Farmers || Future

Hey I am wanting to start my own business in production agriculture, but I have no assets or anything, and I dont have anything to get handed down to me. If anyone has any tips or anything let me know!

Thanks.

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Getting a loan is part of the process, but if you plan on growing potatoes you need to have a good marketing plan, and contracts. One thing that has helped me is working with people ex joint ventures, parternships ect. it spread out the risk, and in potatoes there is a very high risk level.
Hey Matt, I don't have any magic advise on getting started, but as far as loans, check with your local FSA office for their beginning farmer loans.
Check out the FSA website and their beginning Farmers Program. They have Grants and Loans to help out Beginning Farmers get on their feet and stay there. You also want to talk to yut local SBA (small business association) for help writing your business plan and getting funding. LOcal Chamber of commerce can help you get established and find partners in the area as well as getting community support. In the long run, there is no substitute for research. This is what I'm going through now as I get ready to launch my own farming operation. The best source so far... mentors. Farmers for the Future is a great site. Older farmers who have no one to pass their farms and knowledge to are looking for people just like us to help get started. And whatever you do don't forget about grants.gov.
Hello Matt,

i admire your admiration for being in the world of production agriculture. Before i go any farther. do you even have a land base? you know ? a farm that is ready for you to take over/rent. If not , your only strategy is to go work for a farmer for several years to learn the ropes, network, and build a plan and espc. save up some money. If you have nearly no experiance and no money and no networking you will get "no loan"

reality sucks sometimes

Dale
hey thanks guys for all of your advice. I do have quite a bit of experience and I have been working for a farmer all my life, but I want to start my own business.
dale a. Brandt said:
Hello Matt,

i admire your admiration for being in the world of production agriculture. Before i go any farther. do you even have a land base? you know ? a farm that is ready for you to take over/rent. If not , your only strategy is to go work for a farmer for several years to learn the ropes, network, and build a plan and espc. save up some money. If you have nearly no experiance and no money and no networking you will get "no loan"

reality sucks sometimes

Dale
I do not want to repeat what Dale just said, but you need more of a plan than I want to start my own business. You also need to show the bank or FSA how you are going to payback the loan. I would sit down and draw up a business plan and take it to your bank or FSA and just see what they think. You can always change it. We used to farrow to finish alot of hogs every year now we do not have a hog on the farm at this time. So things change and adapting to the changes is part of being in business. Good Luck.
Before you think about a loan, think about a business plan. It sounds intimidating, but a business plan is just an organized way to write down what you expect to happen in the future. Key elements for success, such as break even sales, expected gross sales, and expected profit should be included. I’d suggest putting in the kind of summary information that you would tell someone in conversation: explain what your farm business intends to do, how it will do it, and what you will call success. If you don’t define economic success, then a reader of your plan will have to assume that it doesn’t matter to you.
Here are a couple of links to free business planning tools. The "Virginia FAIRS" site has a good sample business plan to give you an idea of what one looks like.
The second best use of a business plan is to impress the heck out of a loan officer. Loan officers don't "give" loans to farmers, they rent money to farmers. Farmers have to convince lenders that they will be able to pay the loan back from farm business earnings.

http://www.agplan.umn.edu/
http://www.vafairs.com/
Matt,
If you are looking for a market, Besides going to the FSA. Why dont you try organic farming. From what I hear Organic farming is looking pretty promising for the future of agriculture. Thats what I am doing currently. And I also run cattle as well and sale hay, corn, and milo.
the fsa beginning farmer loan also requires that you have a minimum of one year operating experience on your own in some way. they wont give you money just because you think you want to be a farmer. they want proof that its in you. the more experience you have and etc, the better chance you have. if you worry bout getting the one year minimum experience, try starting with 50-100 acres of a crop and talk to your local chemical dealer and explain to them what it is you want to do. chances are if they are any good and care about the young guy they will try to help you with financing and managing of your crop. beleive you me, this had better be in your blood because farming is not always as gravy as it may seem. we need more and more young farmers so i wish you the very best.
thanks for all the advice, it is in my blood and i have many years expierence. my grandfather farmed with my uncle and they both retired from it, and my father didnt want to pursue a career in ag so i do have it in my roots. the financial advice is awsome guy's thanks.
Matt Blodget said:
thanks for all the advice, it is in my blood and i have many years expierence. my grandfather farmed with my uncle and they both retired from it, and my father didnt want to pursue a career in ag so i do have it in my roots. the financial advice is awsome guy's thanks.
A Brodie said:
Matt Blodget said:
thanks for all the advice, it is in my blood and i have many years expierence. my grandfather farmed with my uncle and they both retired from it, and my father didnt want to pursue a career in ag so i do have it in my roots. the financial advice is awsome guy's thanks.
Hey Matt I think you should maybe search around for other folk who want to do the same thing, or similar. I for one am thinking about getting out of working on other farms and starting my own gig... But i have a lot to learn yet. What do you intend to "farm" and where are you thinking about doing it? I have some crazy good land and water at my disposal in Colorado..

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