What he needs to do is provide a broken down list of his actual expenses though, not simply arbitrarily subtract a number from what he's sold. We need to see a cost of materials, cost of food, cost of maintenance, cost of vet bills, cost of fuel, cost of electricity etc. Morgan buys a ton of stuff for his farm, but we don't ever see a price for it.
these costs were covered in the per unit cost rate he applied, as direct costs of operating, watch again. Other indirect costs like maintenance are not helpful to see whether the business is working, in a "gross" concept. The other indirect costs are covered later, and likely rolled into a management fee concept.
Speaking from a guy who grew up on a sharecroppers farm in Central Arkansas back in the late 60s through the 80s, your accomplishments are really impressive. I've been watching your videos for over two years, and I have to say your are a visionary and a hard worker. Just one tidbit regarding processed beef. I would change the phrase from "grass fed" to "grass fed and grass finished." Technically, you only have to feed your cattle grass once in its life to call it grass fed. Grass fed and finished means it was fed grass its entire life. For people living the Keto Lifestyle, that's a huge purchasing benefit. Keep up the good work. I love your videos! 😁
Legally theres gotta be at least a little more to the grass fed thing or else everyone would call them grass fed cause of that one bite they nibbled between being unlocked and put into pens.
I've been on keto now for a little over a month n I did not know that. I'm going to look at the beef in my freezer now to see wth I bought 😂 thank u (edit) on the front of the package it jus says "grass fed" but on the back where it tell you more it does say "grass fed and grass finished" also says never given any antibiotics or hormones. I remember reading that in the store but I didn't realize that "fed" and "finished" weren't really the same thing.
hang on. You really want grain finished. IT is better for the meat flavour and the cow. Finishing on something like Alfalfa is going to make that meat taste icky. We only buy grass fed grain finished. Everyone wins, fatter happier cows and better meat flavour. Veganism has nothing to do with it. Our meat is of course hormone & MRNA free also.
an important factor is full time working on farm this year. so, next year growth will be not as spectacular as this year. but anyway, this year was impressive.
Considering you never know how long the UA-cam revenue potential will continue, it’s wonderful the farm is growing year over year. It seems like the UA-cam income is a great way to build out the farm infrastructure. This breakdown is very interesting. It would be a wonderful tool for teachers in farming communities.
I hope you never have to pay taxes . With those gains you are going to pay very little if anything. You are doing a great service to a community. We need thousands of farmers like you spreading across our nation. Food is medicine.
I think your pricing is great. We pay about $30 for a duck here at our local meat market. I think it's a huge bonus for you because people see your birds on UA-cam and know they're being ethically raised.
@@DestinRugers.S I had to stop watching him. His farm is too sloppy for my taste. Much better content with less hot air. But yes, he is making a LOT of $$ here.
I'm so glad that you share your revenues and expenses every year, Morgan. It shows us that your farm operations are getting more successful and it creates a better viewing experience with all the fun and wacky stuff that goes on in your vids. And hey, maybe even next year you can even start hiring farm hands and videographers/editors to assist you
I know you mentioned that some people wouldent want to see the break down on Excel sheets, but I LOVE that you do a yearly break down. Congrats on the year over year profit for 2022! I’m a new follower, so I have been binge watching to catch up, and now that I have, I love seeing new videos of your farm. You’re funny signature saying and naming SO many animals makes it feel like a big family. There is a world in which I choose to farm like you, but sadly it’s not this life, so thank you for letting me be apart of your farming life. It’s a nice way to break away from the 9-5 rat race. Good luck to you in 2023!!
Every year, this is the one video of yours that I am most interested in. I'm an accountant and I always find videos like these interesting. This is very informative and helpful. Thank you for sharing
As an accountant and someone interested in having a homestead one day I really do enjoy these videos. It's a great resource for newcomers to get an idea of the reality of owning your own small farm. Also, with regards to your cattle allocations, I would divide the total expenses by the average number of cows you had this year. List how many cows you had each month, take the average, divide your total expense by that number and you will have approximately Kurt Cobain's (RIP ❤🐂) share. It's not perfect, but it would get you close.
How so? He doesn't list or break down his expenses. This video makes it appear as if everyone with an acre of land should just add a beef cow for an extra $5000 every 2 years. He leaves out so many crucial costs.
he is allocating direct costs on a per unit basis, which is fair to analyze things in a simpler way. Of course there are other costs, but he notes multiple times that it is the "gross" profit concept he is working from, not a net concept. What may be a more interesting pending question is whether hobby losses will someday be an issue.
@@kosmocramer9468"hobby losses" He's an LLC (@~25:44). So no Hobby to report on a 1040. LLC profit/loss pass through to the shareholder(s) tax returns. I would have created a sub-S as an accountant, but lawyers are not CPAs and for whatever reason they recommend LLCs over sub-S corps. Would his numbers satisfy an audit... nope! But they give a good and general reference for those looking to do something similar.
I agree. As a recent accounting grad who is studying to pass my liscensing exams, having practical real world examples to draw from is very useful. Incidentally I was just was going over the special rules regarding farmers and self employment tax. One question that comes to mind is how cows would be classified for Accounting purposes? Are they an Asset? And if so can you take Depreciation? And what happens if you sell a cow for parts like Kirk Cobain and you earn a profit? Does Capital gains pay a role in this? Soo many questions.
This really IS impressive especially seeing you're not a large scale farm. As far as I know you're not up to your eyeballs in debts and are able to cover your taxes without starving or your animals going without, so you're doing fantastic with the added bonus of your social media audience!🏆
But he's technically not. He hides his expenses, or at least doesn't openly list them. You also need to add in the price of equipment like the Kabota (yes i know it was bought a previous year), all the metal fencing and gates, even the small valves and hardware that needs to be fixed or replaced. Heck, even property taxes should be included as an expense. Unfortunately he makes it look like small farmers should be rolling in dough.
Per Social Blade, Gold Shaw Farm is earning $39.6k to 633,700 per year, with a median revenue of $297,050 per year. This is a social media goldmine just on UA-cam. I love watching this channel. I love every new video.
