RED DEER – There’s no cookie cutter way to transfer a farm from one
generation to the next, but having a profitable operation helps, says a
Saskatchewan farm family.
“The key to intergenerational transfer is to have a profitable ranch,”
said Don Campbell, whose family has developed its own way to allow a
smooth transition between generations.
Campbell spoke at the recent Western Canadian Grazing Conference.
He said his only experience with intergenerational transfer was the
Read Also
Land crash warning rejected
A technical analyst believes that Saskatchewan land values could be due for a correction, but land owners and FCC say supply/demand fundamentals drive land prices – not mathematical models
bumpy ride he had when taking over from his father.
Knowing there had to be a better way, the family hired a professional
facilitator to help them plan the transition to his children, even
though Campbell was a trained facilitator with his work in holistic
management.
“I knew there was no way I could be the facilitator for our own
business. I would be perceived not to be neutral.”
The family spent two weekends drawing up their goals for people, land
and production. They hired an accountant for advice and they even
tackled the tricky question of what happens if divorce breaks up their
children.
Two married sons are involved in the farm. The two daughters do not
farm.
Campbell said daughters-in-law are treated the same as daughters and
have the same share of the farm business as their husbands.
A formula has already been established to govern how the shares will be
bought, what value will be paid for them and if someone wants out of
the business, how long it will take for them to be paid.
“No, it hasn’t been easy, but it has been good.”
Son Scott said there are clear goals, responsibilities and plenty of
meetings to help the family stay focused. As well as a meeting every
Monday to plan the week’s activities, the family holds a monthly
meeting where a financial plan is presented and people exercises are
run to help family members get to know each other better.
Clear roles have also been established to help the family stay focused.
The business has a production and finance manager and a marketing and
personnel manager. Each farming brother does it for two years before
switching to another job.
“It was very complicated at times,” Scott said.
One of the keys to success is having involvement from the wives, who
are not often part of the daily farming decisions.
“The women have to be part of the meeting even though they’re not
involved in the day to day work,” Scott said.
“They must be included in the team.”
Jenna Campbell, Scott’s wife, said it’s important to feel part of the
team.
“It means a lot to have a family so close.”
Bev, the family matriarch, said the family works hard to make the
daughters-in-law feel like family. She remembers how she was welcomed
into the Campbell family when she was a new daughter-in-law.
Having an employee has also helped reduce the workload and allowed the
family to have a balanced life rather than one of long hours and
drudgery.
“Now there are six people to share the load and challenge,” she said.
In July, when Don had a heart attack, the ranch carried on with no
worries about how the work would get done. When their grandchild was
ill, they were able to spend time with the family and didn’t have to
worry about the ranch.
“Communication, trust and acceptance is so worth the effort,” Bev said.
