Ready to realize your hobby farming dreams?
Here’s a few hobby farm ideas to implement, so you’re well on your way toward creating a viable and successful small-scale agricultural business.
- Go green to save green. Consider “Reduce, Reuse, Recycle” your new mantra.
- Track deductions. Record everything you spend so you won’t end up paying for it in taxes at the end of the year.
- Clearly understand your vision. Create a formal, strategic business plan.
- Keep a positive attitude. Obstacles will arise. In the midst of a crisis, keeping your cool is paramount.
- Less is more. Start out slow with minimal equipment and infrastructure. There’s no need for fancy-shmancy equipment and supplies right away.
- Be as self-sufficient as possible, but don’t let your pride get in the way. Know when to consult an expert.
- Research. Read books on hobby farming, tap into resources online, and consult other successful hobby farmers.
- Invest in professionally-installed fencing.
- Opt for diversity. Don’t rely on one crop or product to produce income for your farm.
- Produce something to sell at farmer’s markets. Farmer’s markets are everywhere these days and are usually a great place to sell plants, food, and crafty creations.
- Contact your local branch of the department of agriculture for ideas on what might work for your hobby farm. The type of farm you start depends on many factors, including the soil, topography, climate, distance from major centers, etc. Some agricultural operations may not be viable in your area.
- Be committed. Realize that starting a farm – even a small farm – takes a lot of work. It’s basically a 24/7 operation. Be sure that you are ready and willing to put in the necessary time and sweat.
- Determine a profitable niche for your hobby farm (i.e. grass fed beef, heirloom vegetables, game birds, goats, essential oils, farmhouse cheese, wine, etc.).
Financing agricultural land can be tricky, confusing business. Here at Bankers South, we understand the ins and outs of ag lending. Whether it’s financing small hobby farm loans or large-scale citrus loans, we are here to assist you. Contact Bankers South to discover what farm loan type will best support your blooming agricultural business.