As a farmer, you work so hard and deserve to make more money with your farm. Yet, some farmers are struggling financially, and most seem unaware of just how much money can be made by simply having a plot of land that you can farm or tend to.
Land may be the most diverse source of wealth, but many farmers lack knowledge of how to get optimal value out of their farms. As a farmer, you are uninformed that there is plenty more to offer if only you could be guided on making the most of your farm.
Are you are looking for ways to make more money from the farm that you have or want to have? This article will show you the best ways to make the most of your farm.
Let’s get started.
Learn more: How to make money with farm animals
1. Grow medicinal plants
A great option for making money with a farm is to grow medicinal plants. Depending on the area where you live, there is demand for specific varieties of plants and an international market that will pay good money for your harvest.
A lot of plants have medicinal properties and are used for various ailments, both as alternative medicine or prescribed by doctors. From lavender for wounds to blackberries as an immune system booster, there are many varieties of plants you can grow and sell.
Another option is to produce essential oils. Essential oils have been used for thousands of years as natural remedies for various ailments. With the right plants, you can produce your essential oil and sell it for a nice profit.
It won’t make you rich overnight, but if you do it enough, you might be able to make a living at it.
2. Offer farm tourist attractions
Can you run an activity that allows paying visitors to come to your farm? For example a play area for children, trails, picnic areas, wine tasting, farm animals you can pet and milk/feed, farmyard trampolines.
There are several recent reports of farms with up to $1,000 or more a week from agritourism, especially during festive seasons. Here are some considerations on what to do to make your farm a tourist attraction.
- Agritourism, wine tastings, and farm tours
- Build an outdoor room with a pool and hot tubs that serves as a rental facility
- Open an outdoors café
- Build a place to see stars
- Horse riding
- Farm golf courses
- Farm accommodations
- Host camping on your farm
- If your farm is close to hills or mountains, create hiking trails
In the US, there are lots of farms that offer a visit or a ‘farm trail’, an example is Preston Trail Farms. By providing an alternative tourist attraction, rather than or as well as selling farm produce, you can earn more money from your farm.
Your earning potential with this strategy will blow your mind.
3. Lease your farm for an antenna, turbines, or solar panels
In addition to farming operations, you can lease (over a long period) a portion of your land to a company for the construction of antennas, turbines, or solar panels.
If your farm is at a high point, many telecommunication companies will pay you heavily to have their cell phone towers installed on your farm. Furthermore, if your farm is located in a windy area, some sustainable companies will pay you to have their wind turbines on your farm.
The leases will not only help farmers offset their operating costs but can also provide supplementary income. Note that you must retain ownership and full use of the land during and after construction.
Depending on space and location, cell tower leasing rates from a large management company could be around $10,000 to $15,000 per month.
4. Breed from your own animals
If you have livestock, think about breeding from them for a profit. If you breed and register your animals and then sell their offspring at an auction or online, you can make some considerable money. The industry is competitive, so be prepared to invest in the appropriate stock.
Farmers have a special obligation to breed good quality animals. Not only can you make money from sales of your stock, but the better quality animals you have, the more likely your farm is to be profitable.
Start your farm business and create a market for your animals. You can use this market to attain a steady income.
5. Rent out your place as a venue for private parties and events
A cool venue to hold an event or party. A farm is a beautiful location for a wedding, event, or picnic. Birds and wildlife add to the theme of the venue. Become a host on Airbnb and offer rooms for rent on your farm. Turn your barn into a wedding venue.
A friend of mine ran a 1-acre organic farm, selling produce at farmers’ markets in the summer. He used to find it very difficult to make ends meet during the winter, when he had no farm produce to sell, and his real job (as a teacher) required him to be off work.
One year he decided to rent out his farm as a venue for private parties and events. In addition to the outdoor kitchen, he built a picturesque venue where people from all over were invited to throw their parties.
His farm became so popular that people would plan their entire event around his farm. Wedding events cost approximately $500 on Saturdays.
Your farm is a blank canvas for your creativity. Use it to boost your income by renting it out to the finest event venues around.
Learn more: How to Make Money Renting Out Your Space
6. Blog about Agriculture
Agriculture-related blogs are the new trend in the blogging industry. People looking for the latest agriculture news and practice find blogs very helpful. Blogs about agriculture can help you increase your income by enabling you to reach out to the masses.
You can write articles that give information on the latest news on agriculture, advancements in harvesting techniques, etc. You don’t need too much to start a blog on agriculture. The following are some considerations. Note that all you need is not limited to these points.
- A passion for agriculture
- A blogging platform
- Unique articles and content
- Solve problems for your readers
- Social media automation tools to increase engagement
- A domain name and hosting plan
- Learn and understand SEO
- Learn how to monetize your blog
You do not need to be a farmer or agriculture expert to write a blog on agriculture. All you need is a passion for agriculture and you can start writing today. You can make money blogging if you are interested in agriculture and write about it interestingly.
