how to price farm products for small farms and homesteads
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- Опубликовано: 3 фев 2020
- Small farmers and homesteaders: do you ever wonder how to price your products? Here are some tools for determining what your expenses are, how much profit you need to make, and assessing your marketplace.
"I just bought a farm but I'm afraid I won't find a tractor small enough." Thank you for all of your videos and your entire channel. Farming has always been a dream of mine and I'm on the verge of buying something slightly bigger than an ant farm and I watch your channel every day! You've been instrumental in helping me accomplish my goals... I can't say thank you enough.
So great to hear from a small farmer to help others get into farmers
Hahaha love this! I used to watch Stoney ridge and got sick of his boring plain videos that were always pointless. Learned way more from your videos and so glad I found you to help grow my small farm
Easy Math! Can be used for all animals. Keeping it simple. Many Thanks.
Love watching you and your thoughts on farming i think your a very intelligent person. Keep it up love watching your videos ❤❤!!!
Love how you break down the actual cost of expenses, has anyone ever thought about starting a co-operative small farmers association, this would be require a separation of the farmers who only use the farm as a tax write off. I saw this happen in Florida wher home ownerers would plant fruit trees to get tax breaks.
You and your lovely Bride Hillary are inspirational. My spouse and I have invested in 160 acres of currently unimproved grained land in Alberta Canada. We look forward to our senior years building a viable farm, thanks to your advice and trials. Keep it up Pete. Oh by the way, your Amazon account is a bit wealthier now.
A great lecture in Economics 101! Well done.
Thanks for all the info you share. It’s a big help for someone like me to see where I need to go with my farm.
Greetings and best wishes from Australia.
Pete,
While your videos are aimed at production and sales on a small farm, so much of the pricing and marketing information can easily translate to other small businesses. Thanks so much for the information. The presentation is so well packaged and the videography is well done.
Thanks for all the info! My wife and I just put an offer on a small 50 acre farm in Arkansas and plan to use that as supplemental income while I still work (from home). I have been binge watching your vids...all great info
Best of luck to you!
Hi there, I am also under contract for a small farm. I need to get thing done by the end of the month. I am crazy about going back chicken farm again. How is everything going with you?
@@leomiranda2809 doing well but we actually backed out of that house when we saw the house almost falling over. But, as of yesterday just got under contract on a place here in texas!
Hodge-Podge Garage wow good luck with your new farm. Wherever it is just put a hard day of farming work and will be fine...
Best of luck…enjoy the ride!
You are a joy to learn from and watch. I watch many homestead and small farms videos on RUclips and you are one of the best. Prays and wishes for you farm and channel to grow. Yall are a true benefit to this movement of getting back to the land.
Thank you!!
Watching this for the second or third time and taking notes!!!
I am not raising for market but I like knowing how much I spend for keeping a budget.
Pete, I’ve been sharing your videos with friends. I like your approach to the far, it is similar to mine.
thanks for the video,,, i,m old an slow so i,m gonna have to watch this video several times.. be blessed and safe
Thanks Russ!
😂😂😂 Im not old, just slow.. well I m easley distracted.
Probably the best way to help the channel without actually donating. Full views, like, subscribe and often overlooked Share!
Price integrity is so important, believe in your product and sell with confidence!
Always giving so much value! Thank you Pete
Pete. This is one of the best videos. Keep them coming.
Love your channel!
Amazingly there’s still a few past videos I haven’t seen yet. Fantastic Pete!
My wife and I can't thank you enough for the informative vidoes. Hearing your family's story helps a ton with our current situation
👍 from down under, love your channel.
Great advice. Thanks for posting.
Love all your content between u and one other RUclips gave me the strength to keep pushing on in my small farm
Thank you for taking the time and effort to share your experience.
Great video, such pleasure to watch your videos, definitely one of my favourite channels.
Great information. Thank you!
