Sorting Through the Noise: Create Extra Revenue with the Resources You Already Have
Question of the Week: How will you continue to learn in 2024?
Being a continuous learner is something I am passionate about to say the least. This year, I am being intentional about showing up to in-person events and being more consistent about listening to podcasts when possible.
How will you continue to learn in 2024? Will you attend events, listen to podcasts, read or join a community to keep you on your toes?
Create Extra Revenue with the Resources You Already Have
If you're feeling frustrated by the seasonal nature of your income as a cattle producer, farmer, or landowner, struggling to make ends meet during the off-season, then you are not alone! Perhaps you've been relying on traditional methods such as selling livestock or crops, only to find that your income fluctuates drastically throughout the year, leaving you financially strained. Instead of achieving a consistent and stable year-round income, you may find yourself constantly worrying about how to cover expenses during lean months. It's time to explore new opportunities to generate year-round income through LandTrust.
Nic De Castro is the founder of LandTrust, a land-sharing marketplace that has a similar business model to VRBO or AirBNB. De Castro grew up being an avid recreationist himself who was willing to pay for his time spent on private land but got tired of traditional door-knocking to request permission to hunt or fish on private property. “I wanted to find something that was a little bit more mutually beneficial because let's be honest, knocking on a door and just asking landowners to go out and hunt or fish for free is kind of one-sided. Some landowners say yes to that and that is totally fine, but I was looking for an easier way to do it and was willing to pay for the opportunity,” said De Castro. So, he went to work and created LandTrust to serve as an online platform that makes it easy for recreationists to connect with landowners and for landowners to get paid for the time other people are spending on their land. As LandTrust continues to expand, it is proving to be mutually beneficial for all parties involved and rural communities.
Impact on Landowners
The main impact LandTrust is having on landowners is the creation of revenue that wasn’t originally there. Alternative revenue streams are important and valuable from a risk management standpoint for farmers and ranchers. “We want to help create additional income sources for ranchers that are complimentary to their existing operations. We aren’t asking people to change their practices. We are helping them leverage an asset that they already have and on the upper end we have partners bringing in an additional $60,000-80,000 per year of pure profit,” said De Castro. LandTrust helps cattle producers create more financial freedom and opens up opportunities for the next generation of cattle producers to return back to the operation and carry on the legacy.
Impact on Rural Communities
The push to shop small and locally continues to grow and shopping rural is a buzzing trend too because it’s what helps rural communities and economies thrive. LandTrust is creating opportunities for landowners to help their local economies too. “By becoming a LandTrust partner and listing with us. Not only are you generating income for your operation, but also for your community. When people come to your place, they're going to stop and get gas, they're going to go to the bar, the diner, they're going to be putting those their dollars into your community,” said De Castro. If you live in an area where there are already a lot of hunters, chances are you see a shift in business with the hunting seasons. However, LandTrust partners can make an impact year-round because LandTrust isn’t just for hunters. Landowners can create listings for year-round activities from trail rides to hunting or star gazing to fishing. Agritourism is a growing opportunity as well and more important than ever when you think about how far-removed Americans are from where their food comes from and how animals and natural resources are cared for by farmers and ranchers.
How to Get Involved
If landowners are interested in learning more or signing up, the process is simple. You can create a free profile .landtrust.com/a/cattleconvos and the Landowner Success Team will reach out to answer any questions you have, as well as take care of building out a draft listing based on your specifications and goals. Or simply give them a call at 406-709-8450 to start the same process. Once the listing is up, landowners simply manage requests from recreationists and enjoy the new revenue source. This can all be managed from a phone too! There’s no onboarding fee and minimal work is required from the landowner. Everything is designed to be simple, and the partnership allows landowners to maintain 100% control of their property rights and who is using their land. As far as legalities go, LandTrust requires all potential guests to go through ID Verification, agree to hold Landowners harmless and provide multiple layers of liability coverage for their partners at no cost.
As you work towards strengthening your operation in terms of profitability in 2024 and managing risk, keep your mind open to how you can leverage the assets you already have available whether you are taking the project on solo or partnering with an outside company. Learn more here.
