While many investors search for farms and lands to start a solid investment opportunity, others might wonder if they would make money from farming. The global farming market has grown at a compound annual rate of 9.4% in the past year. If you’re wondering how to join the statistics to maximize profit from a farm, you’re in the right place.
Even with that piece of land you’ve perceived as inadequate, you can make good money from different farming business ideas. You only need to plan strategically, start small, and remain determined and you shall succeed. Above all, don’t be afraid to engage the professionals, for they know better.
Here are eight excellent ways of making money from the farming industry.
1. Sell or Lease Agricultural Equipment
One of the practical ways to make money farming is by leasing or selling ag equipment. Many large-scale farmers prefer buying their farming equipment to relieve themselves of the frustrations of constant hiring while working on extensive produce.
On the other hand, small-scale farmers will mainly go for leased agricultural equipment as most of them operate in seasonal schedules. This can be a farming opportunity for anyone who has a thing for farming but doesn’t want to get directly involved.
2. Focus on High-Value Crops
If you desire to make money from farming, it would be best to focus on high-value crops instead of their counterparts. Some examples of such crops include bamboo, garlic, ginseng, mushrooms, and microgreens. For animals, you can try quails, broiler chickens, and cows.
While investing in these crops and animals can be demanding initially, the returns are highly desirable in the long run, especially for large-scale farmers. However, you must thoroughly research a given product and its potential performance in the market before embracing it.
3. Grow and Sell Flowers
Flowers are a great opportunity of making money as a farmer. You can make a living by raising and selling flowers internationally and locally. The good thing is that there are plenty of flower species you can successfully embrace as a beginner.
Although flower farming is highly demanding regarding finances and maintenance, you can be guaranteed to enjoy impressive returns with determination. Statistics show that at least 50% of flowers are purchased as gifts yearly, while the rest are used in the home, office, or during weddings, graduations, and funerals.
4. Rent Space to Farmers
Did you know you can rent some space to farmers to extend your investment in the industry? It’s possible! If you’re a farmer with some extra land, you can rent it out to other farmers, especially when the demand for land is high, and make a living out of it.
In addition to that, you can invest in luxurious farmer cottages for renting to tourists or seasonal farmers. Another option that farmers with surplus land can go for is to offer storage services (short and long-term) to fellow farmers for their equipment, machinery, seeds, and products.
5. Go for Beekeeping
One of the most overlooked yet lucrative farming opportunities in the 21st century is beekeeping. Besides its eco-friendliness, beekeeping can be pretty profitable and doesn’t require much land like other farming opportunities. You can begin beekeeping with as low as 1 acre of land or blend it with other ideas such as flower farming.
Additionally, the business idea boasts little maintenance, as bees do not require constant monitoring. Research shows that farmers can make $10 to $17 from selling a pound of honey to retailers. Other profitable beekeeping products include selling beeswax and beehives.
6. Offer Farming Classes
Farmers who have lasted longer in the industry and with tremendous performances can generate additional income by offering farming classes to amateurs. Some people would think that one doesn’t require professional knowledge to become a farmer, whereas farming is like any other course.
For instance, you can teach passionate, upcoming, and beginner farmers:
- How to recognize and operate various farming machinery.
- How to start different farming business ideas.
- When to focus on what farm animal or crop, depending on seasons.
- How to plant and care for different seedlings and young animals.
You can offer your classes through online platforms, physically at your farm or a different and easily accessible place, or through blogs and YouTube channels.
7. Sell Seeds and Seedlings
All crops and animals in the farming industry start as tiny seeds, seedlings, or a pair of animals. As an experienced farmer, you can sell these seeds, seedlings, or chicks (for chicken farming) to other interested farmers to help them give life to more fabulous farms.
The good thing with this farming business idea is that it requires less effort, as all you need to do is acquire the proper knowledge regarding the seeds and seedlings before purchasing them for retail and wholesale sales.
8. Breed and Train Pets
Pets have become a part of human life for thousands of years, providing immense companionship and security as a farmer. This provides a tremendous money-making opportunity as you can breed and train different pet species before releasing them to the market.
You just need to research different breeds, from selecting the best and acquiring high-quality breeding stock. You can provide training services such as sitting, walking, good behaviour, and potty usage.