I love all your videos and I'm sorry I don't comment more but I'm intrigued to get to the next video to watch it but comments help out then you're doing a great job keep at it David and Florida
I just found you. I LOVE your content. I'll be sharing your videos on our Dexter Family milk Cows group on facebook. Thanks for sharing all your knowledge! Much appreciated.
Thank you Pete! Your video dovetails perfectly with tonight's lesson on pricing in my Sustainable Ag marketing class! You are a great resource. I think the fact that I learned to drive on a big M is a factor, too... :-)
Thanks Pete (and family) ! great job again. : ) I believe you will be in the Stoneyridge ball park soon!
These are wonderful videos just been watching them. Love the way you use the old fashioned machines. Msde to last watching from Scotland. Takd care pete and hilary
Another awesome video
thank you for your videos I love them
Great information! Thank you for sharing.
Most valuable video on the topic I have seen.
Great videos. I've only watched a dozen and believe I'm already far better informed. Thank you
Thanks again Pete for another interesting and informative farm lesson. In my opinion you have the best channel for the new to farming or like me a not so new to farming homesteader, I only wish I found you before I made many costly mistakes.
Thanks for a great video! I’ve allways had a firm goal since i was about 12, im gonna be a farmer no matter what. If i become a large farmer with all the newest tractors, great! If i can only support 5 sheep, than thats what i will do. Im 25 now and have a farm with my wife, we have 14 ewes, and are in the middle of a cattle shed projekt, when we have built it we will start looking for cattle. My partents have som land and we do all the work on the fields exept for baling🙈 greatings from sweden 🤠👍🏻
Love your videos ... so informative filled with common sense ....
I found your channel last week and have been watching your videos everyday. Supper informative well done content. I grew up on a dairy farm and have already learned a lot watching you. Thankyou
Thanks. Very educational.
Keep up the good work, amazing content
I really enjoy your channel and don't understand why your channel is not more popular.
Wish I was able to do what you do.
Thank you so much for your insight, I've been struggling to figure out pricing and your video was a great help. Additionally I process wild game in Texas, the only model I can find for that is to slightly beat my competitor. People are real quick to jump ship to save nickels and dimes in that regard...
Very good video. Good business sense.
I'm just starting out thanks for the info
im watching you channel cuz i love u , they way u explain and how u love ur farm. 2nd you can be a great professor .. love you pete from india
Learning so much from your videos. Working on a business plan for as soon as we find the right property. Found your channel because I know I want to raise Dexters. Yes, I am subscribed.
Thanks Charlotte!
city boy but I really like your helpful videos. What got me whats you like IH... I had a cub many years ago with woods belly mower. Keep them coming.
Great information.
10:43 I love buying farm fresh meats and eggs, unfortunately my income doesn’t provide for this. About once maybe twice a year I go and buy from the local farm stand and man o man isn’t it good. I buy the supermarket meats because I have too, but when I’m able to go to the farm to get some fresh meats, well I know I’m eating like a king.. Thanks Pete, your Awesome..❤
thank you,,, great stufffffff,, God bless,,,,
Great content!
Appreciate your input
Excellent videos. Very informative. I'm not even a farmer.
Dear Peter, thank you so much for your videos. There are so many good informations. I wish you all the best. Torben Gram from Denmark
Thank you Torben!
Love your videos
This is a great video, thanks for putting it out. The cost to butcher cash store price is a real eye opener. We are getting a beef from a local farm here in PA and we notified the butcher cost went from $.95 to 1.25 this year. That is just the butcher fee. We also have the problem of not enough butcher shops and I suspect too much USDA interference. I don’t know what you sell ground beef for but I’d imagine it is close to the price of chicken, I can’t believe anyone still buys chicken. 🤭
Really enjoying all your videos, would like to see more butcher videos
Thanks for the videos
love the videos. i raise my own meat chickens and layers. i track my expenses and our total cost to raise a broiler are almost spot on. nevertheless I am amazed that you get people to buy a 5 pound chicken for $25. i would think you would end up with a freezer full of un sold chickens...kudos
Hello Pete, I am not a Farmer and likely never will be. Your breakdown on the finances of small farming is great and interesting. I enjoy your video's very much, I suppose in he same way I enjoy Historical Biographies. Expect to see comments from me as I support your "retirement" by supporting your RUclips enterprise. I was born not far from you, a little farther upstate, but reside in California (please don't judge me) : ). I am making my way through your past videos and am looking forward to your continuing content.
i love you content!!!
