In-Depth Business Analysis Offered to Value-Added Dairy Businesses in Tennessee, Kentucky, and North Carolina Through SDBII
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Collapse ▲Growing a value-added dairy business into a stable and profitable venture is challenging. SDBII partners have teamed up to provide an opportunity for existing value-added dairy businesses in a three-state region (Kentucky, Tennessee, and North Carolina ) to receive a value-added dairy business analysis of their operation by the Kentucky Center for Agriculture and Rural Development (KCARD). This analysis consists of an on-site evaluation and in-depth business analysis by experienced and trained consultants. Applications for this assistance must be completed by Oct 31st!
WHO IS A GOOD FIT FOR THIS PROGRAM? Dairy businesses with an existing value-added dairy enterprise (such as cheese, ice cream or processed fluid milk) who want to understand their business at a higher level and who are seeking recommendations on how to manage their business better are good candidates for this program. The owners and management team should be willing to commit 3 to 4 days to work with the consultants on the farm. This program is only for value-added dairy businesses who have been in operation for three or more years.
WHAT DOES THIS COST? Due to support from the USDA AMS Dairy Business Innovation Initiatives program, the KCARD value-added dairy business analysis will be provided at no cost to businesses who are selected for it.
WILL BUSINESS INFORMATION BE PROTECTED? All confidential and/or proprietary information provided by the business or by the evaluation team will be kept confidential.
HOW ARE BUSINESSES CHOSEN FOR THE PROGRAM? Participating businesses must meet the following requirements to apply for the program: 1) Has operated as a value-added dairy business in Kentucky, Tennessee, and North Carolina for at least three years. 2) Receptive to an on-site visit and willing to provide the project team with access to information to allow the team to evaluate the business and make recommendations. 3) Has financial records for at least three years of operation. 4) Can demonstrate that the business has sufficient ability to implement the recommendations that come out of the evaluation.
WHAT SHOULD I EXPECT IF SELECTED? Businesses chosen for the program will do the following: 1) Work with the evaluation team to find a mutual date for the on-site visit. 2) Provide the team with financial records, marketing materials, business policies, personnel information, and other information to help the team prepare for the visit. 3) Spend 3-4 days on-site with the evaluation team. 4) Provide feedback on the experience to benefit other value-added dairy businesses.
WHAT WILL THE BUSINESS RECEIVE? The business analysis is a comprehensive review of the value-added dairy business. The objective of the analysis is to provide the ownership and management of the value-added dairy business with information and materials that will aid in strengthening the business and decision-making. The business analysis will include an on-site evaluation lasting 3-4 days where the consultants will interview owners and key personnel, observe operations, and review financial records, policies, and other key documents. Upon completion of the on-site evaluation, project staff will provide an initial oral report on the status of the business, major considerations, and key initial findings on the last day of their visit. This will be followed by a written report to be provided within four weeks of the visit. KCARD has provided this service to over 20 businesses. As a result of this work, the businesses have been able to grow more efficiently, handle employee issues, gain access to additional loan and grant options, and navigate business challenges.
HOW DO I APPLY? Fill out an application before October 31st!