If bloggers in this niche work hard and dedicate themselves to their work, they can make about $200,000 a year.
Learn more: How to start a blog
7. Offer services such as boarding, grooming, or training
Making extra money with your farm is a great way to offset your costs. If you have the ability, include services such as boarding, grooming, or training with your sales contract. The majority of people who plan to leave town for some days would rather leave their horse or dogs with a professional.
By offering boarding or training on your farm you can diversify your income and get some more ‘hands-on’ time with the animals. Besides, clients will be willing to pay a premium for these services if you approach them right.
You will need to determine what services you can provide and at what cost.
8. Charge for storage space
Sometimes, rather than raising prices, it’s better to create a new source of revenue. Make space in your barn available for storage. You’ve saved your seeds from a fabulous crop of vegetables or flowers from last year, and now you’re left with a lot of storage space.
Many farmers would love to also preserve their seeds and produce. You can charge a set fee per square foot of storage space. Use this income to keep the farm running, or use it as an investment option.
The best part is that you can charge enough to make it worthwhile for you, and folks will still spring for storage space.
9. Rent out farm equipment
If you run an agricultural farm or provide some kind of agriculture-related service, you can earn extra money by using your equipment to make money for yourself when you’re not using it in your own business.
Farm equipment has a purpose, but it can be difficult to find the extra money to buy them. If you already own some equipment in good condition, consider renting it out to others who need it.
For example, if you own a tractor, offer to rent it out for $50 an hour if someone needs to use it to plow their fields or clear snow from the driveway. Don’t forget about other farm equipment, such as mowers and seeders.
As soon as one farmer books with you, word spreads quickly and the phone starts to ring. If you’re serious about turning your farm equipment into cash, this is a great place to start.
10. Apply for grants from the government and NGOs
Farming is a difficult business. Not only do you have to spend so much money on it, but you also need a lot of hard work for your business to be successful. But with all of the difficulties and challenges in farming, you should not give up.
Grants from the government and NGOs are sometimes available for farmers who have certain projects in mind. Write a proposal that explains in detail what your project will be, its goals, and how you think it will benefit society as a whole.
Whether it is a government grant or an NGO grant, receiving one of these grants can make all the difference. Dedicated to bettering the lives and welfare of farmers, these organizations infuse grants every so often to help the farmers along.
Is farming more profitable than online business?
You can make money from both. I know some people who make good money from online jobs and I know some that have become millionaires with their farms. In my opinion, having a farm doesn’t stop you from having an online job.
Take your farm business online and it can become even more successful. At the end of the day, the goal is to make money. Whether you are a vegetable farmer, livestock breeder, or any other kind of professional farmer, you can make money from your farm online.
When you start or have a website, you can market your product directly to consumers at a much more competitive rate than with traditional B2B sales.
What are the basic requirements to invest in a farm?
I suppose you should decide what kind of farm you intend to invest in first. There are different options available and the type of venture you choose will be based on how much capital you want to spend, the duration for which you want to invest, and your passion as well.
In the present competitive environment, to be a successful farmer, you have to work hard and work a lot. If you are looking for an easy way out and easy money then farming is no place for you.
It is also important to be patient and honest in your dealings with others. For day-to-day administration, you must have a fundamental grasp of the basic book-keeping procedures and must be familiar with all laws regarding the business of farming.
Are there ways to make farming easy?
Yes, all it takes is for you to have farming knowledge and proper farm equipment. To make the most out of your farm, you must figure out ways to make farming easy. Farming will not be easy if you do not have the basic information about farming.
Here are some tips to make farming for you;
- Work smarter not harder
- Maximize profit early on
- Buy and hire the right equipment
- Watch the weather – Incorporate crops with different seasons
- Have the right tools
- Invest in effective software solutions
- Choose animals carefully
- Pay attention to detail
- Have fun and enjoy the ride.
What makes agriculture so important in modern society?
Agriculture has a wide range of effects on society. It affects the economy, the environment, and our health. Agriculture has always been present throughout human history. It remains today and will continue to do so in the future.
People need food and other resources to survive so agriculture generates income for thousands of people worldwide. Without agriculture, the world’s population would quickly and drastically decline due to a lack of food.
In addition to meeting basic human needs, agriculture has been a valuable economic tool throughout history.
There you have it. How to make money with your farm. If you see farm work as a way to supplement your income or make a living without dealing with a lot of red tape or stress, you will enjoy this post.
My goal is to inspire you to explore these profitable ideas to make more money from the farm you already own. All it takes is a little hard work and a lot of patience.
I hope you enjoyed reading this. There are some other articles on the blog that will interest you. Check out my post on how to make money with land. In addition, you might also be interested in real estate. Check out my article on how to make money in real estate with proven tips.
I have something that you’ll love if you have an apartment probably close to your farm and would like to make money from it. Check out my article on how to make money with rental apartments.
Thank you for reading.