Wednesday, July 2, 2014

Add Value for More Income

When we talk about adding value, we are talking about enhancing the original product by adding something to the product so that there is a new use and new market for the product. When this happens, the product becomes more valuable for both the consumer and seller.  For example, value can be added to corn picked from the field by creating corn relish, canned or frozen corn, shelled corn for animal feed or as an additive to livestock feed. This type of value added is in the processing.

Value can also be added by providing a service or experience to the product. This is often seen on farm tours. The farmer plants acres in sunflowers and adds an experience, i.e. a sunflower tour or a horticultural design class. In Caddo Parish the Sunflower Trail & Festival is one such example. This trail spans a 30 mile stretch though the farming communities of Dixie, Belcher and Gilliam. Acreage along the road is planted in sunflowers and some farmers allow picking of sunflowers during the festival.

That same sunflower field would also be the perfect setting for a wedding. This could lead to photography and catering opportunities. If a building structure is located on the property consider offering an overnight accommodation to the bride and groom or rent it to others.

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