Great info. Thanks
Thank you!
Even if you are not selling, growing your own pasture-raised broilers nets you a good price on chicken to feed your family. I can imagine myself growing some out just to fill a chest freezer for myself.
Thanks so much for these videos! Would you mind making a video about taxes? You have alluded to completing your taxes and how that dictates your record keeping, etc as well as tax breaks, but I would love to see a video about a small farm through the lens of taxes!
What a great idea! And the perfect time of year to do it. I'll put that one in the hopper...
I like super simple!
For sure!
My first job was with a very small engineering firm and they used the 1/3 rule. They took what they paid me and multiplied it by 3 to set my rate. When I started my project management firm I used 1/2 rule to start then went to 1/3 rule. It is hard to raise rates but easy to lower them. Set your price to stay in business and to make an income you are happy with. Our good contractors in general added 42% to the real no profit cost of most projects they stayed in business and we got a good end result. Those that under bid were always asking for extras. Farming is a business and we all need to realize there are real people behind the food we eat.
Hey There, love your videos. Was curious if these concepts in your business videos still apply today or if you have changed or modified them since this video was made. thanks again keep up the great work. love watching all your videos
Worked in restaurants for years and thats about how we did it. My food cost was around 32% to 35% which was really good. I hated taking inventory. I was wonder how you did it but thought it was some what of the same..
very educational
i think he has only diesel tractors at least at the "newers"
Hi Pete, thank you for your videos which as an aspiring small farm farmer and Dexter owner here in the UK, I am following with great interest.
May I ask/suggest a great and useful topic would be a tour/information regarding the equipment you have and the equipment required for buying first Dexters and subsequently growing the herd and following this, infrastructure/equipment needed for different animals. Just a thought which would be useful to me right now and therefore I imagine, to other subscribers and people searching RUclips. Thanks again, James
Hi James, great idea! I will put that in the hopper for a future video.
Love it
I find it interesting that the cost of construction is similar " cost of material x 3 = final cost, usually depending on the project.
Hi Pete,love your videos, why dont you add quails..Aren't they easy to raise and great sellers.
Pete thanks for the videos. You do a great job. My question to you is, if you are selling your meat products prepackaged do you have to deal with government regulations for inspection? Again thank you.
I appreciate ur videos very much. I'm doing what I can to educate myself because my wife and I want to go back to the land and start a 1st generation homestead. Do you have videos where you are at the markets? That part of wanting to do this has been my biggest concern and I worry if it's something I would do correctly or even know how start there, any advice for others like me in the same situation?
Hi there Pete, great video and high level overview of microecon. Do you use software to price optimize and find that price equilibrium? Just wondering.
Thought for Megan. You do not mention the size of farm or what you plan to do with the tractor. That said, I have never regretted buying a tractor or tool that seems a bit too big at the time. In time I seem to "grow into" the additional capacity. I have regretted buying tools that seems "just right" as those do not grow with the operation. I am not suggesting buying a JD 8840, but a bit big doesn't seem to hurt in the long run.
Hi Pete, great information. 👍🏼 You talk about overhead costs and farm infrastructure and I get the point of depreciation. But it seems you have a better look at it. How about a video over overhead cost, costs of infrastructure. And how do you figure the small costs? A thing like a chicken feeder is a small item and one might forget about it very soon to calculate. We have the experience that exactly these small costs can really cost you a fortune when you don’t have a grip on it.
Please throw in some of your experience for the new-bees amongst us.
