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Registered: ‎02-26-2018
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New Seed Business

[ Edited ]

I recently have gotten into the seed business and I'm currently just selling off the farm. However, I've been given a chance to expand this business into town. I've been trying to make a decision on how to make the purchase of the warehouse. I own a few hundred acres of pasture land and some cattle (which haven't been profitable for the last two years) that I have the ability to sell to cover the expense of purchasing this warehouse. My family is completely opposed to the idea of selling the land and cattle, but my instinct & my banker is telling me that the seed business is the way to go. What do you guys out there think I should do with this dilemma? 

 

Last year I lost $14,000 on the cattle/pasture and I made $25,000 profit from the seed business with expanding interest. I would have roughly $100k after the paying off debt after the sale of the cattle & land to invest into the seed business. At the same time, similar property in the area rarely comes up for sale and when it does it usually brings top dollar (very large ranchers in the area).