32 Best Ways To Make Money From Your Farming Business
Are you looking for the best ways to make money from your farm aside from your regular sales profits?
Then you need to read this.
There is no doubt that a farmer works tirelessly throughout the year to meet the needs and demands of the public.
As you know, this doesn’t always pay and most importantly, pay your bills.
Farm work is often to make ends meet or as a favour for a family member, but did you know there’s plenty of money that could be made from your farm?
Financing your agricultural business can be a game-changer, opening up opportunities to expand operations, invest in new equipment, or diversify crops.
If you are a farmer, or you want to go into farming, and you are seeking ways to make more money from your hard work, you have landed on the right article.
So my dear, get your note and pen because you are about to find out the best ways to make money farming. In this article, I will inform you of ways to go about making money, or more money from your farm or potential farm business.
Check out these handy tips so that you can earn a nice side income from the farm you already love and work so very hard for.
1. Grow Medicinal Plants
This is one of the most effective ways to make money from your farm. Due to the side effects of synthetic medicine, more and more people are beginning to search for natural medicine which is gradually becoming a trend.
Everyone now wants the natural healing effect of medicinal plants that come from farms. So if you want to make money from your farm, Here is a list of medicinal plants you can begin to plant to sell commercially:
The uses of Aloe Vera cannot be overemphasized. This single plant can be used to clear the skin, increase the growth of hair, stop balding in young men, and do a bunch of other wonderful things. The best part of it is that it doesn’t have side effects. This makes Aloe Vera a very sought-after plant in the market which translates to a bigger market for this plant.
This particular plant requires water only when it is planted, it grows very well in places where it snows. However, if you live in the northern parts of Nigeria, you might be able to grow this plant.
If eventually, you succeed in growing Lavender, you might just have solved a large part of your financial problems. Because of the difficulty of growing this plant, it is very scarce in the Nigerian market. Lavender has medicinal as well as cosmetic uses.
Vanilla is one of the costliest spices in Nigeria. Due to scarcity and high demand, finding natural vanilla might prove to be hard. Vanilla is highly medicinal but is usually used mostly by food processing industries.
Apart from its high medicinal value, lemongrass is also used to make perfumes, soaps, detergents, and some beverages. So if you are looking for ways to make money from your farming, you might want to consider planting lemongrass.
This is a brief list of plants you can conveniently plant In a small space on your farm, and earn a substantial amount of money from the sale of the produce.
15 Best Ways To Make More Money From Your Farming Business
From boosting the immune system to preventing cancer, mushrooms have many medicinal properties that make them a valuable addition to any diet.
Growing oyster mushrooms can be a profitable business with a relatively low startup cost. With a bit of research and planning, you can start your own mushroom-growing business and enjoy the benefits of growing your own delicious and healthy food while also earning money.
3. Breed Tilapia Fish
Tilapia is one of the healthy foods that many people consume this food. If you are seeking to make more money from your farm, you can consider raising fish in the backyard of your farm. Not only is this business very profitable, but it would also help you expand your business effectively, and provide that additional financial security.
Depending on the type of fingerlings you buy, your fish harvest should be ready in six months, around the same time your crops might mature.
Aquaculture is an essential aspect of agriculture, not to mention a very delicate one as well. However, you must handle your fingerlings with the utmost care. Contact your agriculture farm on ways to properly nurture a fish because one wrong move or a decrease in oxygen levels of the water can cause the tragic death of all your fingerlings.
Note that it is easy to lose sight of the first reason you started a farm. You might want to go ahead with your fish farming even when farming season starts but make sure you are also preparing for the season while you are earning money from your side job during the break.
4. Use every resource available
Finally, the biggest thing to remember when you think about making money from your farm is to use everything available at your fingertips.
Everything around you is a potential resource.
Use every part of a crop or plant. Eat or sell every part of an animal. Create multiple income streams so that not all of your eggs are in one basket.
No matter how small the income stream may seem, all those little sales can add up to create one full-time, livable income!
As you can see, there are a plethora of ways that you can make some extra money from your farm, and that’s not even scratching the surface!
Make use of everything around you. Even if it seems useless to you it may prove worthy to someone else!
5. Breed worms
Raising worms on your farm is another lucrative way of making money. You can raise worms and sell them to fishing shops as bait. Some people eat worms and they are quite healthy.
