A small business I have thought of is to rebuild and recreate by grandparents’ homestead on the original site and operate it as a local inn. The closest place for visitors to stay in the area is 50+ miles away. The house was large enough to raise ten children and hold large family events. The yard is an area that would be very suitable for family reunions and weddings. Activities on the farm for guests would include fishing and horseback riding. There is not a very large market for the hospitality industry in the area. Revenue has to be supplemented. Pasture land is scarce. Therefore, due to the large amount of natural grassland, pasture land would be rented to local farmers.
Long-run costs are the purchase of the land, construction of house, repairs to out-buildings and fencing, and purchase of horses and riding gear. Fixed costs would be interest, utilities, advertising, taxes and insurance. The short-run cost is wages for a farmhand.
A similar business is called Green Hectares Bed & Breakfast. They charge $75-120/night. They have 6 rooms, 15 person capacity. Barbecue and fire pits available. Provide banquet facilities, meeting space, tours, bird watching, farm animal viewing, “bed and bale.”
Another is McMaster Manor. There sited showed wedding pictures. It has 5 rooms for $70-85/day. They too have tours, fire pits and barbeque available and prepare meals requested. http://www.sasktourism.com/things-to-do/outdoor-adventure/horse-experiences?WT.mc_id=go8g1&WT.srch=1
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