Would you say no to $50,000 from Kickstarter to start your farm or food hub?
It’s free money, right?
If you’re thinking about crowdfunding the startup of your new farm, it may surprise you to learn that it’s not as easy (or cheap) as you might think.
Let’s find out what you absolutely must know before crowdfunding and why it’s probably a mistake to do it for the money.
Continue reading What You Should Know Before Crowdfunding Your Farm Startup
Accountants and lawyers are probably screaming “don’t listen to this lunatic.”
There are plenty of good reasons to incorporate your farm business. One damn good one would be because you don’t want to buy land in your own name. We’ll talk about that another time.
If you want to start a food hub, an urban farm or you don’t have money to buy a land, do yourself a favour, don’t make the same mistake I did.
Here’s why you probably shouldn’t incorporate your farm business too soon.
Continue reading Don’t Kill Your Farm Business By Incorporating Too Early
Let’s say you have a bit of savings and you’re keen to buy land to farm. Even if you can see hidden value, land is by no means cheap.
The problem is not that you can’t borrow money to purchase that hidden gem you’ve found. The problem is that the real costs only begin once you start; equipment, materials, transportation, energy, development, effort to build up a customer base.You’d have the burden of repaying the loan while you’re still at your most vulnerable — the startup phase.
That means never giving the farm a fair chance to get up and running, a chance to be financially sustainable.
Is there another way? You bet.