They contain protein and are very good for the skin. Since these worms leave casings, they provide some of the greatest nutrients for your body and soul:-D. You can breed these worms in tubs or barrels and harvest them in 90-110 days.
6. Let out your land
If you’ve got a large amount of unused land, or perhaps you’ve got a large woodland area that you’re not sure how to put to good use, then why not let it out?
Mountain bikers, educational school trips, camping, or even fishing spots are very attractive qualities to have when you own land – to make some money from them!
You can charge them a certain amount depending on the amount of time and space they want to use. Just like renting your farm out to campers, you must take inventory of all your types of equipment on your farm so you can have a record if anything goes missing.
You can advertise in a local newspaper that your farm is open for event rentals and gatherings. If you have enough money for advertisements, you could also advertise via a website online, or better still, you can create your own website instead.
7. Private Fishing Lake
If you have a lake on your farm, you can use it to your advantage and earn more money from your farming business. If you do not have a lake, you can simply dig up one on your farm and charge a certain fee for fishing.
This fishing could be for fun where visitors catch the fish and then release them back into the water, or, they can catch the fish then you weigh it and charge them for it. Either way, you can make a substantial amount from turning a part of your farm into a fishing lake.
8. Breed Some chickens
If you are a full-time farmer and you are not satisfied with the amount of money you earn from your crops, you can delve into breeding livestock like chickens. Chicken is the best option if you want to go into livestock.
You can sell the chicken or sell the egg. This makes it a very profitable business if managed well. Before you start poultry, you must build a house for the chickens and prepare a part of your farm for this purpose.
You must then decide on the breed of chicken you want, normally, the ISA Brown and the Broiler are the most popular options in Nigeria. You can then purchase day-old chicks and begin to nurture them to maturity. If you wish, you could purchase eggs instead of a hen. However, you will need to put these eggs in incubators which are quite expensive.
9. Snail Farming
Just like raising worms, snail farming is another way of making more money from your farm. This is also known as heliciculture and it involves the raising of land snails for human use.
Snails are very reproductive, this is due to males and females having each organ which means that they can reproduce very fast. The market for snails is a very big one. Many people have begun fleeing from red meat due to its unhealthy contents. Snail meat is far better than any red meat and far more tasty and nutritious.
In addition, every part of a snail’s body is usable, and therefore, there are fewer risks in snail farming than in any other type of livestock farming.
10. Breed Dogs
This is another great option if you are looking for ways to make money from your farm. I believe you would be able to handle a pack of dogs because of the availability of space unless you have an allergy.
To start breeding dogs, you must decide whether you want to crossbreed or want a single breed. Most people like a nice dog that was bred on a farm. However, you must know this is a very expensive process and it is quite capital intensive as well.
So, you might want to check with your banker or financial adviser before you embark on this journey of dog breeding. However, the profit returns will cover any capital spent since one puppy dog in Nigeria could run into thousands of naira or more.
11. Teaching Farming Classes
If you are a farmer, and you are confident in your skill, you can share your knowledge with young farmers who would be more than willing to pay to learn from you.
You could start an online farming course or advertise in your local newspaper. This is a very good option for older, experienced farmers who are looking for a retirement option.
As a young farmer, if you are skilled and you can impart knowledge, you can also start your homesteading tutorial online or on your farm. However, this can be very profitable for farmers who don’t just want to work in the field but have the passion to share their knowledge with the next generation of farmers.
12. Honey Bee Farm
Honey bees can produce quite a lot of honey, and Apiculture is a very lucrative business, especially for people who are not allergic to bee stings. Honestly, this is one of your best options if you want to make more money from your farm. What’s even better about honey bee farming is that it doesn’t take up much space on your farm but, can turn out a lot of profits eventually.
To start a honey bee farm, you need to purchase beekeeping equipment from an Agric market. After you have done that, you can now order your bees from an Apiary and transfer them into the hive you may have built for them or you might have purchased.
Note: Confirm with your doctor to make sure you are not allergic to bee stings. An allergy to bee stings is quite common and most people do not know until they are stung by one.
However, the experience can be life-threatening and many have died as a result. So make sure you check with your doctor to make sure you are not allergic. In addition, make sure you wear beekeepers’ gear once you are around the beehive.
13. Set up a Pig Farm
Pork meat is one of the most common types of red meat and could earn you a great deal of money. This is because pigs are relatively easy to raise.
