The Golden Barrel fondant comes shipped in two layers of cardboard boxes, inside is a solid 50lb block of fondant they vacuum seal into a plastic bag. It is very well packaged, but quite heavy, so not necessarily convenient if you are looking for just a few pounds!
Our processing is quite simple. We take the inside box apart at the seams to expose the plastic bag (and protect the table top), positioning the block on a work table with the short end facing us. After opening the bag to expose the fondant, we cut slices that are roughly one inch deep (or deeper for light hives) and let it fall towards us landing on a piece of wax paper. I use a 22 inch machete which allows me to angle the knife so the fondant falls directly on the wax paper without having to move it by hand, but any longer knife would work. The key is that the fondant is solid, but very most, so almost no effort at all is required to cut from top to bottom.
This results in roughly a 12"x12" chunk that is an inch deep, wrapped in wax paper. We just throw the pile of slices into a sealed plastic container that sits in our always cold and seldom dry New England basement, this prevents them from drying out before we need them. Anything we don't need to cut right away is re-wrapped in the original plastic and put back in the box. I had a block from last winter and it was just as moist as the day I first cut it, but I think the key is to keep it airtight, cool and dry.
I know many of the local bee supply stores have fondant in smaller quantities, they only add on a buck or two per pound which is reasonable if I only had one hive. Perhaps you could split the 50lb block with your friends, club or even keep leftovers for the late winter hive checks? Good luck!