to understanding demand components, including geographic areas where potential demand may exist, the ability of the …

Pb1761-Tapping Available Resources - A Directory Of Programs In Tennessee That Support Rural Economic, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Original thoughts for this directory called for it to include listings of resources primarily available from the United States Department of Agriculture and within the state of Tennessee. However, in preparing the directory, it was found that information for most all federal programs available from USDA were listed in an existing publication, Building Better Rural Places. Building Better Rural Places is a USDA publication that lists programs for sustainable agriculture, forestry, entrepreneurship, conservation and community development. The 148-page publication is available for viewing and printing on the Internet at http://attra.ncat.org/guide. Therefore, this directory is intended to serve as a complement …

Pb1754-Agritourism In Focus - A Guide For Tennessee Farmers, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

This guide has been developed to assist Tennessee farmers and agri-entrepreneurs in evaluating agritourism enterprise opportunities, planning agritourism enterprises, and dealing with issues and obstacles faced by existing agritourism enterprises. It also serves as a resource for professionals working with existing or potential agritourism entrepreneurs. While this guide cannot guarantee success in planning and managing an agritourism enterprise, the concepts it contains are important in enhancing the potential for success.

This guide contains 10 chapters and an appendix dealing with topics critical to the success of agritourism operations. It is designed to be interactive, allowing users to work through exercises …

Sp641-Tennessee Farm-Level Economic Implications Of Soybean Rust, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Asian Soybean Rust (here after referred to as “rust”) is a potentially devastating crop disease. It now afflicts soybean production in the Eastern Hemisphere and in the Western Hemisphere south of the equator. The first case of rust in the continental United States was confirmed on November 10, 2004. While the extent of the outbreak is not known, concern over the long-range impact of rust on U.S. soybeans has grown as a result of the confirmation.

Many federal and state agricultural agencies have begun preparations for such an outbreak. Defined protocols have been developed in some states for better agency …

Pb1750-Considerations For Membership Investment In A Processing Cooperative, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

The “Tennessee Processing Cooperative Law”1 provides new opportunities for Tennessee farmers. These include new market opportunities for farm commodities and the opportunity for investment in a value-added processing business. The new law is intended to encourage business formations that will add value to farm commodities and agricultural resources in Tennessee.

A thorough introduction and overview of Tennessee’s processing cooperative law is available in UT Extension PB1748, “Commentary and Overview for the Tennessee Processing Cooperative Law.” Basically, the new law provides for the establishment of a new business structure specifically for businesses that will add value by processing or marketing agricultural …

Pb1748-Commentary And Overview For The Tennessee Processing Cooperative Law, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

It has not been that long ago when the options for organizing a business were fairly straightforward. The list began with sole proprietorships and partnerships and then included cooperatives and corporations. This simplified list has become a bit more complex in recent years, and now includes limited liability companies and multiple subclassifications of corporations, partnerships and cooperatives. To complicate matters even more, the precise descriptions of any of these business organizations are often state-specific. That is, the definition and organizational details of a limited liability company or a cooperative in one state are not necessarily the same as in other …

Pb1688-Starting Your Own Wine Business, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

You have been making wine in your base ment for several years and routinely receive accolades on how good your homemade wine tastes. Now you are trying to decide if you should start your own vineyard and build a commercial winery. What are the factors that you should consider in starting a winery and a vineyard?

There are many aspects to consider in starting a winery. One of the fi rst considerations should be where to get grapes and what kind of wine to make. You also need to familiarize yourself with the various regulations and governing bodies that regulate …

Pb1770-A Guide For Considering And Developing A Farmers Market In Tennessee, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Soybean farmers face a variety of marketing alternatives each year. Selling to a grain buyer at harvest is one way to sell soybeans. Another alternative is to store soybeans (either commercially or on-farm) and sell them later. Farmers may also set a price for their soybeans before harvest by signing a cash-forward contract with a grain buyer. The contract specifi es the quantity, price, grade, quality and date of delivery. Because prices have been historically lowest during harvest, storing and cash-forward contracting are ways to price soybeans before or after the harvest season, in hopes of achieving higher prices.

