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Today is part three in our series focusing on more money, less land, where we are brainstorming ideas to make more money off of your farm without, without adding more land.
Over the last few weeks we have focused on a variety of ways to sell more product and produce more product without adding more land.
Today we will get into the last primary concept…
Raising Prices
Specifically how can you do that?
What are the different ways that you can change what you are selling to justify a higher price?
There’s a lot of ideas in here. Some easier to implement than others.
Each with has their own costs and benefits.
As with the previous episodes, there’s a lot in this one.
Ways to make more money off of your farm without adding more land to the farm:
Raising Price…
- What are you selling? Are you selling a product into a saturated or unsaturated market?
- Price Fogging
- The price stays the same, but the unit gets smaller.
- Change The Crop That is Being Sold
- Baby versus big.
- Create a new product mix that adds value.
- Adding a product to a salad mix might up the price per pound for one component of that mix
- Sell to a Different Market stream – which would pay a higher price
- Example – switching from farmers markets to grocery stores.
- This might require increased costs in presentation and packaging.
- Change actual location of that market. Change farmers markets.
- Example – switching from farmers markets to grocery stores.
- Get certified organic.
- Might get you a premium
- Might allow you to sell in more places that you currently aren’t
- Re-brand to be the premium product.
- Change look of booth, product (small versus big crops), packaging.
- Change the name of the product. A fancier name.
- Sell product as more – fresh – a live product – live basil in a pot.
- Don’t rebrand, just clean up your story, or tell a better story, or tell the story in a different way.
- Make it limited, and sell seasonality.
- Aggregate product to become a premium CSA. a la JM.
- Raise the value of your products by adding other producers high value products.
- Need to always weight time against quality. How much extra time is worth getting slight increases in quality?
- Some effort might not be worth it. You may not recoup the cost of that effort in the price of the product.
- Effort/Quality Graph
Learn More from Curtis Stone:
Listen to The Urban Farmer audiobook