More and more farmers are finding it hard to make a living via traditional farming. This is a result of factors including decreasing food and drink prices, increasing energy costs and the undeniable uncertainty of Brexit, and because of this, farmers are seeking to diversify their revenue streams.
There are many different routes farmers can take when it comes to diversifying: setting up a glamping or camping site, farm retail, wedding/event venues, renewable energy and tourism, and many farms open their doors to the public providing a fun day out for the family or an education visit from local schools.
The need for farmers to diversify has never felt greater. Many farmers and landowners can use their land to diversify their business while keeping their love of farming at the heart. Dartington Dairy in Devon, used their FOLK2FOLK loan to diversify their cow dairy into a goat dairy, venturing into retail and ice-cream production. Now they sell award-winning goats’ milk, kefir and ice-cream to local retailers across the country, employing six local people.
Glamping has become an increasingly popular diversification. Our customers in North Yorkshire rear Aberdeen Angus Cattle, although successful, it wasn’t bringing in enough income. Their idyllic Yorkshire location provided the opportunity to diversify into glamping where they now a run a luxury 5* glamping experience, The Private Hill, which opened its doors earlier this year.
If you’re thinking of ways to diversify your current farming business, come along to the Farm Business Innovation Show on 6th & 7th November at NEC, Birmingham where you can find free inspiration and advice on how to kick start your diversification journey. You’ll find FOLK2FOLK on stand FR750 where we’re always happy to discuss how you could fund your diversification plans. To book in a meeting with us email firstname.lastname@example.org.
You’ll also be able to hear from our Head of Farming and Rural Engagement, Ian Bell, who’ll be showcasing some of the different ways our customers have diversified. Ian will be speaking in Keynote Theatre 1 on Wednesday 6th November at 11am.
If you’re itching to discuss your ideas now, give us a call on 0333 455 1902 or find out more about our peer to peer loans.