Following on the last article of this series, where we covered livestock feed production and equipment leasing among other things part 2 brings in other innovative ways of making money from Agriculture with minimal startup capital.
Before you decide on an idea, create a business plan that includes research on market demand for the products you grow and how to get them to the market. You’ll also need a proper financing plan, as most agricultural businesses require access to large area of land and farm equipment to get started.
Below compiled are five profitable agriculture business ideas which can help those entrepreneurs in deciding their preferred business to start with and make money from within a very short period.
- Vegetable Farming
Vegetables are one of the highly consumed food items in the world. Starting a vegetable farm is one of the simplest and easiest businesses in the world with a high profit margin of up to 500%.
2. Compost Manufacturing Business
This business can be started with minimal investment all from the scraps in your kitchen, wether vegetable scraps egg shells etc.
3. Flour milling
You can start your own flour milling business and start converting grains like wheat, corns, millet and cassava into flour. Wheat flour is a product that is in high demand in the baking industry. Flour milling is something you can do from the convenience of your home if you have a small space that you can mark out for it. If you do not have space within your home, you can rent a small space and start from there and as your business expands, you can opt for a larger space. You can easily get wheat, corns, millet or cassava from local farmers, and then learn how to process it and make it into flour. Some of the procedures include cleaning, grading and separation, tempering and then grinding the wheat.
4. Fruit Juice or Jam Production
Our fore-fathers used to make their own jam and fruit juice at home by themselves before some smart investors recognized the business potential of these items and started making processed and packaged fruit juice and jam for sale. As a young entrepreneur, you can start making your own fruit juice or jam and supply them to supermarkets and food stores around you. There is huge demand for natural fruit juice now as more people are now learning how to eat healthy and avoid artificial and overly preserved foods and drinks. You can buy fruits in large quantity from local farmers and make your own natural healthy fruit juice at home.
5.Cashew Nut Processing
Cashew nut processing and packaging is similar to groundnut processing, the only difference is that cashew nuts are more expensive and difficult to get than groundnuts. Raw cashew nuts are readily available in local village farms and markets where you can purchase them, bring them home for processing and packaging and sell them at a good profit.