How Can Farmers Diversify?

Three farms build resilient revenue streams through offerings.

By Dana Benner
Updated on April 30, 2024
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by Dana Benner
Woodland Farm raises heritage livestock, grows heirloom crops, and converts used cooking oil from local restaurants into biodiesel that powers its machinery.

How can farmers diversify? Build resilient revenue streams through expanding offerings with farm stays, producing your fuel, or teaching traditional farming and craft skills long lost in today’s world.

I remember visiting local farms as a child and being amazed by the bustling activity: colorful varieties of vegetables, ducks and chickens scuttling around, and herds of roaming cattle. The farmers made a living selling produce, meat, and eggs to nearby residents (and even a few grocery stores) who appreciated what they were doing. For the most part, those days seem to be a thing of the past, at least where I live. Corporate monoculture farms have bought out many of the small-to-medium-sized farms, and agricultural vistas have been replaced by views of shopping malls, condo complexes, and golf courses. Those few small farms that have held on manage to do so by tweaking their offerings, enticing customers to stop by the farm with a variety of unique, value-added products and experiences.

How Can Farmers Diversify?

Leaning into variety over monoculture is at the heart of a diversified farm economy. At its simplest, “diversification” means, if you’ll pardon the pun, “not putting all of your eggs in one basket.” You might be familiar with the term from corporate finance – stock brokers advising their customers to “diversify their portfolios” to ride out rough times – but it’s good advice for farmers and market gardeners too. If your farm relies solely on sweet corn for income, then you’ll be in trouble the year the corn crop fails. You can diversify your income by growing multiple crops and adding livestock (and maybe a corn maze in fall), becoming more able to ride out an otherwise tough year in the process.

In the following profiles, you’ll see how diversification has allowed three farms operating in quite different markets, from Kentucky to Montana to New Hampshire, to flourish in the wake of economic shifts.

Bison and Biodiesel

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