The cost of starting a new farm

June 26, 2008: 1:59 PM ET

Orlen Bates Jr., Zanesville, Ohio
We purchased a home with five acres of land. I plan to grow fruits and nuts, and I want to start the business off as an LLC.  I will sell wholesale only. What risks are there selling to just one or two local stores?

I also see big startup costs, and I want to use cash only as I build the farm. Do we loan the money to the LLC? How long can I have write-offs before the IRS thinks I am not a real business?

What do you recommend? Leave a comment below with your answer.

Give us your advice: Check out recent "Ask & Answer" questions.

Related links:

Cash and a strategy for growth

A startup checklist for new businesses

A farm-equipment maker grows far afield

Paying a cattle call

Join the Conversation
Search This Column
View all entries from this: Week, Month
Powered by VIP.