Giovanna Trabasso / 05/04/2022
Simple Living: A Guide to Monetizing Your Farm
Guest Post by Sarah Bull – Economy Mom
As more people gravitate towards sustainable living, it’s becoming easier to find customers who’d prefer to shop for goods that have been locally and organically produced. While there are hundreds of ways to monetize your farm, it’s vital to ensure that your operating procedures are above board and won’t cost you more than you make. Here are some tips, courtesy of Community Lands.
Establish a Brand
Realistically, it’s more than likely that you won’t be the only proprietor of your product in your area. This makes it vitally important to establish a brand that makes your product recognizable and attracts your desired target market. Your branding could be as simple or as complex as your product itself, as long as it creates positive associations in your customers’ minds. A strong brand will also make it easier for consumers to recommend your products to friends and family. Ultimately leading to higher profits for you.
Your marketing strategy will depend on how you intend on distributing your product. If you’d like to start as small as possible, selling at local farmers’ markets will help spread the word. You could also consider promoting your offerings on local Facebook groups or forums. In fact, you can create Facebook ads for free using pre-existing templates!
Opting for in-person sales as your primary method of reaching your customers will mean you’ll need to research the best locations to get your product on the shelves. If you’re adventurous enough to move sales online, marketing online will give you the flexibility to reach your ideal target audiences.
Handle Business Matters
While you may just be looking for simple ways to monetize your hobby farm now, if your product is well-received, you may want to consider upscaling in the future. This is why it’s important to register your business correctly from the start. Whether you choose to register as an LLC or corporation, avoid unnecessary fees by filing on your own or making use of a formation service. Legal implications vary from state to state, so be certain to research the compliance requirements.
If you determine that you need a loan to get your business off the ground, keep in mind that lenders will look carefully at your debt-to-income ratio. If your debt-to-income ratio exceeds 35 percent, it may be difficult to get a loan.
Share Your Skills
If you’re active on social media, you’ll notice the rising popularity of accounts that showcase the ins and outs of unusual vocations. From beekeepers to gardeners, people enjoy watching the intricacies of a previously hidden process unfold before their eyes. Channels like Tik Tok use their algorithms to directly expose your content to those who have an existing interest. This creates more brand awareness, eventually leading to new sales.
If you don’t have the time to run your own social media account, you could also consider working with an influencer to promote your brand. Being skilled in a niche specialty allows you to create a course or offer training to those interested in learning. This is also a great way to indirectly publicize your abilities.
It’s not easy getting a small business off the ground. Especially when it involves doing so much of the groundwork on your own. If you take the time to set up smooth processes and desirable practices right from the start, you’ll be saving yourself from a lot of stress down the line. Consider your options carefully, and you’ll find that you’ll soon be making money doing what you love.
Community Lands makes buying land as simple as possible for YOU! We’ve grown a small mom-and-pop operation into one of America’s premier online land sellers. Contact us today at email@example.com for a free consultation.
Image by Pexels
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