Maps help us navigate the world, and they not only show us how to get from point A to point B, but, depending on the type of map, they can also help us to see where patterns, clusters, and gaps exist in a spatial environment. As part of KCARD’s state-wide Local Food System Expansion Initiative, a series of interactive maps has been developed to visualize the Kentucky local food system. Stay tuned for parts two and three of the series in the next few weeks. We will present a closer look into local food sales in Kentucky and the various industries that make up the local food system.
If you look at a Profit/Loss statement (also called an Income Statement), you will often see Cost of Goods Sold (COGS) broken out from other expenses. What are these and why break them apart?
Costs of Goods Sold are expenses that are directly attributed to the amount of production. COGS are reported on the Income Statement and are segregated from Operating Expenses, which are expenses that are not directly tied to production.
Olivia Vogel, KCARD’s new Local Food Project Coordinator, took a little time to answer some questions about herself, the new Local Food Initiative Expansion Project, and give some helpful tips for producers interested in expanding their markets.
Dr. Steve Isaacs has been with the University of Kentucky Cooperative Extension program for over 28 years, specializing in farm management programs such as farm financial management, human resource management, and the economics of injury prevention. Dr. Isaacs is a trusted and valued resource for KCARD with his extensive knowledge in agricultural economics and business management. He has also been a mentor or instructor for many KCARD staff over the years.
If you ask any KCARD employee where they turn to first in a business plan they receive, there’s a good chance that – after reading the summary of what the business is wanting to do – the profit/loss statement will be the first page reviewed. We will start looking at how revenue was calculated and whether the expense lines show everything that we expect to see in that particular business. In the next few weeks, we will be going into more detail on how to develop financial projections, stay tuned.
A Direct-to-Consumer Beef Webinar Series will be presented on the evenings of July 14, 15, and 16 to help producers new to selling beef with production practices, processing, and sales and marketing questions. Kentucky Center for Agriculture and Rural Development, Kentucky Cattlemen’s Association, and the University of Kentucky are coming together to present information that should help producers navigating beef sales for the first time.
If you are new to direct meat sales and have just read our blog posts about having your meat processed for the first time and pricing your meat for profit, we’ve pulled together some more resources for you to explore.
The Kentucky Center for Agriculture and Rural Development (KCARD) is launching the Kentucky Local Food System Expansion Initiative to expand the work of multiple organizations that have laid a foundation in Kentucky for local food purchasing. Organizations involved in the project include the Kentucky Department of Agriculture, Kentucky Horticulture Council, Feeding Kentucky, Bluegrass Farm to Table, the University of Kentucky, and the Community Farm Alliance.
Chances are you are already doing some social selling if you have a Facebook business page, Instagram business page, or professional Twitter page. So, what is social selling? It is the art of using social media to find, connect with, understand, and nurture sales prospects. In short, it is the modern way to connect with current and potential customers to develop meaningful relationships. The goal with social selling is to bring value to your customer by anticipating their needs rather than just spamming them with “buy now” posts. We’ve put together some best practices to include with your social selling strategy.
Did you know that the average email subscriber receives about 13 commercial emails each day? How does your business break through that fog of emails to reach your customer? We’ve included a few tips below to help you get started, in addition to these marketing basics.
Fact: people are cooking and eating at home more. Those who weren’t cooking at home are now making meals several days a week for their families. Of those making meals at home, 35 to 40% of them started cooking for the first time, according to global management consultant SSA & Company. So, what does that mean for your food business? How can you educate new customers about your products so that you retain them once things get back to normal? Below are a few ideas for targeting the “new” home cook.
The Kentucky Center for Agriculture and Rural Development is a non-profit organization established to facilitate agricultural and rural businesses in Kentucky. We are supported primarily through grants provided by the USDA Rural Cooperative Development Program and the Kentucky Agricultural Development Board. Additional support is provided through our work with partners around the state and through fees charged for select client services.
