The first question that most people ask when they are deciding whether or not they should get into vertical farming is if it is profitable. Unfortunately, the answer is not easy because there are so many factors going into whether or not a person can make money growing a certain type of crop, or crops, vertically.
Experience
One of the first questions a person should ask themselves is if they have any experience growing things. It does not even have to be through a method like hydroponics or aquaponics. Any type of growing experience will be helpful in the future. Obviously, having a very specific growing experience with indoor farming would be more helpful but those people who have growing experience from other plants for crops will have a leg up. They will generally know what they are looking for when they are trying to throw something vertically. They also have a better idea of the overall costs and what they can spend on growing crops. In fact, it would be extremely helpful if they have experience selling produce before they got here. Experience gives them a better idea of what they can spend when they try to sell the product at a farmers market or whatever platform they choose to use as their sales platform.
The next thing to think about is the user’s ability to budget out based on what they think they can get for what they are growing. Again, it helps to have experience selling the crop that they are going to grow. If you are going to a farmers market that it helps to know what kind of buyers market you are looking at and what they are willing to spend on products like yours. You might even be helpful to go to a farmers market and to look at how someone is doing who sells something similar to yours. A little market research never hurt anyone. You could, potentially, jump out of the market before you lose money which is always a good thing.
Finally, you have to consider the marketing aspect of the job. You are not just a person who grows a crop. You are also the marketer. Your business needs you to wear multiple hats in salesperson and marketer are just two of those hats. However, they might be some of the most important hats you wear in your business. Ultimately, your ability to sales and market determines your profitability in the game. The truth is, you already know that there is money to be made in vertical farming. Some people are growing their crops and sell them at the farmers market. Some people have gone very high-tech and have investors who are selling to grocery stores and restaurants.
One of the final components that you have to think about is the logistics of the growing.Do you have the right equipment that will allow you to scale up once you are ready to have a bigger business? Do you understand the supplementation that needs to be there to grow your crops the right way and without nutrient issues? Again, your experience will help a lot here if you have any.
The answer to the question is vertical farming profitable depends on you and your skillset. It is not an easy question to be answered over the Internet but what we can tell you is that a lot of factors go into whether or not you can make it in this field. You should not overlook the heavy sales and marketing aspect of this business unless you are approaching it from a hobby standpoint. If you are smart you will have an exit strategy planned if you are not 100% certain about your skill level as it pertains to growing, marketing, and selling your product. Logistics is another part you need to think about before you start. You will need to think about the how and why to grow your product.
If you think you can make this all work then click here to take a look at our mobile grow racks. They are an excellent way to scale up your business when you are ready.
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