New entrant generating capital through crowd funding

[Getjackfarming]

So as my profile briefly explains, I am getting close to graduating from Harper Adams and I love my farming! All my spare money I have put into kicking off my beef herd but I am running out of capital! So I am attempting to raise money through crowd funding at https://hubbub.net/p/FarmerJack/. I have a twitter page @Getjackfarming wherein have been getting lots of interest and support, but not many donations! I would love to know other peoples views/thoughts on what I am trying to do and this method of raising funds. Jack

 

[ridger]

I had to build up my own business by buying selling cattle, working to other farmers, no one ever handed me money and I appreciate what I have got it doesn't happen overnight

 

[Getjackfarming]

I completely agree, I have been working for other farmers for 6 years, rearing and trading my own animals for 5, it sounds like you have been a new entrant at one point also, and I'm just trying to explore every avenue possible to take my business on, as I desperately want it to be a full time occupation once I graduate

 

[dolf_lundgren]

Jack, I have had a look and it is interesting. However I think you are really appealing to good lifers with your offer. I cant see anyone on here paying money for the chance to visit a farm and see your livestock!

Would it not be better going on something like Zopa and raising the cash with a set rate of interest. I would imagine quite a few of the guys on here would be willing to lend you money at a sensible rate as long as there was a mechanism for getting it back. There is a lot of goodwill for new entrants but it is not in the form of donations.

I think your best bet is a "soft" loan. Put together a short business plan and really sell your ideas.

Best of luck anyway.

 

[Getjackfarming]

Thanks very much for your point of view and advice, all valid! I am always looking to listen to the advice of others, as collective thought is invaluable!
I knew that this was a controversial approach, as I am aware that it looks like on after 'something for nothing', but my mindset is that I am in an advantageous position, depending on how you view it, where I am not afraid to try anything to get myself off of the ground. Some people have had great success with this approach on other areas and thought I would give it a crack!

 

[Getjackfarming]

All it takes is 400 people, which on the online community isn't a huge amount, to like my idea enough to spare a tenner and I have met my target and am well on the way!

 

[H.M.]

Couldn't you rent a smaller acreage then it would be more affordable? Then build up slowly, might take a long time but at least you'll have done it yourself instead of using other people's money

 

[lim x]

All it takes is 400 people, which on the online community isn't a huge amount, to like my idea enough to spare a tenner and I have met my target and am well on the way!

How would anyone know you are not just going to collect the money and do a runner?

What have you been doing during the holidays that you could not have earned the money yourself??

Will your job as trainee land agent not fund your aim?? Or wait a few years until you are fully qualified and taking the money from us anyway.

Don't mean to be hard on you, but i had viewed your facebook page and there are people much more deserving and i think your idea to sponge money from others is a bit cheeky, (to put it politely).

Nice try though

 

[Kiss]

Maybe I should start one!

Put a set amount of your wages away each month, mine is just under 1/4 on heifer rearing

What else do you plan to
Do with the land 10 calves eat next to nothing

 

[Getjackfarming]

I think it would be very foolish to tarnish my name by taking the money and 'running' given how public and transparent I have tried to make this? Without being rude, you have no idea about my background or how 'deserving' I am by viewing a profile picture? My profile on FB is private to prevent judgemental people viewing me and casting their aspersions.

I am not looking to sponge, I am trying to build something for myself and my future. I have been working all summer on the farm I always work on, and, whilst saving for my last year of study, have put every other penny into growing my business. I want to make this a full time occupation ASAP and for that I need more hooves on the ground! I am not forcing any one to help, if people want to help then that's great, and if not, of course that's ok also, but everyone is different and entitled to their own opinion.

 

[Getjackfarming]

In response to Kiss, i have few animals already and am going to use the land for forage production for winter keep, as well as a rotational paddock grazing system to maximise the use of grass to keep it grazed down tighter. This will become better utilised once I have more animals

 

[Kiss]

I have animals of my own aswell but the idea of making it full time is a non starter, my idea is to try and get it to provide half my income first it'd take a lot of investment from myself for it to provide me with a 30k salary I get from a full time herdsman job

All money into the stock is justified no free money, won't family lend you it? In 18 months I have an asset (cattle) worth half my salary from a £2k loan I don't even rent a postage stamp of land

 

[llamedos]

Do you have any examples of other crowdfunded farms here in the UK and how they were started and how they now perform

 

[Getjackfarming]

I am realistic and understand that I cannot live off of ten cows. The idea going forward is to have an intake of 20 every six months, I have already purchased 10 this summer which will complete my batch this intake if I can raise the money. My existing animals are close to sale and can then finance the purchase of the next intake and the whole thing rolls on from there. The key to any startup business is cash flow, and this way I will have a cash objection every 6 months. If I grow by 10 animals a year, in three years time I can go full time. The additional 50 acres rented with what I already have will make a good platform to continue to grow from.

