I have smithy in Seneon, it doesn't make money at all. I go there and buy a bunch of cheap tools at the market, completely depleting it's stock. The workshop will then make decent money, but the amount drops off back to nothing after a short time. I go back and pick up another stack of cheap tools and it repeats.
Getting money before caravans. The first and best way is to join a faction and get your first fief. The game makes sure that every lord gets one fief when they join a faction, and the player is no exception. It may take a little while, but your liege will grant you your very own fief.
Ronish May 15, 2021 @ 9:49am. I've got 3 workshops covering most of my wages for 100-person army. 2 wool workshops in the far east make 300+ each consistently (as of 1.5.9). Just resist the urge to keep upgrading your troops to max tier. A top tier soldier gets twice the wage of a mid-tier but is not twice as powerful.
Related: Mount & Blade 2 Bannerlord Prisoners Can No Longer Become Governors. Luckily for Mount and Blade 2 players, money is very easy to earn and there are lots of ways to do it. Between selling goods, completing missions, and killing enemies there is a large variety of tasks to complete that will award players with lots of gold.