Hello, this is my first post on the forums so I guess I will introduce myself.
My name is Jake, I am a 20 year old from middle Tn just north of Nashville. Guess what... I am interested in ginseng (shocking I know, why would I be interested in seng and post on a sight like this :O ) .
Anyway, a friend of mine has about 50 acres of land, about 40-45 of which are woods. Me and him have walked up there a few times to see a 200+ year old spring house. On the way each time I kept noticing these strange looking plants that had a smooth stem , and branched off at a single point. Little did I know that I was walking right past what may in the end pay for my first vehicle.
I do not know how dense the plants are, I couldn't give an estimate of how many. It has been to long since we have been up on the hills. I do remember seeing quite a few 4 pronged plants and (I am sure it is my mind playing trick on me knowing how rare they are now) 2-3 5-prongs! The land has been in his family for about 40-50 years, and no one has thought to harvest the seng. Supposedly there are truffles in them woods aswell (yes, I was quite surprised aswell O_O ).
I will be going this weekend to scout the land again with him.I am not sure if it just grows on a few acres or if it grows on most of the 40+ that they have. If it is worth it I will put up the 250$ I need to harvest seng and me and him will split the profits.
So after daydreaming about having a good form of income ( I currently am not able to work do to a certain disability) I started thinking of how we could make this a good form of income for both of us (I don't know if I said it but he's my best friend, and Will remain so for hopefully a LONG TIME) that is different than most 20 year olds job's, fairly profitable, and will not be subject to the economy crashing.
What I have came up with is if the seng grows well all over his property we will harvest maybe one or two acres this year, and use about 25% of the profits to buy seed and plant more up there. After we get it set up in a couple of years to where we have new seng growing, we will continue to harvest an acre or two every year (supposedly an acre can bring like $50,000+ , but once again idk how dense it is growing, and $50,000 in Northern middle Tn is very good money. My family is currently living off of 25,000 a year, and thats being generous). Anyway while we wil be harvesting every year, we will also sow more seeds in. I have heard a half acre can produce 100lbs of seed (about 9,000 $ if I remember right), so one acre would produce around 18,000$ a year.
Would it work if we used about 25 acres worth , and cycled about a 2.5 acre root harvest a year, along with harvesting 2/3rds of all the berries, planting the other 1/3rd of course. It would bring in quite a large sum of cash from the seeds alone, with a decent bonus from the roots. And because we will only be harvesting 1/10th of the roots the freshly planted seeds have 10 years to grow before being replanted.
This is just me ballparking, and I am sure I am being over eager with this, but here is what I would assume me and him could make off of 25 acres set up like that a year before splitting between ourselves, paying laborers,misc stuff.
22x $18,000 (22 acres not 25 because I belive they take 3 years to start seeding)= $396,000
2.5 acres of roots a year- 2.5x50,000= $125,000 a year
So we could be bringing in about 325,000 $ a year before we split (after all other exspenses). Does anyone see any major flaws in this idea, or is it just something not many people have the option to start?