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Rivers, MB | I'd agree with minn gopher. Partnerships can work. I've been in a partnership for 16 years with my brother and dad. Is working well. Perfect. No. But farming by yourself isn't either. Everyone has said all the bad things about partnerships so I'll leave those alone. Here's a few positives.
1. You're not working by yourself now. Some jobs that take 2 hrs by yourself get done in 1/2 hr because you had another few arms to hold or lift stuff.
2. You're not working by yourself now. Ideas and decisions are often more thought out and have been tested by someone else's common sense as well.
3. Economy of scale. Some equipment purchases start to make sense with enough acres. For our farm, that means a high clearance sprayer, grain cart and super B grain trailers. If each of us farmed on our own, none of us would have any one of those pieces of equipment. That makes our farm more efficient and more profitable.
4. Time off. You can rotate time off in the summer so everyone gets holiday time and you still have someone around to check fields, haul grain, make arrangements, supervise employees etc.
5. Skills and abilities. Not all farmers are good at everything. With partners, you have a more well rounded skill set. Focus on what you are good at and enjoy doing.
A few cautions.
1. Keep land ownership separate. That way, as some others have mentioned, you are not tied at the hip forever. You can buy or sell a combine or tractor any day of the week. But land deals are not quick and easy.
2. Keep time off the same. For example. Everyone gets x days/weeks of time off from the farm. Doesn't mean you have to be away, just you don't have to be at the farm.
3. Communicate, communicate. Have regular farm business meetings. Include wives/partners in some decisions but not all of them. Unless they are working on the farm and really a contributing part of the farm, they don't need to have input on what type of auger to buy next. Or when to replace some planter parts. But they sure better be involved in deciding which week you get off in July.
I know of several farm partnerships that have not worked out. But I know a lot more that do work and have continued to work for many years. | |
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Forming a Partnership
