My boyfriend and I live on a family owned and operated farm. We are in the process of starting our own hydro farm and have been seeing a lot of data saying that most hydro farms fail within the first two years. The data seems to be 2-5 years old, so I'm wondering if this is still the case. If it is, why is this so? We would both like to farm full-time, within the next two years, but the marketing side of things seems a bit overwhelming.
My goal is to sell $8000, worth of produce on a monthly basis. I know this a tall order, but I also believe it can be done. There are no farms of this type within a 100 mile radius of us, plus we are within one hour of Chicago, Rockford, DeKalb, and Centeral Illinois. I feel our marketable area is, not only extremely large, but diverse.
I would appreciate any thoughts you all have on the business side of things, marketing, and maybe to help me see where I can potentially fail as a business owner. I want to come into this with a full understanding of the risks, problems, and potential of every aspect of owning a hydro farm. Also, have any of you attempted or currently employ aquaculture? I'd like to eventually do some of that as well.
New Business
If you are ready to give 24/7 to run a successful business go for it. Thats how dreams come true. Jake ( 40 years of a successful construction business - retired now) & enjoying it.
Agreed Jake! And the work is not an issue as we have both grown up on farms and know first hand the amount of work it takes to keep everything going. We are plunging forward with this and hope to be full time by the end of next year.