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> I don't even know how you'd approach starting from scratch unless you were already rich. Well, you are not going to start any kind of business without some k
by randomdata 3y ago
> I don't even know how you'd approach starting from scratch unless you were already rich.
Well, you are not going to start any kind of business without some kind of working capital. To be rich, for some definition of rich, is always a necessity when starting a business. That is not exclusive to farming.
I'm not sure farming is any worse than any other business[1], though. I have started a number of businesses in my day and the farm was probably the easiest of them to get into. Like any startup without venture capital – you start as small as possible, prove the business model, and then slowly work towards growth.
> A tiny 100 acre farm's land is worth north of 1 million dollars
Ah, if only. Imagine how easy farming would be if 100 acres was only $1MM! We haven't seen farmland that cheap around here in 20 years.
[1] Maybe software has an edge if you can find success with nothing but a budget computer, but your time commitment is going to be many orders of magnitude larger, so I expect it still requires more working capital in the end.
- Auracle 3y agoI wasn't sure what current prices were, which is why I said north of. I know back 10 years ago I saw some for about $10,000 an acre, but for all I know it wasn't great land for one reason or another. I've also heard my region has some of the best soil in the world so I wasn't sure if my prices were generalized enough.