FRI was founded in 1946 by Dr. Charles H. Sandage, a renowned agricultural market research expert. While consulting with an Indiana agribusiness firm, Dr. Sandage identified the need for an independent panel of farm producers for agricultural related market research. He then established FRI and operated the firm for almost 50 years. Dr. Sandage retired in 1995.

Dr. Sandage grew up and worked on a farm until he left for college. He was a professor of advertising at Miami University, Harvard Graduate School of Business, the University of California, and the University of Illinois, and is recognized as having pioneered the development of systematic research of the farm markets. Dr. Sandage's numerous appointments include Director and Vice-President of the American Marketing Association, Director of Research of the Institute of Transit Advertising, Division Chief of the U.S. Bureau of the Census, and Research Consultant to the Federal Communications Commission. He was also became a member of the Advertising Hall of Fame in 1985. Dr. Sandage was head of the advertising department at the University of Illinois until he retired in 1968 to concentrate his efforts in agricultural research. He is author of many magazine articles, pamphlets and books, and also owns a small farm in Illinois.