All businesses, no matter how small in scale or how non-traditional, come with some initial costs to be considered. You can look at ways of cutting those costs, but first, you have to understand the actual resources that you need to have in order to start a business. Here, we’re going to look at the costs of starting a homesteading business, one that is often considered far removed from the traditional business set-up.
The property itself
If you don’t already have a property that’s perfect for homesteading, then you are going to want to make sure that you have enough land to support the gardens as well as any animals that you aim to get products from. 20 acres would be considered a relatively small homesteading business. You may also have to invest in improvements such as your own septic and well to be able to supply enough water for the produce and animals.
Animal upkeep
Whether it’s meat, eggs, dairy, or otherwise, supporting animals is not cheap. For one, you need to supply housing such as barns and henhouses. These costs can be set off by DIY to some degree, but you still need to pay for tools and materials in that case. Then there is the feed to consider, whether it’s hay bales, seed, or other types of food. You need to work out which animals and how many you plan on supporting and both the initial and annual costs associated with those animals. Needless to say, this can vary greatly from homestead to homestead.
Farming equipment
Even the most basic homesteading operation will require basic tools, such as weed eaters, shovels, forks, wheelbarrows, fencing, and so on. If you are running a bigger homesteading operation, then you might have to look at hiring or buying a tractor to run the property properly. If it’s an older tractor, then you might need to look at investing in repairs, as well as purchasing a variety of implements, like a plow, rake, planter, and so on. You don’t want to skimp on equipment too much, either, or you can end up having to repay to replace it sooner rather than later.
The costs of growing
Aside from animal products, most homesteading businesses make their money from growing vegetables, fruit, and herbs from their garden. However, gardening isn’t as simple as putting something in the ground, watering it, and waiting for it to grow. The costs of starting a vegetable garden will typically include buying fertilizer, seed, lime, irrigation systems, fencing, as well as putting money aside for extra water usage. You may also have to consider paying for pest and weed control, as well.
As organic as your business is, the only green it’s really going to need is the cash to buy everything needed to get it up and running. Homesteading can become self-sustaining with a little hard work and luck but you want to make sure you have the funding to get it up and running, first.