Income $50,000 – $300,000
The range of income for the first year will depend upon how much land you dedicate towards farming. The average yield is about 200 bushels per acre. The herbs you chose to grow will determine the amount of income you generate. Most growers choose to grow a variety of herbs so they produce multiple times to harvest the herbs. Compare the price per pound versus the cost of growing the product in order to determine your choices.
Small-scale entrepreneurs have the best chance of competing may be in providing herbs to produce stores and through sales at Farmer’s Markets. Interest in gardening is at an all-time high with no diminishing of interest in sight, gardeners are searching for a wide variety of herbs for their cooking, landscaping, and alternative health needs. A prospective producer might consider starting a mail order business. Many home gardeners and hydroponics gardens market their herbs that way. Herb plant sales are increasing every year, and the enterprising grower who combines knowledge and service along with plant sales is will do well.
Your clients will consist of upscale restaurants, produce stands, and grocery stores. If you are able to manage it, this is one business where selling directly to the public will provide a much higher return than relying solely on a wholesale business.
Your marketing plan will vary slightly depending on your target. You will talk with the produce markets and restaurants personally and set up a delivery route that will include produce stands that don’t have local resources for fruits and vegetables. Approach local retail locations first and then work your way up to the larger retail chain stores, as your production reaches a stable yield.
Your Power Partners will consist of any business owners who have the same distribution points as you. They will include flower growers, bakers, vegetable, and fruit producers.
The conversations with these Power Partners should include your willingness to include them in your referrals as you become aware of clients that need their services. It is important you meet with these Power Partners in person the first time, and keep in touch with them weekly by email or by a phone.
This is one business, which has been very well documented, so it will be easier to start the business from scratch and do well. The amount of land you will require will depend upon how large a farm you want to start with. You may lease or purchase the land, typically be near other farming communities.
Here are a number of resources which I have come across:
Personality Type: Analytical, Amiable
Total Start Up Costs: Less than $150,000
(includes business cards, tools, a phone, seeds, land and marketing)