Homesteading for Fun and Profit??

[NC_Homestead]

Credit to Muleman's "All In" thread as the inspiration for this post. This is a question that goes out to all those that moved on from the rat race, but still needed to bring in money from your homestead to make ends meet. What have you done on your homestead to generate income that worked well for you? Were you able to make up your old income? What would you suggest for newbies starting out, what would you recommend staying away from. Keep in mind I am thinking a small homestead like 3-10 acres, not a commercial farm setup...

[FarmboyBill]

Stay in town lol

Theres a rule. The smaller the acreage, THE HARDER YOU WORK. The harder you work, the less fun it is, tho making decent wages from it (IF ONE CAN) can compensate for loss of fun.

[Alice In TX/MO]

In general, no. Unless you have an incredible niche market for something unique, it is VERY difficult to make a living on a small holding.

[NC_Homestead]

Thanks Farmboy and Alice, something to keep in mind. Not making any plans to quit my day job just yet...I figured for cows and chickens, or crops of any kind and the like, you would need more acreage for them to pay their way. Sure you might be able to offset some of the cost, but was not sure about turning profits. Although I was not sure about something smaller like bees or something what kind of niche market are open. I recall reading a thread a while back about people not having good luck with side tractor work.

[simi-steading]

I had to laugh.. you might have fun, but there's sure not gonna be a profit.

No way could I ever make the pay I make now with a real job.. If I was to start my own business on a homestead and make what I make now, I'd have to sell shine by the tanker truck load, and weed by the ton... but since neither of those are legal...

That's all fine by me... I found out money sure don't buy you happiness.... unless you're buying a farm in the country that will more than likely leave you pretty broke..

[Muleman]

- Niche market is the important part.
- Being smart is Important.
- Being debt free, very important.
- Being happy with a much smaller monetary income also important.
- Establishing the needed infrastructure, before giving up an outside income.
Lets look at a few things. A single family farm will NEVER compete in the commodity market. A small specialty niche market is the only way, and yes there are limitations to just how big that market will be. You are not going to build a Walmart model selling specialty free range eggs or the few other small quantity products that a small farm is capable of. Having said that, you can create some income.
Being smart is very important. What I mean is, as a smart person gets older they quickly understand that their physical attributes will continue to fade away with time. Therefore, it is important to gain knowledge and skill that is valuable. When you get older and can no longer perform manual labor, you should have spent your time investing in yourself, by learning valuable skills and acquiring knowledge that people are wiling to pay for. Example; a mechanic may turn wrenches when he is young, but when he is old he should have gained the knowledge to get paid to tell others how to do it, and what wrench they need to turn.
Being debt free. This is the main problem I believe people have in retiring today. Listen closely. When your income decreases, so must your lifestyle. Yes when you are working you buy a new car every other year to go to work. You buy nice clothes to wear to that office job. You buy a fancy Superman lunch box to take your lunch in, or eat at Apple bee's everyday. All very expensive things. When you are retiring or living on a small farm income, you cannot maintain that same lifestyle and spending habits. Purchase a new dependable car shortly before the transition and make it last. Visit thrift stores to buy cloths not the name brand suit places. Sell that Superman lunchbox on ebay, you don't need it!! You are eating at home. Apple Bee's everyday?? Forget it, this is your monthly night out now, not your everyday kitchen.
Yes, You say, But I do not want to give up all of those things. I still want a new car. I still want to be able to go out and eat at fancy restaurants. I still want to go shopping for new cars. I still want to build my 2 story dream house. Then admit it!! You are not ready to transition to farm life or retirement. Until you can be satisfied with the different lifestyle you may never be. Farming is not a stress free life, it is just different stresses, that some are more comfortable with than others.
A personal note:
Generalizations are great, but what does all that mean. Well, here is what I did and am doing. I established a small business that is in demand and used my leisure time to Work to build a client base, BEFORE I need the income. This is important, no business just grows into a thriving business overnight. You want to retire to your farm in 5 years? Start building other income sources NOW!!! Invest in infrastructure you will need NOW. You can not afford to buy a $25,000.00 tractor selling goats or sheep or produce or whatever. However, if you paid for it with your Town job, you can maintain it and use it to make a profit. You can not build a $10,000.00 greenhouse selling veggies. But if you build it with your Town job and it is paid for, you can maintain it, while creating an income. Last, but not least. Diversify. You need a diverse skill set, so you can always have a income, as most farm incomes are somewhat seasonal. Farm during the summer, operate a welding and repair shop in the winter? Farm during the summer and give classes on how to build space ships during the winter. The idea is to have the knowledge people are willing to pay for, along with the manual labor of farming. BTW, I always wanted a spaceship of my own, so I might sign up and pay for that class myself.

