In the past, Agriculture served as the most favorable and reasonable business idea for many people. Individuals utilized land, cultivating crops for sustenance and bartering farm yields for necessities in a system known as trade by barter. With specialization, people transitioned from randomly slaughtering animals to domesticating and raising them for growth and reproduction, eventually selling them. Livestock farming constitutes this form of agriculture.
Simply put, Livestock farming is the rearing of animals either for consumption or sale. Entrepreneurs exploring diverse opportunities in agriculture widely recognize it as Animal Husbandry. Livestock Farming stands as a significant income source, contributing approximately one-third to the country’s agricultural GDP. It is one of the sources of government revenue and provides opportunities for employment, food, and income.
Starting a livestock farming business is a really big deal. While drafting it may seem easy, executing the work is often challenging. The business takes time to establish and operate effectively. It also requires a high level of commitment and dedication because of its difficult nature. Entrepreneurs might need to put in an increased level of hard work for the business to be successful. All these might make the business look hard and not worthwhile but no business comes without its challenges and at the end, you’ll find out that this particular business is highly profitable provided you work hard and do all the necessary things required to achieve the desired goal.
Similar to Agriculture’s divisions—cultivation involves planting crops for market sale, while livestock farming breeds animals or sells their products for profits, showing its various forms. There is a wide range of options that entrepreneurs can select from. All of these options still involves rearing animals and are all highly profitable though levels of profits can be different.
The first is Poultry Farming. I’ve put this first because it is one of the most common livestock farming businesses in Nigeria. Farmers rear poultry birds solely to obtain eggs or meat from them. The birds come in different species and individuals might need to select a particular specie to work with. The business also comes in different forms. You may choose to rear the birds for eggs or to raise them for reproduction, eventually selling the mature ones. This type of livestock farming sees widespread practice and holds a well-defined market for its products. Also, the profits from this business are always massive due to the demand for the products.
Another form is Goat Farming. In Nigeria, one of the most consumed product is Goat meat. This business produces goats primarily for meat, unless other processing aspects are considered, unlike poultry farming. Cattle farming is yet another form of animal husbandry and it involves rearing and raising a cattle from birth till it is ready to produce milk or meat. Just like goat farming, the cattle are mostly preferred for meat though milk can also be gotten from it. As a cattle farmer, you can either decide to do the one that involves milk or the one with meat or even do both based on capital.
Another livestock farming option is the every popular fish farming. Fish Farming is definitely one of the most popular businesses, not just agricultural but generally, in Nigeria today. The market for fishes is very well known and the product is also consumed by many. There are different species of fishes and it is up to individuals to select one and begin operations or start to run the farm based on the specie selected. In Nigeria, catfish farming is the most ventured into business for this form and it is highly lucrative. Just like every other livestock business, it is not easy to start and you might require large amounts of capital and a high level of hardwork and commitment to set the ball rolling.
The last form of livestock farming to be discussed is the emerging pig farming business. The business is not too popular but it is actually one of the biggest forms of animal husbandry. It is profitable and also brings in a lot of revenue to the economy. Pigs are known for their primary product, which is pork, widely consumed in many parts of the country. They have a reputation for reproducing in large numbers, quickly filling up a farm. Asides pig farming and the other forms mentioned above, there is also snail farming business, which is yet another good business option. Many consumers find snails nutritious and consume them. Although the market isn’t well-established, this business holds the potential for substantial profits.
As an entrepreneur who wants to start any of these businesses, it is important to do some important things and also follow neccesary procedures to have a bigger chance of succeeding and enjoying the business. In the next sub heads, I’ll briefly discuss the different steps involved in starting a livestock or animal husbandry business venture.
1. Select a specialty. Most of the above-stated business forms involve different species or various outputs crucial for this decision. Entrepreneurs need to select one which they’ll focus on. Most startups prefer commencing small, so it’s advisable to select one specialty rather than pursuing everything at once.
2. Do thorough research on your speciality. At this stage, you’ve selected a branch or form that you’ll engage in, so it’s now up to you to make enquiries about everything the business entails. Acquire comprehensive knowledge about the animals, their feeding, care methods, and all other necessary information essential for a well-informed understanding of the business.
3. Write a business plan
4. Source for Capital
5. Secure a location. One common thing about animal husbandry is that the animals need to be in a particular place or location. From this place, they’ll receive proper care and upbringing. You can’t just leave them to wander around. However, the cattle farming might prove different. Previously, cows roamed and moved between locations traditionally, but now ranches can accommodate them. This might incur extra cost but it is the safest option for the cattle.
6. Get their food, vaccines, and all other resources or supplies needed. At this stage, entrepreneurs determine this based on the chosen business form, obtaining equipment and machinery as necessary. This usually depends on the capacity scale of the business.
7. Employ labor. Recommend facilitating operations, although it may not be an essential demand when managing a large-scale farm.
8. Start Operations
9. Market and Sell the product.
Yes, the livestock farming industry is filled with a lot of opportunities for entrepreneurs to dive into. It is not a simple or easy form of business as it requires a considerable level of hardwork, skill and commitment to succeed. It might be hard to set up but all that won’t matter at the when you start counting your profit.
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