Although I may never farm myself, it's still interesting to see how it's done and how each aspect of your farming life and work, comes together to help you run an ethical, environmentally friendly farm in the modern world. I was born in a farm back in Northern Ireland UK and I wonder how things were for my parents back in the day. Anyway, thanks for an interesting behind the scenes peek at your farm finances. God bless you and all those you love. And I hope you have a very Merry Christmas from my family to yours.
You work hard for that money. Most people don't understand what all goes into raising livestock. I was raised on a livestock and grain farm and my Dad still had another outside job. Which meant my mother and I picked up our fair share of chores. Plus, have a couple of big gardens for canning. Running a farm is not a piece of cake, nor will it make you rich.
I work for a small business and it’s not doing good. Had been a follower for quite sometimes and had always like your end of year revenue videos. But today, after watching I realized,for a small time anything, varieties does helps a lot. You can focus on your main product, but branching out and diversify will do good. Thank you so much. Great as always
I don’t know about anybody else but I watched your report last year and I’ve been watching all this year and have watched the growth. I found it fascinating to be honest. You being a full time farmer I think helped you grow and I’m going to be watching what this new year holds for you. Best wishes for a successful new year!
Wow! I remember the amount you made last year and it's a happy surprise to see that huge bump on this year revenue! Great job, Morgan! I can tell you really love what you do and your animals. Great video!!!
This is what I love about UA-cam; you can do what you love, and, whether you sell the product of it or not, you have a way to support yourself off your efforts
That's an amazing increase from last year! I absolutely think that your farm will continue trending upwards in revenue... you're still learning, making adjustments, creating new products, etc... Thank you for being transparent, even though it's honestly nobody's business... Edited to include: Congratulations! It must be a wonderful feeling seeing the growth of Gold Shaw Farm!!!
That growth trajectory is impressive! You could see that last year your growth had started to slow down, but then you went and expanded with the cows and clearly that was a wise decision. Good job managing so many mini businesses and planning for the future of your farm!
I really enjoyed the video - my profession is an account ant I especially liked your note that farming is a really hard business it's not for the weak at heart it's not for wimps Having grown up on a farm in northwestern Minnesota, I can tell you farming is not for the weak at heart
Great year Morgan! I'm sure the farm will keep developing and generating more income as time goes on🙂 It was quite the risk starting it without having a previous farming background, and you guys are thriving! 👏🐮🐣🐶🐱
Props for the transparency. The reality is most people can't buy a similar farm and live comfortably (especially with any mortgage and infrastrucure costs) without youtube and sponsors. Which is why its nice to have channels like this to vatch vicariously.
Great video as usual! It's fair to assume the YT channel is the real bread winner in the household & You've earned it sir! My 9yo daughter and I watch your videos almost daily dreaming of our own farm one day! Please keep posting, you're keeping our dream alive!
Thank you for being open and sharing this with us. I absolutely love the shot of the chicken chasing after you two. 14:28 May you always make more than the year before.
I am a consumer/customer of farm-raised meats. In fact, I just picked up some cuts of Highland beef, here in New Hampshire, today. Miles Smith Farm has been selling pastured and winter hay-fed Highland beef for quite a few years. They don't seem to have a problem selling their beef in the area where I live. It is pricy, but one has to consider how the animals have been raised. There is definitely a market for it if you decide to increase your herd. They just had their 'Christmas on the Farm' event featuring Rudolph the Red-Nosed Rein-Steer (a big black steer named Bleu). They actually had a red pom-pom clipped on his halter where it went across his nose! He didn't even seem to notice, and I had fun feeding alfalfa cubes to several of the coos. lol Great community event! Cheers to you and all the hard-working farmers! "Release the Quacken!"
That's incredible! I've been watching you since around 2019 and the growth your farm (esp the new animals) and your channel has gotten is so amazing to watch. I feel like I've been growing with Goldshaw farm year after year. Congrats on this accomplishment Morgan and Alison!!
When you wear that sweater it brings back so many memories for me. I knit 18 sweaters like that years ago, 4 the exact colours and very similar patterns for my 4 brothers. 3 are gone now but my memories live on. The rest of the sweaters were for sisters, nieces and nephews.
I've loved watching your farm grow and expand over the years. I'm not an extremely long-time viewer (I started watching at the start of last year), but you've grown so much since I started. I can't wait to see what you have in store for next year.
Love seeing young people make a plan, work hard and build a profitable business. Another thing you didn’t mention was the value to your life plan - invaluable.
That's amazing that you doubled your income. I remember that your wife, I believe, works a regular job. Which enables you to concentrate on making your farm work and increasing your income. Way to 'work it'!
Really enjoyed your review. Philosophically I think it’s fully legit to consider your merch sales and media revenue as farm income. Your farm work is the source of your content. (I’m very good at the obvious 🙂) Reflecting on my personal experiences around family farming and farm friends, and considering the stories told to me by old timers going back to over 100 years ago, it’s very important to sync up your farm to the era your living in. Well done.
That is a great way of putting it! Small farmers have ALWAYS found the trends and as you put it, sync'd up with their current world. In addition to farming, my great-grandmother sold Avon right after WWII, when it was brand new. Her Avon clients also bought butter and eggs. If my partner and I were temperamentally suited to social media, our farm might have made it. There is a huge hunger for this content, just having a Facebook page with a good photo and not much more, we grew in followers every week. I agree, it's legit farm income.
Just want to say (as someone who is working towards starting their own farm one day) that it is creators like you who I look to for realistic information. The fact that you go into cost vs profit, showing your own business model and growth rate. You make others realize how possible it would be to achieve their goals. Thank you for putting that kind of information out there.
I farm to show myself I can feed my family and friends if need be and maintain my flocks to have meat on the hoof if needed. Everythingbekse is a bonus and content for creation.
