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Holmes Sackett Farm Benchmarking
Identifying your potential farm profit
Holmes Sackett benchmarks more agricultural businesses than any other firm in the eastern states. We have over 15 years worth of historical data which allows for comparison of trends over time. Recently we have combined forces with Principle Focus and Graham Lean & Associates to expand our benchmarking database. This allows more indepth analysis of data and may allow more indepth regional analysis.
Benchmarking brings objectivity to the analysis of performance, and identifies the strengths and weaknesses of the business. The value of benchmarking is in providing the basis for good decision making to achieve additional profit. Substantial increases in profit (>$50,000) are readily attainable.
REGISTER FOR BENCHMARKING AND INCREASE YOUR FARM PROFIT!
What is benchmarking?
Holmes Sackett farm benchmarking analyses the base productivity of each individual farm enterprise as well as the business on a whole. Individual farm benchmarking results and their financial consequences are compared to the results of other farms ranked into average and top 20%.
There are two ways to benchmark your farm business:
- Standard benchmarking - analyses past business performance
- Benchmarking the budget - analyses potential future business performance
Benchmarking can be completed on a:
- Calendar year (January to December)
- Production year (April to March)
- Financial year (July to June)
To complete the benchmarking process you will need:
- Paddock records
- Accounting reports
- Livestock receipts
Additional time will be necessary for first time benchmarkers as the processes and requirements will be unfamiliar.
As a participant you will receive:
- Farm business management report - compare whole farm and individual enterprise performance to the standard benchmarks.
- AgInsights – analysis of collective data, summarising key issues, and explaining differences between top 20% and the remainder of producers.
- Access to an interpretation service – engage Holmes Sackett agricultural consultants to help interpret results and develop strategies to improve profitability.
Holmes Sackett understands that the information provided is commercially sensitive and has developed a protocol to prevent identification of individual farm businesses.
Identifying opportunities from past performanceStandard benchmarking analyses the productivity of the whole farm business and individual enterprises within the farm. The results and their financial consequences are co...
Realising opportunities through effective planningBenchmarking the budget enables you to submit your budget through the benchmarking input forms. You then receive your budget back in a benchmark format and incorporate...
Collective wisdomJoining or starting a benchmarking group is a great way to improve the relevance of benchmarks. Comparison to farms in the same geographic area allows more of the noise generated by variation in rainf...
Why should I benchmark my farm business?Farm benchmarking will help you achieve high levels of profitability, sustainably over time. By identifying what the best producers are achieving from similar farms, benchmarki...