Those of you who own farms and actually sell your wears

[SophieLain127]

did you just jump in and start a farm or did you make a business plan and approach it from a business stand point?


DH and I have been talking about it for quite some time and are unsure if we should just buy the property and slowly work up to getting it to a full functioning farm or if we should get a farm loan and jump in full force.


Recommendations from anyone else who has taken on this adventure would be greatly appreciated.

 

[Katy]

I would say it very much depends on what kind of farm you are wanting to start. Grain farm, truck farm, livestock farm? Do either of you have any experience with any kind of farming? Start up costs for anything other than a very small truck farm would be very high by the time you get land and equipment bought.

 

[Cindiloohoo]

My suggestion would be to approach it like anything else and work your way into it. A gradual approach keeps risk low, and let's you get a feel for your local market. Jumping in with a farm loan COULD be a fatal mistake if the market won't hold. Also, it will give you time to gain experience with the animals/crops/whatever that you can't put a price tag on. We started with a dozen chickens 2 years ago. Now we have ventured into goats, rabbits, and quail a bit at a time. I would have NEVER jumped in with all of these animals at once! The learning curve is too delicate when dealing with live animals IMO. I'd take it slow and a you learn more and get more comfortable, make little additions. I hope you do well however you decide to approach it! If you already have experience then you might take it a bit faster as it is the market that will be the only concern then. Supply and demand is variable.

 

[herefordlovinglady]

I agree with Cindi.

Be sure to check out your local NRCS, they have plenty of programs/grants for new farmers. also stay in touch with your local county extension office, they can direct you as well.

Our farm started as DH's 4-H project. He grew it to what it is today. I married into it. We breed and sell registered hereford cattle. if you're interested in cattle contact us and we will be happy to give you direction.

 

[TheRanch]

Well, we got into it by "accident" and then it just kept growing. As it started to grow - we did our homework on what the local needs and responses were and then fine tuned our buying and selling toward that market. With the growth of "healthy" eating and lack of faith/trust in the commercial world a LOT of people are looking for healthier alternatives and are willing to pay for it.

We have several large farms around here that raise free range and pesticide free farm items and just can't keep up with the demand. We happened to see and hear the opportunities and "jumped on the bandwagon". We have kept our expenditures at a minimum (under $1.5k) and are growing as sales allow it. This way we keep ourself OUT of a debt situation and growth is based on sales only. If you want quicker growth and are willing to go into debt make sure you really research the opportunity first. We happened to have land and got a commercial place for dirt cheap on a main road, I know I would NOT have done this if I had to go into great debt or without qualifying the NEEDS first.

A business plan needs to be developed even if it is a small business. How you are going to grow your business, goals and where to cut expenses should be a part of ANY money makin venture - regardless of size!! JMHO

 

[Katy]

We live on and farm the land that has been in my husband's family since the 1880's plus we've added acres to it over the last 37 years. It is all he and I have ever really done. Even with an established operation there are years it is very hard to turn a profit.

 

[SophieLain127]

Thanks everyone. Slow and steady wins the race this time.

 

[Katy]

Just curious....... what kind of farm you're hoping to start?

 

[DuckLady]

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How COOL!!!!!

 

[Whispering Winds]

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I took a business class at a local college just to get the feel of it, because I never went to college when younger, and this is very sound advice on this post. You have to know your area and the market and the need for your product. I dream of having a small but profitable Alpaca clothing store on my property, as well as some fresh vegetables in the seasons . . .and eventually will have some of it, if not all. Good luck!! The more we come back to the land, we better off we are.