Do you dream of owning your own ranch or farmland someday? Or perhaps you already possess a farm or unused land. If you want your vacant property to turn a profit, there are plenty of opportunities that will allow you to do so – as long as you put in the effort.
Consider the possibility of a small backyard operation or an ambitious venture. Below are just some entrepreneurial opportunities you can consider:
- Community garden
If your property is located in a bustling metropolis, you might want to consider turning your land into a community garden. In this business model, families or community orgs pitch in to rent a portion of the land from you and use it to plant fruit, veg, flowers, or whatever they wish. Not only will you generate rental income, you will also help communities become more self sufficient when it comes to food.
- Storage space or warehouse
A warehouse facility is a great business idea that requires a relatively small capital. People need a place to park their RVs or put their boats in storage. If your property is surrounded by farms and ranches, you can construct grain silos or storage facilities for crops or farm equipment. Even better, a warehouse requires minimal maintenance so overhead costs are also low.
- Raise livestock
Cattle ranching is a $100-billion dollar industry in the United States, more than the entire economies of countries like Iceland, Ecuador, and Ukraine. The big bucks are powered by great appetite, as Americans eat about 25 billion pounds of beef a year. And this is just the beef industry; you can raise any number of livestock – from pork to lamb, chickens to goats. While it’s true that ranching requires a higher startup cost, you can start small and scale up as your business prospers. Is it any wonder why buyers look for ranch land property for sale in North Texas?
- Grow crops
On the other hand, you can also grow vegetables, fruits, and other crops on your land. Agriculture can be quite lucrative, provided you choose in-demand crops that are suited to the climate. In Texas, for example, cotton accounts for 9% of the state’s agricultural receipts. Hay is grown and sold to ranchers as feed for livestock. Aside from being a food crop, corn is also used to create ethanol, which is blended with gasoline.
- Bed and breakfast
Many people dream of living a farm or ranch lifestyle, so why not convert your farmhouse into a bed and breakfast? Not only will people get to stay in an authentic farm, they can also experience a day in the life of a farmer. Hence, you can design immersive activities where people can help with farm work, such as milking the cows, harvesting crops, or riding a tractor. Furthermore, the extra income you make from your B&B can help with your house payments or your farm’s operating costs.
Believe it or not, Texas produces some of the finest vintages in the country. And if you have a deep passion for wine, starting a vineyard allows you to create your own signature bottle – and for others to enjoy. Producing and selling wine isn’t the only way to generate income; you can also set up wine-tasting tours or a restaurant to make your vineyard a local attraction as well. Needless to say, a vineyard is a long-term investment but the fruits of your labor will certainly be sweet.
- Plant nursery
While some farms do grow crops from seeds, many also buy seedlings and saplings from plant nurseries. The key, though, is to choose plants that are in high demand and can be container-grown to maximize the space of your land. You can grow a wide variety of crops and plants like herbs, vegetables, fruit, turf grass, and even trees. Many successful plant nurseries service clients outside of Texas and provide seedlings/saplings to large-scale clients such as landscapers, farms, and other nurseries.
As you can see, a plot of land isn’t just an empty space—it’s a business opportunity waiting to happen. With hard work and a little luck, your land can become one of the best investments you make.
If you’re looking for land in North Texas, get in touch with one of the most trusted Texas ranch brokers—Ranch Partners and Clark Real Estate Group. We know ranch land like the back of our hand as we grew up and now live in our own ranches. Contact our team of experts by calling 254.433.2561 or sending an email to jeffclarktexas(at)gmail(dotted)com.