10 Agricultural Business Ideas That Can Make You A Millionaire In One Year
Looking for lucrative business ideas in the agricultural industry? You have come to the right place.
Our list of agricultural business ideas will get you started.
For starters, the investment costs are generally low, and the payouts are decent.
All it takes is hard work, dedication and, of course, the right idea. You supply the first two; we’ll give you the ideas right here — for free!
Many people assume that there are few agricultural ideas out there for consumption. This is untrue.
From our overflowing cup of agricultural business ideas, we will be sharing the top 1o agricultural business ideas that can make you a millionaire in one year.
Without wasting time, let’s have a look at the 10 agricultural business ideas that are highly profitable in Nigeria:
Here Are 10 Agricultural Business Ideas
1) Agro-Farming Online Training:
A lot of people will pay you so much to learn from your expertise in farming/agriculture related activities.
With the right tools at hand, you can start a paid membership based online training series in any area of agriculture you are knowledgeable about including snail farming, fish farming, fertilizer production, etc.
A combination of blogging, practical videos, and live sessions will get you started and with time, you can improve on your teaching methods as you receive responses from your students. This is one of the agricultural business ideas that you can start.
2) Online Grocery/meat shop:
In today’s sophisticated world, convenience has become a real business opportunity. And that’s where you come in.
With careful planning and research, you can set up an eCommerce shop that sells foodstuff like rice, beans yams plantain, potatoes, onions, pepper, oil etc.
These items can be bought in bulk, cleaned and packaged in specific portions and sold directly to end users. Many people who are unable to find time to shop will be relieved to know that they can just place an order online and their foods will be delivered.
3) Fruit Salad & Juice processing and Production:
This is the new kid on the block. You probably have noticed it. Have you?
As an entrepreneur, you can start making your own fruit juice/salad and supplying them to supermarkets and fast food joints around you.
All you need to do is buy fruits in large quantity from local farmers, process them into marketable forms, package them beautifully and seek a viable distribution channel.
Ensure that you register your business and adhere strictly to all health safety practices.
4) Flour Milling:
You can invest in building a small flour mill for yourself at home or a rented space.
The initial costs aren’t very high and with a little amount of training you can start milling grains wheat and corn into flour. Local bakeries and patisseries might be a great target market.
Flour milling business has many diversified fields. Almost all the junk foods we eat these days are made from flour; Cake, Burger, Pizza, Doughnut, name them, are all made from flour.
Nonetheless, unless you have worked in a flour mill before now, you need to get the basic training on how to handle the machinery used in the grinding and further production of the raw materials into finished flour.
Please ensure that you get certification from the food safety department closest to you. Also, remember that the branding is an essential component of your flour production process.
5) Frozen Meat Production:
A lot of Nigerians will rather buy frozen meat from the nearest store than buy from a butcher in the market.
Despite the availability of imported frozen meat, customers are still more comfortable with locally packaged frozen meat (Fewer chemicals, I guess).
With a little startup cost and purchase of a good refrigerator, the sky is only the limit. Just seek out a constant supply of fresh meat from a farm and your business is good to go.
6) Fish farming:
fish farming is a highly thriving and profitable business venture and a lot of Nigerian entrepreneurs have made their fortunes from it.
Within your little well planned out space, and availability of a few modern equipment, your farm will be up and running in a short time. However, you need some training on the subject matter before you dive into this business.
Some business owners have stated their love for the artificial breeding, hatching, and rearing of the juvenile forms of fishes before they are sold to fish farmers who rear them in larger ponds. That is called Fish Hatchery and it is a viable alternative to fish farming.
7) Poultry Farming:
This is a business you can start from the confines of your house, with as low as 50 to 500 birds, and subsequently grow to become a multinational agro company delivering eggs and chickens to your customers.
The good news is that technology has made it possible to operate a profitable poultry venture in your neighborhood, without the bad odor been a nuisance to those leaving around you.
8) Leasing of Agriculture Equipment:
Truth be told, this is highly capital intensive but profitable nonetheless. A lot of agricultural startups do not have the capital to buy necessary equipment for farming but you do.
Why not invest in this equipment and lease them out at a good price for a predefined period of time. This practice is common in the construction industry and it sure pays well.
9) Livestock Feed:
Livestock feed is any agricultural foodstuff used specifically to feed domesticated livestock, such as chickens, horses, pigs, cattle and goats.
The ingredients required are mainly, maize, grass, clover, barley, soya beans, fish bone, sorghum, groundnut, blood meal, wheat, rice shaft, additives etc.
As an interested investor, you can start producing livestock feed.
To start a livestock feed production business, you will need a grinding machine, mixing machine, weighing machine, customized packing bags and raw materials for production.
The production process is not so difficult and you can employ more hands as soon as business starts thriving.
10) Fumigation Services:
Do you know you can make your millions by killing rats, cockroaches, bed bugs, mosquitoes, and all forms of pests?
The interesting fact about running a fumigation company is that your services are not only demanded by farmers and agro-based facilities, hospitals, churches, prisons, corporate bodies, school hostels, etc. are all in demand for your services.
So what is keeping you back from getting the appropriate training, a government license and start your fumigation business?