Jeremy Doetch - The FarmingBanker

over 1 year ago

New era for Doetch Farms! Thank you SweetWater Technologies for the opportunity to help bring in the next generations of our farm. Visit: https://t.co/n6awCFjwkW to learn more!

FarmingBanker's tweet photo. New era for Doetch Farms! Thank you SweetWater Technologies for the opportunity to help bring in the next generations of our farm.

Visit: https://t.co/n6awCFjwkW to learn more! https://t.co/9ib9FEZYYB

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FarmingBanker retweeted

over 1 year ago

Merry Christmas from the Profit Manager team. 5% off on a Profit Manager purchase from 12/25/24-1/1/25. Enter discount 5FOR2025 at checkout. Get your numbers and office in order for 2025. https://t.co/6yeTOLzYEf

FoulkShay's tweet photo. Merry Christmas from the Profit Manager team. 5% off on a Profit Manager purchase from 12/25/24-1/1/25. Enter discount 5FOR2025 at checkout. Get your numbers and office in order for 2025. https://t.co/6yeTOLzYEf https://t.co/e0cYkcEb5Y

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almost 2 years ago

This is a powerful tool for your farm!

almost 2 years ago

Lots of crops? No problem for Profit Manager. $2,495. Excel based. You own it for life, no continued fee- we are here to support (built by farmers for farmers). No data collection, ever. Start 2025 off right- get your numbers in order. https://t.co/6yeTOLzYEf

FoulkShay's tweet photo. Lots of crops? No problem for Profit Manager. $2,495. Excel based. You own it for life, no continued fee- we are here to support (built by farmers for farmers). No data collection, ever. Start 2025 off right- get your numbers in order. https://t.co/6yeTOLzYEf https://t.co/C20dnFAl2a

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Who to follow

FarmingBanker retweeted

almost 2 years ago

My goal is to provide value and perspective to your farm operation. Today we will take a look at Equipment Replacement Costs on a basic level. Equipment Costing is usually the 2nd or 3rd line item expense and is often the most misunderstood and mismanaged. One mistake we see operations make before we start working with them in Profit Manager is accurately accounting for equipment costs. Many are too wrapped up in depreciation alone. What is also happening in that time frame is that original asset base value has risen due to inflation and 'appreciation' in value of the machinery for whatever reason. In this scenario, a $250,000 tractor with heavy use in 5 years may have a "salvage" or "trade" value of $150,000. But to replace that unit is not a base line of $250,000 anymore, it is $325,000. You are NOT writing a check for that inflationary impact of $15,000 per year, but you are going to when you trade. And herein lie the discrepancy. Most operations only account for the variable use such as fuel and maintenance and repairs, and depreciation, while not considering the inflationary impact that is occurring simultaneously. Compound this over 4, 8, 12 pieces of equipment, and it significantly impacts the bottom line as far as cost of production is concerned- often to the tune of $.40-.80/per bushel higher than what they thought their cost of production was. As I'll outline tomorrow, we have built Profit Manager to calculate equipment costs more in-depth than this, while also allowing you to put in your assumptions such as how many years you'll wait to trade, fuel efficiency, labor cost, etc. Equipment Costing is usually the 2nd or 3rd line item expense and is often the most misunderstood and mismanaged. I hope this helps provide some perspective, and let me know if you have any questions

FoulkShay's tweet photo. My goal is to provide value and perspective to your farm operation. Today we will take a look at Equipment Replacement Costs on a basic level.

Equipment Costing is usually the 2nd or 3rd line item expense and is often the most misunderstood and mismanaged.

One mistake we see operations make before we start working with them in Profit Manager is accurately accounting for equipment costs. Many are too wrapped up in depreciation alone. What is also happening in that time frame is that original asset base value has risen due to inflation and 'appreciation' in value of the machinery for whatever reason.

In this scenario, a $250,000 tractor with heavy use in 5 years may have a "salvage" or "trade" value of $150,000. But to replace that unit is not a base line of $250,000 anymore, it is $325,000.

You are NOT writing a check for that inflationary impact of $15,000 per year, but you are going to when you trade. And herein lie the discrepancy.

