How to Turn Your Hobby Farm Into a Side Hustle
Have you ever wondered how to
turn your hobby farm into something that produces revenue? You’re not
alone. Starting a side hustle out of your farm can
be an effective way to grow your income without having to quit your day job,
and as long as you do it correctly, you’ll be surprised by just how much money
you can make at it. Below, Carrie
Spencer shares some tips on turning your hobby farm
into a source of steady income.
Sell What You Produce
The easiest way to monetize
your land is to produce a product and sell it. Whether you’re trying to cash in
on a hobby or make a living off your homestead,
selling what you produce can be an easy way to turn your field into a farm —
and put some money in your pocket, too.
Where Can You Sell things?
If you are creating a product
that is best sold locally, like organic produce or seeds, your best bet
for sales is to sell it at local farmer's
markets, craft fairs, and flea markets. If
you're planning on selling online, Amazon
is always an option. And if you plan on
making large-quantity products and selling them to stores or restaurants,
you'll need to find buyers through distributors and brokers.
Make an Online Store
You might not have millions of
website visitors to start generating income right away; it does take time and
effort. But don’t be afraid to start small – if you can only manage an Etsy shop,
for now, that’s great! Once you get used to everything, you can expand your
online store into an eCommerce empire.
Use Online Tools Like Instagram to Market Yourself
Instagram is one of your best friends when it comes to getting your business in front of
new customers. Posting quality photos and videos regularly to your Instagram
account will help build awareness, generate interest in your products, and
attract new followers. Posting often will drive followers to your online store.
And don’t forget about hashtags; they make it easier for people looking for
certain products or services (i.e., homesteaders) to find you on Instagram.
Choosing a Business Structure
Before figuring out how to
start a business from scratch, you’ll need to choose what type of entity you'll
form. There are four main types of structures: sole proprietorship,
partnership, corporation, and limited liability company (LLC). If your goal is
to quit your day job and work your land full-time, then it makes sense to go
with a corporation or an
LLC; both offer benefits when it comes to taxes and liability concerns. Keep in
mind, a corporation may be better if you plan to bring on investors because of
the easy transferability of ownership shares.
Using a business formation
service is typically cheaper than going through a lawyer, and you can even file
the paperwork yourself to save even more. States have different requirements
when forming a business, so check with your state’s business registration office before going ahead.
Hard Work and Determination
There are many ways to go
about starting a business. However, no one method works for everyone. Just know
that to start your own business, you have to be willing to work hard and have
Carrie Spencer created The Spencers Adventures to share her family’s
homesteading adventures. On the site, she shares tips on living
self-sufficiently, fruit and vegetable gardening, parenting, conservation, and
more. Their goal is to live as self-sufficiently and
environmentally-consciously as possible.