I enjoy your videos and this to me is a very important part of a farm. It is also rare that a farmer would share numbers, it helps us understand some of the choices you do throughout the year. It comes full circle with this and it really is great. Thanks for taking the time! Looking forward to the money video after watching next years videos! :)
Another thing to take into account-which is quite brilliant: Most businesses PAY to market their products. You’re GETTING PAID to market your product. Coming from a business where I’ve seen a TV advertising cost $25k for a basic small town TV commercial back in the late 1990’s, the fact you’re getting paid to essentially produce your own commercials through your fantastic videos is outstanding. Yes, you’re using your own equipment and editing, but you would be spending a lot of time to make commercials you’d pay to produce, as well. Well done☀️
Bravo! I shake my head every time you want to add something to the farm thinking to myself (stop already!), but realize that you are doing fantastic. Your endless ideas and energy are probably a little annoying at times, so please give Allison a well deserved hug!! Keep up the wonderful content and have a safe and happy new year! 😊
Mad respect for sharing this. Like I’ve told you before I’m a cattle farmer and as you know it’s tough to make it financially if your small. So I’m glad UA-cam is here for you..
Thank you for taking the time to share this information. I'm a city gal and everything magically appears at the grocery store. Any dog or cat food products will make you lots of money
Congratulations sir! Near 20k is a very good amount for a farm, specially your size! Thank you for putting out these numbers for people thinking about starting a farm business!
I appreciate you sharing this information. I think it is also honest to keep your media earnings outside of this conversation. Your skill in media is why I watch your channel. It is fun and entertaining. I have NO interest in moving to a farm to make a living but LOVE watching you make a go of it (been watching with my partner for over 3 years) and have enjoyed every show. It is our reality TV. We got a calendar and love it (I wanted the map).
I live vicariously through you, and I love sharing in your journey from "city slicker" to "Farmer in the Dell". PS-- I knew as soon as you donned your winter jacket, that Ginny would be on your shoulder again! 💜💜💜💜💜
I really like your attitude about pricing. When you say things sold out quickly, you then follow up by saying you want to scale, not raise prices. Mad respect on you for having that outlook.
As someone who works in Finance, I love watching your year-end reports. Really happy to see how your business is growing and all those hardwork and sacrifices are really paying off. So proud of you and keep going!
Congratulations on your growth! Crazy to see how far you’ve come in the past few years, wishing you all the best. And of course a very happy holidays to you and yours
Love the openest and honesty about what your doing! To all the critics who just look at the bottom line, the bottom line is the icing on the cake. What matters most is do you enjoy what you're doing! What good is a million dollars if you hate what you do? Something you might consider is adding sheep to your business. As I understand it Sheep can produce 2 - 3 times the product for sale in 1 year and they consume less grass/hay. Just something to think about,,,,,,
I'm super proud of your progress. Its nice to see more small farms that actually care about the well being of their animals popping up. Also my calendar arrived today and I love it :D
Except for when they snap their necks or send them to slaughter so that they can profit, if you think farmers care about animals wellbeing then you are unfortunately extremely incorrect. They only care for their wellbeing as far as they are profitable, once they are no longer profitable they are seen as waste products and nothing more.
Tree seedlings seems really profitable when factoring in the cost and work put into them.If you increased your seedling production by factor 10, you could pretty much make a living from seedlings alone.
Being a plants-only farm can be really profitable, until suddenly it isn't. It's less work, but you're at the mercy of weather, animals and diseases. Diversification is a lot less risky.
@@bonniea.1941 Yes, by having multiple revenue streams, Morgan is protecting himself and Alison in the future, as you only need one plague (bird-flu, Mad cow-disease, potato blight, MLND, chestnut blight, Dutch Elm disease, etc.) to come through and you potentially lose that whole revenue stream. If you diversify, then it may be only one stream (or even tree-type, within the tree sapling stream,) and you can still weather the storm with the others still producing a profit. A lot of farmers learned this the hard way with the BSE, bird flu, swine flu and foot & mouth epidemics over the years. This is why I like the small-scale farming model as well; because you can keep a closer eye on your animals and provide better care for each animals, than if you are farming on a larger scale. Economic crises are something altogether, but again, by relying more on some income streams than others, during hard years can help you make it through. You just have to make sure you have something that will hopefully always be in-demand and that people will be paying a good price for, since it is a good-quality product, produced in healthy, well-kept conditions where the animal had a happy life. To many, that is worth more than any savings you could make shopping in big-chain supermarkets.
@@juliemcgugan1244 Oh wow, I'd totally forgotten about the year in the 70s when every farmer in our village got Colorado potato beetle. Those beetles were everywhere! AFAIK all the farmers made it, but times were rough for farm laborers as well as e.g. tractor companies. When farmers have to cut down their spending, they start with labor and farm equipment.
Thank you! I sold my business 4 years ago due to a heart transplant. I so wanna farm on a small scale. I really enjoyed the spreadsheet look but not to exact. Merry Christmas! And thanks again.
idea. in your spreadsheet presentation have a column that shows your savings on what you did not spend at the grocery store. Are you planting your winter animal feed? A swath of Ameranth, mixed with sunflowers. easy hang and dry from the rafters. Self feeding by the birds when you toss a stalk into the enclosure. Duckweed (Limna Minor) can feed all your animals. Bamboo leaves are great timber fodder for cattle, bamboo timber sells well.
I enjoy watching your end-of-the-year profit videos. I even remember last year's profit of $7,000. It's really cool and I will continue to pray blessings over you, Alison, and your farm.
My husband always hears me watching your videos and he was asking me just a few minutes ago about how much money your farm generates. Now I can show him this video! Thanks for sharing all of your videos with us! Happy New Year!! 💖
Good for you guys man! this is awesome to see, and inspiring for my wife and I. Good food without all of the chemicals from big corp is getting harder and harder to find nowadays. Love what you guys are doing, best of luck in the new year and MERRY CHRISTMAS!
