Is Worm Farming Profitable? Part 3(Click for Part 1; Part 2)
In my series on the question:,"Can I make money worm farming?" Is worm farming a profitable business?", this post deals with #3 on our Successful Business Basics Check-off List:
- Keep costs low
At first, more money is probably going out than is coming in. As we discussed in Part 2, you are holding onto your worms for breeding, therefore sales may be negligible. (Good news! I'll discuss a way to start making money right away in an upcoming post.) So, to be successful in the worm farming business (or any business, for that matter), it is vitally important to keep your costs and expenses down as much as possible.
Tips on Keeping Your Worm Business Costs Down
Below are some tips on keeping your worm farm business expenses low:
- Purchase items and equipment for your worm farm and office at wholesale, not retail, when possible. (Hint: Get a sales tax number. I'll show you how. You'll need one anyway to make sales.)
- Always buy used and shop for the best prices
- Always ask yourself when considering a purchase: "Can I do without this so-and-so or such-and-such for now, or do I have something on hand to 'make do' until later?"
Successful Worm Business Resources:
Get off to a good start with your worm farming business. Find other how-to's and troubleshooting tips in my Worm Farm Manual: A Step-By-Step Guide To Raising Earthworms.
Other Worm Resources:
Red Worms: Grow the premier composting earthworm
European Nightcrawlers: One tough fishing worm. You could be the exclusive source in your area.
Combo Worms: Order red worms and European nightcrawlers together and save on shipping.
Worm Farm Manual: Order today and get started growing earthworms.