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Sep 032013
 

Financing your farm dreams

Oftentimes, when thinking about owning a hobby farm we dream of beautiful rows of gorgeous crops, a quaint barn and hordes of customers waiting for our farm gates to open.  This dream is real and can come to fruition. However, there is some proactive work that needs to be done before you can accomplish this dream.  One of the first, and possibly the most important action, is taking stock of your financial resources.  Depending on your dream and the size of your property, your cost estimate to start your farm enterprise is very important to know.  Take out a sheet of paper or open up an excel spreadsheet and lets think of the bare essentials you will need to pay for.

Land, seedlings or animals, fertilizer, a barn or shed to store equipment or animals, equipment (i.e. tractor, rakes, hoes, shovels, hoses, drip system or sprinklers, wheelbarrows, gloves, etc.), marketing supplies, computer, and an accountant and bookkeeper are all things that you should consider when you are thinking about opening up a farm. These are just the tip of the iceberg, but when added up they can be quite eye opening. It is important for you to write down all the necessary things you will need to start up and pay for until your farm goods are ready to sell.  Knowing this number will help you decide how to pay for the investment in your dream. Continue reading »

 Posted by at 12:39 am