You can raise pigs anywhere, and while they need the pig feed, they can also forage around your farm for worms and other kinds of insects.
If you’re setting up a pig farm, you should remember that pigs are vulnerable to predators, such as wild dogs and coyotes. The best way to protect your pigs is to invest in a pig pen and some netting to protect your perimeter.
14. Rent out rooms
For every farmer, there is always that mid-season break when you have just harvested your crops. Well, while you are still deciding on the next crops you want to plant, put your farm to good use and turn it into an event center or campsite.
Many churches or other institutions constantly look for places to lay their tents. Why not make some money out of your empty land? In addition, if your farm is located in a good place, it might not be such a bad idea to turn it into an event center.
If you own a farm then it’s likely that it comes hand in hand with a lovely rustic farmhouse. If you’ve got spare bedrooms, why not turn them into a quaint bed and breakfast for passersby?
Or, if you’ve got large rooms that you’re not using, sell them to businessmen and women as meeting rooms.
Perhaps you have a barn, gazebo, or bandstand? Rustic and farmer weddings are trending right now and could bring in a very tasty profit to put back into your land!
You can also turn your farm into a parking lot if you live near a mall or market, most people prefer to park their car somewhere, and then head off into the market on foot. You can charge a small amount for a minimum park time if you are currently not using your farm.
However, you must take inventory of all your equipment and other resources, before renting out you’re farming space. This will enable you to refer to your records if something goes missing on your farm.
15. Stock fuel
Owning a farm means that it’s likely you’re in the middle of nowhere, and fuel may be hard to come by for both you and the people passing your farm.
Stocking up on fuel to sell to those that have managed to misinterpret their fuel consumption will bring in a small yet steady income.
You should ensure you’ve always got enough fuel for your tractors and harvesters. For that, you should invest in a Fuel train.
Be sure to also shop around for the best deal on fuel. For example, Red Diesel – Fuelbox sells large crates of fuel in bulk and also offers discounts for large orders.
16. Double cropping
Double cropping is a form of a cropping system that involves planting two different crops in the same field during a single year so that the same land is used to generate more than one crop per year.
You can get the most out of the land thereby boosting your net income, encouraging diversification of farming, easing financial burdens, and lowering the costs of food.
In addition to this, double cropping also has ecological benefits in terms of sustainability and the environment and generally improves soil health if handled in the right way.
17. Exportation of Farm Produce
Through agricultural exports, you can generate revenue and dwell in continued prosperity. Agricultural export earnings will help provide markets for increased farm production as well as meet expanded market demand for farm products.
To achieve this, you must be able to add value to raw agricultural products and pay attention to proper handling of the farm produce to prevent pest and disease attacks. The exportation of farm produce will enable you to get the benefits of export opportunities in overseas markets.
Agritourism or Agrotourism is a combination of two words which are ‘agriculture’ and ‘tourism’ and can be described as a blend of agricultural activity that draws people to the farm for the intent of education, recreation, direct-consumer sales, etc.
Through Agritourism, you can diversify agricultural operations and are assured of a stable income, especially during the period when some crops are not in season. Furthermore, agritourism attracts members of the public to visit agricultural operations and increase farm income.
However, there is a need for you to get clarity on the legal issues depending on the activities involved and the laws of the state where the business is located.
19. Start and operate a farmers’ market
Farmers’ markets are an occasion that offers farmers an opportunity to sell products at retail prices. Farmers can make extra money by growing and selling unique crops at the market.
In addition to this, farmers can explore selling bagged vegetables with recipe cards, thereby making more money via various food recipes from selling varieties of dried herbs that are delicious and appropriate for all seasons, to creating various bagged medicinal teas that can be displayed, farmers market brings lots of opportunities for you not to put all your eggs in one basket and make some extra money.
In exploring this, farmers must start small and grow, selling more varied items and be prepared for each season, and consider nonperishable items to ensure proper maximization of sales and minimize stress.
20. Selling farm equipment
Another great way of making a good income via agriculture is through the sales of farm equipment. With the sales of farm equipment and machinery, you can make extra money that will come in handy to produce seeds and crops, purchase fertilizers, pesticides for the efficient running of the farm, and the high production of farm products.
