Management Tools for Syrup Producers

The Next Generation North program had a number of workshops over the last three months on topics of marketing, financial management and value-added processing.

Not a lot of time was specifically on maple syrup producers, so this blog post summarizes some tools that producers may find useful.

These tools come from Michael Farrell (Extension Associate) of Cornell University who spent some time in Algoma back in 2015 to meet with producers.

Presentations

Overview of the Maple Industry – In Farrell’s first presentation he shared some information including syrup production, tap potential and market trends.

Net Present Value Analysis Tapping vs. Timber Production – In Farrell’s second presentation he shared a net present value analysis for tapping vs. timber production (keep in mind, he’s from Vermont). Net Present Value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows. NPV is used in capital budgeting to analyze the profitability of a projected investment or project.

Tools
With his visit he included some useful Excel based tools for producers who are pricing their products and making production decisions. These are useful producers who areĀ  starting or expanding a maple syrup operation.
These included:

If you are stuck with these tools, they are best paired with The Sugarmakers Companion: An integrated guide to producing syrup from maple, birch and walnut trees (can be purchased at Amazon.ca).

The Cornell Maple Program’s website has many more resources for business planning, marketing planning, and cost evaluations for tubing and vacuums.

Ontario Maple Syrup Producers Association (OMSPA) also has a resources page on marketing, remote monitoring, and economic impact.

This article was developed as part of the Next Generation North Project.

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This project was funded in part through Growing Forward 2 (GF2), a federal-provincial-territorial initiative. The Agricultural Adaptation Council assists in the delivery of GF2 in Ontario.

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  1. Pingback: Rural Agri-Innovation Network (RAIN) - Five marketing tips from Slate River Dairy | Rural Agri-Innovation Network (RAIN)

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