Livestock farming is a sector or industry with a wide range of business opportunities. The concept requires no introduction. Agriculture has always been one of the most important business options for many people since the beginning of time.
It provides individuals with a variety of business sources from which to launch a successful and profitable entrepreneurship venture. And the thing about agriculture is that it does not require any specific level of education or experience to be able to set up and become a professional in no time, though education will be beneficial.
Agriculture used to be the most appealing and reasonable business option for many people. Individuals used a plot of land and cultivated various crops there to feed their families and also to trade their farm supplies for something else they needed in a system known as trade by barter.
Soon after, specialization occurred, and people began to choose not to kill animals at random, but rather to domesticate them and watch them grow and reproduce in order to sell them. This type of farming is known as livestock farming.
Simply put, is the raising of animals for human consumption or commercial sale. Animal Husbandry, as it is also known, is one of the most popular agricultural businesses in the country today, with many entrepreneurs exploring various opportunities in the industry.
Livestock farming is also a major source of income for the agriculture industry, accounting for roughly one-third of the country’s agricultural Gross Domestic Product (GDP). It is a source of revenue for the government and provides opportunities for employment, food, and income.
Starting a livestock farming business is a huge undertaking. While it may be simple to write it down, doing the work is not always simple. It takes time for a business to be properly established and to begin operating normally.
Because of its difficulty, it also necessitates a high level of commitment and dedication. Entrepreneurs may need to put in more effort to ensure the success of their businesses. All of this may appear to make the business difficult and unprofitable, but no business is without challenges, and in the end, you’ll discover that this particular business is highly profitable if you work hard and do everything necessary to achieve the desired goal.
Livestock farming, like agriculture, is divided into the cultivation aspect, where individuals plant crops and send them to the market for sale, and the rearing aspect, also known as livestock farming, which involves breeding animals and selling them or products obtained from them to make a profit.
Entrepreneurs have a wide range of options from which to choose. All of these options involve animal rearing and are highly profitable, though the levels of profit vary.
Poultry farming is the first. This is at the top of the list because it is one of the most common livestock farming businesses in Nigeria. The poultry birds are raised solely for the purpose of producing eggs or meat. There are various species of birds, and individuals may need to work with a specific species. The business can also take various forms.
You can read the birds for eggs or you can rear them and watch them reproduce, after which the adult birds can be sold. This type of livestock farming is widely practiced, and its products have a sizable market. Furthermore, due to the high demand for the products, the profits from this business are always enormous.
Goat farming is another option. One of the most popular products in Nigeria is goat meat. Unlike poultry farming, the products of this business are goats, which can be slaughtered for their meat unless you are involved in other aspects of the business that may involve processing.
This is a type of animal husbandry that involves rearing and raising cattle from birth until they are ready to produce milk or meat. Cattle farming, like goat farming, is primarily for meat production, though milk can also be obtained.
As a cattle farmer, you can choose between milk and meat production, or you can do both depending on your financial situation.
Another popular livestock farming option is fish farming. Fish farming is unquestionably one of the most popular businesses in Nigeria today, not just in agriculture but in general. The fish market is well-known, and the product is widely consumed.
There are various fish species, and it is up to individuals to choose one and begin operations or begin running the farm based on the specie chosen.
Catfish farming is the most commonly ventured into business in Nigeria, and it is highly profitable. It is not easy to start a livestock business, and you may need a large amount of capital as well as a high level of hard work and commitment to get started.
The emerging pig farming business is the final type of livestock farming to be discussed. Although the industry is not widely known, it is one of the most important forms of animal husbandry. It is profitable and contributes significantly to the economy.
Pigs are well-known for their main product, pork. In many parts of the country, the product is popular. Pigs are known to reproduce prolifically, so it’s only a matter of time before a farm is overrun with pigs.
Aside from pig farming and the other forms mentioned above, there is also snail farming, which is a viable business option. Many people eat snails because they are nutritious. The market is also not well defined, but it is a business with a high potential for profit.
As an entrepreneur looking to start one of these businesses, it is critical to do some important things and follow the necessary procedures in order to have a better chance of success and enjoyment. In the following sections, I’ll go over the various steps involved in starting a livestock or animal husbandry business.
– Choose a specialty:
This is critical because most of the above-mentioned business forms have different species or something else that can be obtained from the business. Entrepreneurs must choose one to concentrate on. Most start-ups prefer to start small, so picking one rather than investing in everything is advised.
– Conduct extensive research on your area of expertise:
You’ve decided on a branch or form of business to pursue, so it’s up to you to learn everything there is to know about it. Have a thorough understanding of the animals, their feeding, how to care for them, and any other information required to be properly informed about the business.
Make a business plan.
Choose a location:
One thing that all animals have in common is that they need to be in a specific place or location. They will be cared for and raised properly from this point forward. You can’t just let them run around. Cattle farming, on the other hand, could be different.
Cows have traditionally been allowed to roam and move from one location to another, but ranches can now be built to accommodate them. This may incur additional costs, but it is the most secure option for the cattle.
Get them food, vaccines, and any other resources or supplies they may require. This is determined by the type of business chosen. At this point, equipment and machinery are also acquired. This is usually determined by the business’s capacity scale.
Make use of labor:
This is not strictly necessary, but it is recommended if you are running a large-scale farm. Begin operations by marketing and selling the product. Yes, there are numerous opportunities for entrepreneurs in the livestock farming industry.
It is not a simple or easy business to run because it requires a significant amount of hard work, skill, and dedication to succeed. It may be difficult to set up, but that won’t matter once you start counting your profits.