Respectfully, I simply can't accept your point about being unable to go full time, of everyone had that attitude no one would break into the industry. In order to be truly successful I believe you have to be prepared to fail, but I am not planning on failing. Crowd funding is an avenue that I am exploring, as we all know orbits hard for new entrants to kick off.

 

[Getjackfarming]

To Llamedos, the short answer is no, as far as I could find there is no precedent or basis for comparison similar to what I am trying to do. Because of this, the Farmers Weekly and Farmers Guardian are behind me and will be publishing articles online and in print this week, as it is a new concept to agriculture, which i think is quite exciting! But of course a diversity of reactions is only to be expected with something new

 

[Strawberry roan]

So as my profile briefly explains, I am getting close to graduating from Harper Adams and I love my farming! All my spare money I have put into kicking off my beef herd but I am running out of capital! So I am attempting to raise money through crowd funding at https://hubbub.net/p/FarmerJack/. I have a twitter page @Getjackfarming wherein have been getting lots of interest and support, but not many donations! I would love to know other peoples views/thoughts on what I am trying to do and this method of raising funds. Jack

Hi jack, have you tried the princess trust for a loan at all ? I wish I'd known about it before I was too old. How about stocking it to the balls with ewe lambs bought from the store ring to lamb outside in April , tupped to a chamoise , anything that dosnt hold can be sold fat boxed up , take on some winter keep and after a year you should have some good lambs to sell to pay off some of your borrowings and a young but random flock.can you claim the new payment on this ground? If so could you apply to the national reserve for entitlements? As you say aswell, you can get ten friesian bull calves for the price of one beef x . If your just looking to turn cheap grass into beef surley ten moths are better than one? Ten animals putting on weight while your at work. I think starting out from scratch has to be about making something out of nothing and learning on cheaper stock . And not being proud! People call me a tit for rearing b and w calves but go showing horned sheep at weekends who's wether lambs make £30. How queer!

 

[Baling Hay]

Well, I have had a look at your pages and I have to say I would not give you the money. As others have said there is probably others more deserving. I too went to Harper and was completely self funded, I worked my ass off on holidays etc. so if you can't work hard enough to save £4000 I wonder whether you really have the "get up and go" to actually make a success of things yourself? Sorry to be harsh, just saying how I see the whole thing. To me you are just acting like a charity and I would rather give money to a real charity to hopefully benefit people who really need help or to fund medical research.

 

[ridger]

Well, I have had a look at your pages and I have to say I would not give you the money. As others have said there is probably others more deserving. I too went to Harper and was completely self funded, I worked my ass off on holidays etc. so if you can't work hard enough to save £4000 I wonder whether you really have the "get up and go" to actually make a success of things yourself? Sorry to be harsh, just saying how I see the whole thing. To me you are just acting like a charity and I would rather give money to a real charity to hopefully benefit people who really need help or to fund medical research.

I agree with you! I started with less than nothing and have fought my way up a bit anyway! Built sheds as I got money

 

[Getjackfarming]

As I have explained previously, it's not that I have been working hard, and I have put every spare penny I have into trying to get up and running, but this opportunity has arisen and I have simply run out of funds to capitalise on it and I refuse to let it pass me by, hence why I am trying all ways possible including this to make sure I don't lose it. Surely as you both say you started with nothing you can sympathise more than most with why I am trying to raise the money by any means possible?

As to your comment regarding my deserved ness, in a previous reply I have stated that you have no idea about me personally or my situation, and anyone who feels they can cast this judgement is in some mighty position!

But everyone is entitled to their views and that's ok, I am not begging or making anyone help, and I wouldn't want help from anyone who wouldn't offer it of their own free will

 

[Baling Hay]

As I have explained previously, it's not that I have been working hard, and I have put every spare penny I have into trying to get up and running, but this opportunity has arisen and I have simply run out of funds to capitalise on it and I refuse to let it pass me by, hence why I am trying all ways possible including this to make sure I don't lose it. Surely as you both say you started with nothing you can sympathise more than most with why I am trying to raise the money by any means possible?

As to your comment regarding my deserved ness, in a previous reply I have stated that you have no idea about me personally or my situation, and anyone who feels they can cast this judgement is in some mighty position!

But everyone is entitled to their views and that's ok, I am not begging or making anyone help, and I wouldn't want help from anyone who wouldn't offer it of their own free will

When I was 18 I had 10k saved up from working for 2 years, I then used that as a deposit to borrow another 20k so I had 30k in total. I bought 45 yearling heifers and then turned them into a suckler herd. They were all lost with brucellosis then and I got zero SFP, I used that money to put myself through Harper and worked my arse off every xmas, easter and summer holiday as well. I was able to earn 6k some summers alone so again I question whether you have the drive?

I am not saying I done everything the right way but at least I done it my way rather than begging.