SnapShot™ is the Rural Directions business benchmarking system, used by business owners to monitor performance and progress. Simply put, SnapShot is like a health check for a business, highlighting successes and areas for improvement.
In the 17/18 production year, 87 individual farms benchmarked their businesses. The SnapShot Combined Report provides an overview of farm performance for that year across those 87 businesses.
The report provides background information on the range of enterprises. It focuses on key business benchmarks such as profitability, overhead costs, input costs, gross margins, cost of production, financing costs, labour efficiency, machinery investment ratio and return on investment, among others. It considers both cropping, mixed and livestock enterprises.
Often simple changes can be identified from SnapShot benchmarking figures that, with minimal effort, can directly influence profit. The report compares the 'top 20%' producers (selected by return on equity) to the average. This helps develop an understanding of profit drivers in businesses. It will help you to understand what may be driving profit in your business, and where potential improvements may be.
The data that provides the basis for the report is collected annually from clients that use our benchmarking services. Our Advisory Board, Crop to Market, Independent Farm Management Review and Grain Marketing Service clients also benchmark their businesses annually.
As a bonus, when you order the SnapShot Combined Report, you will also receive our Management Training Enews. This free newsletter will be emailed to your in box each time it is published.