Kirk Crone

Fort Morgan, CO (USA)
Role(s):
Other

Crone Farms

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Location: Fort Morgan
Industry: Agriculture
Year Founded: 2001
Number Employees: 1-10 people
Business Stage: Growth (profitable)
Entity Type: Limited Liability Company
Description: Hello my name is Kirk Crone and I am the owner of Crone Farms & Trucking in Fort Morgan, Colorado. Along with 6 employees, we raise corn, wheat, alfalfa and other forage crops on irrigated farm ground in the area. We are also heavily involved in the custom farming business in which we farm and chop silage for local feedlots and dairies and run a fleet of new high density balers that we use to bale alfalfa and other feed. In conjunction with our farming and custom farming operations, we also run quite a few semi trucks. I started farming 12 years ago on ground that my grandfather owned. Since then, I have purchased that farm and am looking to expand further. The initial investment associated with land acquisition is the main holdup. At this point in time, the majority of my finances are tied up in equipment and operating costs. My goal in the near future is to grow my business from the current 300 acres that I currently own to somewhere between 1,500 and 2,000. With land selling for an average of $7000 per acre in the area and banks requiring 30% up front, that makes for a pretty hefty down payment. That's where an investor comes in. A scenario that I have come up with is finding someone willing to invest around 1/3 of the cost of the land. I am interested in a yearly fixed rate return on the investment for approximately ten years. After ten years, I would then like to purchase the investors share back from them. With a much higher demand than supply of farm land, prices should remain strong thus ensuring the investment will hold its value. If this is something that you might be interested in or you have another idea that you think may work as well, let me know. With a population that is only going to increase and farmland becoming more scarce every day, agriculture is only going to continue to remain a strong part of our economy. If this is something that you think you can help me out with please let me know what kind of returns that you would need and I can see if this would be something that financially would be able to cash flow itself. I know this probably isn't the kind of investment that you are used to coming across, but I think this could be something that may definitely be worth your while! Thank you for your time and I look forward to hearing from you. If you have any questions, please feel free to contact me at any time. Kirk Crone Fort Morgan Colorado (Phone # removed)