Most operations only account for the variable use such as fuel and maintenance and repairs, and depreciation, while not considering the inflationary impact that is occurring simultaneously. Compound this over 4, 8, 12 pieces of equipment, and it significantly impacts the bottom line as far as cost of production is concerned- often to the tune of $.40-.80/per bushel higher than what they thought their cost of production was.

As I'll outline tomorrow, we have built Profit Manager to calculate equipment costs more in-depth than this, while also allowing you to put in your assumptions such as how many years you'll wait to trade, fuel efficiency, labor cost, etc.

Equipment Costing is usually the 2nd or 3rd line item expense and is often the most misunderstood and mismanaged.

I hope this helps provide some perspective, and let me know if you have any questions

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FarmingBanker retweeted

almost 2 years ago

My goal is to provide value and perspective to your farm operation. if you're interested in this system (not free) check out https://t.co/594eodY6Uf. Today we discuss our evaluation of crop production inputs and expenses, and how we think about them in our decision-making process. Maps and data are interesting, but how do we really market our crops and make business decisions? That's what's at the heart of Profit Manager. I hope this provides some perspective and helps you think about your own decision-making and cost of production analysis.

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almost 2 years ago

Part III - The last and final piece of the "Get your (Farm Financial) House in Order." Pull it all together and cast yourself in the best light with your bank. To learn more visit: https://t.co/8S1zRFruga https://t.co/UNk09NkMrr

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almost 2 years ago

Part 2 of "Get your (Farm Financial) House in Order recap. Part 3 coming soon!

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almost 2 years ago

Part II of the "Get Your (Farm Financial) House in Order." To learn more visit: https://t.co/8S1zRFs25I https://t.co/3ISu8zBgA0

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almost 2 years ago

Part 1 recap of "How to get your (Farm Financial) house in order. Full detailed version of part 1 can be found here: https://t.co/QmjGCi2C53

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almost 2 years ago

Get your house in order - Part I Here is the full version of Part I. What to do in the August/September timeframe. We get a rainy-day during harvest.... Perhaps it's time to do the 2 steps in Part I if you haven't already. https://t.co/QmjGCi2C53 via @YouTube

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almost 2 years ago

We’ve made it easy!!! #TikTok https://t.co/v8SAUWm72K

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almost 2 years ago

The Financing Toolbox! A process on how to get your house in order and improve your banking relationship. Is your farm presented to the bank in the best way possible? Does the bank fully understand your vision and direction for the farm? https://t.co/vTTNsDhbtn

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over 2 years ago

New podcast out…my buddy CD pointed out to me it’s been too long! https://t.co/RzKYT6mxxl

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over 2 years ago

@isufarmer Smart man!

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almost 3 years ago

We snuck in this one last house wash for the season and boy did it turn out great! Beautiful home, great project for us. Get your's on the list for next year! Visit: https://t.co/awfj7eRoMn

FarmingBanker's tweet photo. We snuck in this one last house wash for the season and boy did it turn out great! Beautiful home, great project for us.

Get your's on the list for next year!
Visit: https://t.co/awfj7eRoMn https://t.co/h8ht0R75u6

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Chris Doetch @ChrisDoetch

almost 3 years ago

Ahhhh…the Doetch Brothers will be reunited again! So proud!

almost 3 years ago

Committed. @UWPlattFootball @NorthBooneFB @Ryan_Munz @CoachAllender7

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about 3 years ago

We just started using an oxidation remover and here you can see the before and after. The pinkish color is oxidation from the sun. You can see we were able to remove the oxidation and bring back a deeper color for the doors.

FarmingBanker's tweet photo. We just started using an oxidation remover and here you can see the before and after. The pinkish color is oxidation from the sun.

You can see we were able to remove the oxidation and bring back a deeper color for the doors. https://t.co/9hnJ39rFD1

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about 3 years ago

Here is a before and after of the grade school exterior wash we did. This was a soft wash exterior clean to remove the years of organic matter that has grown on the brick. No job is too big. We tackle large buildings and multiple pieces of equipment in a day. Just ask us!

FarmingBanker's tweet photo. Here is a before and after of the grade school exterior wash we did. This was a soft wash exterior clean to remove the years of organic matter that has grown on the brick.

No job is too big. We tackle large buildings and multiple pieces of equipment in a day. Just ask us! https://t.co/mK08GkkJ2R

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