Farming, Viable Career Option?

CluanBomb

Curious to people's opinions on this.

I am 24 working in accounting, taking my final exams alongside work and also beginning the online green cert this Sep.

I hate the accounting but admit its a good paying career.

My father is near retirement and runs the family farm, it's approx 150 acres in 4 lots within 10 mile radius and I think it's down to about 30 sucklers now.

The infrastructure is good with sheds on the three bigger lots so everything can be in in the winter and they would under stocked if being honest! We have all own machinery which is quite new so nothing needed in that regard and could really contract if I wanted too.

I'm tempted to start putting wages into investing in stock for the farm to do it full time in future.

Love the lifestyle but would like to be comfortable for money in the also. I think the investments at the beginning would only be for stock and reseeding a few bits.

Would you think there will be a future for the smaller beef farms or would you say from experiences its now a job that barely pays in many cases? Is expansion very difficult with current margins?

I would be very business minded so I believe I would run it efficiently.

Opinions and advice welcomed!

Marooned75

If u do go down that route would ya not lease one of the out farms for a few years allowing you to concentrate on the others small steps and at least an income on leased land to put to use on helping you get started.

yellow50HX

Marooned75 wrote: »

If u do go down that route would ya not lease one of the out farms for a few years allowing you to concentrate on the others small steps and at least an income on leased land to put to use on helping you get started.

Yeah would agree, lease part of the place from your dad, if he is down to 30 sucklers then he could continue to farm the hoe spot and let you worry about the outside places. It would give you a basis and allow to build up your side of tha farm, if its feasible in a few years then you could look at the whole lot.

Have a chat with you ol lad and see what he thinks.

epfff

CluanBomb wrote: »

Curious to people's opinions on this.

I am 24 working in accounting, taking my final exams alongside work and also beginning the online green cert this Sep.

I hate the accounting but admit its a good paying career.

My father is near retirement and runs the family farm, it's approx 150 acres in 4 lots within 10 mile radius and I think it's down to about 30 sucklers now.

The infrastructure is good with sheds on the three bigger lots so everything can be in in the winter and they would under stocked if being honest! We have all own machinery which is quite new so nothing needed in that regard and could really contract if I wanted too.

I'm tempted to start putting wages into investing in stock for the farm to do it full time in future.

Love the lifestyle but would like to be comfortable for money in the also. I think the investments at the beginning would only be for stock and reseeding a few bits.

Would you think there will be a future for the smaller beef farms or would you say from experiences its now a job that barely pays in many cases? Is expansion very difficult with current margins?

I would be very business minded so I believe I would run it efficiently.

Opinions and advice welcomed!

Simular situation here
hate my job
have150 acres here well stocked etc
was going to go at it full time last year but when I done my sums it would be only an existence I would get out of it not a living

Mulumpy

I doubt there would be too many contractors out there encouraging you into the business with spiralling costs especially diesel. Is there any way you could run an accountancy job from home. Id be slow giving up the day job til your well set up at home. Too many lads out there doing a lot of driving with fragmented farms and making nothing. As good advice was given to once hasten slowly and you'll figure it out in the end.

munkus

epfff wrote: »

Simular situation here
hate my job
have150 acres here well stocked etc
was going to go at it full time last year but when I done my sums it would be only an existence I would get out of it not a living

Same situation with me. Will be taking over this year and will go to 4 day week at job. A balls doing both but what can be done.

pakalasa

A farm of land worth maybe €1.5 Million and you can't make a living on it.

Dampintheattic

CluanBomb wrote: »

Curious to people's opinions on this.

I am 24 working in accounting, taking my final exams alongside work and also beginning the online green cert this Sep.

I hate the accounting but admit its a good paying career.

My father is near retirement and runs the family farm, it's approx 150 acres in 4 lots within 10 mile radius and I think it's down to about 30 sucklers now.

The infrastructure is good with sheds on the three bigger lots so everything can be in in the winter and they would under stocked if being honest! We have all own machinery which is quite new so nothing needed in that regard and could really contract if I wanted too.

I'm tempted to start putting wages into investing in stock for the farm to do it full time in future.

Love the lifestyle but would like to be comfortable for money in the also. I think the investments at the beginning would only be for stock and reseeding a few bits.

Would you think there will be a future for the smaller beef farms or would you say from experiences its now a job that barely pays in many cases? Is expansion very difficult with current margins?

I would be very business minded so I believe I would run it efficiently.

Opinions and advice welcomed!

150 acres. Good infrastructure. Good machinery.
That's one hell of a start.
Rather than farm a farm that size, on a part time basis, while working as an accountant full time, you could consider the opposite method.
Part time accountant, full time farmer.

Timmaay

CluanBomb wrote: »

Love the lifestyle but would like to be comfortable for money in the also.

Hmmm this is by far going to be your biggest problem! What sort of wage do ya expect to be on say 10yrs down the road at accountancy? I'd assume likes of 50+ a year? The only way you'd be matching likes of that would be say milking 100 cows, which you could do if you had a block big enough of decent land, something around the 100acres, plus another 30/40 for the followers/silage. How fragmented is your current land, when you say 4 different blocks, are they similar size, or is one bigger than the rest?

