It might not look like much, but an empty plot of land is brimming with potential business opportunities. Whether you’re looking to invest in vacant land, or if you already own a piece but don’t know what to do with it, these interesting business ideas for your empty lot are sure to give you back your investment money in no time.
If you own a piece of land with fertile ground, you can set up a produce farm and sell your harvest to food retailers, restaurants, or at farmers markets. You might need to apply for AG loans which can help you acquire all the necessary equipment and materials to get started. If you’re not interested in agriculture yourself, you can rent out plots of land to individuals or groups of people who are interested in gardening or starting their own produce farms.
Your vacant plot can be turned into a profitable parking lot, especially if you’re located near a mall or a local attraction. If your land is located in a more remote area, then a more appropriate idea would be to open an RV or mobile home campground where people can pay a fee to park their trailers there for a few days or pay rent if they intend to live there for an extended period.
Are you an aspiring sommelier or simply a wine enthusiast? You might want to turn your vacant land into a vineyard then. This is an interesting business opportunity, particularly if you’re passionate about the field, but it’s also one that requires a big financial investment and tons of research and planning. If you’ve got the funds to spare, and if it’s something you’ve always been interested in, then it could just be the best opportunity for you.
Sustainable energy source
As the effects of climate change become increasingly intense and evident, more people are looking to sustainable energy sources to power their homes and businesses. By setting up solar panels or wind turbines in your vacant plot, you could be working with businesses, households, local communities, schools, and energy providers to provide wind and solar energy to the public. You’ll be turning a profit, while also doing your part to help the environment.
Event and activity rentals
There are plenty of people who are looking to start their own business and are also in need of a plot of raw land. If you aren’t interested in setting up your own business, then you might want to rent your plot of land out to those who are. Common activities that need a large piece of vacant land like yours include:
- Summer camps
- Outdoor shooting
- Camping or glamping
- Corporate retreats
- Livestock farming or grazing land
If your plot of land is located near a highly populated area or a road, you can look into constructing an outdoor advertising structure which individuals or businesses can rent out to advertise their products and services.
Investing in vacant land can be incredibly lucrative if you know exactly what to do with it. These interesting business ideas are a good place to start.