[grandma12703]

Hmmm....I have a different take on so much of what is being said. Farming in hard work no doubt but if you love what you are doing it is also fun. We moved to Missouri and back the country several years ago. DH got a job making 1/2 of what he had been making but allowing more time together. We started working on our place. I decided I wanted to be doing more so I also got a job again working as an office manager. All I did is think about all the things I could be doing on the farm. Oh and yea I SAT and thought about all the things I could be doing on the farm. I liked my job but I loved my farm. Before we knew it we were back to eating every meal out because we left at 4:30 am and back at 7:00 pm. We had chores to do and much more so no time to fix a meal. We were tired from work and by 8pm we were ready to come in and relax....too tired to play dominoes or cards so of course we needed our cable back.

Before we knew it we were right back to what we left. Whoa! We put the brakes on. DH decided to take a job back with his previous profession and me to stay home and work on our dream place. Well the job required moving so we are where we are. We will not buy again until we are fully retired but we are able to get our livestock numbers where we want them, buy homesteading equipment we will need, and plan. The three years I spent back in the office did my health no good. I became sedintary and a little lazy. I have had numerous health issues and I am working through them literally. Doctor says I am doing good and the farm work is helping. Well...duh! I climb fences, load and unload feed and hay, and simply walk everywhere on the farm.

We did away with cable again never to get it again. We have so much more time to "enjoy" each others company. The washer game and bochi ball are really fun with your Dh. We DO NOT eat out unless absolutely a necessity! We will use wood for heat again this coming winter and some solar electricity for the barn and chicken house.

I think it depends a lot on what "making it" means to you. A true farmer is up at dawn and works on the farm until the sun goes down. He/She sleeps well because of a good day's work. I also believe a true farmer knows when he/she needs the extra income of a "town" job. There are a lot of times that I go into a farm supply store and wish to goodness the folks working were farmers so they knew what the heck I was talking about. Anyway my two cents worth.

[NC_Homestead]

Grandma, thanks for the comments as well, that really does strike a chord. I am coming to the realization that my "town job" is just not sustainable for me long term. I suffer from OCD that leads to anxiety and panic attacks, not to mention the whole sedentary thing. Overall I need to make a shift to a different type of lifestyle. Don't need the money I bring in now, but it is nice sometime, will definetly help out with getting the infrastructure in place. The wife has a city job she loves and that could get us by, just looking to contribute a little more to the effort monetarily when the time comes.

[katlupe]

I make a living from my business online. But our expenses are much less than most people. So even though I don't make a huge income, it is enough for us, just the two of us here. Our homestead is just an acre, but enough for us to do what we want.

[simi-steading]

What a great post Grandma... I get exactly what you describe and have been there too..

My first wife and I bought a place with 3 acres and fruit and veggies all over it... but we both worked city jobs... WE'd come home after a full day, and just didn't have it in us to get much done... Weekends was it for farming time... Had a heck of a dream, but work got in the way of it..

Once my wife and I get moved over the next couple months, my wife wants to get a full time job with good bennies to cover us both with insurance (like with the state if possible), and have me stay home and take care of the place, or get a part time job that allows time to take care of the land and animals..

I know I'm gonna love it, but it will be so strange not sitting in someone else's building telling me what they want me to do for them...

I've got some ideas of how we could make some spare cash with me being at home, and I do have a lot of mechanical guy kinda skills, so I can always find side work t do for people if nothing else..

We don't want to get caught in the trap of no time to follow a dream just because of money.... It will be interesting to learn to live on a lot less money again... I think though, it makes a person get creative, and actually improve their self learning new skills doing what you need to do to get the bills paid..

OH, and at our TS, it seems most of them are farmers, or have lived in the deep country woods most all their lives. So far they've always known about what I was asking..

[mistletoad]

We have made a living from our homestead for the past 6 or 7 years (I can't remember exactly which year dh quit his outside job). We farm and it is hard work, but we have a mortgage to pay and we prefer paying it this way. I don't really have any advice or great insight for you, but It is possible and I'm sure we aren't all that special. Oh yes, I do have advise, always have a backup plan and a fallback position.

[Patchouli]

We have lived 100% off our income here on our small farm too. You really just need three things: be debt free, not need a whole lot in the way of stuff and have an established farm income before you quit your job. In our case it was selling through Farmer's markets. We had been selling for a decade before we made the leap. You have to have a good handle on your expenses, your potential income and a nice nest egg. If you are just looking to supplement your wife's income you should be able to do that with ease once you get things up and going.

People around us do all sorts of stuff to generate income. Firewood, baking, catering, Ebay, growing fruits and veg, selling eggs, chicken or rabbit meat. Then crafts they sell on Etsy, artwork, sewing, childcare. Do you have a hobby you can turn into an income source?