You want the beautiful, simple life with a mountain landscape on the horizon line seen from your kitchen window. You want the delicious, organic produce grown from your backyard adorning china plates along with mismatched silverware and colorful flowers decorating the tables of your home. You want the freedom to roam the hills and care for animals. But you’re not sure how to answer the big question that allows you to get there: how to make money on a homestead.
How to Make Money on a Homestead
Here’s the simple answer: you make money by selling products and services. You can create products and services based on your skills and resources. But you have to keep in mind the age old economic philosophy known as supply and demand. Scraping up on some good business skills and knowledge will help set you up for success when trying to figure out what to prioritize based on what your local community is interested in.
There are two essential lenses you need to view income through when understanding how to make money on a homestead: passive income and multiple revenue streams.
Passive Income
Passive income is income that you earn with minimal labor often based on initial efforts up front. This is most often seen with services. An example could be creating an online course that you put effort into initially, but is set up to accept purchases and provide you with passive income over time. Keep passive income in mind when considering products and services for how to make money on a homestead. It will help you work smarter not harder.
Multiple Revenue Streams
Multiple revenue streams is basically just not putting all of your eggs in one basket (literally). Don’t rely on selling veggies at the farmer’s market as your only source of income. Diversify and utilize as many of your skills and resources to create products and services that can bring you money.
KEEP IN MIND
Money is just a type of resource. Take care of your family first with your resources before selling them. Don't sell your farm fresh eggs and then find yourself buying eggs from the grocery store.
Evaluating Your Skills and Resources
You might already have a lot of great skills in your tool belt and that’s an awesome start! Make a list of what those are. Similarly, make a list of your resources; this can be basic and ground level. Especially if you have land, consider all the possibilities your land has based on its resources: acreage, trees, water, grass, etc. Now, compare those two and see where there might be some overlap and start there. If you have a lot of a resource, but not the skills that could allow you to be profitable consider learning those skills.
Homesteading Product Ideas to Sell
These products should be ones you’ve created using your skills and resources.
- Fruits and Vegetables
- Christmas Trees
- Jack O’ Lantern pumpkins
- Seasonal gourds
- Seeds
- Cut Flowers
- Potted flower arrangements
- Plant Starts
- Compost
- Bunny Poop
- Straw or Hay
- Dried Herbs
- Herbal Teas
- Firewood
- Lumber
- Mushrooms
- Microgreens
- Baked Goods
- Maple Syrup
- Honey from Bees
- Dehydrated Goods
- Vinegars
- Oils
- Tinctures
- Jams and Jellies
- Dairy Products
- Cheese
- Butter
- Cream
- Milk
- Livestock (consider heritage or thoroughbreds)
- Bees
- Worms (for bait, vermicomposting, and garden additions)
- Dogs
- Ducks
- Chickens
- Hatchling Eggs
- Chicks
- Cows
- Pigs
- Goats
- Sheep
- Rabbits
- Livestock for Consumption
- Eggs
- Meat Ducks
- Meat Chickens
- Cows
- Pigs
- Goats
- Sheep
- Rabbits
- Candles
- Soaps
- Luffa Sponges
- Salves
- Wool
- Fibers
- Tanned hides
- Quilts
- Jewelry
- Pottery
- Rabbit Hutches
Homesteading Service Ideas
- Rent bees out for pollination
- Butchering
- Custom furniture
- Custom birdhouses
- Custom bird feeders
- Custom green houses
- Carpentry
- Solar Power Consulting
- Rent out equipment
- Making and repairing clothing
- Teach people how to homestead (or specific skills) with blogs, videos, books, community classes and online courses
- Board and kennel animals
- Rent animals for breeding
- Rent your land
- Start a bed and breakfast
- Start a campground
- Storage Solutions
- Rent your sawmill
- U-pick orchards
How to Sell
Research Your Competition
Research other people and businesses in the area to see what the competition is and what they’re doing to see how you should compete. Figure out a way to set yourself apart from the competition.
Understand the Market
Make sure there’s enough interest in the community for what you’re selling or consider selling online. Figure out what people in your area want and need by reading community forums and talking to locals.
Spread the Word
Utilize social media, online marketplaces, websites, farmer’s markets, referrals and any other creative ways to get the word out and market what you’re selling.
Barter + Trade
With money being a resource that’s just a medium of exchange, don’t forget that barter and trade is always an option too. You can always barter and trade your goods and services for someone else’s if you both have something each other can benefit from.
Want to learn more about how to make money on a homestead? Join our Facebook community where you can learn and connect with others who are interested in and pursuing homesteading.
