Best agribusiness ideas with good return on investment
A few years back, it was a big issue trying to convince people to invest in agriculture.
Everyone saw agriculture as the “dirty man job” but that seems to have changed now.
Many persons are beginning to see the richness which agriculture possesses.
Am happy we have moved from why we should invest in agriculture to which agribusiness is best to invest on.
One of the biggest lessons of the year, is the importance of agriculture in our present world, while other businesses were on standstill, agro products became the saving soul of the world.
This is enough reason to look the way of agriculture for more opportunities.
The good thing is, agriculture has a space for everyone, whether you are interested in livestock or plants, the opportunities are always there for you.
Here, we have compiled a list of the best agribusiness ideas you can safely invest in.
Our list took account of determinants like the risk associated with each of the agribusiness ideas.
The demand of each product both in the local market and international market, the saturation level, profit feasibility and finally how sustainable each of the agribusiness ideas is.
List of best agribusiness ideas for 2021
The first on our list of best agribusiness ideas is “Food material selling”
1. Food Material selling
Many will be surprised to see this in our list of best agribusiness ideas, maybe because they have seen those in this business a lot and they don’t look like they are making good money.
Well, you are not wrong.
But, selling of food materials is VERY PROFITABLE unfortunately many who go into food stuff selling start their business without first undergoing any kind of training or studying the market.
Our research showed that out of every 10 persons into food material selling.
Only one studied the market and season before starting, the remaining persons learnt from the market while practicing it. This is a wrong approach.
Every business has its time and season and this agribusiness is not an exception.
You need to be trained about how the season moves and changes so you won’t be a victim of avoidable wrong business decision.
There are times that the market booms, and time it slows, if you study the market well, you will discover all these tricks and they are helpful in your success in the market.
This is what Mrs Uka who sells food material has to say
“I started this business in 2018, and before I started, I stayed with my friend who does this business
She normally complains of a slow movement in the market during the planting seasons, between April to July, so I understood that I should do more buying during that time that everyone has food and are selling them cheap
And during the last quarter of the year, things go high, that’s when I do more selling, this goes on till March and things always, somehow come down,
I will start buying and stocking again at a cheaper rate“
I hope you paid attention to how well she understands the market, that’s good business.
It is important you study the business before going into it because making profit from agribusiness ideas is mostly due to how well you understand the business.
2. Snail farming
Even though snail meat is a cherished delicacy in most Nigerian homes and Africa in general, there are few snail farmers out there, in most cases.
What you see are people who keep snails just because they love animals and see a lot of these snails around their house.
Here is why snail farming is one of the best agribusiness ideas that you should invest in.
Snails are prolific
Snails are highly prolific, they lay eggs in clutches, a single laying season is made up of many laying clutches.
A single snail can lay over 100 eggs in a single laying season and can do this more than once in a year. That’s how prolific these creatures are.
Let’s assume you start a snail farm with 50 snails, and they mature, lay eggs and the eggs hatched well.
You will end up with nothing less than over five thousand snails in your farm all within months of starting your farm.
Snail farming requires little capital
Snail farming is not capital intensive, you can start with as little as #5,000.00 ($12) and run your farm successfully.
One thing is certain, for every pocket size, snail farming has a space for you.
You can start with used and disposed tyres and can get your snails from the bush as well if you wish.
Snails mature quickly
Snails are capable of growing to maturity within five (5) to eight (8) months, depending on how they are managed.
This is why your farm will expand rapidly.
You don’t need to spend much on food
Unlike in poultry, piggery or sheep, Snails consume a wide variety of food ranging from leaves, fruits, flowers, which are readily available in the market and beside you.
So you can get their food anywhere and anytime, you don’t even have to spend to do so.
Snail Farming is stress-free
Rearing snail is less time consuming and stress-free when compared with other livestock.
You don’t need to spend the whole day on your farm every day, even though it is important as a starter, but it’s not a must if your management system is top-notch.
The demand for snail is high
The demand for snail in Nigeria and Africa is largely increasing, it has grossly surpassed the supply of snail and its product in the market.
Currently, there are over 14 million annual demands for snail in Africa alone with an increasing export demand of snail.
Find more by clicking below
With all said, if you are looking to make good money from agribusiness, investing in snail farming is a good idea and of course.
Snail farming merits its place in our list of best agribusiness ideas.
The third on our list is beekeeping
Honey is one of the most unexplored agricultural commodities in Nigeria and Africa at large even with its great revenue-generating potentials.
Honey is a naturally sweet substance produced by honeybees with China as the World’s biggest producers.
China exported over the $249millon worth of honey in 2018.
The growth of beekeeping in Nigeria hasn’t been a smooth one due to lack of support, information and the needed exposure within farmers.
Though, the last few years have seen great changes and improvement in the circulation of information about beekeeping.
This is evident with the current quality of honey produced locally in the country in the last few years.
Beekeeping is not capital consuming, you only need the cages (usually made of woods), bee attractant, an area of land (mostly close to or forested areas) and fruits which are mostly planted around your hives.
One must note that as much as beekeeping is lucrative and looks easy, you must acquire the right knowledge before you can succeed.
It is risky and could be harmful without the right guidance, Bees can hurt you if you don’t know the tricks on how to approach them.
Harvesting your honey is also hurtful if you lack the right tactics. So, what’s most important in beekeeping is acquiring knowledge.
