by Brian McKay
For many people, the idea of running a farming business is inherently attractive. Compared to modern businesses - life behind a desk, tapping at a keyboard, and separated from the elements by windows and air conditioning - there is something magical about the idea of earning a living from the land.
If you have always thought the same, and are wondering if a farming business might be the right choice for you, then there’s every chance that your inkling is entirely correct, and you would flourish at the helm of such a business. However, before you begin to make plans, there are two particular issues you need to be aware of…
1) The farming business is hugely variable
More than in any other industries, farming is variable. You are subject to fluctuating prices, consumer demand, politics, and - of course - the whims of the weather. As a result, farming is not a static industry; it is dynamic, changing from year to year. Some years your crop yield will be good, and your overheads will be low, so you’ll turn a good profit. Other years may be more challenging. This kind of variability is something that many people find difficult.
2) A farm alone may not be a viable source of income
Agriculture as a whole has gone through a tough time of late, with a variety of different factors influencing overall profitability. Due to this, many farming businesses are finding that the farm alone is not enough to sustain their income, and many have to opt for supplementary measures or even second jobs in order to ensure their household income is sufficient.
So does this mean farming businesses are a bad idea?
Not at all!
It’s important to note that every type of business has its difficulties; there’s no such thing as an ‘easy’ business where you’re guaranteed to make money.
Yes, agriculture can be tough - but, having read through the above, you’re at least aware of the potential problems you may encounter. This means you can be proactive, understanding the need for careful consideration of your options rather than approaching a farming endeavor with a rose-tinted view. There are many proactive, beneficial solutions to the issues mentioned above; precision AG systems from the likes of MKC Coop can make all the difference in improving crop yield, while farm shops and farmers’ markets are a great choice as a form of supplemental income - and these options are very much just the first in a long line.
So, no, farming businesses are not a bad idea; it’s just important to be willing to research, learn, and explore solutions for the problems they may experience.
In conclusion
Prospective farmers have a tendency to be a touch idealistic, imagining a lifestyle that is far removed from the issues experienced in more standard, hyper-modern companies. While many of these positive perceptions are entirely correct, it’s also helpful to balance out these thoughts with a practical, working knowledge of the challenges you may experience along the way. If you can achieve this balance, then you can look forward to a wonderful, profitable future on the farm.