Thank you for sharring your farm income, very helpful. I have two ideas for you to consider. 1. My friends raise Yacks instead of Cows. They seem as large as buffalos but calmer, you can feed them by hand apples. You can sell the meat and the hair, cut once a year in the spring. Did you sell your cow leather? The Yack meat has a very good flavor. No antibiotics, no grain to fatten them up, they naturally keep thier calves in the center of the herd, you cannot even see them. They have no problem staying warm in winter and find plenty of grass under the snow. 2. The second idea is to build a tiny house for visitors and or workers. Especially in the summer, you could do a wolfing or just vacationers who want to visit the farm life over the summer. Either way you will not have people in your house while renting and making money, or not. What you did not mention is your monthly expense.Morgage, food, heat ,phones, taxes etcetera. Also no accounting of the familie gross income, Vidio income, outside other income or jobs to give a realistic picture of what you are really doing. Also the farm wright offs your car, your gas, your house, etcetera. What you are able to write off is also income. Thank you take care
Congrats on having such a great year. Please continue with these end-of-year summaries. I’m sure many of us feel a sense of personal vicarious involvement in your endeavor as we watch each week, and we celebrate your success!! One question: given that the tree business seems to have the greatest profit for the least effort, do you plan to expand it? Or is there a limit to that market? Best to you!!
If you made a profit after making important investments in capital, that's good! Doesn't matter how much. If the profits cover more than the expenses, then that's good business!
I now look forward to these. Seeing you succeed outside the office makes me happy for you and yours. May you never sit in a cubicle again and have many profitable new years.
Thank you Morgan for being so open and honest about the money that you have made. I enjoy your videos and look forward to seeing them. (I do try to watch your ads. Some of them I just can’t stand and skip.) May you all please take care and stay safe.
I appreciate your honesty. This is why at least one person generates income off farm, farmers in my area usually had major side businesses. We had a farmer who he with 2 of his 3 sons refinished hardwood floors. His excellent work had him with reservations up to 2 yrs out and a waiting list. His prices were reasonable, not overdone. Another farmer a plumber, electrician, carpenter, mechanic, farm mechanic, small engine mechanic, cabinet maker, the list goes on. Each son got a skill, usually but not always that benefited the farm. You side job, lol, is UA-cam. 🎉 Happy Holidays to you and yours!
@@SharonRepici I meant I was joking that he cut it off right at release the quackin and it made it sound like the money they made this year was release the quackin and now it ruined the joke ;-;
Not necessarily because sometimes they die during shipment. I watched a sad video on a UA-cam channel (Justin Rhodes) where like 100 chicks all arrived dead. Also, some people just want to hatch their own and enjoy it.
they have equal risks honestly having a living bird die or a fertilized egg not hatch is honestly the same . also just hatching birds is more adorable xD seeing those first few cracks and a moist floofy ball pop out slowly is just adorable and a good experience to witness . too cute
because eggs are sold as a package while Goslings are sold as a unit. Geese eggs are sold in packages of 4 for 65$ and a single gosling is worth 28$. If you buy 4 goslings it costs you 112$, which is nearly double the price of the fertilised eggs. With the eggs, while you have a chance not all of them will hatch, as long as half of them hatch you'll break even with your cost, and if all four of them hatch you got yourself a very good deal
I also imagine shipping costs for live birds are significantly more than shipping costs for the eggs. Yeah, you have to be careful with both, but eggs don't need airholes and can be wrapped super heavily.
Years ago I worked at a bank. I was tought the first year a new business shouldn't/probably wouldn't make a profit. The second year they expect you to break even. Third year they expect a profit of some kind. I've been watching since the beginning when you were learning about birds. You've done very well. You get better every year. I wish you and your lovely bride a Merry Christmas, much happiness and continued success in the years to come. Susan NW Georgia
That's awesome! You started from 0 with basically no experience and you built all this in just a few years, learning along the way and growing your revenue streams. Pretty impressive if you ask me
I like that you are willing to share what you make each year from the farm, so everyone can learn the business side of a farm.
What he needs to do is provide a broken down list of his actual expenses though, not simply arbitrarily subtract a number from what he's sold.
We need to see a cost of materials, cost of food, cost of maintenance, cost of vet bills, cost of fuel, cost of electricity etc.
Morgan buys a ton of stuff for his farm, but we don't ever see a price for it.
@@Roon3808 yeh because that's all from the youtube money he conveniently leaves out 🤣
these costs were covered in the per unit cost rate he applied, as direct costs of operating, watch again. Other indirect costs like maintenance are not helpful to see whether the business is working, in a "gross" concept. The other indirect costs are covered later, and likely rolled into a management fee concept.
@UCy_TkgHiV6rlNnLG83ZK6Xw they are the same thing tho🤣 no farm? No youtube...
@@kosmocramer9468 Maintenance costs are not helpful to see if a business is working??
Ah, the Penn Central method of business management 😂😭
Speaking from a guy who grew up on a sharecroppers farm in Central Arkansas back in the late 60s through the 80s, your accomplishments are really impressive. I've been watching your videos for over two years, and I have to say your are a visionary and a hard worker. Just one tidbit regarding processed beef. I would change the phrase from "grass fed" to "grass fed and grass finished." Technically, you only have to feed your cattle grass once in its life to call it grass fed. Grass fed and finished means it was fed grass its entire life. For people living the Keto Lifestyle, that's a huge purchasing benefit. Keep up the good work. I love your videos! 😁
Wow this is a great tip even for mindful consumers! Thank you!
This comment broke my soul a bit
Legally theres gotta be at least a little more to the grass fed thing or else everyone would call them grass fed cause of that one bite they nibbled between being unlocked and put into pens.
I've been on keto now for a little over a month n I did not know that. I'm going to look at the beef in my freezer now to see wth I bought 😂 thank u (edit) on the front of the package it jus says "grass fed" but on the back where it tell you more it does say "grass fed and grass finished" also says never given any antibiotics or hormones. I remember reading that in the store but I didn't realize that "fed" and "finished" weren't really the same thing.
hang on. You really want grain finished. IT is better for the meat flavour and the cow. Finishing on something like Alfalfa is going to make that meat taste icky. We only buy grass fed grain finished. Everyone wins, fatter happier cows and better meat flavour. Veganism has nothing to do with it. Our meat is of course hormone & MRNA free also.
I'd like to see a yearly report next year too. I like seeing how the farm is growing!
I will probably do another one next December
Think he's done this for a couple yrs now.
