Agribusiness
Top ideas on how to start farming business
Agriculture has taken a position of prominence in Nigeria’s economy making up about 20.49% of our total GDP in the first quarter of 2016
There are endless opportunities in agriculture and more people are starting to realize that, especially young people. This article is a highlight of agriculture business ideas in Nigeria and Africa at large.
There are unlimited opportunities in the agricultural sector; this article will highlight some business ideas for starters.
- Poultry Farming – Broilers
The best time to start this business is February against Easter sales and October for December sales. The cost of a day old chick is N125, while a week old chick goes for N250. It is advisable to go for a week old chicks because they have a higher survival rate than the day olds.
The bulk of your expenditure should go on feeds for the chicks for the duration of 3 months. At maturity, a chicken can be sold for between N2, 000 and after sales.
2. Poultry Farming – Layers breeding
Here you are breeding your layer chickens with the major aim of having them lay eggs. It takes more time and costs a bit more money for this business to mature but here is the good thing: it gives you two major sources of revenue. You sell the eggs, which is very lucrative anytime, and when the layers become weak, you sell them as well.
3. Poultry feed production
Feeds is a major money spinner in poultry business because for chicken to grow they need to eat, a lot. It requires that you know a lot about poultry farming and what constitutes the feeds. Again, learning from people who are already in the business saves you many mistakes downtime. Here is our article on how to start your own poultry feed production business.
4. Poultry Farming – Hatcheries
There are people who specialize in hatching day old chicks for poultry farmers. Because of the demand on poultry farmers to grow more chicken, hatcheries are usually booked round the clock. This is an opportunity for more people to enter this line of business because in poultry farming, it’s rare for one farm to be involved in all processes. Specialization is key.
5. Chicken and Egg Distribution Business
This basically involves bridging the gap between poultry farmers and the consumer market. It is very lucrative and requires relatively little money to start-up. You can focus only on chicken, eggs or both. You meet poultry farmers, buy their stock and resell them in the market to wholesalers and retailers. It does not need any special skills, only your marketing abilities and a working vehicle.
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6. Fresh Vegetable Business
One benefit of this business is that it requires no cost of maintenance to run the business. Also, there is always demand for fresh leafy vegetables like; the Waterleaf, Scent Leaf, Ugu leaf and Green. To run this business, you need a small space in your compound or nearby farm where you can cultivate the vegetables. For cultivation, you only need to plant the stem of the vegetable. It takes six weeks or less for the vegetables to mature for harvest. You cut the leaves and sell to consumers and marketers.
7. Cucumber Farming Business
Cucumbers are the 14th most planted vegetable in the world. They are juicy, nutritious and favored by many people for their many health benefits. Cucumber farming is a very lucrative business as entrepreneurs who are already in the business will testify. The right time to start is now! Here is a detailed post on how to start cucumber farming business in Nigeria.
8. Cat Fish Farming
The numerous health benefit of this species of fish makes its demand higher among health-conscious eaters especially people above the age of forty. Restaurants, fast food joints, hotels, food courts (shopping malls like Shoprite), local pepper soup joints, market women, secondary and tertiary institution of learning and offices are possible markets for any entrepreneur venturing into catfish farming in Nigeria. The profitability of catfish farming depends on how much you are willing to invest as an entrepreneur.
9. Fish Hatching Business
This is for people who are highly experienced in fish farming. A lot of people who wish to start the fish farming business prefer to hire the services of a fish hatching consultant instead of purchasing fingerlings which is more expensive. You can start a fish hatching business to help fish farmers start up and expand their business. The amount you charge for your services will depend on your site and number of fingerlings you are required to hatch.
10. Snail Farming
This is another business that is often neglected by entrepreneurs. You can source for small snails either from villages or from snail farmers; rear the snails for a given time and sell for profits. Read this comprehensive article on how to start a profitable snail farming business in Nigeria. This article also gives a detailed breakdown of the process.
11. Mushroom Business
The high demand for mushrooms both within and outside Nigeria has made the mushroom business a viable one. The good thing is that mushrooms take just few weeks to mature, so you can get returns from this business in a matter of weeks.
12. Pig Farming Business
If you have enough capital at your disposal, you can venture into a pig farming business. You can start with as little as 10 pigs and grow your farm into a big farm because pigs are known to multiply rapidly. It takes about 4-6 months for a pig to become matured, and can be sold for as high as N30,000. Here is our detailed, comprehensive article on how to start pig farming business in Nigeria.