Business Plan | University of Maryland Extension

Updated: February 25, 2025

Custom Work Charges in Maryland and Delaware (FS-683)

This publication focuses on the financial and economic factors that lead farmers to hire custom services for field operations, such as limited capital and insufficient labor. It explains that custom work charges are determined by the interplay of demand and supply, typically negotiated between farmers and custom operators. The main goal is to provide information on custom work charges in Maryland and offer data to aid farmers in making informed decisions about purchasing equipment. Authors: Shannon Dill and Nate Bruce; Title: Custom Work Charges in Maryland and Delaware (FS-683)

Updated: February 17, 2023

Custom Work Charges in Maryland and Delaware

Introduction Financial and economic considerations such as limited capital, untimely cash flow, insufficient labor, small acreage or other reasons require farmers to hire custom service for field operations. Custom work charges are determined by demand and supply and are negotiated between farmers and custom operators. The purpose of this publication is to provide information on custom work charges in Maryland and to provide data to assist in decision-making regarding purchasing equipment.

Updated: December 20, 2022

Developing a Forest Stewardship Plan: The Key to Forest Management (FS-625)

Forest stewardship is the management of forest resources in a way that meets the needs of the current owners, but does not adversely affect use by future generations. A forest stewardship plan is a working guide that allows the landowner to maximize the wildlife, timber, recreation, aesthetic value, and other benefits of owning woodland. A good plan combines the characteristics of the woodlot with the interests and objectives of the owner to produce a set of forest management recommendations.

Updated: December 20, 2021

Farmland Transition

Depending on your source, it is estimated 40% to 70% of family farms will transition over the next 15 years, and 80% of the rented farmland in our country could be owned and controlled by those who didn't grow up on the farm or operate it themselves. While there are many causes for concern in these statements, you should be asking yourself if you have done all I can to ensure your farm business survives. In some cases, it will not because you have no successor within your family and you have chosen not to seek one from outside.

Updated: September 24, 2021

Maryland Dairy Economics

These are difficult days for dairy farmers. After the high milk prices of 2014, prices have plummeted with no significant upturn in sight. Large dairies across the country have captured economies of scale that turn a profit at these low prices. So as small dairies go out of business, the large dairies continue to expand, maintaining the supply that suppresses the prices.

Updated: June 11, 2021

How Much Does It Cost You to Produce a CWT of Milk?

What price are you getting per cwt of milk? Like most dairy farmers, you know the price or you can get it quickly by reviewing milk check receipts. How much does it cost you to produce a cwt of milk? Like many dairy farmers, you may not know. Dairy farming is complex, and determining your costs of production is sometimes difficult. Yet, your costs directly affect your profit, and it is important to understand them.

Updated: June 4, 2021

Can SMART Ever Be Dumb??

December is often a “Slam” month for most direct marketers. Holiday sales, year-end inventories to conduct, annual profit projections, and the final push of multiple last quarter marketing initiatives that were often launched even before Halloween. The major goal is to end the year in the financial black. Other goals now take a back seat.

Updated: February 17, 2021

Creating a Business of Continuity Plan

A continuity of business (C.O.B) plan is created to outline business functions in the event of a major disruption. It addresses issues such as loss of income, protecting employees and essential business activities. Businesses large and small should develop a plan and create a document that shares essential business operations in preparation, during and following a major disruption in business operations.

Woman in center of screen typing notes on a computer during a beginning farmer class

Updated: February 16, 2021

Farm Business Planning

Planning is essential to any business, no matter how large or small your inventory, payroll and bank account. To be sustainable and profitable a farm operation must have a clear understanding of production, marketing, finances and labor. Having these plans mentally is not enough! Taking time to formulate thoughts, evaluate your business, devise a strategy, and anticipate possible problems will help your business be successful. The Farm Business Planning tools on this page will help put you on the right track.

Updated: February 11, 2021

Your Ag Business Venture: Dream, Plan, Implement!

Your Ag Business Venture: Dream, Plan, Implement is a guide designed to put you in the driver's seat while on the road to making your ag business idea a reality. There are many good tools and resources within this guide to help you along the way.