Owning a ranch is a dream come true for many; owning a luxury ranch takes that dream one step further. Many seeking to leave the hustle and bustle of the city ? or simply start over ? are aware of the fact that owning a ranch or farm comes with a lot of hard work. While that?s true, what fewer are aware of is the fact that now is the time to jump on the prime real estate available for ranching. A luxury cattle ranch, hunting ranch, or even a horse ranch is no longer a lofty dream in today?s market.
Where To Start Your Ranch
The area in which you decide to start your ranch is crucial to its success. Luckily, there is currently land for sale in various locations perfect for a luxury cattle ranch. This includes Wyoming, Colorado, and Texas ? in fact, Texas is the leading nation in value of farm real estate, while Wyoming currently possesses almost 30.169 million acres of land to be used for agricultural purposes. Choose carefully: there is a difference between farming and ranching, and the land you choose for ranching may not work as well if you would rather farm. While ranches are large, and can function with or without crops ? though they always come with livestock ? farms can be large or small, and focus more on things like vegetables or meat products like pork or poultry. While a ranch could easily breed horses, for example, a farm could not do so.
Manpower: Running Your Ranch With Employees
As you can imagine, ranches often need a good number of employees, while farms can sometimes run with a few employees and plenty of family assistance. (In fact, up to 96.4% of all farms in the United States are family-owned.) Your dependence on assistance can also influence where you choose to buy your ranching land. With one-in-seven working Texans ? a total of 14% — in an agriculture-related job, you can know that there will be plenty of experienced ranch hands available and ready to help you in Texas. On the other hand, you?re also providing jobs and thus stimulated a local economy.
Making Money Off Your Ranch
Whether you want to have a luxury cattle ranch or a horse training facility, you?re going to need to make money. As previously mentioned, many ranchers breed horses, cattle, and other livestock, turning in a tidy profit. Others focus on more agricultural pursuits. There is another rising market in ranching that is particularly possible for those who want to live in luxurious accommodations. Dude ranches are functioning ranches that also provide room and board for people who wish to pay and ?play rancher? for a few days or weeks. Many ranchers find that dude ranching is a great way to turn an extra profit. No matter how you choose to make your money, now is the time to do it!