The story of Ten Triple X Ranch from the business perspective is likely best told by backing up a little and talking about our previous ranch, the Broken O. The Broken O was a personal investment, the brand literally representing both my wife Connie and me: the left side of the broken “O” was the “C” for Connie’s name and the right side was my “J” for Joe. This land covered about 5,000 acres in Kendall County near Boerne, Texas and was a cow-calf operation where we maintained a permanent herd of cows and subsequently sold the calves. The only problem with the ranch was that we were losing our backsides on the operation. Something needed to change.
Our accountant at the time was in the Dallas area, but we didn’t think we were getting the best input from him. On the advice of one of our trusted bankers, we started talking with ATKG. They were known, even 15+ years ago, as a firm that specialized in family ranches. Teryn was quick to demonstrate why the firm had built that kind of reputation. She understood that we had a large investment in the property, needed time to get the business up and going, but needed accurate reporting and high-level planning to make sure we received all the benefits possible.
She made some early entity suggestions, including restructuring the ownership to consider long-term goals and tax issues. She gave us a lot of advice on the operations too, such as a recommendation that we build a business plan for the ranch operations to show how it would cash flow and become profitable. This was the kind of perspective we had been looking for.
When we purchased Ten Triple X, a ranch that is ultimately about twice the size of Broken O, Teryn and folks at ATKG were there from the beginning. With their help, we started this business venture out on very different footing. We incorporated many of the concepts from our Broken O experience into setting Ten Triple X on a path to profitability right from the start. We were intentional about our business plan, establishing three clear phases of the ranch’s growth. Phase One began in 2001 with the cow-calf operation. Once that hit its defined milestones, we evolved into Phase Two, around 2005, with a show cattle operation. Phase Three kicked off about five years after that with the cross breeding of grass-fed Lowline Angus cows with high-quality Waygu bulls. In early 2016 we will make this superior beef available to the public through the web, and fine dining and grocery establishments nationwide.
Ten Triple X has been a great business venture, and it’s nice to see it succeeding. Perhaps more importantly, however, ATKG ensures that I leverage the benefits from our Ten Triple X operations – profit wise and with proper planning – as they pertain to all our other endeavors. Teryn and the team at ATKG see the big picture, and provide great insight, perspective and advice on how we can have this kind of success in everything we’re involved in.
— Joe Mitchell, Ownerby