One thing is for sure though, going at the likes of a small sucker herd of say the current 30 you have, or even 50, and renting the rest 2bh will definitely only be hobby as such, and wont have much potential to support you, combining this with an already stressful accountancy job, your not going to stick both out too long at all! I suppose it depends on how involved your dad is, if he can still do most the work it wont be too bad.

Finally, on the land fragmentation, is there any scope to sell off one or two of the blocks, and buy up closer, or ideally adjoining yourown? Obviously not the easiest thing to do considering how infrequently land changes hands, but travelling 10miles between farms quickly becomes a pain in the hole, and adds big expenses to the likes of slurry/silage etc.

CluanBomb

Thanks for all the comments so far, I won't quote them all in the reply.

I agree that it's a hell of a start with no repayments, nice bit of land and machinery that means no contractor bills required. It's sad I even have to be asking if a comfortable living can be made in these circumstances!

The double jobbing would be difficult as I work in Dublin and will qualify through financial services which there is little work for at home, I would need to get into a practice near home and work many years before being able to work on my own. I commute currently and it's 5.30 up and 7/8 home so that couldn't work currently!

As stated above the money in my current work will be good and starting to push on in the next year or two! Some say stick it out for the money.

The farm is 60 50 25 15 acre blocks! The smallest ones are furthest away. I'd dairy if it wasn't so split. No land for sale nearby but I'd sell the smaller blocks to expand nearer home alright. The 3 bigger blocks have own slatted sheds/silage grounds so not too much costs in drawing stuff.

I weigh it all up!

Toplink

Your 24 and you have very little debt I would assume. You could make a go of this as your outgoings are low. However you should try to get some experience in accountancy first though... ideally a local small operation where youd get some invaluable experience. Once you have a few years experience you could start up from home.

I am in a slightly similar position to you but I am 10 years older than you so its not possible for me to go full time at it as in have 2 kids and a 150k mortgage.

Id love to go full time farming but the job (I hate it but i shouldn't complain!) is bringing in 70k a year and herself and the kids have become accustomed to a certain standard if living...

The mortgage will be paid in 9 years time. I am counting the days. I am going to build things up slowly over the next few years and see how it goes!

jobseek

CluanBomb wrote: »

Curious to people's opinions on this.

I am 24 working in accounting, taking my final exams alongside work and also beginning the online green cert this Sep.

I hate the accounting but admit its a good paying career.

My father is near retirement and runs the family farm, it's approx 150 acres in 4 lots within 10 mile radius and I think it's down to about 30 sucklers now.

The infrastructure is good with sheds on the three bigger lots so everything can be in in the winter and they would under stocked if being honest! We have all own machinery which is quite new so nothing needed in that regard and could really contract if I wanted too.

I'm tempted to start putting wages into investing in stock for the farm to do it full time in future.

Love the lifestyle but would like to be comfortable for money in the also. I think the investments at the beginning would only be for stock and reseeding a few bits.

Would you think there will be a future for the smaller beef farms or would you say from experiences its now a job that barely pays in many cases? Is expansion very difficult with current margins?

I would be very business minded so I believe I would run it efficiently.

Opinions and advice welcomed!

Hello,
Just interested to know how the green cert can be done online, any info greatly appreciated.

Hasmunch

jobseek wrote: »

Hello,
Just interested to know how the green cert can be done online, any info greatly appreciated.

Some of it is done online but also neeed to take into account the following taken from: http://www.teagasc.ie/training/courses/dist_ed_green_cert.asp

• Requires in the region of 150 hours direct contact (including classroom sessions, practical skills instruction; farm planning sessions, tutorials; exam time; practical skills assessment time). Attendance will be on week days during normal business hours.
• Requires a 12 month practical learning period. This will be completed on the home farm/nominated farm in the Republic of Ireland.

Hasmunch

Interesting Thread, in a somewhat similar situation so it is very interesting to hear all opinions.

CluanBomb

Yes that's the green cert course, still difficult to do alongside full time work but its the only viable option!

I agree about trying to get into a smaller practice down home but I'm finding that difficult, and finding I can get offers in Dublin anytime I look, typical!

As stated below outgoings are low, rent and car loan, but rent would be gone or reduced if I took this on. I agree it's easier do this in the next few years than in 10 years.

Might do it in steps and try get work closer to home as the first one and buy bits of stock as I go.

freedominacup

CluanBomb wrote: »

Yes that's the green cert course, still difficult to do alongside full time work but its the only viable option!

I agree about trying to get into a smaller practice down home but I'm finding that difficult, and finding I can get offers in Dublin anytime I look, typical!

As stated below outgoings are low, rent and car loan, but rent would be gone or reduced if I took this on. I agree it's easier do this in the next few years than in 10 years.

Might do it in steps and try get work closer to home as the first one and buy bits of stock as I go.

As a qualified accountant are you sure you need the green cert?

CluanBomb

freedominacup wrote: »

As a qualified accountant are you sure you need the green cert?

Yes, being qualified accountant gives me no extra benefits for agriculture asset acquisitions,