|
| I've got a deal going on this year. I work for a salary and at the end of the year I will get 10% of profits. Profits being defined as change in balance sheet minus X dollars for owners management over the year. The amount for management was agreed upon in advance. My salary is basically the amount which I would make doing the labor, and the 10% is like a management bonus for taking on those roles.
It is a slightly different arrangement as it is a vegetable farm and he will handle marketing, overseeing harvest and crop planning. I will be executing the crop plan and keeping everything moving when he isn't here. He has found that when he is doing a good job of marketing he needs someone around he can trust to get other stuff done and his other long term help has no interest in learning how to run a tractor(making sure seeding gets done in a timely fashion is a big reason he hired me). Him and his wife are also hopefully going to have a baby this fall so he may be a little distracted.
I am sure some will flame me but this is the deal we worked out and we are both happy with it. I like it because my schedule is very flexible, he is a very good farmer and I think I will learn a lot from him, and my input is appreciated. The better job I do at helping him keep things going, the more profitable we should be and the more money I make. He has someone he can trust to help keep the balls in the air. This will probably only be a one year deal as I am working on renting a farm for 2018.
Mike | |
|
Hired help
