How to Turn Your Land into a Business Opportunity
Whether you own a lot of extra property or just an empty lot, there’s plenty you can do with some excess land. The one thing you shouldn’t do is leave it to sit. If you have land, you should find ways for it to make you some extra money.
Storage Units
There will always be people in need of self-storage units. This is because they have many uses. People can store extra belongings, furniture, decorations, and appliances. Some storage units also allow them to store boats and other vehicles they can’t accommodate on their property. By building storage units on your land, you can accommodate all of these needs. You should start out by determining the need for storage facilities in your area. Do plenty of market research to determine whether or not you will actually receive any business. As a part of this research, see what other storage units are in the area and if new ones are being built. It is also helpful to evaluate if you are in a good location. Being by a busy road can help you attract more business. You will also need to determine the size and scope of your storage units.
Building Housing
Many people, especially in the younger generations, are choosing to rent homes over buying. You can take advantage of this by building housing on your property that you can rent out. Renting out property is a great way to make a passive income and it can put your extra land to work. On your land, you can create many types of housing including apartments, town houses, and condos. Of course, you can also create a build to rent community. These communities consist of homes that are built specifically to be rented and they are all managed by one renting company. Owning such a community will allow you to regularly collect rent from a variety of properties. Current trends are leading to more people renting and the demand for rental properties will not go away any time soon.
Raise Animals
Raising animals on your property is a great way to make money. The animals you raise depend on the size of your property, but each have their own benefits. For smaller properties, you can consider raising chickens or ducks. Both of these birds can be used for both eggs and meat. Chickens will require a coop and ducks will need a fenced in area and a small structure for roosting. Larger properties can provide plenty of room for goats or sheep. Goats can be used for their milk. Sheep are more often used for their wool, but they also produce milk that is popularly used in soap. If you have a lot of land, you can raise cows which can produce meat as well as milk. Before raising any animals, you should do plenty of research. This research includes understanding maintenance for caring for these animals such as what they eat and how much land they need to live on. With animals, you also have the option to have a petting zoo on your property which can provide another form of income. (Note here needs to be said – before jumping in on this or any suggestion, check the local and state restrictions, laws and health and safety rules)
Start a Farm
With enough land, you have the potential to start a farm. A farm can produce food you can then sell for a profit. When starting a farm, you should first identify your niche as a farmer. You can focus on vegetables, wheat, corn, berries, etc. Having a niche will help you plan out your farm. For your farm, you will also need plenty of equipment such as a tractor. You also want to get quality equipment with features that will make things easier for you and protect you. When operating a tractor, shade canopies protect your skin from the sun. Next, you need to make a plan to market and sell your produce. Your farm can also provide you with income after the harvest. For example, if you grow corn then you can make a corn maze for the fall.
Open an Event Venue
People are often in need of venues for their events. These events can include weddings, graduation parties, anniversary celebrations, corporate parties, and more. You can build a venue on your property to provide for the needs of various celebrations. With your property, you can simply provide the venue, or you can also partner with a caterer and provide for other needs as well. The possibilities are endless.
Create an Athletic Field
Local sports teams and school sport teams may be in need of a place to practice or hold games and matches. Building an athletic field on your property can provide for a community need and give you a way to make some extra income. Additionally, you can build an athletic field and open it up to the community for recreation. You can charge fees for use and open your field to people with reservations. An athletic field also opens up the possibility of other businesses such as a concession stand. If you do create an athletic field, just make sure you understand field maintenance so you can provide a quality experience to customers.
Start an Orchard or Vineyard
Having an orchard or vineyard on your property provides many of the same benefits of a farm. However, instead of simply selling the food you produce, you can make an additional income by inviting people to your property. Many people love going to orchards to pick their own fruit and enjoy many other wonderful experiences. For example, people will go apple picking in the fall. With a vineyard, you can hold wine tastings. You can make money for selling the food and you can charge people for additional experiences.
Open a Paintball Range
There are many types of property where you can sell products, but you can also start a business that focuses on experiences. You can set up a paintball range on your property. All you need to do is purchase some equipment, including the paint ball guns, and then create some fun obstacles. In addition to paint ball, you can consider setting up a shooting range for archery or you can even create a general obstacle course.
Having open land provides you with many opportunities for a new business. You can focus on making a passive income, selling products, or opening up your land for regular use. All of these options are a great way to make money off your land.
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