@@GoldShawFarm Love it. Please do so if it is convenient for you! My main goal for watching you is to see you grow. I enjoy it.
an important factor is full time working on farm this year.
so, next year growth will be not as spectacular as this year.
but anyway, this year was impressive.
I loved this video too. I enjoyed seeing how the numbers broke down. It helps me better understand how a farm works.
Considering you never know how long the UA-cam revenue potential will continue, it’s wonderful the farm is growing year over year. It seems like the UA-cam income is a great way to build out the farm infrastructure. This breakdown is very interesting. It would be a wonderful tool for teachers in farming communities.
That’s an incredible number and you should be so proud! Congratulations on the growth of your farm!
I hope you never have to pay taxes .
With those gains you are going to pay very little if anything.
You are doing a great service to a community.
We need thousands of farmers like you spreading across our nation.
Food is medicine.
I think your pricing is great. We pay about $30 for a duck here at our local meat market. I think it's a huge bonus for you because people see your birds on UA-cam and know they're being ethically raised.
We honestly need WAY more of this info on UA-cam. This was AWESOME. Thank you for educating us on the numbers and being thorough.
$18,000 is a really respectable number especially compared to last year. I can't wait to see next year's numbers as the business continues to scale.
He makes a sh*load of money from his other channels and promotions- probably bringing in 150K+ at least form YT alone.
@@phammond8155yes but UA-cam isn’t his farm business really because yes it’s under the name and about the farm but it isn’t his animal or byproducts
Also he has tons of cheap stuff to eat.
@@phammond8155 He's definitely under-representing how much fucking money he makes on UA-cam... It's insane what he averages on a yearly basis...
@@DestinRugers.S I had to stop watching him. His farm is too sloppy for my taste. Much better content with less hot air. But yes, he is making a LOT of $$ here.
I love spreadsheets and I gotta say this makes me want to continue to support my local farmers even more.
I'm so glad that you share your revenues and expenses every year, Morgan. It shows us that your farm operations are getting more successful and it creates a better viewing experience with all the fun and wacky stuff that goes on in your vids. And hey, maybe even next year you can even start hiring farm hands and videographers/editors to assist you
I know you mentioned that some people wouldent want to see the break down on Excel sheets, but I LOVE that you do a yearly break down. Congrats on the year over year profit for 2022! I’m a new follower, so I have been binge watching to catch up, and now that I have, I love seeing new videos of your farm. You’re funny signature saying and naming SO many animals makes it feel like a big family. There is a world in which I choose to farm like you, but sadly it’s not this life, so thank you for letting me be apart of your farming life. It’s a nice way to break away from the 9-5 rat race. Good luck to you in 2023!!
I'm impressed by the farm's revenue growth. Thanks for sharing, Morgan.
Thanks for watching!
As a numbers nerd and farm fan, I'm always happy to watch you go over spreadsheets! :D
Glad you like them!
Every year, this is the one video of yours that I am most interested in. I'm an accountant and I always find videos like these interesting. This is very informative and helpful. Thank you for sharing
I love people being transparant about their money
As an accountant and someone interested in having a homestead one day I really do enjoy these videos. It's a great resource for newcomers to get an idea of the reality of owning your own small farm. Also, with regards to your cattle allocations, I would divide the total expenses by the average number of cows you had this year. List how many cows you had each month, take the average, divide your total expense by that number and you will have approximately Kurt Cobain's (RIP ❤🐂) share. It's not perfect, but it would get you close.
How so? He doesn't list or break down his expenses. This video makes it appear as if everyone with an acre of land should just add a beef cow for an extra $5000 every 2 years. He leaves out so many crucial costs.
he is allocating direct costs on a per unit basis, which is fair to analyze things in a simpler way. Of course there are other costs, but he notes multiple times that it is the "gross" profit concept he is working from, not a net concept. What may be a more interesting pending question is whether hobby losses will someday be an issue.
@@Roon3808 I agree with you.
@@kosmocramer9468"hobby losses" He's an LLC (@~25:44). So no Hobby to report on a 1040. LLC profit/loss pass through to the shareholder(s) tax returns. I would have created a sub-S as an accountant, but lawyers are not CPAs and for whatever reason they recommend LLCs over sub-S corps.
Would his numbers satisfy an audit... nope! But they give a good and general reference for those looking to do something similar.
I agree. As a recent accounting grad who is studying to pass my liscensing exams, having practical real world examples to draw from is very useful. Incidentally I was just was going over the special rules regarding farmers and self employment tax.
One question that comes to mind is how cows would be classified for Accounting purposes? Are they an Asset? And if so can you take Depreciation? And what happens if you sell a cow for parts like Kirk Cobain and you earn a profit? Does Capital gains pay a role in this? Soo many questions.
This really IS impressive especially seeing you're not a large scale farm.
As far as I know you're not up to your eyeballs in debts and are able to cover your taxes without starving or your animals going without, so you're doing fantastic with the added bonus of your social media audience!🏆
One thing for sure. You have been open and honest from day one. Best wishes to your next years production
But he's technically not. He hides his expenses, or at least doesn't openly list them. You also need to add in the price of equipment like the Kabota (yes i know it was bought a previous year), all the metal fencing and gates, even the small valves and hardware that needs to be fixed or replaced. Heck, even property taxes should be included as an expense.
Unfortunately he makes it look like small farmers should be rolling in dough.
Per Social Blade, Gold Shaw Farm is earning $39.6k to 633,700 per year, with a median revenue of $297,050 per year. This is a social media goldmine just on UA-cam. I love watching this channel. I love every new video.
Although I may never farm myself, it's still interesting to see how it's done and how each aspect of your farming life and work, comes together to help you run an ethical, environmentally friendly farm in the modern world. I was born in a farm back in Northern Ireland UK and I wonder how things were for my parents back in the day. Anyway, thanks for an interesting behind the scenes peek at your farm finances. God bless you and all those you love. And I hope you have a very Merry Christmas from my family to yours.
You work hard for that money. Most people don't understand what all goes into raising livestock. I was raised on a livestock and grain farm and my Dad still had another outside job. Which meant my mother and I picked up our fair share of chores. Plus, have a couple of big gardens for canning. Running a farm is not a piece of cake, nor will it make you rich.
