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Starting a custom business
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scott312
Posted 5/23/2020 10:16 (#8275070 - in reply to #8274866)
Subject: RE: Starting a custom business


Iowa
I tried custom baling for a few years. Most the demand is for corn stalks here but I did some hay too. It was year 4 when I finally admitted to myself that I was working for free. The busier I got, the more money I put into the equipment.
By the time I figured in equipment depreciation, insurance, repairs, fuel, and net wrap, I wasn't making anything. If you have to borrow, you can add interest to the list which would have made things even worse.
There are probably areas where it would work and maybe your in one. Here, almost everyone has there own equipment and there is plenty of competition for the ones who don't. I would need to see at least a 25% increase in profit potential to consider doing it again.
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