Ranching for Profit Workshops set for March
"Ranchers will find ways to increase the profitability of their businesses at one of four Ranching for Profit workshops set for March 20 to 23. Dave Pratt of Ranch Management Consultants will conduct the workshops," said Tim Christian, Kansas Grazing Lands Coalition state coordinator.
The workshops focus on applying business, economic and financial principles to ranches. Pratt says knowing how to raise livestock isn't the same thing as knowing how to run a business that raises livestock, continued Christian. Pratt will discuss why working in your business is different from working on your business. He will explain the three "secrets" for increasing profit and share proven profitability benchmarks participants can use to identify "deadwood" and pinpoint "profit drivers" in their ranches.
"Input costs have increased five times faster than cattle prices. Land values have risen even faster," said Pratt, who teaches the internationally-acclaimed Ranching for Profit School. Many ranches who use practices that were profitable just 20 years ago lose money in today's environment, he said. Most farms and ranches are structured to fail and survive only through internal subsidies like inherited wealth, appreciating land values and off-farm income. In contrast, many Ranching for Profit alumni earn a healthy profit without these personal subsidies, Pratt continued.
A sustainable business must earn a profit, and a ranch that doesn't produce a profit and that doesn't pay a decent wage to all employees (including family members) is a hobby, not a business, he said.
Most ranches are very expensive hobbies subsidized with free family labor and off-farm income. He and his company help clients transform their ranches into profitable businesses. Pratt says he doesn't have a one-size-fits-all recipe for success but can offer insights and practical tools developed and refined by the experiences of thousands of Ranching for Profit School alumni all over the world.
The workshops run from 10 a.m. to 3 p.m. each day and will be held:
--Pratt, March 20, Kansas Department of Wildlife, Parks and Tourism, 512 SE 25th Ave.
--Hays, March 21, Whiskey Creek Wood Fire Grill, 3203 Vine St.
--Salina, March 22, Courtyard by Marriott, 3020 Riffel Drive.
--Topeka, March 23, Ramada Convention Center, 420 SE 6th St.
Financial underwriters for these workshops include Bennington State Bank, Farm Credit Associations of Kansas, both Platinum-Level sponsors; The Nature Conservancy of Kansas, Silver-Level sponsor; Stockgrowers State Bank - Ashland and Meade, Kansas Section of the Society for Range Management, and US Fish and Wildlife Service Partners Program - all sponsors; and the Kansas Rural Center - supporter. Without the generous support of these businesses, organizations and agencies, the KGLC would be unable to bring this critical financial education to Kansas ranchers and land managers, said Christian.
The cost for participants who RSVP by March 13 is $40 per person. The cost is $50 for those who wait and register at the door. For those who have attended a KGLC Range School (from 2007-2012) a $10 discount is available. To register, contact Christian at 620-241-3636, email to firstname.lastname@example.org, or go to www.kglc.org and find Special Events in the navigation bar, find RFP and download registration forms.