That was an amazing growth! Congrats!
And the fact that you quit your daily job and dedicated yourself 24/7/365 to farming plays a decisive role.
I work for a small business and it’s not doing good. Had been a follower for quite sometimes and had always like your end of year revenue videos. But today, after watching I realized,for a small time anything, varieties does helps a lot. You can focus on your main product, but branching out and diversify will do good. Thank you so much. Great as always
I don’t know about anybody else but I watched your report last year and I’ve been watching all this year and have watched the growth. I found it fascinating to be honest. You being a full time farmer I think helped you grow and I’m going to be watching what this new year holds for you. Best wishes for a successful new year!
Nice vid. I appreciate the transparency and the candor.
Wow! I remember the amount you made last year and it's a happy surprise to see that huge bump on this year revenue! Great job, Morgan!
I can tell you really love what you do and your animals. Great video!!!
This is what I love about UA-cam; you can do what you love, and, whether you sell the product of it or not, you have a way to support yourself off your efforts
We’ll said
That's an amazing increase from last year! I absolutely think that your farm will continue trending upwards in revenue... you're still learning, making adjustments, creating new products, etc...
Thank you for being transparent, even though it's honestly nobody's business...
Edited to include: Congratulations! It must be a wonderful feeling seeing the growth of Gold Shaw Farm!!!
Morgan each year you do better and Better. Good Job Most Farms profits are Zero or in the Negative. So Well done.
That growth trajectory is impressive! You could see that last year your growth had started to slow down, but then you went and expanded with the cows and clearly that was a wise decision. Good job managing so many mini businesses and planning for the future of your farm!
where can he get to though?
That sweet kitty cat that loves to sit on your shoulder…….melts my heart. Every single time. What a sweet girl?!?
Great job Morgan! I’m so proud of you! Thank you for sharing so much with us!
I really enjoyed the video - my profession is an account ant
I especially liked your note that farming is a really hard business it's not for the weak at heart it's not for wimps
Having grown up on a farm in northwestern Minnesota, I can tell you farming is not for the weak at heart
Great year Morgan! I'm sure the farm will keep developing and generating more income as time goes on🙂 It was quite the risk starting it without having a previous farming background, and you guys are thriving! 👏🐮🐣🐶🐱
Props for the transparency. The reality is most people can't buy a similar farm and live comfortably (especially with any mortgage and infrastrucure costs) without youtube and sponsors. Which is why its nice to have channels like this to vatch vicariously.
Its great, your purpuse starting small and learning whats work and then slowly scale up seems to work!
Great video as usual! It's fair to assume the YT channel is the real bread winner in the household & You've earned it sir! My 9yo daughter and I watch your videos almost daily dreaming of our own farm one day! Please keep posting, you're keeping our dream alive!
Thank you for being open and sharing this with us. I absolutely love the shot of the chicken chasing after you two. 14:28 May you always make more than the year before.
I am a consumer/customer of farm-raised meats. In fact, I just picked up some cuts of Highland beef, here in New Hampshire, today. Miles Smith Farm has been selling pastured and winter hay-fed Highland beef for quite a few years. They don't seem to have a problem selling their beef in the area where I live. It is pricy, but one has to consider how the animals have been raised. There is definitely a market for it if you decide to increase your herd. They just had their 'Christmas on the Farm' event featuring Rudolph the Red-Nosed Rein-Steer (a big black steer named Bleu). They actually had a red pom-pom clipped on his halter where it went across his nose! He didn't even seem to notice, and I had fun feeding alfalfa cubes to several of the coos. lol Great community event! Cheers to you and all the hard-working farmers! "Release the Quacken!"
That's incredible! I've been watching you since around 2019 and the growth your farm (esp the new animals) and your channel has gotten is so amazing to watch. I feel like I've been growing with Goldshaw farm year after year. Congrats on this accomplishment Morgan and Alison!!
When you wear that sweater it brings back so many memories for me. I knit 18 sweaters like that years ago, 4 the exact colours and very similar patterns for my 4 brothers. 3 are gone now but my memories live on. The rest of the sweaters were for sisters, nieces and nephews.
This is awesome. The lil farewell from Ginny made my day. Hope all is well Morgan
I've loved watching your farm grow and expand over the years. I'm not an extremely long-time viewer (I started watching at the start of last year), but you've grown so much since I started. I can't wait to see what you have in store for next year.
You more than doubled your income, that’s great and you entertained so many of us. Thanks for a great year Morgan.
Love seeing young people make a plan, work hard and build a profitable business. Another thing you didn’t mention was the value to your life plan - invaluable.
That's amazing that you doubled your income. I remember that your wife, I believe, works a regular job. Which enables you to concentrate on making your farm work and increasing your income. Way to 'work it'!
Really enjoyed your review. Philosophically I think it’s fully legit to consider your merch sales and media revenue as farm income. Your farm work is the source of your content. (I’m very good at the obvious 🙂) Reflecting on my personal experiences around family farming and farm friends, and considering the stories told to me by old timers going back to over 100 years ago, it’s very important to sync up your farm to the era your living in. Well done.
That is a great way of putting it! Small farmers have ALWAYS found the trends and as you put it, sync'd up with their current world. In addition to farming, my great-grandmother sold Avon right after WWII, when it was brand new. Her Avon clients also bought butter and eggs. If my partner and I were temperamentally suited to social media, our farm might have made it. There is a huge hunger for this content, just having a Facebook page with a good photo and not much more, we grew in followers every week. I agree, it's legit farm income.
Just want to say (as someone who is working towards starting their own farm one day) that it is creators like you who I look to for realistic information. The fact that you go into cost vs profit, showing your own business model and growth rate. You make others realize how possible it would be to achieve their goals. Thank you for putting that kind of information out there.
Congratulations man that’s a big increase in a year and that shows your growing exponentially and the hard work is paying off.
I farm to show myself I can feed my family and friends if need be and maintain my flocks to have meat on the hoof if needed. Everythingbekse is a bonus and content for creation.
