I feel silly asking, but how exactly do you explore a market? Someone sugguested White mice, how do you know what to look for to see if it is a good market. I know on the goats we are going to an auction close to here to see how it goes and talk to the man in charge of it. Other than that, what else do you do so that you don't wind up in something that puts you in a ton of debt.

-- Anna Beavers (idlewild@tds.net), February 22, 2002

Answers

Try this link: Alternative Agricultural Enterprises, http://aggie- horticulture.tamu.edu/alternatives/alternativelinks.html#m and look under the Marketing heading, there are several links from College Agricultural Extension publications that may be helpful.

-- BC (desertdweller44@yahoo.com), February 22, 2002.

Basicly you find your competition. How are they doing. Then you try to find a market for your product. Is there one in your area? If not then shipping cost come into play.

-- Gary in Ohio (gws@columbus.rr.com), February 22, 2002.

Making money on a small plot is a combination of luck, skill, oppertunitys explored, action taken. If you spend $500.00 and six months later sell for $1,000.00, you have lost money. Why, your $500.00 has been tied up, not available for use; there is up keep for whatever you bought, space has been consumed. If you buy for $.05 and sell one hour later for $.10 and can do it 20 times a day, every day, then you can make money. Put together 6 to 10 of the nickle and dime things that no one else is doing in your area. There must be a need for your products in order to sell.

Is there a hunt club in your area that needs a supply of game birds, can you raise these cheap enought to make money at it? Are there speciallity restaurants that will buy minature veggies or ethnic veggies? If there are a dozen people in your county raising chickens to sell eggs, do not join them, sell egg cartons. If there are a dozen people offering bush hog service, do not compete with them, sell replacement blades or fuel. If everybody is farming full time who is going to paint the houses? Again, if their farming where can they drop off their senior relatives for assisted day care? Are you remote enough to have a boarding kennel? Thinking "out side of the box" is what makes money. Provide what is needed and will be paid for and remember the clock does not wait for anyone.

-- mitch hearn (moopups@citlink.net), February 22, 2002.

Not a silly question at all. This is basic to starting a business- anyone can produce a product or service, but the trick is to offer products/services that are in demand in your area, and at a price which allows you to realize a profit. Check with your county extension agant to see what suggestions they have to offer. Read the classified ads for your area, and also the WANTED ads. Make cold calls to gauge current demand (call pet shops, veterinarians, research labs, snake enthusiast's clubs, etc. and see if they are in need of mice). Call existing suppliers in your area to see what they are offering, if they have enough stock to meet the demand, and what their prices are. You might also consider running an ad in your local classifieds just to see if people respond. If they do, tell them you are temporarily out of stock, take their name and number, then call them back later if and when you have stock for sale.

-- Elizabeth (ekfla@aol.com), February 22, 2002.

You could also do what is called a "dry test". This is where you advertise as if you were already in business and see how many people respond and collect market data. Of course, to do this legally, you cannot accept money or complete any contracts, only accept calls and explain that your current lead times preclude any additional customers, and you can contact them as soon as your supplies are increased. When actually doing the business after the dry test is completed, be sure to register as a business per all your local regulations. Also check on local regulations governing dry test advertising.

-- Jay Blair in N. AL (jayblair678@yahoo.com), February 22, 2002.

Do a lot of research on it. Check out the competition in your area and how big of a demand there is for it. How far do people have to go to receive the same service or product? What can you do better to be the number 1 provider in your area? Will it be worth your time and money in the long run? Write down short and long term goals and what you will do to reach them. Finally, is this something you want to do for the next 20-30 years?

-- r.h. in okla. (rhays@sstelco.com), February 22, 2002.