Top Business Potentials from the Agricultural Sector
Agriculture is one of the booming sector of the economy as par GDP but unfortunately, alot of people could not see the huge potential of investing in one or more of the sub-sectors. We have picked ten businesses you could start with low capital from the sector
1. POULTRY FARMING – BROILERS
This is for meat production. The good thing about broilers is that they take very little time to mature. 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 N2,500. If only 35 of your chicks stayed till maturity, you can make N70,000 after sales. These prices are relative, of course, and are subject to time and place. But it gives you a general idea about how lucrative this business could be. You don’t need any specialized skills to start, just your determination to succeed and willingness to learn.
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
You could start feed production and supply feeds to all the poultry farms around you. 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.
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. POULTRY EQUIPMENT MANUFACTURING
These are usually skilled artisans who construct various equipment needed on the poultry farm – welders, carpenters, electricians etc. You can learn the various specifications needed for the poultry equipment and you are in business.
6. 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.
7. FRESH VEGETABLE BUSINESS
The fresh vegetable business is a small-scale business that you can start with little or no capital base. 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.
8. GOAT REARING BUSINESS
Goat meat is always on demand all year round. You can start a goat farm and make a passive income all year. One advantage of this form is the business is that goats are easy to rear; all you need is to provide fodder for the goats daily. The disadvantage of this business is that you may have wait for two years before you start getting your returns on investment. Here is a detailed article on how to successfully start goat farming in Nigeria
9. CAT FISH FARMING
Catfish is a unique type of fish rich in polyunsaturated fatty acids which helps in managing the human cholesterol levels. 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.
Apart from catfish farming, you can also specialize on feeds for the fish. This is another lucrative aspect in the fish business. There are lots of articles on the internet about how to start catfish farming in Nigeria. As I explained earlier, the best instruction you can get is by visiting a successful catfish farm and seeing things firsthand.
10. 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.