Setting up a farm

businessdit

Hi all,

I am a student, finishing my business degree later this year specialising in marketing, I have a part time job working about 16hrs over the weekend, each weekend.

To be honest I have never wanted an ordinary 39hrs a week desk job, and have always loved the outdoors. Also I am a very hard worker, and have been known to work 60+hrs a week where the work is available to me. Also I am quite entrepreneurial, having set up a hobby business whilst in college.

So we have about 40 acres of land, sitting there, pretty shrubby land, but not the worst land, there are a lot of farmers where i live, and whilst i have no real experience of farming, i was thinking of buying a few sheep or starting something farm related.

So i was wondering how do farmers make their money? and what options would be best for me given my circumstances?

Mods: For the record I am also posting a similar post in the business forum as i think that audience would also have good feedback for me. Hope this is ok!

ravima

ensure you have good boundary fencing; take out Public Liability insurance at a minimum and preferrably Employer Liability as well; get a herd numbver/flock number from Dept of Ag; consider joining AEOS; have some facilities such as a crush/pen; get your animals. either a few sheep or a few hardy sucklers - maybe AA or Salers. Consider one of the rare breeds to get extra grants, such as Galway sheep or Dexter/Kerry/Moiled cattle.

Finally do the lotto every week!

stanflt

Finally do the lotto every week!








never a truer word said. farmers are the best at spending spare income

businessdit

Thanks for the replys so far, How do farmers actually make their money, take it i specialised in sheep for instance, how do i make money from them, theres hardly much $$$ in wool, so all that leaves is the price you get when you sell them to the slaughter house, but wouldnt this money you get from the slaughter house be lower than the money you have invested in each sheep in the from of food and vaccines etc?

trevor_matode

As a business student, you would understand that there are asset classes with less negative outlooks than Irish agricultural land.

Irish agricultural land prices are still artificially supported in many ways.

What I mean is that agricultural land, even after the falls, is still richly priced.

So what looks like a poor price today, looking back to 200x, many turn out to be a never-to-be-repeated price going forward.

I suspect you can't consider selling the land due to some (I respectfully suggest probably misplaced) regard for your ancestors.

If that is the case, then tell us and good luck whatever you do.

But as a business student, surely you must consider at least liquidating the richly-priced asset, and investing elsewhere.

MacraPat

Hey Businessdit,
I'm a student too (DIT science), also with an interest in the outdoors and farming.
I joined Macra na Feirme two years ago, it's a grand way to learn more about farming. From Farm skills to silage competitions to stock judging Macra has it all.
They'll help you learn your trade and and have the craic while you're at it.
Go to macra.ie for more details.

On to making money, most farmers seem to be breaking even with the subsidies. The only lads really making money off the land are the boys going direct to the customer with value added products and many strings on their bows. It's not just any sh!te it's M&S sh!te. :D

Starting from scratch will take a substantial amount capital. Prices for second hand tractors are pretty low here but sheds and concrete yards will always cost ya. Let us know how you get on.

locky76

businessdit wrote: »

Thanks for the replys so far, How do farmers actually make their money, take it i specialised in sheep for instance, how do i make money from them, theres hardly much $$$ in wool, so all that leaves is the price you get when you sell them to the slaughter house, but wouldnt this money you get from the slaughter house be lower than the money you have invested in each sheep in the from of food and vaccines etc?

I don't know about sheep but the best suckler farmers struggle to break even, if you ignore single farm payment and REPS money.
A farm that's run down is a money pit and will take three to five years to get on an even keel.
But it is a great way to put money aside and if you build it up slow and steady you'll never be too much out of pocket, just don't go mad trying to build Rome in a day!!!
Best of luck;)

bbam

I'd be careful of the advice you're receiving over in your other identical thread..

http://www.boards.ie/vbulletin/showthread.php?t=2056154187

YouProduce wrote: »

Farming is extremely viable these days, especially if you are not overly dependant upon commodities. Food prices are hitting the rough and there is a natural correlation between the price of food and the price of oil, which means they are going to stay that way. Food prices have been deflating for 30 years and they are about to go up for the next thirty years.

Food prices have not been deflating for 30 years, nor has the price of oil..

My comment would be that in the last 20 years the price farmers receive for produce has been inversly linked to the price of oil, a very different situation..

A simple piece of research would be to check back the years for the price of sheep/milk/beef and compare this to the price of fertilizer and diesel.

Certain types of Farming may be viable but those happening on the scale of 40 acres, well the proportion which are "extremly viable" are very few if they exist at all in this country..

What I would say is listen to those who are currently farming rather than those who are just having a go to advertise their websites.. I can not understand why that post wasn't edited by mods..

kboc

Heard a possible inspirational story once on the Late Late Show. I think it was your man Mansfield or who ever owns a lot of that developed land around Citywest, Dublin

Mr Mansfield at a silly young age sees land for sale. Goes into the bank and asks for money to buy ground. They agree to give him the money so sale agreed on ground.
He had no deposit though! He borrowed some machinery and made hay on the ground he had sale agreed on. Sold the hay and got his deposit for the very same land

Different times though.

Good luck, never give up on your ambition.