Hi Ray, this video may answer some of your questions, if you haven't seen it: ruclips.net/video/laB2sUqRq2c/видео.html. I do itemize and track overhead and infrastructure costs, but I found it too confusing to do on a "per enterprise" basis, so they are listed for the whole farm together. By being religious about entering them into my spreadsheets, I have a good handle on how each enterprise is doing in terms of overhead & infrastructure relative to income. At the beginning of each year I have an overall budget for these expenses, then prioritize "needs" vs. "wants." When you're first starting a farm, infrastructure expenses are huge, but a lot of the stuff you're buying will last many years, so it can throw your numbers off when you're looking at the profitability of any single enterprise.
Just a Few Acres Farm Thanks a lot for your answer. Yes but for the infrastructure comes the depreciation in play to not throw your numbers off , if I’m not wrong. But it is a fact that you will have to spend all that money beforehand ( even before the profits come in).
I will check out your video. Appreciate it 👍🏼
@@rayshobbyfarm.1019 you're right, it just gets too complicated trying to itemize depreciation for every cost. Just my perspective.
well done !!
Cheers
excellent video, thank you.
farming is a 24 hours job, but realistic how many hours per day does a farmer on the farm? I've been thinking of comparing to a job, such as if my job pays $120,000 per year on 2,000 hours per year or $60 per hour. can operating a farm pays me that equivalent?
your method of charging three times the direct cost seem to be just trying to stay in the market range, rather than comparing to the opportunity cost.
what's the value of your chicken costing $4.95 x 4.5 lbs = $22.28, when compare to what the customer could buy at the supermarket?
Love the videos!! From my quick search and math 22 dollars for a 4.5 lb broiler (complete) ready to go. I looked up Walmarts web they have 6.00 dollars for 5lbs broiler! I'm struggling. To understand? I'm pretty sure I would get laughed at! .97 cents a lb. Advertised!!I know you said not to look at cooperate but !!! Customers do! You know
Hi Eric, yes, we’re selling a premium product for a premium price. Walmart’s chicken tastes like cardboard and is injected with who knows what. Our customers understand that and are are willing to pay a premium.
Your videos are great! I try to figure out how I can manage my friend! Keep up the good stuff
@@ericlaker1983 A lot of big chains use chicken as a "loss leader" ie they get cheap cage raised birds and sell them at a loss to get customers in the door knowing most will do the rest of their weekly shop with them, thats why they advertise them so hard.
@@lordloverocket81 So that how it works, in my country that is forbidden, no store can sell any item at a loss.
I have two questions, one may answer the other. Why broilers are they better to eat? Can you not just butcher laying chickens? Seems like you have a pretty good egg factory, that you wouldn't have to buy chickens for $1:50 each. Just asking, I appreciate the videos. You always do a great job, very informative and entertaining.
Hi Cliff, great questions. We do butcher laying hens at 2 years old. They become stew hens. They have intense flavor but are tough and need to be simmered all day or put in a pressure cooker to become tender. And they are not as meaty. In contrast, broilers grow to almost twice the weight of a laying hen in just 8 weeks. They are tender and cook quickly, and are the sort of chicken meat most Americans prefer these days.
Thank you for the response. I didn't realize broilers grew so quickly. Love watching your channel...
Pete, shouldn't you also figure into expenses the cost of utilities, labor, medical, taxes, costs for the property and equipment, etc.?
👍🏻
What do you feed your boilers
Thats over 20 dollars for a chicken!!
Wow.. I dont know if thats doable
Im thinking you sell this video as economics series 101. I'll be Cornell would empty out in their MBA courses considering so many of the economics models are based on some misguided sense of welfare and social obligation. Economics are like physics...laws are laws and theories are like your shirt...."THE BULL STOPS HERE"
Heyyyyy you got 40K
When you say bird weight 4 lbs, is that live or weight after butcher?
Do you do consultant work?
Is that a gas or diesel 504
👍🇨🇦
Properly pricing products. 3x fast!