Ever wanted to start a farm? Farming is one of the oldest trades in the world. To this day, it can be a profitable business venture. Here are just a few ways to make money from farming
Choose the right produce
Farming is a competitive industry and choosing the right produce is vital. Some crops and animal products will always be in demand, whilst others may be harder to sell. Get creative when it comes to produce. When it comes to crops, consider produce that you can sell to other farmers such as game cover seed. When it comes to livestock, consider alternative animals such as ostriches or goats or llamas. Some farms have even made a profit out of selling worms as bait to fishermen.
Being resourceful and selling by-products could help your farm to make even more profit. Many farmers with chickens won’t just sell eggs and meat but also the feathers to be used in pillows and other items, whilst manure from cattle and horses can be used as a fertiliser for other farmers. Don’t let these by-products go to waste when people will pay good money for them.
Rent out your land for other uses
On top of growing crops and keeping livestock, you may be able to use your land for other purposes to generate an income. Many farmers rent out land for events – a barn could be used for weddings or work Christmas parties. You may have spare land that can be used as parking space or even a private airstrip or helicopter pad. There may be places that you can install solar panels or even a radio antennae. You can even charge people with metal detectors to use your land.
Every good farmer needs to market themselves. This can help you to generate more business. Consider attending trade shows and joining local groups where you can network and build new clientele. Get to know owners of local restaurants and shops that are committed to selling local produce. You can even hold public tours of your farm or host events in which you talk about farming. There are also many ways of embracing the digital age when marketing such as using social media and even creating instructional Youtube videos and blog posts.
Save money on equipment
You’ll make more money by minimising your overheads. For many farmers, equipment can be very costly. Instead of buying brand new equipment, consider hiring equipment when needed to save money. Hired equipment can often be top of the range and you’ll spend a fraction of the price than you would buying. It’s also worth getting involved in online competitions and couponing. There’s a huge community centred around farming and becoming members of various groups or getting involved in certain events may allow you access to useful prizes.