4. Rabbit farming
Rabbit farming has grown over the years from just a source of meat to source of income and employment.
Starting a rabbit farm is stress-free, less task demanding, less cash consuming yet very profitable.
They are fast growers and are slaughter ready within two months of age, this is because of their ability to convert food to meat.
Rabbit meat contains a high ratio of protein, energy, calcium and vitamin than any other types of animal meat with less cholesterol, fat and sodium content than other meat.
They are prolific, Their rate of production is faster than that of pigs, goats or sheep.
A female rabbit delivers a litter every 31 days and can produce more than 12 times her weight in offspring in a year.
You can read more about how to start your rabbit farm below.
The good thing is, it takes little to start your rabbit farm, one needs small space and few wooden or metal materials for either cage or litter system of rabbit house construction.
It is also important to note that training is very important here, you need to get the necessary training before starting your rabbit farm.
Obviously, rabbit farming is one of the best agribusiness ideas that farmers have high rate of succeeding.
5. Mushroom farming
It is shocking to know that most farmers are not aware that mushrooms can be grown just like every other crop.
Yes, they are naturally occurring fungi but they are grown artificially as well and are as farmable as every other crop.
Mushroom is a generally accepted part of meals in most homes across Nigeria and Africa.
Mushroom has such great potential, it is highly profitable and largely unknown to most farmers and that is the reason for including it in our list of best agribusiness ideas.
First, the mushroom market opportunities aren’t saturated yet, in fact, they lack numbers. Mushroom is a highly sorted after commodity in most local and urban markets.
Mushrooms are a great source of protein, vitamins, and minerals. And are preferred in the meal over fish or meat by most persons because of its superior health benefits.
It is important to note that not all mushrooms are edible and so care should be taken on which one you pick from the bush to eat.
This is more reason why many resorts to buying from the market mostly from trusted sellers than getting them from the bush.
Good training will avail you the opportunity to learn the difference between edible and non-edible mushrooms.
You will also learn the best methods to practically cultivate mushrooms, how to manage them and the best marketing strategies.
Equipment such as bags (Polythene), a closet, mushroom seeds, sawdust, bags, and Spawns are used in mushroom farming.
Other equipment includes weighing machine or scale for examining the weight of your products, they are mostly packaged according to weight, a storage device (refrigerator), and packaging materials.
Mushroom does not require much sunlight because they are not green plants which need sunlight for photosynthetic activities.
They perform well in a confinement. Mushrooms are easy to sell, you can sell to individuals, hotels and eateries, export to other countries etc.
6. Production and selling of Livestock Feed
In response to recent activities, the price of livestock feeds has increased drastically.
Inorganic livestock farmers are forced to pay double of usual price to get feed for the livestock as most persons are not conversant with how to formulate livestock feed organically.
If you want to invest in this agribusiness, You can combine organic and inorganic feed production, satisfying both markets and creating more means of selling your products.
The size of your farm depends on your investment power and what you are capable of managing.
You don’t need much training if you have any prior knowledge about livestock feed formulation.
You can formulate for poultry farmers only if you don’t have much capital to fund a larger and inclusive project.
7. Fish Farming
Fish is an important part of our daily meal, eaten in different forms, the demand for fish is always high no matter the season and time.
Fish lowers the risk of heart attack and stroke in human, contain essential nutrient such as Omega-3 fatty acids which is important for brain development, boost brain health and contain Vitamin D, which is essential in human.
It is generally accepted and profitable.
But unlike others on the list, to start a fish farm, you will need a suitable fish pond, nets, fingerlings, buckets, a source of water (for constant water supply), the feed and other major equipment.
The fish market is largely the easiest, you can hardly find a market where fish isn’t sold and yes, this is one of the best agribusiness ideas according the current market.
Other agribusiness ideas that one should watch out for includes
8. Poultry farming
Of course, you can’t end the list without a space for poultry farming. Poultry farming is an old evergreen agribusiness idea, very profitable but comes with great caution.
Most poultry farmers started their farm without any prior knowledge about poultry farming.
This shouldn’t be so, intending farmers should first acquire the necessary knowledge.
This way, they will be able to face challenges that come with agribusiness idea.
Poultry farming is cash consuming and task-demanding, and requires the attention of the owner.
You need a poultry house, watering can, good startup cash, source of feed, light source, sawdust, a feeding trough.
Vaccination is also important. The birds need to be protected from the cold or harsh weather condition.
You will have to decide whether to rear broiler or layers.
Other agribusiness ideas to look out for are
- Fruit farming
- Vegetable farming
There are numerous agribusiness ideas out there, selecting the above list as best agribusiness ideas doesn’t mean others aren’t good.
It is good to note that environment can be a determinant on each agribusiness.
There maybe high demand of snails where Mr Wale lives but snail farming is forbidden where Mr Musa lives, so your environment matters when deciding on any agribusiness idea.
One thing you must take out of this article is the fact that making a profit from any agribusiness rest on how well you understand the business and not how much you invest in it.
Though this is not the case with most agro-investors especially in rural areas, people invest and learn through the out of their investment. this is wrong.
it is good you get the right training and exposure before dabbling into any agribusiness.
How do you see our list of best agribusiness ideas, do you have a contrary opinion, we would love to hear your thought.
You can also make your own list of best agribusiness ideas, we would love to see them and why you picked them.
If you have any question regarding this post, you can drop your questions on the comment box, we will reach out to you.
Do kindly share.