Do you want to start your own poultry business and you want to know the cost of starting one?. Then grab a cup of coffee and read on.
In this article, I will explain how to start a poultry farming business idea in Nigeria even with little funds. And also show you how to finance the poultry business idea.
The Cost of Starting a Poultry Business
There is no fixed cost you should be looking at before you think of starting your poultry business plan in Nigeria. You can start even with capital as little as ₦20,000 and your business will boom if well managed.
When I wanted to start my own poultry farm I met people who were already in the business. They all started the business with little funds and later increased their production of meat or eggs from the profit they made doing the business.
Also, the cost of raising broilers is not the same as the cost of raising turkey, duck, goose, roaster, or pullet.
Lastly, your preferred method of poultry farming can be less demanding financially; as you can choose between intensive farming and free-range.
For more detail understanding of intensive farming and free-range farming read this article Poultry Farming.
What is required to run a poultry farm business
As a poultry farmer, you should ask yourself before spending your funds; what is require for poultry farming business?. This will give you an insight into the business and also help you know how to plan your funds. Hence you don’t get stuck halfway into the business.
Poultry birds are generally raised for their meat and eggs and the cost for producing meat or eggs is not the same.
If your intended farming business plan is to raise chicken for its meat; you can check this article on Poultry farming business plan & cost implication.
So, these are possible expenses you should be looking at as a new poultry farmer and they are:
- A piece of land for the poultry
- Building the henhouse
- Deciding on the types of breed
- Poultry feed
- Managing the health of the birds through vaccines
- Buying other equipment (Heater, Feeder, water pot, etc.).
How to start and finance a poultry business Idea
It is important to know that the broiler birds is the most demanded poultry bird in Nigeria. Similarly, egg production is also in high demand by cosmetic firms and bakers in Nigeria.
So we can conclude that as a new farmer the type of poultry birds you should be thinking of raising is the chicken.
There are several types of chicken breeds (broilers, layers Cockrel, and many more).
Once you have decided to go with the chicken farming business, you will have to decide between producing meet only or egg or both. Hence this depends on your financial abilities.
Since you already know what is required to start the business as I have explained earlier; you will need to do the following.
- Build your structure
- buy all the needed equipment
- chose between the broiler or layer breed.
How to finance your Poultry business
This is usually a major concern if you don’t have the funds to raise the chick or secure a location.
I was faced with a similar situation when I was starting my poultry business. But I relied on my parent for the funding of the business. We became partners and built the poultry business to worth ₦400,000 in investment; within two years. And the start-up investment was less than ₦100,000.
If securing location is the problem, you can start the business from home with the little funds you have. I did the same also.
How to source for funds?
These are several ways to sources for funds and finance your poultry business ideas and they are as follow:
- Friends and family
- Bank Loans
- Request for small business grants from the government.
Feel free to drop your comment or ask a question in the comment section.
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