Interested in small agriculture based business ideas? If YES, here is how to open a farming and agro business with no money and no experience. How much does it cost to start up?
How to Start an Agricultural Farming Business
Are you thinking of starting an agricultural business in your city, community or state? Do you know that you can become that millionaire that you have been dreaming about with venturing into agricultural business?
In major countries of the world, especially the under developed or the third world countries, agricultural sector is now the hot spot as the oil and gas business is now going with time, due to the discovery of solar and hydro cars and electronics.
The agricultural sector which was literally abandoned when oil was discovered is now being resorted to. This sector is a right path for any unemployed person who wishes to go into entrepreneurship.
Therefore, any businessman or entrepreneur who desires to make more than enough income needs to invest in the agricultural business today. However, starting an agricultural business can be quite daunting but with adequate and proper preparation, idea and requisite knowledge it will be an easy pass.
For prospective investors looking to invest in agriculture, the following must be taken into adequate consideration if you really want to start an agriculture business.
STEP BY STEP GUIDE TO STARTING AN AGRIBUSINESS
Identifying the Branch of Agriculture
The first action to take before you can start an agriculture business is to first identify the branch of agriculture business you want to focus on. A prospective agricultural investor needs to know the area of agriculture that interests him or her. Agriculture is very wide and an entrepreneur wanting to venture into the sector must know his or her area of focus or specialization.
An investor should know whether he wants to go into crop production (which entails cultivation of land, planting, management and harvesting) or Animal husbandry which basically deals with rearing of animals which include birds, domestic animals and other aquatic animals.
He or she basically needs to engage in a lot of research so as to know more than enough about his or her choice of area.
Lease A Portion of Land
Irrespective of which branch of agriculture is chosen, a place is still needed for the agricultural activities. Therefore, a prospective investor or an entrepreneur after identifying which area of agriculture to go with need to get some acres or plots of land based on his financial capacity, for either farming (crop production) or animal husbandry.
It will save cost if he can get an unoccupied piece of land which he possesses. In the event that he doesn’t possess any space where his agricultural activities could be carried out, the best option is to lease a land. This location could serve both as an office and farm depending on the taste and choice of the business owner.
Procure Relevant Machines
Gone are those days when farmers physically engage themselves is almost all aspect of agricultural processes. The advent of technology and machines specifically is a blessing specially to crop and animal farmers. Now, ridges, crop plantation and animal feeding could all be made by a press of a button.
Therefore, anyone who desires to go into the agriculture sector should be ready to get various machines involved at different levels of agricultural processes. These machines could however be too expensive and not affordable for fresh agro-preneur but instead of procuring new machines for use it is advisable to get them on hire agreement.
There are quite a number of people around who have those machines and hire them out. Hiring some of these machines for a start is better.
Another important factor when needed to start an agriculture business is competent hands to carry out manual labours on the farmland. Though machines have come to assist, but manpower is still needed for support. What is really needed is to get people who will do the work and supervise.
The entrepreneur has to agree with the workers on the amount of their wages or salaries. With the advent of machines, the man power needed will be less because most of the processes would be done my machines if available.
Any business no matter how lucrative and profitable it could be, that lacks management is bound to fail and crash. At this stage the business needs thorough management which could be done directly by the business owner or he could hire a qualified manager to do the work.
However, if he chooses to hire a qualified manager, supervision is nevertheless needed.
One mistake most ‘agro-preneurs’ make is that they wait till they start to harvest before they start marketing. It is economically wrong to do this. Awareness needs to be created very early even before crops are harvested or animals (or their products) are ready for sale.
Another thing entrepreneur should also look at, especially for those who produce in large scale, is the area of exporting their outputs to neighboring states and countries. This will further boost the scope and awareness of such entrepreneur.
In conclusion, starting an agricultural business is not a direct or sure ticket to riches or fortune. However, with the right mindset, dedication, hard work and proper management the proverbial fortune in agriculture will come.