115116 - Farm Management Services
If you're involved in the agriculture sector or looking to partner with firms that provide specialized agricultural management, understanding NAICS code 115116 is essential. This code represents Farm Management Services, a critical component in managing and optimizing farm operations for profitability and sustainability.
What is NAICS Code 115116 – Farm Management Services?
NAICS 115116 covers companies and organizations that provide farm management services, meaning they plan, organize, and supervise farm activities on behalf of others. These services aim to enhance productivity, improve resource utilization, and maximize the financial returns of farming operations.
Farm management companies typically handle everything from crop and livestock supervision to consulting on best agricultural practices, making them invaluable partners for farm owners who prefer professional oversight.
Sector Overview: Agriculture, Forestry, Fishing and Hunting
NAICS 115116 falls under the broader Agriculture, Forestry, Fishing and Hunting sector, highlighting its pivotal role in supporting the backbone of the economy — food and raw material production.
Typical Business Activities Under NAICS 115116
Businesses classified under this code generally provide:
- Farm management consulting: Advising farm owners on operational efficiency, crop choices, and market conditions.
- Agricultural operation supervision: Overseeing day-to-day farm functions ensuring timely planting, harvesting, and maintenance.
- Crop and livestock management services: Coordinating animal husbandry practices, pest control, fertilization, and irrigation strategies.
Size Standard for NAICS Code 115116
To be recognized as a small business under this NAICS code for government contracting and other purposes, the size standard is set at $15.5 million in average annual receipts.
This means businesses with annual revenues below this threshold qualify for small business benefits, including certain government contracts.
Examples of Businesses Under NAICS 115116
- Farm consulting firms specializing in crop yield optimization.
- Companies managing livestock production operations.
- Agricultural supervisors who handle labor, equipment, and scheduling of multiple farms.
- Third-party entities that provide comprehensive farm management solutions for absentee landowners.
NAICS Code 115116 Details Table
| Attribute | Description |
|---|---|
| NAICS Code | 115116 |
| Title | Farm Management Services |
| Description | Managing farms and agricultural operations on behalf of others including planning, organizing, and supervising farm activities to optimize productivity and profitability. |
| Sector | Agriculture, Forestry, Fishing and Hunting |
| Code Details | Farm management services, Management services (farm) |
| Typical Business Activities | Farm management consulting, Agricultural operation supervision, Crop and livestock management services |
| Size Standard | $15.5 million (average annual receipts) |
FAQs: Understanding NAICS 115116
Q1. What services are included under Farm Management Services?
A1. Services include planning, organizing, supervising farm activities such as crop and livestock management, operational oversight, and consulting.
Q2. Who hires companies classified under NAICS 115116?
A2. Farm owners, agricultural investors, absentee landowners, and government agencies seeking professional farm management.
Q3. How does the $15.5 million size standard affect eligibility?
A3. Businesses with less than $15.5 million in average annual revenue can qualify as small businesses, gaining access to specific government contracts and programs.
Q4. Is NAICS 115116 relevant only to crop farms?
A4. No, it applies to both crop and livestock farm management services.
Q5. Can consulting firms be classified under this NAICS code?
A5. Yes, farm management consulting firms that specialize in agricultural operations fall under this code.
Understanding NAICS code 115116 - Farm Management Services is key for agriculture-focused businesses, contractors, and farm operators looking to maximize operational success. Whether you’re seeking farm management expertise or aiming to serve this niche, familiarizing yourself with this NAICS classification can open doors to new opportunities and government contracts.
Optimize your agricultural ventures today by leveraging the insights and services encapsulated by NAICS 115116!
