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Farming is a business which yields a lot of profit especially when it involves the production of crops and livestock. Poultry farming is equally lucrative, especially when talking about chicken, pigeons, quails, and turkeys. Farming is the major sustainable source of economic development for nations over the years and has served as a means of livelihood for the populace and in Nigeria, the strategic role of farming cannot be overemphasized.

Farming business is the major focus for nations with good climate conditions for farming, as they look into building a sustainable development of the nation and make gainful employment of its populace, encouraging them to engage in farming.

Reasons Why You Should Start Farming Business In Nigeria

Why should you go into farming business in Nigeria? Also, why should Nigeria be the focal point for lucrative farming? The answers are:

    Large Productivity And Profitability Margin

The Nigerian environment is the lucrative choice for all farming investors as Nigeria has proven to be productive in its resources and show great number of profit achievable in the nation. There’s no country in West Africa with more production rate than Nigeria in the farming industry.

    High Population Of Nigeria

Nigeria has an estimated population of over 200 million and this puts a farming venture capitalist to an advantage to a wide open market to constantly do business directly with such estimated percentage of the populace. When the percentage of people who purchase your product from the open market is high, the farming business….
3. Availability of Expansive Fertile, Arable Land

Nigeria has a wide range of rich-fertile farmland which makes it open for investors to adequately invest in farming in Nigeria. With a estimated total mass of 910,770 excluding the water bodies makes it one of the largest land in Africa with over 70% of the land available for farming given the good weather conditions.

    Governmental Supports, Loans and Incentives

The government in Nigeria has encouraged local farming in Nigeria by showing support through granting of loans and giving of juicy incentives. In terms of support, the government provides necessary tools and materials which are essentials for farming and will also aid the production of farm goods largely available to the populace and for business to the international market.  Agriculture is also one of the highest earners of foreign exchange for Nigeria aside from oil. So, the government is fully supportive of farming practice in the country

Useful Caution Before Taking To Farming Business In Nigeria

Before you delve into farming in Nigeria, there are several imperatives you need to consider:

    For a would-be farmer to be successful in Nigeria, you need to master and understand the skills needed to be successful in the business. The major reason for this is that a lot has changed in the business and you must know your onions to avoid running into debts while aiming for profits in the farming business.
    In addition, you need to create a market strategy and identify which product you want to focus on or what you will be providing to the populace which will make your farming business a more successful one.
    Lastly, set a target for yourself and the business. This will bring about opportunities for improvement in certain areas that needs improvement. Although competition may arise but that should not overwhelm you to the point which you begin to lose focus of what you should do to keep the business going.
    You are meant to promote your business and constantly research on new innovations to make it better. It is, therefore, incumbent upon you to raise your bar to becoming a more successful farmer or businessman/woman in the farming industry in Nigeria.

Major Farming Businesses With High Prospect You Should Start In Nigeria Today
Now that you’ve decided to invest in farming, here are major farming business you should start today.  Note that the highlighted business are major farming practices which are high in demand by the populace in Nigeria today.
1. Rice Farming

A bag of rice currently cost about N13, 000 and N25, 000 in Nigeria depending on the quality of rice. Therefore with an estimated production of 100,000 thousand bags a year, selling at about N15, 000 will apparently result to about N1.5million Naira.

Rice is one of the most cheerful foodstuffs in Nigeria and widely consumed meal by most families. On a daily basis, over 70% of the Nigeria’s populace consumes rice and as 2011 the nation spent over 991 million Naira importing rice.

Therefore, starting up a rice farming business could be highly lucrative to you if all the money which is being used to import rice is directed to you as a major rice farmer.

Related Post: Establishing a Profit-Making Fish Farming Business
2. Cassava Farming
Cassava can be processed into several forms such as garri, starch or what the majority call fufu. This food is highly common in Nigeria as everyone eats cassava in one form or another. The cost of garri in the market is similar to rice and this means that there’s a lot to gain or profit in this farming business being that the foodstuff is a premium commodity in Nigeria.

Furthermore, Nigeria has lots of fertile lands for profitable cassava planting and management in which you can be getting profits in millions of naira from selling of raw cassava tubers or in its processed form such as Garri and fufu.
3. Poultry Farming

This is yet another highly profitable farming business in Nigeria. With adequate management of the poultry, a farmer could literally count millions in a very short time. This type of farming business is not difficult to start but requires a basic knowledge of its operations. This knowledge can be sought from veteran poultry farmers and they will shed more light on what is inherent in becoming a successful poultry farmer.
4. Beans farming

Beans is another high-in-demand farm product sort by Nigerians and it is important to note that beans costs almost double the price of a bag of rice and garri combined. The northerners are majorly involved in this business and they supply to states all over the country, ripping millions of Naira on large supplies. Wouldn’t you want to become a stakeholder in the beans farming business?
5. Catfish Farming

If you’re low on capital and want to start on a small farming business, catfish farming and snail farming are available to venture into. In the open market, the catfish sells for about N1,500 and you can gradually increase your production as you make sales.

    Snail Farming

Snail farming is another business which requires a low capital of less than N50,000. A research proved that a snail farmer can reap over 15 million Naira in the business within two to three years of operation.Bakery business is one the lucrative businesses all around the world today. With a nation’s population increasing by millions, it shows that people will continually eat and it will be your business to provide the needed meal. Bread is one of the choice fast foods of people across the globe and in Nigeria, its demand is never in short supply. In Nigeria, for example, the amount of people who consume bread on a daily basis proves that the bakery industry is a profitable industry. In this article, you will have the knowledge needed to start up and maintain a profitable bakery business.
High Demand For Bakery Product

Bread as an example of bakery products is a good source of carbohydrates, proteins, and vitamins. Because it has such high nutritional value, it is widely consumed by almost everyone on this planet. For a very long time consumption of bread has been a necessity for human diets and as continuously yielded an increase in consumption over the years. This proves that the market is wide open for anyone to venture into as one can invest in opening a modern bakery to provide the highest in demand bread for consumers.

