Farming as a lucrative business

[Chris T]

Popular thinking has it that farming cannot be enormously profitable, which is a huge misconception. The profit made will depend on the location, skills, efficiency, soil, and markets, among several other factors. Do you always include your labor as an expense?

 

[leon]

Farming can be rewarding, but no single farmer will employ the same farming practices as the other. For instance, five different farms all growing the same mix of crops may not have similar profitability levels. I always include labor as an expense to know if the farm operations can survive without significant price increases.

 

[jack]

Labor is not an expense to overlook, as it can make or break your operation. The system that a farmer goes for should be flexible and efficient. Overall, this cost depends on the experience of the farmer and the sales method in use.