If you have idle lands or a vacant lot, you just need to have some creative and innovative ideas and inputs that will turn these into one profitable and income generating piece of land . There is much that can be done to an empty lot whether small or big. It doesn’t really matter, it is still one valuable asset. Whether for personal, communal or business use, a vacant lot offers many opportunities but profit tops the list. Listed below are business ideas that will help you convert vacant spaces into something profitable.

  1. Farming

Farming is one of the practical ways to generate income for your vacant lot especially if the land area is big. Farm produce is a person and a family’s daily consumption so you can never go wrong with the business of farming. The choice can be varied from planting vegetables, crops, rice, fruit trees, herbs and even plants. Harvesting these crops and converting them into cash is the simplest and easiest method that you can use. You can also sell these produce in a community market, or even have the option of exporting these goods.

  1. Outdoor Advertising

If the location of your vacant land is by the highway or in any other strategic location, you can invite advertisers to set-up billboards on it and charge them rental fees for land usage. This type of business can earn you consistent passive income over a long period of time. The billboard and signage might not also be limited to a small are but it can occupy one huge area so anyone can see it.

  1. Poultry Farming

Poultry farming is another lucrative business idea for an empty lot. You can raise chickens, turkey, and other birds that people regularly consume. You can also make money from selling eggs, meat, and poultry byproducts to your community or transact business with companies that would in turn sell them to retailers or consumers. Just make sure that your neighbor or community approves of this poultry as this may not be appropriate in some empty lot areas.

  1. Hardware and Construction Supplies

Starting a hardware and construction supply business is relatively hard to begin as it entails a huge capital and manpower. However this is one of the most lucrative and profitable businesses if planned very well. Your empty lot can help in the start-up as you will not have rentals. With these, the returns are very high. Many businesses continue to look for cheap but good quality materials. Thus, a hardware and construction supplies business is still a good investment for your empty lot.

  1. Real Estate

Building a structure on an empty lot is real money. The structure can range into a commercial building, apartment, dormitories or you can level up into condominiums, hostels, hotels or office spaces. If the land is quite huge, converting this into small subdivision or low cost housing is also very profitable. Creative ways of structuring your buildings or offices is also one way to invite people to invest in your place.