http://www.ers.usda.gov/topics/farm-economy/farm-household-w...
What is more meaningful is to look at farms with sales of $250,000 per year or more. They're 9% of farms but account for 80% of sales. There are roughly 125,000 farms in this group.
http://www.ers.usda.gov/topics/farm-economy/farm-household-w...
What is more meaningful is to look at farms with sales of $250,000 per year or more. They're 9% of farms but account for 80% of sales. There are roughly 125,000 farms in this group.
There are two (at least) different definitions of "farm." One is large commercial business often utilizing a thousand acres or more. I suppose these are FarmLogs' focus?
The other is family-operated (except for seasonal help perhaps), typically less than 250 acres. I live in Lancaster County, PA where farms average 78 acres. The farm I live on (and operate) is ~50 acres and has crop & animal revenue far less than $100k. But it's still a viable farm.
Average revenue per farm in Lancaster County is $183k. That's another almost meaningless number without knowing the distribution. I'd guess 10% of the farms I know are much more than $250k.
http://www.lancasterfarmlandtrust.org/heritage/farming-lanca...
If you're talking farms with over a million dollars in sales per year (around 40,000) then having 2000 farms using FarmLogs is highly significant.
Either way very proud of this Michigan startup's success to date.