Farm Equipment Broker
Startup Costs: $10,000 - $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? Yes
Online Operation? Yes
International connections can really pay off, especially if you're planning to start a farm equipment brokerage business. Your international connection will not only assist in the marketing of the equipment overseas but also in locating discounted farm equipment for North American purchasers. The market for good, quality used farm equipment such as tractors and hay combines is huge worldwide. Selling just one piece of equipment per week can generate business revenues of $200,000 per year and more. The key to success in this business is to build and maintain vital contacts and alliances with farm equipment dealers and other brokers of farm equipment, as well as to seek international opportunities with booming economies. The investment needed to start a business as a farm equipment broker will vary based on factors such as initial advertising budget, business location, and overall operating expenses. However, an initial investment of $25,000 to $40,000 is suitable to get the business venture set in motion. As a way to minimize startup costs, the business can initially be operated from a homebased office and market only local farm equipment to local potential purchasers. As a rule of thumb, farm equipment brokers charge a 10 percent commission of the total value of the farm equipment that was successfully sold. There are however, exceptions to the rule. The commission rate will often be higher on lower valued farm equipment, and lower on very expensive farm equipment. Keep in mind that even if a piece of equipment isn't sold, the broker is still responsible for the costs associated with attempting to market the equipment, unless a prior agreement has been established with the equipment owner, which is rarely done.
The Market
Farmers who need to lease farming equipment
Farm Equipment Broker Ideas
Tree Trimming And Removal Services
Help clients contour and control their landscapes.
Herb Gardening
With today's focus on health and gourmet food, there's no better time to start growing herbs.
Flower Arrangements
If you have an eye for color and design, create arrangements to help people celebrate everything from weddings to birthdays.
More from Business Ideas
20 Side Hustle Ideas for Summer 2024: Part One
Instead of spending money this summer, prepare now to make extra cash through the following side hustles while still enjoying your free time.
5 Ways to Avoid Unfair Business Practices While Protecting Your Business and Customers
Building your business on a firm, fair and ethical foundation helps reduce risk and protect your brand over the long haul.
55 Small Business Ideas to Start in 2024
We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.