Renewal: Watching the Money - Farm Business Assessment Program Can Help You Relax
Since 1996, Lilian and Denis Larose have weathered fluctuating commodity prices, a record flood, and countless other obstacles that tested their commitment to making their fruit stand and mixed orchard successful. Lilian looks after the fruit stand's operations and financial records, while Denis primarily takes care of the fruit and vegetable production.
 By 2006, the Laroses felt that they'd finally turned a financial corner, but needed to be sure. They wanted an independent, unbiased perspective on their financial situation. When they read a flyer about the Farm Business Assessment (FBA) program, they decided it was just what they needed.
Under the Apple Tree is a 16-acre mixed orchard, garden and retail operation in Creston. The Laroses grow an assortment of tree fruits, raspberries, strawberries, grapes, perennials and various field crops. From April to November, they sell their own harvest and produce from other farms at their fruit stand, and employ 15 to 20 people at the height of the season.
"The farm market had been part of the community for 35 years when we took it over, and we wanted to do everything we could to keep it going," says Lilian. She says doing a business assessment and action plan through FBA has allowed them to feel confident about their orchard's financial situation and continued presence in Creston, as well as their own future. She was also happy with the low enrolment fee of just $100 for a service valued at $2,500.
FBA is part of the Renewal suite of programs offered under the Agricultural Policy Framework. It allows applicants to work with a business planning professional and receive a confidential, independent one-on-one financial review. The consultant spends up to three days reviewing the farm's past and current financial situation, discussing objectives and identifying options to meet the producer's business goals. An additional two days are spent building an action plan and financial projections for the chosen option. Producers are also eligible for a one-day consultation a year later to discuss progress on their plan.
"Doug Stevenson was the expert we needed to confirm our belief in our business's potential," says Lilian. "We felt we could really trust him because he understood farming, and he provided sound business advice to improve our cash flow. He also respected that we were willing to work hard and his encouragement was much appreciated on a personal level. We love what we do - it's a wonderful lifestyle."
Going through the FBA process has reassured the Laroses that sticking with Under the Apple Tree was the right decision. With their tenacity and the right advice their farm has become profitable.
The Laroses are confident about their farm's financial situation now. "We believe in what we do, and I'm thrilled to know that we're able to keep the fruit stand part of the community," says Lilian.
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