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V O L . X X I X N O. X X V O C T O B E R 3 0 , 2 0 2 3 30 FA M I LY - OW N E D B U S I N E S S F O C U S Right-size income Family-owned farms can be any size. e larger issue, says Jackson, is how much farm income is needed to support multiple generations. Larger potato farms in Aroostook County, for example, support multiple generations and employees. Others might diversify their revenue streams, can't support farming as a full-time job, or can't support health and retirement benefits. Jackson says she's seeing diversifi- cation across the industry. "Folks who never would have considered getting into agritourism are saying, 'If the weather is poor maybe I can still get value out of the property because of how beautiful it is,'" she says. Some farms now offer wedding barns and pick-your-own opportuni- ties. "ose tend to be higher-dollar customers," Jackson says. "ey're not looking for a food product. ey're looking for an experience." Weather-related stresses include this year's late freeze and torrential precipitation. Some crops suffered steep production declines. "Some orchardists suffered big losses," says Jackson. "Smaller farms in particular don't have a lot of cushion to mitigate even one season of bad weather. We're working now on resil- iency, helping farmers find resources like financial or mental health sup- port, so they feel like, if they want to stay in farming, they can do that. It will take only one more year like this for some farms to go under." Another variable is family deci- sion-making. "In some cases, those discussions are few and far between," Jackson says. Without formal decision-making or succession planning, farms "can be thrown into crisis, even if people know how to do the job," she says. "Some farms are doing a great job and being You need a legal team that can keep up, whether you're taking on Maine's next big construction project, or you're part of a tech startup looking for guidance. Whatever your industry, our attorneys have the expertise to represent you when it matters most. (207) 774-2635 | perkinsthompson.com One Firm, All Your Legal Needs » C O N T I N U E D F RO M P R E V I O U S PA G E C O N T I N U E D O N PA G E 3 2 » P H O T O S / F R E D F I E L D Andy Ricker of Ricker Hill Orchards in a portion of the farm where hard ciders are on tap and also available in bottles and cans to take home. Katie Maheu, 16, and her great-grandfather Don Ricker, 87, represent the 10th and 7th generations working on the farm. A HARD CIDER FLIGHT: (left to right) Maniac Mac Blueberry; Maniac Gold with Cranberry, Maniac Gold; Maniac Mac

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