Pennings Farm
The current owners approached HVADC to seek assistance in evaluating the different options for expanding their cider operation and for incorporating their children into the operation as it continues to grow.
Pennings Farm is a multi-faceted family farm business and orchard. The business consists of a fruit and vegetable farm, orchard, farm market, hops yard, pub and grill, ice cream stand, garden center and beer garden, all located in Orange County. The current owners approached HVADC to seek assistance in evaluating the different options for expanding their cider operation and for incorporating their children into the operation as it continues to grow. Several alternatives under consideration included purchasing the land to expand at the current location, expanding on other land that the family already owns, and purchasing neighboring property. HVADC worked with the family to examine and evaluate their different alternatives. This included a financial analysis and the development of a business plan with financial projections to be used to secure project financing. HVADC also assisted the owners in developing a plan for their children to take control of the cider operation. This will be a separate business from their existing operation so that there is no conflict with the existing liquor license held by the farm market. The business plan for the new venture is currently in process.