The Farm Business
Finances
Off-Farm Income
As described under Equipment, Adam and Laura’s strategy has been to use off-farm income to support themselves while using farming profits to make capital purchases. One or both of them worked off the farm between 2005, when they started Loon Organics, and 2009, when they bought their own farm. Laura’s off-farm hours during their first season in business made the harvest especially challenging, as described in one of their articles in the New Farm.
Between 2006 and 2008, Laura worked full-time on the farm during growing seasons and worked full-time during the off-season in the produce department of a local food co-op. She also filled in at the co-op in 2009. Adam started a full-time job as an environmental chemist in early 2006 and worked there until March 2009. Adam's job helped them to fast-track the purchase of a farm. It allowed them to save for a down payment, have health insurance, put the farm profits back into the business, and have a steady income to show to loan officers.