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

Cactus Arrangements

A beautiful cactus arrangement won't leave recipients feeling prickly.

Florist

If flower arrangements are your specialty, consider being a florist.

Landscaper

Take your passion for plants to green spaces near you.

More from Business Ideas

Side Hustle

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.

Side Hustle

This Former Starbucks Employee Started a Side Hustle That's Making More Than $70,000 a Month — and He's Not Done Yet

When Tom Saar moved to New York City, he spotted a lucrative business opportunity.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.