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but they are pretty much the same. One of my uncles(by marriage) runs a multi-million dollar farm with his brother. They started it from nothing about twenty
by lacksconfidence 12y ago
but they are pretty much the same. One of my uncles(by marriage) runs a multi-million dollar farm with his brother. They started it from nothing about twenty years ago and now they grow millions a year in crops. This isn't some giant mega corp, this is two guys who have grown their business. Banks are thrilled to loan my uncle money to get more land, equipment, etc because he has a proven track record of turning loans into profits and returning their money.
Sure its just anecdote, but based purely on personal experience i feel like the family farms that go out of business are because they are not any good at business. The farms that are good at business just get bigger.
- AnthonyMouse 12y agoA "multi-million dollar farm" is also known as a farm. People who grow crops on 10 acres of land are basically doing it as a hobby. The dividing line isn't between farms that have $500,000 in revenue vs. $5,000,000 in revenue, it's between "family" farms that have ~$5,000,000 in revenue and farm companies that have $5,000,000,000+ in revenue.