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Setting up Farm business

Discussion in 'General Business Forum' started by MTU74, May 15, 2020.

  1. MTU74

    MTU74 UKBF Newcomer Free Member

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    Dear friends!

    hope everyone is going through tough times without troubles. I have a question for you. I’ve been thinking about what business should work under this condition and probably farming is an option. If you have any previous experience would you be able advise what specific activity is most profitable and what margin/profitability I can expect. Tbh I never had experience but it sounds like good opportunity. I would be very glad if I can find one who owns farm here to advise me or guide me through process of setting up. Thanks in advance and have a good time!
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #1
  2. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

    5,541 1,293
    @The Byre is preparing a You Tube video (I believe) regarding 'How To Start A Business' (or a similar title).

    It may involve farming or things you may find useful.

    I wait with baited breath.

    My thoughts: Any business start up with zero experience will struggle. Agriculture, even more so.

    Why does it sound like a good opportunity?
     
    Posted: May 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
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  3. 2020Lawyer2020

    2020Lawyer2020 UKBF Contributor Free Member

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    It is one of the lowest paid sectors in the UK by the way. Doesn't the average full time UK farmer make £10,000 a year or something like that? Obviously some make a lot more where they have a lot of very good and profitable agricultural land.

    Perhaps start by reading Farmer's Weekly - https://www.fwi.co.uk/. I publish a legal publication in this field but that is more specialised so not so likely to be useful to you.
     
    Posted: May 15, 2020 By: 2020Lawyer2020 Member since: Apr 26, 2020
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  4. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

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    Dairy farmers make roughly £45 a year. I worked on two farms when I was a teenager to help out my friends from school who would work before and after school every day.

    Making a pittance, working 365 days a year, never taking a holiday, huge responsibility for meagre pay-off and No work life balance?

    No thanks.
     
    Posted: May 15, 2020 By: Gordon - Commercial Finance Member since: Jun 26, 2017
    #4
  5. Financial-Modeller

    Financial-Modeller UKBF Enthusiast Full Member

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    My limited observations are that ownership of farms is a part of a tax-avoidance technique, and large farms are often managed by contracted farm operators who enjoy sufficient scale and position within the supply chain that an individual farmer with a plot of land to farm traditionally would struggle to compete to run a viable business.

    The alternative is to have an edge, using tech / skill / resources to grow something that is in demand. Growing a couple of acres of potatoes will not make you a living though.
     
    Posted: May 15, 2020 By: Financial-Modeller Member since: Jul 3, 2012
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  6. billybob99

    billybob99 UKBF Regular Free Member

    1,556 466
    Ouch. Not even a years supply of milk.
     
    Posted: May 15, 2020 By: billybob99 Member since: Apr 23, 2013
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  7. LanceUk

    LanceUk UKBF Contributor Free Member

    60 21
    Now is probably precisely the time not to be looking at farming in the UK. Coming out of the EU and potentially losing a decent chunk of our biggest food export market while not knowing what the government are going to do to plug the (admittedly dwindling) EU subsidies - especially for new entrants - makes it a very uncertain period.
     
    Posted: May 15, 2020 By: LanceUk Member since: Jan 8, 2018
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  8. MTU74

    MTU74 UKBF Newcomer Free Member

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    Thank you for your reply ( sorry don’t know your name:))
    Farming at least provide family with livestock, meat, vegetables so it may take you through rough time. And with crisis situation food and related business will be in demand anyway especially when borders are closed.
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
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  9. Mr D

    Mr D UKBF Legend Free Member

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    It's not about supplying you with food - any decent large garden or small smallholding could do that.

    It's the rest of it - bills to pay. What you end up eating cannot be used to pay bills too.

    If food is in sufficient demand then like previous times it has been in demand it will be taken. You lose your entire flock of chickens one night how do you replace and how do you secure so as to not lose next lot?
     
    Posted: May 15, 2020 By: Mr D Member since: Feb 12, 2017
    #9
  10. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

    5,541 1,293
    They call me Mr China amongst other names.

    I'm actually a Brit working in China.

    My name is Ron.

    Agriculture - unless you have experience, I would advise against it as a business venture. You can probably buy your meat and vegetables direct from a farm, if you live near to one.

    Borders won't be closed forever. (I think and hope).
     
    Posted: May 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #10
  11. MTU74

    MTU74 UKBF Newcomer Free Member

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    Excellent!
    I will check that video. As for the income I believe you may be right. Farming is lowest paid and labour consuming industry. My hopes that UK will need to rely on homegrown produce and taht may increase sales of local farms. Demand is always there. But I also ralize that due to less tourusts and students there is less demand.
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #11
  12. MTU74

    MTU74 UKBF Newcomer Free Member

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    Thank you for your opinion. I will consider this as well.
    Definitely will need to look at the farming business economy first.
     
    Last edited: May 15, 2020
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #12
  13. MTU74

    MTU74 UKBF Newcomer Free Member

    28 0
    Yeah,

    Not easy questions. I am currenlty living in Kuwait and you can find meat from all over the workd here except UK. Same goes to vegetables and fruits. My goal is to export more outside rathter than rely only of local sales. I do know there is seroius comptetion will be.
    Then I will be developing kind of direct supply to restautants or customers fresh or frozen meat, eggs etc. I agree that if i will go to sell in local market only i won't be able to pay my bills.
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #13
  14. MTU74

    MTU74 UKBF Newcomer Free Member

    28 0
    ex
    Exactly same thoughts. Applying new techniques, investinfg in macinery and trying new technologies may increase productivity.
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #14
  15. MTU74

    MTU74 UKBF Newcomer Free Member

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    No money but great memories left at least :)) I have been working most of my life in oil and gas and believe me we have no family life in that equation. Only work. So farming could be lifestyle to be closer to my kids ))
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #15
  16. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

    2,385 792
    And burden your children with that awful responsibility when they inherit it. You will see your kids when they’re old enough to work, and then they’ll probably be in a different part of the farm because you can’t be two places at once.

    You are out of your mind I’m afraid.
     
    Posted: May 15, 2020 By: Gordon - Commercial Finance Member since: Jun 26, 2017
    #16
  17. MTU74

    MTU74 UKBF Newcomer Free Member

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    I‘m sorry but I didn’t say I am going to put children in this business. There are people who will love to work on the ground.
    Then I can always sell land if I am tired of farming, right.
    I am afraid it is you who did quick assumptions.
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #17
  18. Opinion87

    Opinion87 UKBF Regular Free Member

    529 154
    Apparently putting three laughing faces as a reply isn't valid.
     
    Posted: May 15, 2020 By: Opinion87 Member since: Jul 1, 2015
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  19. MTU74

    MTU74 UKBF Newcomer Free Member

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    :););)
     
    Posted: May 15, 2020 By: MTU74 Member since: Oct 2, 2018
    #19
  20. Mr D

    Mr D UKBF Legend Free Member

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    True.
    Been working on a farm project for a couple of years now, quite labour intensive though also very productive in cubic production depending on product.
    But mine is 15 stories high and uses a lot of energy. :)

    Very much oriented to local production.
     
    Posted: May 16, 2020 By: Mr D Member since: Feb 12, 2017
    #20