Lucrative Business Ideas in Agriculture Sector for Wealth Creation
Making money from agricultural business is no more a hidden topic for discussion because it is so obvious now as many people are becoming rich venturing into agricultural business. The agricultural business only requires adequate knowledge to benefit from the practice.
Before you decide upon venturing into making money from agricultural business, you need to first decide on which money making agricultural business ideas you want to go into, draw your business plan (in case you will need a financial back up), do your research to see if the idea will be good for your locality as each agricultural business ideas has well they are best suited and take action.
One good thing is that, some of these agricultural business ideas do not require huge capital to start and are capable of giving a 100% return on investment if carried out well.
Are you looking for best money making agricultural business ideas to decide which to venture into?
GUIDE: STARTING AN AGRIBUSINESS
I have compiled top 10 profitable making money agricultural business ideas which I believed will help you in deciding which to venture into without thinking much.
LIST OF PROFITABLE MONEY MAKING AGRICULTURE BUSINESSES TO START
1. Potato Cultivation
Potato cultivation is the first on my lists of money making agricultural business ideas. If you have a fertile ground, it will be best to think of cultivating potato on that piece of land. Do you know that only few farmers grow potato on their farm, making the price of potato very high?
Potato is one delicious food that lots of people including me love eaten when cooked or fried. If you noticed that sellers in your locality do buy this product from aside your locality to sell in your area, then you need to start making money by cultivating it immediately.
2. Rabbit Rearing
This is another money making agricultural business idea with a low startup capital. Due to the nutritious value of rabbit, it is highly required by lots of meat consumers that love it taste. Rabbit do not put holes in your pocket when it comes to it feeding.
They can be fed on kitchen leftover and legumes grasses. Rabbit do not also require much space to keep and maintain them.
3. Vegetable Farming Business
This is a small scale money making agricultural business ideas that you can start with little capital. Having a big or small space of land at your back yard, you can plant varieties of vegetables and make good money from them. This does not involve much work except for the watering of the vegetables which is not even regarded as a big task.
Vegetable is an important component in our food and it is widely used in almost all meal that we eat. Can you see the market? There are not enough vegetables to satisfy the needs by human. What are you still waiting for?
One other money making agricultural business idea that I can’t miss in my list is poultry farming. Venturing into poultry farming is both for meat and egg production which open way for two sources of income.
This is one of the fastest growing sector in agricultural farming. You can start with few birds and nurture them with good food and maintenance and sell them for good profits. It is advisable you go for 2 weeks old chicks as they have high rate of survival. If you can start and grow just 25 chicks to maturity, you are sure to make good money at it.
You selling periods are mostly festive seasons or special personal celebrations. You don’t need any special skills to start. What you need is a solid poultry business plan, determination and patient to grow.
5. Fish Farming
Do you know that lots of people are making fortune from fish farming? This is a sure bet business if everything is put in place. If you can invest into it in a commercial way, you are bound to rake in lots of cash for yourself.
Catfish, Tilapia and Salmon are the unique type of fish that are selling in the market. All you need to start is a land, a constructed tank(s), fingerlings to feed them for 4 to 6 months. The market is already available once people know that you have a fish pond and sell fish.
This is a very hot product in the market and the demand is increasing. It is needed in restaurants, homes, ceremonies etc. Any entrepreneur living in a business friendly city can start this business with proper planning.
Do you want to know why I consider it as one of my money making agricultural business ideas? A lot of people prefer frozen chicken than going through the stress of slaughtering live chickens. They see it as time saver and cheaper too.
You can position your business to focus more on restaurants, small hotels and private homes.
7. Production of Weed Killer
If you feel you don’t like the stress of working in farms of buying into fish farming or poultry farming, you can go into the production aspect of agriculture by producing chemical weed killer for farmers.
You will be helping farmers solve the problem of having grasses disturbing the growth of their crops. If you really invest good money into the production of this product combined with good marketing, it can be a money spinner for you at the end.
If you are based in Nigeria, you should know this is one very food that is always found in every homes in Nigeria. There is no home that don’t consume this product. This is a very lucrative business idea in Nigeria and some part of western Africa.
From cassava one can get Garri, wheat flour, animal feed (the peel) etc. as the population in Africa begins to multiply, the demand for this food will continue to grow. Which means, more farmers will be needed to cultivate this crops so that it can be able to feed the large population.
This low cost agricultural business idea is capital intensive but, if you have the capital, I will advise you to venture into it. It is a very important source of meat. You can start with 5 pigs to grow your pig farm.
Pigs grow and multiply rapidly. It takes like 4 to 6 months to rear a pig before it can be sold in the market.
10. Snail Farming
This is another money making agricultural business ideas entrepreneurs are yet to consider. One can source for these snails from local snail farmers, rear the snails and sell for profits.
As most people are running away from meat that contains too much fat and beef, you can make your snail attractive by not just selling but selling as a meat consultant telling people about the nutritious value of the meat.
In conclusion, just don’t venture into any of these money making agricultural business ideas after finish reading this post. If you find any idea that interest you, conduct research on it or better still go out and look for any successful person that is into the business and ask your questions.
Oluwamayowa holds an MBA degree from Obafemi Awolowo University.
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