“I don’t think anyone else could really help us with all of this. Our plan all comes together with the marketing and the financial analysis. We wanted to make sure everything would work smoothly as we brought Drew in, but we didn’t know whether our operation could support an additional family.
We wanted to get a better understanding of how our operation would handle the transition financially – and how Drew would need to handle it on his side. We had a few ideas, but Water Street had more possibilities and different ideas to choose from.”
Doug, Geri and Justin Durdan – Streator, IL
“Looking at our financial analysis makes us more aware of our cost of production. It’s not only on an annual basis but more of a weekly basis because the actual cost of production changes frequently. I used to create my own analysis, but the Water Street financial analysis takes everything a step further by including machinery costs, land costs and more. It shows our cost of production going into a growing season, and all throughout it – so that helps us make plans and market our grain.”
Brett King – Newman Grove, NE
“The biggest impact I’ve seen on my farm with Water Street is in risk management – knowing my breakevens and making sure that I’m selling at a profitable level. Also, I can make sure that I’m always building up working capital and equity in my operation with the information in the financial analysis. Water Street has helped so much to put me in the positive financial shape I’m in now.
As a young farmer, I don’t see how you could try to be without Water Street. When you buy a piece of land or machinery, you take a hit on your working capital. Water Street helps me manage that better. They create updated financial scenarios for me when I’m thinking about a purchase. It helps me make good decisions.”