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Setting up Agri contracting business discussion
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I'm from farming background, have no savings, have a fuck load of debt, but want to give myself more misery and pain for a slight glimpse of calling the shots and working for myself, anyone have any experience just trying to get a 50k loan and getting a tractor? |
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"I'm from farming background, have no savings, have a fuck load of debt, but want to give myself more misery and pain for a slight glimpse of calling the shots and working for myself, anyone have any experience just trying to get a 50k loan and getting a tractor?"
...tractor prices start at 1000e per horse at the minute ...so 50k would only buy you someone else's trouble...get a hgv licence....our company can't get drivers, another rival hired a guy who hit his truck 5 times in a month....minimum 1000e a week home with you, 24 days holidays, paid t an avof your salary...take a week off....1000e...give you a chance to save a bit of money...new truck, pick your route, Ireland, England, or Europe....
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Best of luck with it OP. Going out in your own is a brave step.
If you’ve a load of debt you may struggle to get finance for a tractor not to mention the implements you’re going to be pulling. So try and pay down as much of this as possible.
Being your own boss you might have the illusion of setting your own hours but you’re still answerable to your customers.
When setting your rates, stick to them. Consistency is key and make sure to collect what your owed.
Don’t forget the hidden costs of self employment that nobody tells you about, your different insurances, taxes, pensions, accountancy fees, equipment maintenance.
Don’t taken too much too soon and stick to your word. If you say you’re going to be someplace at 8:00 be there at 8:00. A bad reputation will travel a lot faster than a good one. Plus word of mouth is the best advertising you can get and it’s free. |
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By *enusalMan 17 weeks ago
tipperary Limerick London,Germany |
Short answer. No. Check rates.
Factor bad debts
Factor slow late payments.
Loads of other costs too. Should be able to work them out . If not don't go any futher.
What is u plans for tractor?
U need implements unless u going to hire tractor in and u to a business.
It's a hungry capital business with low returns and long hours
Easier ways to make money! |
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"I'm from farming background, have no savings, have a fuck load of debt, but want to give myself more misery and pain for a slight glimpse of calling the shots and working for myself, anyone have any experience just trying to get a 50k loan and getting a tractor?...tractor prices start at 1000e per horse at the minute ...so 50k would only buy you someone else's trouble...get a hgv licence....our company can't get drivers, another rival hired a guy who hit his truck 5 times in a month....minimum 1000e a week home with you, 24 days holidays, paid t an avof your salary...take a week off....1000e...give you a chance to save a bit of money...new truck, pick your route, Ireland, England, or Europe...."
I don't agree with your outlook on buying a tractor
I have 5 very good tractors ranging from years 04 to 13
And all very reliable and none would be the 50k mark |
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"I'm from farming background, have no savings, have a fuck load of debt, but want to give myself more misery and pain for a slight glimpse of calling the shots and working for myself, anyone have any experience just trying to get a 50k loan and getting a tractor?...tractor prices start at 1000e per horse at the minute ...so 50k would only buy you someone else's trouble...get a hgv licence....our company can't get drivers, another rival hired a guy who hit his truck 5 times in a month....minimum 1000e a week home with you, 24 days holidays, paid t an avof your salary...take a week off....1000e...give you a chance to save a bit of money...new truck, pick your route, Ireland, England, or Europe....
I don't agree with your outlook on buying a tractor
I have 5 very good tractors ranging from years 04 to 13
And all very reliable and none would be the 50k mark"
...would they be suitable for contract work? |
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You would be better off on crack cocaine and working for yourself first get a tattoo across your forehead
With Ballox on it so you will see it every day 😁
Keep to hell away from tractors
Has anyone seen a Millionaire who made money in agri contracting
You buy Ur tractor payments
Fuel insurance etc you pay
You do the work
You mite get paid by some
But then you have
No money untill subsidy payment 6 8 12 month wait then can't give it all
Yet you still paying for fuel and all the other shit plus tax
It's a shit show
And any larger contractors have a few hundred cows bankrolling them or another business
But good luck
My advice work for someone else
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Without any money to start with you will struggle with cash flow
Realistically 80%of your customers will pay you when the grants come out in either October or December assuming they all pay you
Even going for a 50k tractor you’ll still need the bailer and mower and tanker. Etc your not far off 150k there You then have to fight to get business from your competitor how do you do that do it cheaper than competition and the one that moves for the price isn’t a loyal customer and will move again when another lad starts his dream - I work for myself in machinery - different type but it’s 24 hours a day cos when your not working your organising parts or bits for next day only way I’d see it working is if there was a local lad considering retiring and you take over his plant and customers best of luck if you do take the plung |
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Having been self employed for most of my life...my only advice is to wait till you have some capital behind you. Even then you are going to struggle. Big contractors will make it very difficult for you as they can cut their margins to suit. Then you have the issue of getting paid. Farmers are notoriously slow in paying, some will even knock you.
Best of luck to you OP |
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Working capital is key, you need your own money, not borrowed money. Build up your pot before you take the plunge, work for someone in the industry to learn the ropes. Trying to get farmers to pay you on time or at all will be a big problem too. They could put you out of business. |
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