Tenant farming

[bradaz89]

Hello, I've been thinking for a while about becoming a tenant farmer, at the moment I'm a herdsman and can get the capital for around 60-70 cows, I've found somewhere where it might become available, basically I'm wondering is it worth it, will I be able to make a living out of it,

 

[borderterribles]

Only you can say whether or not it's worth it. If you do your current job primarily for the money, then I'd say that being a tenant probably wouldn't be worth it, but if you do it to eventually be your own boss, then it's the next step on the farming ladder.

 

[bradaz89]

No I don't do my job for the money, more what I meant was all i hear about is smaller dairy farms going out of business, I know cows but not I'm no businessman, obviously running my own dairy farm is my dream, all i was meant was is can i afford to pay the bill's

 

[borderterribles]

Sounds to me like you may be better off looking at a share milking type sitch , rather than going it alone as a tenant.

 

[Cowwilf]

No I don't do my job for the money, more what I meant was all i hear about is smaller dairy farms going out of business, I know cows but not I'm no businessman, obviously running my own dairy farm is my dream, all i was meant was is can i afford to pay the bill's

I think a modern day dairy farmer (or any other type of farmer)needs to have a business man side to them because a business is exactly what it is.

 

[wasted years]

No I don't do my job for the money, more what I meant was all i hear about is smaller dairy farms going out of business, I know cows but not I'm no businessman, obviously running my own dairy farm is my dream, all i was meant was is can i afford to pay the bill's

You are in a weak position as I self confessed non business man.
The days of getting going small and it working out as a matter of course have gone, but here is what I would look at in your position.
Can you run the new unit as well as work off farm to keep drawings from new unit to a minimum til it gets going? Have you considered a 2nd hand robot?
Milk contract is king, can you get one, will it suit your size and the type of cows you want to keep?
Do you need to spend alot of cash on the unit or will it go as is?
Don't be too keen to sink cash into someone else's unit even if it is a bit rough and ready.

 

[multi power]

Go to new Zealand

 

[rosbif]

Do you have a wife? Could she run the business whilst you do the cows?
I doubt you will do it on your own.

 

[franklin]

Ask whoever you are herdsman for if they can show you how the money works. They may be all "well, you take your money and find the nearest drain to pour it down" but once they know their other option is you getting up and leaving then they will be helpful.

 

[Hilly]

Its running a business, if you not a business man give it up now, good cows wont make anything without correct business mind behind them.

 

[multi power]

Its running a business, if you not a business man give it up now, good cows wont make anything without correct business mind behind them.

A good business man with only average stock skills will stand a far far far better chance than an outstanding stockman with no business skills

 

[ThatsSomeSheep]

A good business man with only average stock skills will stand a far far far better chance than an outstanding stockman with no business skills

Very, very true.

TSS

 

[Hilly]

A good business man with only average stock skills will stand a far far far better chance than an outstanding stockman with no business skills

Could not agree more, so true.

 

[Pluto Matt]

You're not a businessman YET! I agree with the guys above who say don't jump in yet. Take a bit of time and do your homework so that you become a businessman. Once you are in the business, you won't get time to do your homework then....

 

[Frodo2]

What are these business skills you speak off? Its just a case of making sure that income is more than all expenditure. If you are organised its simple. Just be sensible and use professional advice (accountant and lawyer) as appropriate.

I doubt if you will make a fortune, but nor will 90% of the population. Just make sure it really is what you want to do, because once you make a financial commitment its hard to change.