Entry Details

About the Entry

Category: 
Print > Single Topic Coverage > Heartland

Title of entry: 
A Balancing Act: Dynamic Market Conditions Are Forcing Many Top 100 Growers to Walk a Tightrope

Issue or Publication date:
May 2024

Publication name: 
Greenhouse Grower

View Website home page:
GreenhouseGrower.com

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Entry Essay: 
Greenhouse Grower's audience includes ornamental growers of all sizes. But regardless of scale, many of these operations face similar challenges. As our team was surveying our audience and compiling information for our annual Top 100 Growers list (which ranks the largest companies in the industry by square feet), we learned that some companies were capitalizing on market opportunities coming out of the plant-buying boom during the COVID-19 pandemic by growing and investing in themselves. However, others were facing internal and external challenges. In fact, a handful of companies — some of which were multi-generational family-run businesses — had been forced to close, due to factors ranging from the lack of a succession plan to poor expense management to a challenging regulatory environment. These headwinds were significant enough that we chose to dedicate much of our May issue to the topic. Rather than dwelling on the negative, however, we wanted to focus on how to weather the storm, with insights on why having an exit plan is critical, how to stay financially resilient, and more. Articles in this issue included: 1) our annual rankings; 2) a candid conversation with the CEO of one of the operations forced to shut down; 3) a piece from the president of the industry's leading trade association on how to stay resilient amid market challenges; 4) tips from successful companies on how they have evolved, and 5) best practices for successful horticultural industry succession and exit planning.