Farm Business Diversification

Whether you are creating your first business plan, or diversifying your existing farm business, diversification can help to maximize your returns.. Consider how you could layer activities throughout the year and across your landbase, while keeping you (and your equipment) in action through idle periods.

Are there complementary crops you could add to your rotation? Can you extend your harvest through more of the winter months? Are there items you could produce for sale during the off-season? Would you sell more to your existing customer base if you had additional offerings? Do you have land resources that are under-utilized? How about further processing (adding value) to products you already produce? Can you use diversification to reduce risk?

Here are some resources that could help to get you thinking about diversification of your business and how to assess the feasibility of your new ideas.