Pb1736-The Importance Of Basis In Marketing Soybeans - A 10-Year Soybean Basis Study For Six Tennessee, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

In March 2001, the Tennessee Department of Agriculture Division of Market Development and the University of Tennessee Agricultural Development Center, renamed the Center for Profitable Agriculture (CPA) in 2002, submitted a proposal to the United States Department of Agriculture’s Federal-State Marketing Improvement Program (FSMIP) to create five market development resource tools that would allow users to evaluate market opportunities for valueadded products and enterprises. One of these five goals was to compare Tennessee’s retail business statistics with county populations as a guide for assessing the number of certain types of businesses that specified population ranges can support.

This publication is …

Pb1735-How Many Businesses Can A County Support, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

This publication presents the results of a survey conducted with management personnel of grocery stores. The survey (see Appendix) was developed to obtain information needed to evaluate how receptive local grocers are to carrying value-added products produced in Tennessee and to identify the primary steps/procedures/conditions that value-added agri-entrepreneurs should consider to best target local grocers. The entire grocery store survey project was accomplished through the cooperative efforts of several teams of contributing partners.

Pb1719-How To Get Your Value-Added Products Into Local Grocery Stores, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Marketing is one of the most important factors determining the success of any fruit or vegetable farming enterprise, encompassing all of the operations and decisions made by producers. These decisions range from identifying the most profitable crops for production to deciding how produce should be delivered to buyers efficiently and economically while maintaining product quality. Contrary to popular belief, marketing does not begin after a crop is produced. Instead, marketing alternatives need to be considered well before production takes place.

Pb1669-Targeting School Groups For Agritainment Enterprises, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

The past few years have witnessed an increased interest in agritainment activities (agritourism and entertainment farming) on Tennessee farms. Animal petting pens, pumpkin patches, hay-bale and corn mazes, farm tours and farm festivals have become almost commonplace across the state. Other agritainment activities such as children’s camps, corporate events and cabin rentals are also being implemented. These and other agritainment activities have created new uses for many farm resources and have contributed to additional sources of farm revenue.

Often begun as educational and awareness programs, many agritainment activities have been developed from small-scale, hobby-type activities into full-time, primary farm enterprises. …

Pb1648-Considering An Agritainment Enterprise In Tennessee, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Agritainment (agritourism and entertainment farming enterprises) has an extensive history in the United States. Farm-related recreation and tourism can be traced back to the late 1800s, when families visited farming relatives in an attempt to escape from the city’s summer heat. Visiting the country became even more popular with the widespread use of the automobile in the 1920s. Rural recreation gained interest again in the 1930s and 1940s by folks seeking an escape from the stresses of the Great Depression and World War II. These demands for rural recreation led to widespread interest in horseback riding, farm petting zoos and …

Pb1699-Marketing For The Value-Added Agricultural Enterprise, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

Hay has been an important crop in Tennessee for many years. Acreage devoted to hay has been trending upward over the last two decades, as shown in Figure 1. Acreage of all types of hay harvested in 1998 was 1,785,000, 51 percent larger than acreage harvested in 1980. Hay is the leading crop in Tennessee in terms of acreage harvested mechanically. In 1997, the value of hay produced on Tennessee farms reached $207 million, ranking the crop third in value among all crops. Cash receipts have averaged about 15-20 percent of the total value of hay produced over the last …

Sp351-C-A New Look At Marketing, The University Of Tennessee Agricultural Extension Service

Marketing, Finances and Value-Added Agriculture

One of the biggest concerns for today’s growing legion of entrepreneurs is how to successfully market a product or service to a highly discriminating public. This is especially true if your business is located in a rural setting. Rural business people have long faced marketing problems such as a small local customer base and limited advertising outlets due to their rural location. Furthermore, costs for transportation, power and labor are usually higher in rural areas than in the more urban parts of the country.