Farm Succession: Feasibility of Adding a Family Employee

Adding to our series about Farm Transition Planning, in this third episode, we discuss how to evaluate if the farm can add an employee. As a farm expands, it is important to evaluate the feasibility of adding an operator and/or hired employees as well as the feasibility of purchasing or renting additional land, and machinery and equipment. Purdue agricultural economists Michael Langemeier and Brady Brewer discuss two critical factors: gross revenue and profitability. Find the companion episodes in this series, as well as the article discussed in this episode at https://purdue.ag/3aHRbox.