Snobdds
Elite Member
I love the challenge. It inspires me to rise up to it and defeat it. If you knew me personally and saw me, you’d understand.
In some cases you are right, but many of have found the sweet spot. There’s a lot of gross income, but the expenses can be quite high. Depends on your repairs/parts invoices for the year. Sometimes you get the bear, sometimes the bear gets you. It IS an equipment-oriented business. The key for me is to have off-farm work that supplements my income. I consider my business as a “large property management” business. We take on anything from farming, to tree work, to brush clearing, large area mowing, etc.
Any kind of farming or bull-work and we have you covered. If all I did was farming, I would acquire more land and make more gross income from hay sales. We could never have enough mushroom hay to sell. Its a unique area with a unique demand. We have hay trucks pouring into my area 6 days a week loaded with hay.
Partially correct. The expenses are great if you must have newer equipment. I run mostly ~10 year old equipment. It’s fine and doesn’t really give me too much unexpected trouble.
However, in MY area, bigger farming businesses are more than happy to gobble-up smaller ones. This just happened in my area. A medium sized hay farmer went under. I was given about 150 acres and another much larger farmer got 500+ acres.
In MY area, the small guys are dropping like flys.
That happens here occasionally. 2nd or 3rd cutting can be thin enough to be left as fertilizer and the existing grass stand will grow through it.
I think you're good at what you do. It seems you are a quick study and each mistake is a learning experience. I think your key to success is diversification. Not all of your eggs are in one basket.
I hope for your success. I'm always looking for little examples of how this country is doing. I always pay attention to your haying business because you are a bellwether of so much of what America is. I'm saddened to hear of a similar person failing. I am very cognizant in my line of work to the affordability of life. I deal with very costly products and I too see people and business failing right now. We need some things to go right in the near future, otherwise...it's bleak.