I enjoy your videos and this to me is a very important part of a farm. It is also rare that a farmer would share numbers, it helps us understand some of the choices you do throughout the year. It comes full circle with this and it really is great. Thanks for taking the time! Looking forward to the money video after watching next years videos! :)
Another thing to take into account-which is quite brilliant:
Most businesses PAY to market their products.
You’re GETTING PAID to market your product.
Coming from a business where I’ve seen a TV advertising cost $25k for a basic small town TV commercial back in the late 1990’s, the fact you’re getting paid to essentially produce your own commercials through your fantastic videos is outstanding.
Yes, you’re using your own equipment and editing, but you would be spending a lot of time to make commercials you’d pay to produce, as well.
Well done☀️
Bravo! I shake my head every time you want to add something to the farm thinking to myself (stop already!), but realize that you are doing fantastic. Your endless ideas and energy are probably a little annoying at times, so please give Allison a well deserved hug!! Keep up the wonderful content and have a safe and happy new year! 😊
Theses nothing more admirable than hard work and honesty. This guy has them both.
Mad respect for sharing this. Like I’ve told you before I’m a cattle farmer and as you know it’s tough to make it financially if your small. So I’m glad UA-cam is here for you..
Thank you for taking the time to share this information. I'm a city gal and everything magically appears at the grocery store. Any dog or cat food products will make you lots of money
Congratulations sir! Near 20k is a very good amount for a farm, specially your size! Thank you for putting out these numbers for people thinking about starting a farm business!
Thank you very much!
I appreciate you sharing this information. I think it is also honest to keep your media earnings outside of this conversation. Your skill in media is why I watch your channel. It is fun and entertaining. I have NO interest in moving to a farm to make a living but LOVE watching you make a go of it (been watching with my partner for over 3 years) and have enjoyed every show. It is our reality TV.
We got a calendar and love it (I wanted the map).
I live vicariously through you, and I love sharing in your journey from "city slicker" to "Farmer in the Dell". PS-- I knew as soon as you donned your winter jacket, that Ginny would be on your shoulder again! 💜💜💜💜💜
Very good my friend 👍💜
I love seeing that you're not only breaking even but surpassing that and able to keep things going next year without too much worry!
Thank you for being transparent. That was helpful
Congrats on doing so well this year. Doubling your growth is amazing and I hope it continues for years to come! Merry Christmas to you and your wife!
I really like your attitude about pricing. When you say things sold out quickly, you then follow up by saying you want to scale, not raise prices. Mad respect on you for having that outlook.
As someone who works in Finance, I love watching your year-end reports. Really happy to see how your business is growing and all those hardwork and sacrifices are really paying off. So proud of you and keep going!
That was awesome thank you
Congratulations on your growth! Crazy to see how far you’ve come in the past few years, wishing you all the best. And of course a very happy holidays to you and yours
Thank you so much!!
Love the openest and honesty about what your doing! To all the critics who just look at the bottom line, the bottom line is the icing on the cake. What matters most is do you enjoy what you're doing! What good is a million dollars if you hate what you do? Something you might consider is adding sheep to your business. As I understand it Sheep can produce 2 - 3 times the product for sale in 1 year and they consume less grass/hay. Just something to think about,,,,,,
I'm super proud of your progress. Its nice to see more small farms that actually care about the well being of their animals popping up. Also my calendar arrived today and I love it :D
Except for when they snap their necks or send them to slaughter so that they can profit, if you think farmers care about animals wellbeing then you are unfortunately extremely incorrect.
They only care for their wellbeing as far as they are profitable, once they are no longer profitable they are seen as waste products and nothing more.
You’re one of the few honest farmers on UA-cam
Tree seedlings seems really profitable when factoring in the cost and work put into them.If you increased your seedling production by factor 10, you could pretty much make a living from seedlings alone.
Being a plants-only farm can be really profitable, until suddenly it isn't. It's less work, but you're at the mercy of weather, animals and diseases. Diversification is a lot less risky.
@@ValleyOakPaper That’s good advice for life generally too! 😊
@@bonniea.1941 Yes, by having multiple revenue streams, Morgan is protecting himself and Alison in the future, as you only need one plague (bird-flu, Mad cow-disease, potato blight, MLND, chestnut blight, Dutch Elm disease, etc.) to come through and you potentially lose that whole revenue stream. If you diversify, then it may be only one stream (or even tree-type, within the tree sapling stream,) and you can still weather the storm with the others still producing a profit. A lot of farmers learned this the hard way with the BSE, bird flu, swine flu and foot & mouth epidemics over the years. This is why I like the small-scale farming model as well; because you can keep a closer eye on your animals and provide better care for each animals, than if you are farming on a larger scale. Economic crises are something altogether, but again, by relying more on some income streams than others, during hard years can help you make it through. You just have to make sure you have something that will hopefully always be in-demand and that people will be paying a good price for, since it is a good-quality product, produced in healthy, well-kept conditions where the animal had a happy life. To many, that is worth more than any savings you could make shopping in big-chain supermarkets.
I’m curious about the cider apple seedlings, as my understanding was that most apples are on crabapple rootstock, so seeds will grow crab apples.
@@juliemcgugan1244 Oh wow, I'd totally forgotten about the year in the 70s when every farmer in our village got Colorado potato beetle. Those beetles were everywhere! AFAIK all the farmers made it, but times were rough for farm laborers as well as e.g. tractor companies. When farmers have to cut down their spending, they start with labor and farm equipment.
I remember when you started, you have grown a lot, impressive how committed you are.
You guys are amazing! This is pretty much how it feels a farm should be like. Doing different things and creatively using whatever resources you have
Thank you! I sold my business 4 years ago due to a heart transplant. I so wanna farm on a small scale. I really enjoyed the spreadsheet look but not to exact. Merry Christmas! And thanks again.
Congrats on your success last year! It's really great to see your progress over time with additions and changes you make as you grow and learn more!
idea. in your spreadsheet presentation have a column that shows your savings on what you did not spend at the grocery store.
