• Start a Homestead Farm Business with These Strategies

    For many people, the appeal of homesteading is being able to live off the land by producing their own food and other products. What a lot of people don't realize, however, is that you can actually make a pretty decent living by monetizing your homestead farm. Starting your own homesteading business may sound like an overwhelming task, but with resources from the Mineral Point Chamber of Commerce, you can tackle this new venture with confidence. Here are some of the best strategies to use as you get started.


    Creating a Unique Brand 


    One of the best ways to set yourself apart in the world of homesteading is to create a unique brand for your farm. This goes beyond having a clever name or logo (although those things are important, too). Your brand should reflect your values and what you want your farm to represent. 


    Do you want to be known for producing the highest-quality meat? Or for being the most sustainable and eco-friendly farm in the area? Whatever it is that you want your farm to be known for, make sure that it comes across in everything you do — from the way you design your packaging to how you interact with customers. 


    Making a Sales and Marketing Strategy


    Once you have your farm up and running and establish your brand, it's time to start selling your products. If you're selling honey, produce, meat, or eggs, the first place you'll want to look is farmers markets. Not only do farmers markets allow you to sell directly to consumers, but they're also great places to network with other farmers and create buzz for your products. 


    You should also consider setting up a website or online store — such as Etsy or Amazon Handmade — where people can purchase your products from anywhere in the world. And don't forget about good old-fashioned word-of-mouth marketing. Make sure everyone knows about your farm and what you're selling! 


    Managing Your Company 


    If you're used to running a small hobby farm, transitioning to a commercial operation can be a bit of a challenge. One of the most crucial things to remember is to keep track of your finances; know how much money is coming in and going out, and ensure you're staying afloat. Fortunately, there are cost-effective accounting tools to help you along the way. 


    You’ll also want to select the appropriate legal structure for your homestead business. An LLC will provide personal liability protection and tax flexibility, among other benefits. It's also easy to set up and maintain.


    Further, it’s crucial to remain realistic with your goals and expectations. Instead of biting off more than you can chew, start small and expand gradually as you get more comfortable with running your farm as a business. And don't forget to take care of yourself both physically and mentally — this is a demanding lifestyle, so be sure to foster your well-being as you tend to your farm and business!


    Work Anywhere with the Help of PDFs


    Working with digital documents simplifies just about any business type, but especially those run by homesteaders, who spend much of their time outside the four corners of a traditional office. Using PDFs to manage your business gives you the opportunity to conduct your business any time, anywhere with a tablet device or smartphone. Once your documents are uploaded as PDFs, use Adobe Acrobat’s PDF editing tools to make any changes you need to your documents. You can also use them to create a PDF from scratch. For example, you may need to edit an invoice for a client’s purchase order, add or remove pages to a contract with a business partner, or create a spreadsheet documenting a new harvesting schedule.


    Wrapping Up


    Making money from your homestead doesn’t have to be overwhelming. Anyone can turn their hobby farm into a profitable business venture with careful planning and execution. Whether you’re growing greens, bottling honey, or butchering meat, don’t procrastinate on your potential. Create a stellar brand, determine how to promote your business, and keep these other tips in mind as you start. You’ll begin reaping the rewards of all your hard work in no time.

    No matter what your business goals are, the Mineral Point Chamber of Commerce can help you achieve them. Take a look at our resources for small business owners.