Can ranching and farming really be profitable?
Ranching and Farming can be profitable. As a full-time farmer, I can speak with authority. But I must tell you several things:
- Farming must be what you love to do for it to work. When it is 0degrees outside and you have to go out for hours to feed animals, thaw out or break open water sources, dive in creeks to pull out baby calves who have fallen in, pull calves out of mothers struggling to give birth, (the list could go on forever) even when your hands and face are all but frozen, you have to love it. Equally true in summer when it is too hot but hay needs made.
- Pay comes and then it doesn’t. Money is a cyclical thing in this business. You have to be able to bank money when it is coming in and budget for when it isn’t. You also have to work every day even when it is a non-money time, so that you aren’t too far behind when it is time to make money–for example, when hay season is over, you must put time into maintenance and repair of equipment so that it is ready to roll the next time you need it.
- There are fewer farmers every year. That makes it easier for farmers to sell their products. But you still have to offer a quality product or people will buy elsewhere.
It all comes down to your idea of profitability. Do you want to live in a multi-million dollar home? Farming probably is not the way to go. Do you want to live comfortably and are willing to work 12 hour days 6-7 days a week regardless of weather, holiday, or illness? You may have a chance to farm. But do one or two things superbly, don’t try to do 10things halfway. You will build a customer base over time if they know you’re the best. Good luck
It has to be. The future of rural communities depends on it. Our alumni are the ultimate test of the validity of the principles and processes we teach. The average Return on Assets in ranching in the US is –1.5%*. The average of Ranching for Profit School alumni participating in the Executive Link program over 4%*. Our business is helping you structure profit into yours. You’ll find that structuring your farm or ranch to make a profit will reduce your stress and increase your enjoyment of the great lifestyle this business can offer.