Are you planting your winter animal feed? A swath of Ameranth, mixed with sunflowers. easy hang and dry from the rafters. Self feeding by the birds when you toss a stalk into the enclosure. Duckweed (Limna Minor) can feed all your animals.
Bamboo leaves are great timber fodder for cattle, bamboo timber sells well.
I enjoy watching your end-of-the-year profit videos. I even remember last year's profit of $7,000. It's really cool and I will continue to pray blessings over you, Alison, and your farm.
My husband always hears me watching your videos and he was asking me just a few minutes ago about how much money your farm generates. Now I can show him this video! Thanks for sharing all of your videos with us! Happy New Year!! 💖
Love watching your videos! They make my day.
I remember watching your other video last year. The comparison between that and this year is INSANITY. Congratulations!! You've done so well!
Good for you guys man! this is awesome to see, and inspiring for my wife and I. Good food without all of the chemicals from big corp is getting harder and harder to find nowadays. Love what you guys are doing, best of luck in the new year and MERRY CHRISTMAS!
Thank you for sharring your farm income, very helpful. I have two ideas for you to consider. 1. My friends raise Yacks instead of Cows. They seem as large as buffalos but calmer, you can feed them by hand apples. You can sell the meat and the hair, cut once a year in the spring. Did you sell your cow leather? The Yack meat has a very good flavor. No antibiotics, no grain to fatten them up, they naturally keep thier calves in the center of the herd, you cannot even see them. They have no problem staying warm in winter and find plenty of grass under the snow.
2. The second idea is to build a tiny house for visitors and or workers. Especially in the summer, you could do a wolfing or just vacationers who want to visit the farm life over the summer. Either way you will not have people in your house while renting and making money, or not. What you did not mention is your monthly expense.Morgage, food, heat ,phones, taxes etcetera. Also no accounting of the familie gross income, Vidio income, outside other income or jobs to give a realistic picture of what you are really doing. Also the farm wright offs your car, your gas, your house, etcetera. What you are able to write off is also income. Thank you take care
Congrats on having such a great year. Please continue with these end-of-year summaries. I’m sure many of us feel a sense of personal vicarious involvement in your endeavor as we watch each week, and we celebrate your success!! One question: given that the tree business seems to have the greatest profit for the least effort, do you plan to expand it? Or is there a limit to that market? Best to you!!
I’m one of those guys who actually enjoyed listening & watching your spreadsheet presentations.
If you made a profit after making important investments in capital, that's good! Doesn't matter how much. If the profits cover more than the expenses, then that's good business!
I now look forward to these. Seeing you succeed outside the office makes me happy for you and yours. May you never sit in a cubicle again and have many profitable new years.
Honestly quite shocked by the profit, in a good way, of course :3 Hopefully your farm keeps and keeps growing :3
Thank you Morgan for being so open and honest about the money that you have made. I enjoy your videos and look forward to seeing them. (I do try to watch your ads. Some of them I just can’t stand and skip.) May you all please take care and stay safe.
Almost at a million subs. Wild to see you go from chopping trees in the middle of winter to now lol
It boggles my mind every single day
I appreciate your honesty. This is why at least one person generates income off farm, farmers in my area usually had major side businesses. We had a farmer who he with 2 of his 3 sons refinished hardwood floors. His excellent work had him with reservations up to 2 yrs out and a waiting list. His prices were reasonable, not overdone. Another farmer a plumber, electrician, carpenter, mechanic, farm mechanic, small engine mechanic, cabinet maker, the list goes on. Each son got a skill, usually but not always that benefited the farm. You side job, lol, is UA-cam. 🎉 Happy Holidays to you and yours!
So what we made this year farming was RELEASE THE QUACKIN
"we"?? Are you pitching in funding his UA-cam channel?
@@blaircox1589 He reffered what he said at the start of the video
@@blaircox1589 *what morgan said
@@blaircox1589your comment most certainly did help generate funds toward GSF social media income.
@@SharonRepici I meant I was joking that he cut it off right at release the quackin and it made it sound like the money they made this year was release the quackin and now it ruined the joke ;-;
Thanks for sharing I could tell you were proud. It's hard making a nickle from farming, but its well worth it.
QUESTION : why are fertilized eggs worth more than Goslings? aren't the eggs a gamble when the goslings are a guarantee?
Not necessarily because sometimes they die during shipment. I watched a sad video on a UA-cam channel (Justin Rhodes) where like 100 chicks all arrived dead. Also, some people just want to hatch their own and enjoy it.
they have equal risks honestly
having a living bird die or a fertilized egg not hatch is honestly the same .
also just hatching birds is more adorable xD seeing those first few cracks and a moist floofy ball pop out slowly is just adorable and a good experience to witness . too cute
It’s harder to get people to come here to buy direct.
because eggs are sold as a package while Goslings are sold as a unit.
Geese eggs are sold in packages of 4 for 65$ and a single gosling is worth 28$.
If you buy 4 goslings it costs you 112$, which is nearly double the price of the fertilised eggs.
With the eggs, while you have a chance not all of them will hatch, as long as half of them hatch you'll break even with your cost, and if all four of them hatch you got yourself a very good deal
I also imagine shipping costs for live birds are significantly more than shipping costs for the eggs. Yeah, you have to be careful with both, but eggs don't need airholes and can be wrapped super heavily.
Thank you for the consistently transparent videos of your farm. This is great for both entertainment and education.
The IRS watching this year's video rubbing their hands.
Years ago I worked at a bank.
I was tought the first year a new business shouldn't/probably wouldn't make a profit. The second year they expect you to break even.
Third year they expect a profit of some kind.
I've been watching since the beginning when you were learning about birds. You've done very well. You get better every year.
I wish you and your lovely bride a Merry Christmas, much happiness and continued success in the years to come.
Susan
NW Georgia
It ended up being.. RELEASE THE QUACKENS! nice intro
That's awesome! You started from 0 with basically no experience and you built all this in just a few years, learning along the way and growing your revenue streams. Pretty impressive if you ask me
Just wondering...when you make improvements to your farm, such as the new barn and hoop house, are they figured into the farm costs?