Starting a farm
From farm owner to property tycoon: has made millions in business
‘Secret Millionaire’ Kevin Green warns aspiring entrepreneurs that “the buck stops with you”.
The South Wales farmer recently appeared on the Channel Four show, where millionaires go into deprived communities to work as volunteers for eight days. Only at the end of their stint do they reveal their considerable wealth, before presenting cheques to stunned local community workers and other worthy recipients.
Kevin Green donated a generous £49k from his personal fortune to causes in the picturesque but rundown market town of Barnstaple.
Kevin, who followed his father into farming, has also runs a number of property companies, including Kevin Green Rentals, Mooving Limited, Mooving Money Ltd and Greens for Go.
I managed farms so I could build up revenue and start up myself; it’s hard to get on the farm ownership ladder
Forty-six-year-old Kevin has the following advice for anyone conflicted about whether to go into business: “Think of the worst case scenario, and if you’re comfortable with that then carry on.”
Krystena Petrakas: Tell us about your experience on ‘The Secret Millionaire?’
Kevin Green: I worked with the homeless and youngsters, which has really always been at the heart of what I’ve been about. I ended up helping a reform centre for young offenders, and another organisation to help terminally ill children in a hospice.
This is something I was able to contribute towards because of the money I’ve made through property business. It was a life-changing experience.
KP: When did you start farming?
KG: In 1987 and I still have the same farm today. I grew it in terms of size and cow numbers.
I cleared all my debt and now I own a farm with no borrowings. I rent it out for six months’ summer grazing and four months’ winter sheep grazing, with two months’ rest.
KP: What inspired you to become a farmer?
KG: My father was a farmer in Dorset, and I milked and managed cows for three herds. I ended up managing farms so I could build up revenue and start up myself; it’s very hard to get on the ladder in farm ownership.
KP: How can agricultural entrepreneurs get funding?
KG: Go to mainstream banks with a track record, have a strong business plan and exit strategies in place. It’s important to have experience of farming ventures before having your own farm.
KP: How did you finance your business?
KG: I had to work elsewhere first. I built up cash reserves in order to put down a 30% deposit, and I took a commercial bank loan of 70% against that.
I ran my business very tight for the first three years, so I wasn’t unnecessarily spending. We adopted a low-cost, high output system of milking cows.
I used a New Zealand model of utilising graze grass to its maximum, after a trip to the country to study its methodology.
This experience helped me massively. If you’re going to start up a new business you’ve got to research it inside out.
KP: What are the biggest problems you’ve faced?
KG: The main frustration in this business is related to delivery men not delivering on time, or contractors not turning up on time – it’s all timing problems.
KP: How do you address such problems?
KG: Cash is king: by paying them on time – even early sometimes – the stock would always come to me first. Farmers are notorious for being slow payers.
Pay contractors immediately and get a good name for payment, then you’ll have first call on them.
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