Well I am not talking about starting a farm in the US.
I am talking about starting one in a country where the legal framework is being changed as we speak.
A new and emerging market.
Think of Cali, Colorado, Oregon etc. when it was just legalized.
The first few years, there was definitely a killing to be made there or am I mistaken?
You now have a not saturated but oversaturated market over there in most places that's why, naturally, prices drop etc. until an equilibrium is reached. The market is at that stage now over there, in some places a price equilibrium might have already been reached.
Other places, like Nevada, are still in the emerging stage and people are making a killing down there currently.
I am not looking to get rich as h.h. stated. I am just looking to support myself and my family, doing something I love and believe in and that I believe I can do well.
But I see two phases ahead during which I could make quite a bit of money.
The initial gold rush for medicinal cannabis which may last a few years and then the gold rush when recreational is legalized a few years after medicinal.
So for the coming 5-10 years I believe the market will be emerging/expanding and leave plenty of opportunity to make good money.
After that, I am fully prepared to go back to something else if I haven't been able to build a brand until then etc.
Also regarding the fields:
I hear what you say h.h. re the prime fields being taken and if they get open, locals snatch them up.
But I think that is not necessarily true for the region I am looking in.
The locals have been struggling financially for more than 5 years now and simply don't have the funds to buy a prime field when it opens up. Or there wouldn't be that many available. Some of them really do look very healthy with my limited knowledge.
Overall I agree that I sound like one of them noobs who go all in on a farm in Oregon and then cry and try to sell with as little loss as possible a year later.
And in terms of farming etc. I might well be. But in terms of business/economics, I am definitely not and I believe that is the more important part of the equation.
The farming I can either learn to do myself or I can hire cheap employees (another benefit of the region I look at, a lot of cheap labor available, hand trimming for example will be easily and cheaply done).
Another big factor that will not apply to me is the funding issue. Most people who start a farm will take on money from banks or investors. I understand the allure of that and even the financial/commercial aspects that can lead one to believe this is the "smarter" option.
But I will take on no investors nor bank loans. I have a little saved up and will get some support from the family but I will keep everything small and do it in a way that at worst I would sink 50k into the whole thing if all goes to shit. The field, the house etc. will not become worthless suddenly and if necessary, I can sit on them until the market allows me to sell them for profit. But I will have no obligations to banks or investors and therefor will have a lot more freedom and a lot less pressure to hit certain targets.
I will only NEED to pay off the initial investment and earn a living for my family and myself. I doubt I can miss these marks in an emerging market that fills a demand that has been steadily fostered over decades of prohibition.
And if exports will be allowed and I can build my brand successfully, then getting rich is definitely on the table as well.
But not my primary concern.
Also: Don't discount the possibility that some Eurodudes and Dudettes over here might have ideas and abilities to do things different and dare I say even better than some of the folks did in the US. I doubt it would be hard to become what Subcool became in the US here in Europe.
I will speak with slownickel later on.
Will update with what we discussed tomorrow or so.
Cheers for everything so far lads!