How to Make Money From a Small Hobby FarmToni VanDoren
Article by: Chelsea Lamb of Business Pop email@example.com
For many people, having a small farm is a choice that satisfies their lifestyle. This is a chance to be away from all the noise in the city. However, it will not hurt if you add some extra spending to improve your farm if you can earn some money in return. For such a business venture, you’ll need to get the word out to as many people as possible, which is where social media marketing comes into play. Fortunately, you don’t have to hire a graphic designer or social media pro to advertise on a platform like Facebook; this will help you create a Facebook ad online and for free using templates that adhere to posting standards.
Besides working as a hobby, farming offers benefits, including improving food security. The idea is to embrace sustainable agriculture, which can not only protect the environment, but also save you money. If you’re considering making money from a hobby farm, The GRID has a few ideas worth checking out.
Host Off-Site Farm-to-Table Dinners
While this is an appealing idea, this type of event can get expensive. In some situations, you’re required to install a commercial kitchen and other permits. Before making this kind of investment, review all the requirements for a farm-to-table restaurant.
If you’re successful in hosting the dinners, this option can expand your income base as it will attract new customers. There are people who don’t like to cook but would enjoy a unique dinner out. This is the group you can appeal to when designing your business for the hobby farm.
Sell Direct to Chefs
Finding local chefs will help you offload excess produce and earn some profit. You can find many chefs who are ready to buy quality farm supplies, especially those catering to a high-end clientele and can pay a premium. You could grow unique produce that is not easy to find anywhere. By doing this, you increase the potential to find a market, and you can also get good prices. You don’t want to focus on things that are in plenty supply and perishable as this could lead to big losses.
Cultivate Craft Supplies
There are many specialty items you could grow to earn some money from your hobby farm. These include raw items like birdhouses, gourds, or lavender if you want herbal crafts. Walk around the farm and check for wild items you can forage, including acorns, pinecones, and curly willow tree branches. You could also twist grapevine prunings to create wreaths.
Another idea you can explore to earn from your hobby farm is agritourism. This is a commercial venture that links agricultural production with tourism. It’s an opportunity for small farmers who want to make extra income. For this, you don’t just need international tourists, as city dwellers looking for ways to escape the busy lifestyle can explore your farm.
There are many ways you can implement tourism on your hobby farm. These include offering farm stay and bed and breakfast. You could also make the farm a glamping destination. Give people farm experiences like trail riding, butchery, permaculture gardening, and woodturning.
Handle Business Basics
Consider forming an LLC for your business. This business entity features tax benefits, flexibility, and personal asset protection should litigation ever be brought against you. Instead of paying an attorney, you can save on LLC formation by using an online service.
If you need a little support, you should apply for small business grants. A grant can help your business prevail in the face of financial challenges. For someone venturing into agriculture, there are agricultural grants available. Industrial research and assistance program grants can also be suitable.
You can use the money to get supplies that will stabilize your operations on the farm to ensure quality produce. Finding a business grant can be challenging, so ensure you have a solid business plan and understand what you are looking for.
Having a farm comes with many monetization opportunities. If you want to get started with earning money on your farm, explore the different government grants available to you. Offer different experiences if you want to invite tourists, and you could grow unique produce for the local market.
The GRID champions entrepreneurial thinking and cultivates an entrepreneurial ecosystem that drives regional economic vitality and connects business builders to the resources, education, expertise, and social connections that will help new ventures succeed and help entrepreneurs thrive in the Northwoods. Reach out today for more info! (715) 365-4425