Looking at moving into farming...

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Fromwalesboyo

New Member

• Dec 25, 2014

• #1

I've owned and lived on farms previously, only really with horses and had a few pet pigs, sheep and chickens.

Well i moved away from horses and took a 2 year break to do something else, well I've landed a sum of money through working hard at a few projects but wondered if realistically farming would be something I could go into, I'm obviously not looking at make big bucks - I just love farm and country life, would farming be a liable business?
Also, as I'm not looking to buy a farm just yet and would rather rent a farm what would the possibilities of me being able to rent a farm? Are they very few and far between?

So many questions but if somebody could shed some light on the above that would be great!!

 

ernie

Member

Location

dorset

• Dec 26, 2014

• #2

Some very hard questions to try and answer but you need to narrow it down a bit first! Like how bigger place could you afford to rent and what would you like to do with it! Because if you can only afford to rent 50 acres but have your heart set on growing corn you won't make a living but if you wanted to grow strawberries you might!

 

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glasshouse

Member

Location

lothians

• Dec 26, 2014

• #3

No one will rent a farm to an inexperienced person, better to buy anyway

 

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Fromwalesboyo

New Member

• Dec 26, 2014

• #4

glasshouse said:

No one will rent a farm to an inexperienced person, better to buy anyway

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I do have farming experience with animals, just not raised them for meat as a business or such, also cut hay and most other related things.

Like I said I'm trying to work out if farming is a viable business, as for purchasing or renting that's something I'll come to, if it's worth it I'd buy but ideally might be best to rent and try for a while first...

 

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Fromwalesboyo

New Member

• Dec 26, 2014

• #5

ernie said:

Some very hard questions to try and answer but you need to narrow it down a bit first! Like how bigger place could you afford to rent and what would you like to do with it! Because if you can only afford to rent 50 acres but have your heart set on growing corn you won't make a living but if you wanted to grow strawberries you might!

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Good point there - like any start up from a business point of view you wouldn't over stretch yourself, so I'd look at something 50 acres or below and find a way to make it commercially viable.

I'd like to know I guess how id make most profit per acre, as somebody who would enjoy any aspect of farming I would be open to whatever type really.

 

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DrWazzock

Member

Arable Farmer

Location

Lincolnshire

• Dec 27, 2014

• #6

How much have you got to spend?
What are your agricultural qualifications and area of expertise/experience?
What product do you envisage supplying and to which market? (This depends on which part of the world you live in).
Have you prepared a projected cash flow?

It's like any business. It's needs hard headed and realistic research. Only you know what you are capable of and how much cash you have to set it up. How many hours you are willing to put in and how much social life and leisure time you are willing to sacrifice.

I would say the options for a commercially viable agricultural enterprise on less than 50 acres are fairly limited, probably to intensive livestock or specialty horticulture, and for both of those you need to be at the top of your game.

 

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glasshouse

Member

Location

lothians

• Dec 28, 2014

• #7

Fromwalesboyo said:

I do have farming experience with animals, just not raised them for meat as a business or such, also cut hay and most other related things.

Like I said I'm trying to work out if farming is a viable business, as for purchasing or renting that's something I'll come to, if it's worth it I'd buy but ideally might be best to rent and try for a while first...

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You have no experience in a land agents eyes.

 

IH 684

Member

Location

durham dales/cumbria border

• Dec 28, 2014

• #8

Buy a place, you can always sell it again, you are throwing money away by renting

 

S

Sandpit Farm

Member

Livestock Farmer

Location

Derbyshire

• Dec 29, 2014

• #9

IH 684 said:

Buy a place, you can always sell it again, you are throwing money away by renting

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But £500k spent on 50 acres would grow quicker with less work if it were used to buy 5 x £200k houses with £100k mortgage on each. Payments would be about £750/mth and rent should cover that along with insurances etc. (I know there is CG tax).

Renting 50 acres @ £70-£80/acre/yr would give you a lifestyle and wouldn't break the bank.

 

Pasty

Member

Location

Devon

• Jan 5, 2015

• #10

As mentioned, you are going to need something fairly specific to make a living from a small acreage. Doesn't mean it can't be done. But you are probably not going to make much on 50 acres running a few standard ewes and putting fat lambs through the market. Perhaps if ran some rare breeds, sold the meat direct at a premium and charged schools to come and see the cute lambs etc. etc......

Personally I've just become the owner of just under 50 acres, mostly grass but I still initially see the bulk of my income coming from the 2 acres I had originally. Really, the options for income generation are endless, it just depends if you can find a niche and cash in on it properly.

 

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Fromwalesboyo

New Member

• Jan 25, 2015

• #11

Thanks guys.
I've actually decided to free up some time in my current business to go and gain experience in a few areas of farming and decide on which way i'd want to diversify whatever amount of land i can make available to myself.
I'm very business minded and not afraid to try new things and enterprise on something i feel would be right to myself.

I've also decided i want at least double my original 50 acres to assure i've room to grow/diversify to suit.