Congratulations to two of the nicest founders I have met and their team :)
According to Wikipedia, there were 2.2 million farms in 2007. Since the number of farms is decreasing (land development, consolidation, etc), let's say today there are only 2 million. At 5%, that's 100k farms on FarmLogs. That's impressive. I wonder how many of them are paying customers?
Especially given that most farmers I know are older (think Baby Boomer age) and are barely competent using the Internet never mind an app/SAAS like this.
1 - https://en.wikipedia.org/wiki/Agriculture_in_the_United_Stat...
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.
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.
1) the ones who didn't aren't farming anymore
The farming automation stuff happening now is fascinating. I saw a piece on Bloomberg or somewhere similar that had old farmers just sitting in a room monitoring their equipment on computers.
Edit: another note in terms of "old" people using computers -- the guys that are in their 70s now were in their late 30s and 40s when the IBM PC was released in 1981.
I think the abilities of the 65+ market are under estimated both by younger people and the older people themselves. Modern interfaces just tend to be designed very poorly for people who poorer eye sight, hearing, and so on.
And they were using them back then then too. Growing up in the early 80s on a farm, I don't remember any farming families that didn't have a computer in the home. It was an essential tool.
Good luck, guys. It's a tough row to hoe considering all of the major agricultural machine manufacturers (Case, Deere, etc.) have some variation of this service coupled with world-wide dealer networks to sell it. If you think you're going to be able to wedge yourself between farmers and the dealers that they have been dealing with for years and in some cases generations, best of luck with that.
Interesting idea, but the best they can hope for is a talent acquisition buy-out.
For anyone looking, it was mostly me looking to move to a different state than they were located in. All in all seemed like a great place to work. :)
> Yep it is USA only but it's interesting. Especially the market watch on grain price. Farmers never have a notion what the worldwide price for barley is even thou they sell it.
> Also the farm log on field performance is something that would work on a smaller irish scale.
> There would be a definite appetite for something like that.
I don't understand why apps such as this are limited to US only? There are plenty of early adopters in the rest of the world.