Running and maintaining a profitable small farm isn't easy. Sure, you get to be your own boss and set your own hours (at least in theory), but this usually translates into meeting the demands of buyers and handling fluctuating market conditions-all while waking up early and going to bed late.
As a profitable small farm business idea, consider starting an events space or wedding venue that will enable couples to celebrate their wedding in an affordable fashion. You can offer some of these micro-wedding packages that entice couples on a shoestring, for instance, or rent your venue for a competitive price relative to some of the other venues in your area.
Hands-on learning is important for children, and creating an educational farm can help foster this development. Consider creating an educational farm in which you run tours, classes, and seminars on the animals and agriculture on your farm, and encourage groups to get up close and personal with life on a farm.
Bees are important-not only do they make honey, but they also pollinate many of the crops we consume on a daily basis (including ones you might be growing). With the continued bee colony collapse and a substantial decline in the number of bees, saving the bees is hugely important for our ecosystem. But this eco-friendly pursuit can also be a profitable small farm business idea, too.
Similar to SBA loans, USDA loans are furnished by banks and other lenders, but are guaranteed by the U.S. Department of Agriculture to businesses operating in a town or city with 50,000 or fewer inhabitants.
If the small farm business idea you're pursuing involves fixed assets, you might want to consider farm equipment loans. This type of loan isn't super flexible-you're only able to finance the equipment you want to buy-but can be extremely helpful for getting the capital to purchase the big-ticket items you need. You bring a quote for the gear to a lender when you apply for the loan.
This kind of loan is more accessible to newer businesses than, say, an SBA loan. And you'll need less documentation, which means you can access the capital faster.
This article originally appeared on JustBusiness, a subsidiary of NerdWallet.
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