5 ways to turn your farm into a source of income

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One of the greatest business ventures to undertake is to turn the monthly expenses of property ownership into sustainable and consistent profits. Careful pursuits that fit your land can create opportunities unavailable to individuals who are not equipped with your specific resources.

Tips for investing your farm

Given that the given resource is a bountiful farm, how do you monetize your farm? Here are some ideas to focus on:

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  1. energy harness

Solar and wind harvesting are a lucrative option that comes with federal subsidies and tax credits that encourage landlords to invest in renewable energy. Despite initial financial input, harnessing renewable energy is creating an endless stream of revenue.

With abundant sun and wind on farms, these plots of land are great places for anyone interested in harnessing renewable energy. Ultimately, creating clean energy is a great option for large-area farms that can afford a start-up, allowing them to reap the financial benefits and help the planet.

  1. storage

Have you ever seen a boat or RV in front of the average house? Perhaps, but most likely not because RV and boat owners struggle to find storage spaces for their massive vehicles. Building proper storage facilities on your property and collecting car rent is one of the most negative possible suggestions.

This step does not require labor, just a guarantee to maintain the storage area and keep the vehicles safe. Unfortunately, car storage comes with some negatives that quickly begin to outweigh the advantages. Leaks of cleaning supplies, gasoline, battery acid, and other problematic fluids or materials can harden vehicles or even seep into the soil and increase the risk of fire or explosion.

Strict and fast rules are very important to prevent your vehicle storage from becoming a hazardous environment or a glorified junk yard.

  1. wedding venue

Engaged couples will spend every possible second trying to find the perfect place to tie the knot. Farms, barns, gardens, and mansions are some of the most popular locations for couples who want to celebrate their big day.

For farm owners, the sheer space they have makes holding weddings easy enough, plus they create a unique situation where it pays to constantly update the property to attract more business. Creating a dream wedding space for couples depends on the personality that your ranch farm has and the patrons who can attract it. But it sure can turn a good profit as well.

  1. animal husbandry

Farms with large areas at their disposal are an ideal place to raise a variety of animals large and small. For example, one acre can accommodate one cow, 2-3 white-tailed deer, 6-10 sheep, 6-8 goats, and 25-35 pigs.

Breeders will also need a variety of equipment such as feeders, pasture systems, healthcare equipment, handling systems, and scales. Individuals interested in exploring this field should stay up-to-date on the best animals for their property and breeding climate. Cows are a staple animal throughout the US Midwest, however, and have recently come under scrutiny for being responsible for 40% of annual methane emissions.

On the other hand, deer are trending because of their lean meat and adaptability to the terrain. All that is required for deer breeding is a fence 8-10 feet high, enough land to graze and move around, fresh water, natural shelters from the elements, and facilities for treating the animals. Staying up to date with the best animals to breed in your state and region can put you on the right path to caring for animals that can thrive in your climate and environment.

  1. Gardens

Gardening on the farm takes many different forms. Mushrooms, flowers, fruits, vegetables, seeds and wood come from outside and create a fun way to get out and grow some food. Extra food can be easily sold to farmers’ markets, restaurants, or convenience stores.

Crops require spacing to prevent roots from overcrowding and competing for resources, but mushrooms are incredibly adaptable to spaces of varying sizes and can even be grown on tree trunks. A bag of mushrooms can run from $20 to $40 a pound, but it’s essential to ensure that each individual mushroom is edible and not toxic for consumption.

Farm life is where America’s love affair with the great outdoors began. With these Colorado farms for sale, you can enjoy this lifestyle on a personal and profit-based level.

About the authors

Dan and Michael Murphy are the ALCs and co-owners of M4 Ranch set, a group dedicated to helping Colorado and New Mexico residents purchase the land needed to make their ranch property dreams a reality. The Murphys and their team of farm brokers share a passion for maintaining and experimenting with the ranching lifestyle and look forward to helping their clients do so too. Whether you are buying or selling ranch property, M4 Ranch Group provides expertise, experience and unparalleled work ethic along with a true love of the ranch lifestyle.

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