Ever have a new idea for a farm enterprise, but you’re not sure if it will work? You’re not alone.

When it comes to farm businesses, Mallory Rahe, University of Missouri Extension associate professor, notes that a little less than half of them close within five years.

Enter Intel for Ag, a free online tool designed that assesses the viability of a new enterprise before making an investment.

“Farming is such a complicated practice,” Rahe says. “There are many times that people are super passionate about a new idea, and they get too far down the road to realize it is not doable on their current property. This tool allows them to spend time thinking it through and determining the feasibility of the idea.”

Rahe says Intel for Ag offers insights that can help operations of all sizes make management decisions for long-term success.

Need for feasibility analysis

The tool helps farmers analyze ideas through multiple lenses — technical feasibility, land suitability, management capabilities, labor requirements and market potential.

Rahe says Intel for Ag answers questions such as:

“Because there’s so much work to do just to execute a new business plan,” Rahe adds, “Intel for Ag can help producers look at its possibility, then put together a plan quicker.”

Deep dive into new tool

Intel for Ag goes beyond simply identifying agricultural products that fit a farm, Rahe says. It also evaluates marketing opportunities in a community and areas to expand.

Here are a few key features:

Land suitability maps. These maps provide users with a quick overview of whether they can realistically implement the idea on their property. Rahe says this approach helps producers assess whether a particular enterprise, such as raising beef cattle or cultivating a specific crop, will work with the characteristics of their land.

Market intelligence reports. This feature helps users identify local market opportunities, including farmers markets and grocery stores. During an Intel for Ag presentation, a man approached Rahe and said, “It took weeks trying to figure out what my market was, and you just showed me my market in two minutes.” She notes that Intel for Ag reduces time spent on market research.

MARKET VIEW: Intel for Ag provides farmers with a geographical look at places to sell specific products from the farm. The tool allows for navigating to hyperlocal or more regional markets. (MU Extension)

Business startup resources. This section includes a startup checklist, breakeven analysis and market channel cost assessment tool. Rahe says these resources allow producers to evaluate their marketing expenditures and understand the potential return on investment for expanding their market reach.

“It makes them think, ‘Could I double my sales by traveling 35 miles instead of 15?’” Rahe says. “It offers a more realistic look at what you already are doing to market your business and what you might be able to do.”

Call to action for producers

For many farmers, the concept of conducting a formal feasibility study can seem intimidating and pricey.

Intel for Ag serves as a cost-effective alternative, Rahe adds, offering users the insights needed to assess enterprise viability without the hefty price tag of traditional studies.

Her most important takeaway for producers is simple: Get online and explore Intel for Ag.

“The platform is designed to be user-friendly and engaging,” she says. “Whether you’re a seasoned farmer looking to diversify or a newcomer exploring agricultural opportunities, it empowers producers to gather information and evaluate their ideas before making substantial financial commitments.”

Learn more about Intel for Ag and explore decision-support tools at intelforag.org.