DC swIL - 7/20/2016 06:32

How are your business skills? Do you have the ability to manage a business that will take in and spend over a half a million dollars a year? Time spent in the office can be the most profitable work you will do.

How is your agronomy knowledge? Will you be able to identify weed species and crop diseases your self? Will you be able to choose the right seed varieties for your area. The low dollar chemical and seed prices that many tout on here are strictly cash and carry. If you need a consultant you will pay more.

How is your mechanical ability? Will you be able to do most of your own repairs? Do you have the tools and facilities to make these repairs? If you are starting from scratch it will be with older equipment. Older equipment, especially larger older equipment, is selling fairly cheaply now. But, older equipment will need repairs. Doing most of those repairs yourself is pretty much mandatory. Shop labor rates are high.

Do you have a mentor? Someone to answer your questions and also offer some occasional unsolicited advice. Someone to guide you and teach you? It is unlikely that you have answered a resounding "Great!" to all 3 of the above questions. Are you willing and able to learn? Lots can be learned here, but having someone in your corner nearby is invaluable. What works "here" doesn't always work "there".

Do multiple cash flow scenarios with various yields, prices and rental rates. Look at these cold and hard, taking the emotion out of it. How many are profitable, how many will keep you afloat for a 2nd year and how many are financially devastating?

If you were to try this I would take on the whole thing. If it works on half it will work on all of it and as I said above bigger used equipment is selling cheaper than small/midsized used equipment. Good luck in whatever you decide!