There is no denying the vital role that farmers play in the sustenance of society as it currently is. This involves feeding billions of city populations not even counting the raw materials supplied to different industries. That having been said, the farming business is not for everyone. While farmers cite numerous perks to the venture, even the most successful ones admit that there are two sides to the coin.
Most farmers agree that if you are passionate about it and it works for you, farming is a dream work-from-home lifestyle that many people would kill to live.
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If you are considering spending your savings or bundle of cash on a farm, you should pay attention to this article where I will highlight the major benefits and drawbacks of owning a farm. Conducting research such as this is important in the planning stages before venturing into new ground – pun intended. Hopefully, this article will help you decide whether it is the right venture for you.
Advantages of Owning a Farm
Being Your Own Boss
Everyone values their free will and a lot of people working without another hovering over them will be more productive and satisfied with their job. Working from your own farm, you will be free to organize your program as you see fit; of course, with profits in mind. When doing it out of your choice, you will even look forward to waking up early to start out the day.
If you have ever worked in a stuffy office or even a shop where your movement is restricted, you will appreciate the change and freedom of working under nature. Getting away from the heavy city air to work in the fresh air all day seems like something many would look forward to doing.
No Fixed Schedule and Commute
This one is especially appealing for adventurous people who hate routine. In most industry jobs, the workers are caught up in the same routines which include commuting daily to and from work. Owning a farm, first of all, eliminates the need for commuting then offers you a wide range of activities you could get yourself involved in to avoid monotony.
Potential to Earn Big
If you have ever wondered why some farming families stay in the trade for generations, then this is your answer. When the harvest is good and most of your animals make it to adulthood, you could get hundreds of thousands of pounds each year. A combination of proper management and financing will greatly increase your chances of making a fortune out of farming.
Disadvantages of Owning a Farm
Feelings of Isolation
Especially if you are used to the busy life in the city, living on a farm could get lonely. For small families, the children could be isolated with no one of their ages to interact and play with. Having a big family or visiting friends could lessen isolation.
Putting in Long and Unusual Hours
Farming is a seasonal business where it could get very busy or idle depending on the time of year. One getting into the business should be ready to put in longer than usual hours during the peak seasons. Other farm activities such as animal husbandry could require you to wake up in the middle of the night, such as when your pig is giving birth.
During Bad Times, the Profit Margins Can Be Slim
A lot could go wrong when working on a farm. For instance, a cattle disease like the 1990’s mad cow disease could sweep through the country. This could result in the slaughtering of livestock and losses that could cause you to go broke overnight. However, there is no business without the risk of unforeseen circumstances. Insurance and savings could help you survive such occurrences.
Hard Work is Involved
Most people who dislike farm work cite the hard work involved as their main reason. There is no denying that farm business is demanding, and you could find yourself working for more than twelve hours a day. With the right investment, however, you could make it easier for yourself and hire labor to keep you from the hard work.
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Now you have both sides of the farming coin. If after careful consideration you have determined that farming is the business for you, the next step is easy. You could browse online for farms for sale or contact a local broker that specialises in selling farms and find the farm that matches your finances and vision. Once you have identified your ideal farm from the various choices you will be able to contact the seller and get your ownership process rolling.
Bruce Hakutizwi, Director of North America for BusinessesForSale.com, the world’s largest online marketplace for buying and selling small and medium size businesses.