Machinery and Equipment selling is fast becoming a new income stream for Farmers

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By Dwain Duxson

Machinery and Equipment selling is fast becoming a new income stream for Farmers.

Well, in reality, it has been an income stream for some time, just not a recognised one.

A new income stream can become a new category, a new code in the revenue side or your accounting program. And most of all, it can put dollars in your bank account. It's now becoming something that many take seriously and do well.

As the cost of Machinery and Equipment increases and with Farmer's owning many more Machines than they used to, it means more and more money is tied up in stock (or Inventory as they call it now). Therefore selling items is now a serious part of a Farmer's income.

Our mindset is that our income is derived from selling commodities and commodities only.

With the increased value of Plant, each Farmer now has, means that turning over Gear needs to be part of the equation.

Also, we are seeing more Farmers flip items. They might buy something to use for a specific job, get the job done and on-sell that item. This is something Farmers are getting more comfortable doing.

But it's not foolproof. You can't predict what the market wants, and there's a lot of luck involved in selling something. That's where having a large number of eyeballs on your item can eliminate a lot of the luck. Pick a selling platform that has a large audience. You have to reach the market.

To some, selling Machinery and Equipment is already recognised as a form of revenue. If you didn't realise it was, then it's time to take some notice. And if you commit, take it seriously, and prepare your items like your Woolclasser prepares your Wool Clip….