Agribusiness Ideas with Low Investment – Investment is the art of using existing finance to build a prospective business that is profitable. Agriculture provides new hopes and opportunities to invest in natural food cultivation, animal husbandry, storage, etc. There are several other lucrative investment opportunities, but trust me, agriculture is the bedrock of it all.
Agriculture is one of the few investment or business models where you can benefit directly from your investment, that is you cultivate, harvest, eat from it, and sell the leftover produce for profit or vice versa. In this article, we will discuss the top 10 practical and achievable business ideas with little or low investment capital, our emphasis is on offline businesses not online agricultural businesses. It is a fact that the world has gone digital but we would like to focus on the offline business models in this writeup.
Top 10 Agribusiness Ideas with Low Investment – Business for Investors
Business Evaluation. Before venturing into Agribusiness, evaluation has to be done on which is the most profitable and suitable business for the individual. Also, prospective investors are advised to undergo a feasibility studies on the intended business to check possibilities of success and or failure in the business. Many people venture into businesses and fail because of lack of planning, absence of feasibility studies, Copying other people’s business ideas, inability to identify their area of business strength and focus on such businesses, these contribute to business failures. However, The ideas given below are suitable for many people and can thrive in almost every climate and region. They are:
1. Urban Farming
Urban farming has to do with activities and efforts put together to ensure the availability of food in the urban areas. This involves improvising means to cultivate locally grown crops in the city. Not every city dweller would profit from urban farming, but those with good strategy, passion, determination, and good capital etc. Urban farming makes you the most sought after food cultivator in town. One major thing about urban farming is this, immediately people discover you as an urban farmer with everything they would want to buy standing right there in your farm, recommendations has found you, and this is one of the ways businesses grow fast and make good profit.
Example of crops to cultivate in the urban areas for maximum profit include; corn, peppers, okra, vegetables of all kinds such as microgreens, kales, chives, mint medicinal plants, etc, fruits such as garden egg, sweet oranges, pineapple, apples, pears etc.
If you consider starting an urban farming business, here’s are few guidelines on how to get it done. set up the land for planting, whether on the roof, utilizing the forest, hydroponics or artificial soil, etc, Get the soil ready for planting by tilling or mulching, add the manure, get the crops ready, Plant, water, nurture, remove weeds manually or chemically, prepare for harvest. see full details below.
Read Also: Urban Farming: Roles, Benefits, Business Prospects
2. Warehousing / Storage Business- Storage:
Many countries are blessed with sufficient grains but lack adequate storage facilities, in such places, warehousing and storage would be a lucrative agribusiness with maximal profit. You can build a good storage facility to save farmers from the peril of loosing their grains and crops or venture into purchase and storage of those gains for future sales.
It is noteworthy that storage conditions vary with the produce. The temperature suitable for the storage of one agricultural produce may not be suitable for all. Therefore, This should be carefully evaluated before it commences.
If you consider starting an warehousing business, here’s are few guidelines on how to get it done. Have a space, have storage containers in abundance to accommodate the amount of goods you intend to store visit local mills or individuals who produce your desired goods in large quantity to buy from them, store in good condition awaiting the time for sales.
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3. Corn Farming:
This entails growing of the cash crop “corn” for commercial purposes. for eating, production of pulps, like custards and pap peculiar to certain places, production of animal feeds, corn flours, corn starch, and corn powder are some of the uses of corn, and venturing into such business isn’t a bad idea. Corn is one of the most versatile agricultural products in the world. and its demand increases yearly. It is easy to start, affordable to maintain but the profit is mind-blowing.
4. Cassava Farming:
Cassava farming thrives most in certain countries and areas. Most products gotten from cassava have become very expensive making cassava farming a prospective profitable venture. Irrespective of your resident country, cassava can be planted for commercial use. There are several species that yield great output and these are the economic species. They mature within 6-8 months of planting and are very healthy for food. Try out cassava farming today, and maximize your income potentials.
5. Fish Farming
Fishes are a good source of wealth to farmers. There are different types of fishes thriving in various parts of the world but a few can be profitable anywhere and everywhere and one of such is the catfish. Rearing catfishes amasses huge amount of wealth. Even though the pond discharge may also constitute a good amount of organic matter such as phosphorus and nitrogen which can help in nurturing vegetable farms.
A catfish farmer supplies to places like hotels, eateries, viewing centers and even market retailers. People who buy in large quantity are the target customers for this business. If you consider starting a fish farming business, here’s are few guidelines on how to get it done. Begin by getting a space to mount your fish pond, set up the pond, give the pond the necessary treatment, get the fingerlings readily available, purchase the feeds, introduce the fingerlings into the pond, nurture with feeds and watch them grow to maturity. The cost of fingerlings vary depending on the location and size. Generally, you fingerlings could be purchased at 10 to 60 naira and $0.012 to $0.071 being the dollar equivalent or 0.065 Euros.
6. Beekeeping and Honey Production:
Because of the increase in demand for natural honey and other honey- based products, honey production has great income potentials. This is the era where people prefer natural sweetening agents to the artificial, and honey is the answer. You can never be wrong in honey production business. It also includes the production of beeswax products, and pollination services.
If you consider starting a bee keeping and honey production business, here are a few guidelines on how to get it done: Get exposed to written resources that talks about how to plan a bee keeping business, set up the plans, evaluate the cost, Get the business location ready, set up the bee hive, acquire all the necessary precautionary materials for personal and collective use, get the necessary approvals from the government and statutory bodies in terms of registration etc. Kick start your farm and nurture into your desired venture.
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7. Edible Oil production, sales / storage Business
Both palm and vegetable oils have become precious commodities. There is a fascinating aspect to this business. You may decide to go full time into it, or do it scarcely. By full time we mean to engage in the production process from start to finish, or do it scarcely by buying from producers. This is one of the best storage products because it can last for as long as you want to keep it and it is facilitated by the natural preservatives in the oil.
You need lots of drums, rubbers or gallons to start the oil palm business. You need moderate capital, means of mobility to easily transport the goods from one place to another for supplies, secured warehouse to avoid invasion of thieves and loss of storage produce.
8. Livestock Rearing / Poultry Farming:
One of the most profitable agribusiness ideas in recent times is poultry farming and livestock rearing. These can be combined. If you want to make money in agriculture, try rearing of livestock like goat, pigs, duck, or chicken both broilers and layers. You can also produce chicken feeds, duck feeds, and quail feeds for personal use and commercial purposes. Believe it, this business model is more than profitable.
9. Snail Farming
Snail farming has to do with rearing of healthy snails for consumption. In snail farming, large quantity of snails are reared for human consumption. Venturing into this business means that such farmer will produce live snails in large quantity for both wholesale and retail purposes. This business is not for many people but for select few who understand the nature of such products and how to effectively manage them.
10. Mushroom Production and Marketing
This involves rearing of mushrooms for personal and commercial purposes. It has a modest start-up capital structure which allows sustainability. Starting a mushroom farming business requires basic understanding of mushroom cultivation and healthy practices within the farm.
Conclusion
In summary, the top 10 profitable agribusiness ideas in 2023 include urban farming, warehouse/storage business, corn farming, cassava farming, fish farming, beekeeping and honey production, edible oil production business, livestock rearing / poultry farming, snail and mushroom farming.
Most of the business models proposed in this post are short and medium terms businesses, which can produce results within 3- 6 months of engagement. Try out any of the above named business ideas today and make profits beyond your imagination.
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