Bees are brand new to the homestead this year. I have studied them and read countless howtos, but my first bee will arrive in late April.
I am looking forward to about 5 gallons of honey per year, under perfect conditions from my one hive. I expect far less in the first year as the colony gets established.
It takes about 1 gallon of honey to produce 5 gallons (25 bottles) of mead, a wine-like drink that pre-dates beer. I will be brewing that goodliness next year, but may try some ditch methods and equipment this year.
The bees wax will go into lip balms and candles. Nothing ever gets wasted around here, except the farmers 😉