Hop farming requires a substantial investment in capital, time and management. A business and marketing plan is essential to developing a successful hops operation. A new factsheet has been released by OSU Extension to outline the pre-planning points that should be addressed to create a financially successful hops operation.
Economic considerations and site preparation are two important points for a successful hops operation and integral to a business and marketing plan. Planning in these two areas is essential, and the business and marketing plan should be developed at least one year prior to planting the first hop plants.
New hop growers are also encouraged to consider the details in this fact sheet before making an investment. Production budgets indicate at least $25,000 per acre may be needed to establish a high trellis hop planting and at least a $100,000 investment for a small-scale hop processing, drying, pelletizing, cooling, packaging and freezing facility built to federal and state food safety regulatory standards. This fact sheet looks at:
- Market establishment
- Labor needs and availability
- Facilities for processing and storage
- Insurance considerations
- Financial and planning resources
Site preparation considerations including:
- Site selection
- Field preparation
- Plant selection
- Plant nutrition and fertilization
- Pest management
The complete fact sheet can be accessed at: https://ohioline.osu.edu/factsheet/anr-58 or can be obtained by calling your County Extension office.