Nigeria with a large population consumes a lot of bread with locally made meals such as bean cakes, pap, beans etc. Another fraction of the population may require catering services for parties and wedding to provide snacks and pastries etc. However before you launch into the business, there are some few things you must note
Find Mentors Before You Commence Bakery Business

Search for mentors before you start your bakery business as mentors will easily provide you with solutions to difficulties in the business, provide ideas, tips and information necessary to having a successful bakery business. These mentors will serve as a guide to instruct you on among other things the necessary equipment needed, how to get your license, strategies and branding ideas to selling your bread, etc.


The bakery as a highly lucrative business

Nigerian loves baked foods such as the regular “puff puff”, Agege bread, small chops and so on. With all these, there’s is still a huge market to attract as baking has no limitations in terms of age, religion etc. If you can create a creative branding strategy you will definitely find it profitable by the end of the month.

With the huge population in Nigeria, it’s very easy to say every baker is a millionaire if they get to sell to about one million people in the open market in a day. But baking doesn’t grow in such large fashion in a day but requires adequate time in branding and improving on providing crocrowd-pleasing delicious meals at an affordable price and quick accessibility in order to increase sales.

See: How to Start A Successful Farming Business in Nigeria

If you have an intention of baking or you have started your baking business, here are the ways to make it profitable:
Market Survey

Do a proper survey or research to inquire about the demand presently in the market regarding baking products which other bakeries do not offer. In this survey, you can also find out if there is a customer relationship between the producer and the consumer. In this survey y,ou can state what the customer’s demands are and position your business in such a way that meet such demands.
Source for Start-up Capital

Whatever you discover from the demands in the market will affect the budget of your start-up capital and this could be more than your initial budget.
Source for Start-up Capital

The high demand which you have discovered in the market for a particular product will affect the amount of start-up capital you need to start the business.

Furthermore, your start-up capital will determine the materials you would need, the equipment you should buy, your business size, etc. All these would be drawn up into the estimated amount of what to you need to get your business up and running.
Have a Business Plan

The business plan enables you to draw out strategies to be used in the business such analyzing your start-up capital which has been estimated from your feasibility reports, where you want to get your capital from – this could be a loan, from your savings or assistance from family and friends.

This business plan will show marketing and branding strategies to be used to promote your brand, number of staff you need, equipment etc. It is important to start a business with a proper business plan.
Buy Necessary Bakery Equipment

Purchasing the right and necessary equipment is very important. Buying the right equipment depends on the level at which you want to startup the business such as the size of the bakery, capital and so on. Here is the list of equipment needed for a bakery business: mixers, dough molder, large tables, bread pans, display shelves, water proof wrapping sheets, oven, bread slicer, van for delivery and so on.

Proper installation and maintenance should be given to the skilled technicians to monitor and control.
Baking Materials

The major materials needed for baking are baking flour, baking soda, butter flavors, water and so on.
Get Approval from Government and Regulatory Bodies

If the law requires any form of payment to a regulatory body, kindly comply and pay every necessary dues and get your government approval and license, in order to carry out your business smoothly.
Get a Good Location

Find a good location that will promote sales. Location close to the buyers will improve sales on a regular basis which will mean constant production that will keep you in business. Without demand, there would be no business therefore get a place with enough traffic to keep yourself ib business.
Safety of Lives and Property

Nigerians have no regards about this matter, they rely more on spiritual matters when asked to get insurance. It is important to note that safety of lives and property is as important as the sales you want to make. Therefore, fix every necessary gadget or appliance for preventing major disaster to your establishment.
Recruit the Best Staff

After your business plan, your staff are also important, therefore, make sure you recruit the best hands with relevant experiences on the job. The recruited staff should not be bakers only but also individuals who understand marketing and distribution in order to promote sales.

See also: Establishing a Profit-Making Fish Farming Business
How is Bakery Business Profitable?

Bakery business is profitable if you start up with the right capital, inculcate and promote good customer relations, have the right team working with you; that is a team that understands the level of business and so on and so forth.

To venture into the profit side of the business, take note of the following:
Bakery Products Sales and Distribution:

If your product has the right branding and it’s properly packaged with a delicious taste, people will buy it.

Make sure that your products are fresh and attractive fonts or images pleasing to the consumer eyes.

Your distributors can include wholesalers, retailers as they bring your products closer to the consumers
Offer Trainings

You can offer training to a number of persons and charge from as low as 20,000 Naira and if you have 10 students, that’s 200,000 Naira. This student can also help in production of more products after completing the training.
Offer Event Catering Services

This is the most popular avenue used to make money in Nigeria. A lot of event are usually held on weekly basis and most of them require services of bakers to provide them some tasty meals.

For example a wedding cake costs about 50,000 to 500,000 Naira depending on the number of tiers and decoration. This is also similar to small chops which can be priced at 500 Naira per guests. If your production and packaging is top notch you will get referrals and lots of events will be needing more of your services.
Go on TV Shows

You could have the opportunity to host your personal baking show on TV which could bring more sponsorship deals and brand endorsement, creating a total uniqueness to your brand.

To get to this platform, you must be ready to invest all, that is your time, money and so on but at the end it’s definitely profitable.

Be very open to criticism so you can correct mistakes and do not allow anyone tell you it can’t be done, constantly press on to be better on every side. Turn your business into a money making venture.

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