A new Japanese company, MyFarm, has started renting out farm space to local residents. Now those who don’t have farming land or a big yard can rent a plot of good farming land, and grow whatever they want on it.
Go Farm Yourself
People who grow on this rented land can sell the produce to the local MyFarm owned grocery store. These stores specialize in selling produce grown specifically by the local MyFarm farmers.
Though it doesn’t pay much, it does add pocket change and added incentive to those who grow more produce than they need for themselves.
Affordable and Social
It is said that the average plot of land costs only about 5,000¥ per month, which is about $45 USD.
The space is tightly packed, local farmers can meet other novices or even learn from some professional growers who utilize this land. Farmville in real life and with real rewards!
Where Did This Land Come From?
The land utilized by the MyFarm venture was unused land from a local farmer. This farmer had lots of unused land in his ownership and the venture decided to capitalize upon this unused land.
The owner of this land stated in an interview with Channel Japan, that he takes about 70% of the monthly rent fees and MyFarm gets the other 30%.
The owner of this land gets paid so other people can farm on his land, genius!
What is the Future of MyFarm?
MyFarm may be able to expand to more farms and rent off their unused land. It seems like it could be a sustainiable business model if Japanese farmers tend to have extra land. They may potentially be able to buy their own farm land in the future, exclusively for renting out to locals.
This business model also works particularly well in Japan, where the typical residential yard space is not suitable for growing crops! (If they have a yard at all.)
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