Interested in farm benchmarking, but not sure how to get started? Want to benchmark your family farm, your farm business, or your agribusiness? Start here – we provide resources, information and much more on what is benchmarking, its benefits and its limitations.
Farm benchmarking or comparative analysis involves understand your performance and profitability over time and how that compares to other like-businesses. This can be done at a whole farm level or an individual enterprise level and can help to identify gaps and opportunities in your operation.
What is benchmarking? This is what the experts have to say:
Perhaps the simplest one-phrase response to the definition (of benchmarking) would include reference to ‘learning from others’ :….learning something new and bringing new ideas into the (business) (Spendolini 1992) (Ronan and Cleary).
This toolkit provides benchmarking data, factsheets and templates across general farm performance, beef, dairy, cropping, cotton and sheep.