Is Peony Farming Profitable? The Real Numbers Behind a Legacy Crop

If you’ve ever wondered, “Is peony farming profitable?” you’re not alone. This is one of the most common questions I hear from new and aspiring flower farmers. The short answer? Yes—but only if you understand how peonies fit into your farm’s business model.

In this guide, we’ll break down the startup costs, potential revenue, and what makes peonies one of the most reliable, profitable cut flowers you can grow.

The Startup Costs of Peony Farming

Unlike annual cut flowers, which you plant and harvest within the same year, peonies are a perennial investment. Once planted, they’ll continue producing for 50+ years—but there’s an upfront cost.

Peony roots: Wholesale prices usually range from $7–$15+ per root depending on variety and order size.
Soil preparation: Adding compost, soil amendments, and ensuring well-drained beds is essential.
Infrastructure: Minimal compared to high tunnels, though some growers in dry or warmer climates install irrigation. Landscape fabric is also a highly recommended investment.

For a small plot of 100 peonies, you might expect an initial investment of $800–$3,000.

Time to Profit: Playing the Long Game

Peonies won’t pay you back immediately. The first two years are about establishing strong roots.

Year 1: Remove all buds (no harvest)
Year 2: Harvest sparingly—just a few stems from vigorous plants
Year 3 onward: Full harvest potential begins, with yields increasing the next few years

Think of it this way: peonies are a legacy crop. Once they hit maturity, you’ll have decades of harvests with very little annual input.

Revenue Potential: Wholesale vs. Retail

Here’s where things get exciting.

Wholesale prices: $3–$6 per stem is common
Weddings & retail: $6–$12 per stem, sometimes higher for premium colors, varieties, or early-season blooms

A mature peony plant can produce 10–30 harvestable stems per year (we use 20 as an average, and have some varieties on our farm that produce 40 stems per plant). Multiply that by hundreds (or thousands) of plants, and you’re looking at a serious income stream that requires only 6–8 weeks of (intense!) labor each season.

The Big Advantage: Longevity and Low Maintenance

Unlike annuals, which require constant replanting, peonies:

Thrive for decades (peonies have been known to live for a hundred years)
Require minimal fertilizer and no irrigation (historically, in many climates — this is very climate-dependent and you may need irrigation, especially for a larger production operation)
Can be dry stored for weeks, extending your sales window (we call this peony magic!)

**This unique combination makes them one of the most efficient crops for flower farmers looking to build steady, reliable income.**

Pitfalls to Avoid

Not every peony farm thrives. Here are common mistakes I see new growers make:

Planting too deep (which delays or prevents blooming)
Choosing only trendy varieties without considering market demand
Skipping market research before planting (leading to crops that don’t sell)
Neglecting disease management (especially botrytis)

Avoid these, and you’ll be well on your way to profitability.

Final Thoughts: Is Peony Farming Right for You?

If you’re looking for a crop that’s beautiful, resilient, and profitable, peonies are worth the upfront investment. They can provide decades of income with minimal maintenance—something few other flowers can promise.

But profitability doesn’t happen by accident. It takes smart variety selection, market alignment, and planting strategy.

👉 That’s why I created a free mini-training:
How to Grow Peonies That Pay You Back—Year After Year

In this short, practical training, I’ll show you the key steps to set your peony business up for long-term profit. If you’re serious about building a farm that sustains you—not drains you—this is your starting point.