How to Make Your Hobby Farm Pay
Hobby farms are farms that are generally maintained without the expectation that they'll form any significant part of your income, but there are ways to monetize them. If you want to make your small hobby farm pay, you’ll need to have a good business plan. Ready to get started? This guide presented by Sweet Yellow Cornbread can help you get things started.
Making Small Acreages Pay
In most cases, hobby farms run the gamut of 5 to 20 acres, which is much bigger than the average garden but too small for most commercially run businesses. However, by focusing on specialty produce, you may bring in substantial revenue.
The most popular option is to raise rare-breed animals, such as Lincoln Red or Dexter cattle, Tamworth or Lacombe pigs, or Barbados or Navajo-Churro sheep. These offer a more distinct flavor profile than commercial breeds, and if they're grown locally, they can often be marketed toward those who care where their meat comes from.
Careful husbandry can provide substantial benefits, and smaller farms can make less profitable land pay in many respects. Pigs can be grown on woodland quite easily, whereas sheep do well on scrubland and anywhere there’s a steep hill. Goats are increasing in popularity, with goat meat providing a gamy flavor that’s milder than venison.
In addition, most animals produce milk, allowing you to create butter, yogurt, or cheese. These dairy products can provide a side business if you have a suitable area for processing them. You may need a license to process dairy products, so check state regulations.
If you wish to slaughter animals on-site for human consumption, you'll need a license to do so. However, if you use an abattoir and then package your own products, you may only be subject to public health inspections. However, it depends on the nature of what you're doing and the types of processing that you do.
What About Crops?
In most cases, crops will not generate much income from a hobby farm. However, you may explore heirloom varieties that can be sold for a substantial markup, or you might think about more unusual crops, such as artichokes, asparagus, or even wasabi. Make sure there is a market for it, however. Additional processing can increase the value of your products, making them much more worthwhile.
Getting Funding
Funding can be a major headache, particularly when you have large capital expenses. However, there are specific grants that can help. Those who wish to incorporate green energy into their farm may wish to look at funding programs as well.
You may find it easier to gain access to funding if you register your business as a corporation. It’s typically easier to raise capital when you're incorporated as you can sell stock in your company and banks may be more willing to loan you money. If you’re interested in forming a corporation, a formation service can help.
Marketing Your Hobby Farm
Of course, you want people to learn all they can about your hobby farm and what you’re selling, and the best way to do that is through marketing and advertising. However, instead of costly traditional advertising, look for cost-effective and grassroots ways to market yourself. For example, if you’re active on social media platforms like Facebook, use this as a way to spread the word about what you have to offer. You can even use an online Facebook ads maker to help you generate eye-catching images to help promote your business. Don’t forget about platforms such as Twitter and Instagram as well.
Making More From Your Hobby Farm
Ultimately, your hobby farm may be able to sustain a reasonable business, especially if you expand your acreage and focus on producing your own goods.
Hobby farms are farms that are generally maintained without the expectation that they'll form any significant part of your income, but there are ways to monetize them. If you want to make your small hobby farm pay, you’ll need to have a good business plan. Ready to get started? This guide presented by Sweet Yellow Cornbread can help you get things started.
Making Small Acreages Pay
In most cases, hobby farms run the gamut of 5 to 20 acres, which is much bigger than the average garden but too small for most commercially run businesses. However, by focusing on specialty produce, you may bring in substantial revenue.
The most popular option is to raise rare-breed animals, such as Lincoln Red or Dexter cattle, Tamworth or Lacombe pigs, or Barbados or Navajo-Churro sheep. These offer a more distinct flavor profile than commercial breeds, and if they're grown locally, they can often be marketed toward those who care where their meat comes from.
Careful husbandry can provide substantial benefits, and smaller farms can make less profitable land pay in many respects. Pigs can be grown on woodland quite easily, whereas sheep do well on scrubland and anywhere there’s a steep hill. Goats are increasing in popularity, with goat meat providing a gamy flavor that’s milder than venison.
In addition, most animals produce milk, allowing you to create butter, yogurt, or cheese. These dairy products can provide a side business if you have a suitable area for processing them. You may need a license to process dairy products, so check state regulations.
If you wish to slaughter animals on-site for human consumption, you'll need a license to do so. However, if you use an abattoir and then package your own products, you may only be subject to public health inspections. However, it depends on the nature of what you're doing and the types of processing that you do.
What About Crops?
In most cases, crops will not generate much income from a hobby farm. However, you may explore heirloom varieties that can be sold for a substantial markup, or you might think about more unusual crops, such as artichokes, asparagus, or even wasabi. Make sure there is a market for it, however. Additional processing can increase the value of your products, making them much more worthwhile.
Getting Funding
Funding can be a major headache, particularly when you have large capital expenses. However, there are specific grants that can help. Those who wish to incorporate green energy into their farm may wish to look at funding programs as well.
You may find it easier to gain access to funding if you register your business as a corporation. It’s typically easier to raise capital when you're incorporated as you can sell stock in your company and banks may be more willing to loan you money. If you’re interested in forming a corporation, a formation service can help.
Marketing Your Hobby Farm
Of course, you want people to learn all they can about your hobby farm and what you’re selling, and the best way to do that is through marketing and advertising. However, instead of costly traditional advertising, look for cost-effective and grassroots ways to market yourself. For example, if you’re active on social media platforms like Facebook, use this as a way to spread the word about what you have to offer. You can even use an online Facebook ads maker to help you generate eye-catching images to help promote your business. Don’t forget about platforms such as Twitter and Instagram as well.
Making More From Your Hobby Farm
Ultimately, your hobby farm may be able to sustain a reasonable business, especially if you expand your acreage and focus on producing your own goods.