21. Give Talks and Demonstrations
It is not compulsory to make money directly from farming activities. Demonstration farms and talks can give you an avenue to teach agricultural techniques and technologies which are smart investments that can help accelerate the adoption of game-changing innovations and farmers can learn new ways of doing things without having to do it on their farms.
You can make money through demonstration farms by teaching various farmers, schools, community centres, and public venues and receive remunerations. Topics such as how to grow vegetables or flowers, organize a farmers’ market and do beekeeping can be discussed.
Additionally, you don’t have to be an expert to be able to achieve this, you just need to be entertaining, informed, and passionate about your topic.
22. Rent Your Land for Cellular Antennas
Land is a big asset that can be explored, especially lands with high points. This can become a source of income for you by reaching out to internet companies to find out if an antenna can be placed on your property.
In considering this, it is important to consider the health implications and conduct your research to find out what areas are considered safe.
23. Lease your land for a wind turbine
Imagine having your farm in a windy area with the availability of turbines, then you should consider getting a wind turbine.
Dunes on the farm are not suitable for agricultural purposes but can be used for wind turbines and through this medium you can generate a small fortune via your farmlands.
24. Publish Articles Online
Publishing articles online is a great opportunity to write about your farming activities and make some extra money.
It is easy to get published in diverse places and with consistency and putting your mind to it, you begin to earn money from articles written, connect to other like-minded people and heighten your knowledge.
25. Make Farming Videos
Through making educational farming videos, you can provide video contents that educate to acquire information on products and services about your farms.
You begin to create a different and unusual lifestyle while your audience is cheering you up. It is key to note that your videos do not have to be long but interesting and capture the mind of your audience.
Through this medium, you begin making money when people click on the ads near your video. Additionally, you need good internet connectivity to scale through this.
26. Offer space for Boat, and Trailer Storage
If you have dry fields that are well-levelled, you can invest money to make them secure and offer the Space for trailers and boat storage.
In addition to this, you can also dedicate a car wash area to cleaning their vehicles and charge them monthly or yearly.
Before proceeding with this, you need to check with all necessary authorities on the rules and regulations guiding such operations.
27. Start fiber production
Like food crops, fibre crops surround us every day. You can make multiple income streams from selling plant-based fibres like cotton, hemp, and flax and animal-based products like wool, leather, etc.
Aside from the economic reward of fibre production, food fibre production also has related benefits such as the improvement of soil health through regenerative cropping and grazing practices.
28. Sell annual garden transplants
Selling transplants can be a successful selling niche to open on the farm. They are a great source of revenue and an early draw for customers.
In growing the transplant, you need to consider using plug trays and nursery flats to benefit from the space. It is also important to consider the best crops and varieties to grow depending on where you live.
29. Do tractor work
You can give additional services such as tractor work by making use of your tractor for agricultural works like tilling, disking, etc. which will create extra income.
The tractor helps to reduce manpower used for harvesting and planting and when you offer such a service, you help to reduce the operational cost of your customers, save time and effort, and are suitable for large and small farmlands.
30. Make money by cutting and selling wood
With a reliable supply of consistent quality wood, you can boost your income by cutting and selling wood by using your chainsaw and log splitter, you can sell firewood by cutting down dangerous trees, and take care of trees in the storm that people need to take care of.
31. Wedding Venue
With a gorgeous barn, you can rent that space for intending couples to use as a venue for weddings.
Ensuring that it is appealing for a wedding venue it would entail quite a bit of setup, and making a place for parking, it is also essential that have proper insurance and permits required.
32. Farm logistics and transportation
Transportation forms the major component of post-harvest crop management and you can make a lot of money by supporting food delivery by linking markets in different locations.
You can also liaise with farmers by supplying a fleet of trucks for company expansion, you may improve food transportation and also boost your revenue and income.
No matter the dynamic nature of any nation’s economy, one cannot take out the importance of agriculture. Its consistent contributions to the evolution of mankind are overwhelming. It effectively boosts a nation’s economy even without formal education.
You will agree with me that even after all other mineral resources begin to decline, agriculture will remain the best option for the youths to make a living.
There are a lot of things you could do with your farm to make more money. Agriculture is quite profitable if managed well. Many of the options listed above are quite capital-friendly.
You must manage your farm properly. Take great care of it to make sure that the soil on your farm is kept fertile no matter what you intend to do with your farm.
Which of these tips are you doing to help you make money?