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
Farm Equipment Broker
Do you know the ins and outs of tractors? If so, a farm equipment broker job may be right for you.
Lawn Sprinkler Systems
Keep lawn their greenest with a sprinkler business.
Corsages
Proms and weddings alone could supply you with the customer base you need to get this business off the ground and blooming.
More from Business Ideas
He Had a Side Hustle Driving for Uber When a Passenger Gave Him $100,000 — Now His Company Is On Track to Solve a Billion-Dollar Problem
Joshua Britton is the founder and CEO of Debut, a biotechnology company that's doing things differently.
When This Entrepreneur Couldn't Decide What to Name His Business, He Started a $2,000-a-Month Side Hustle to Help — Now It Earns Over $10 Million a Year
Darpan Munjal, founder and CEO of AI-powered startup ecosystem Atom, offered $50 to anyone who could help with the creativity block.
3 Secrets to Starting a Small Business Side Hustle That Gives Your Day Job a Run for Its Money, According to People Who Did Just That — and Made Millions
Almost anyone can start a side hustle — but only those ready to level up can use it to out-earn their 9-5s.