Livestock farming is a lucrative field of farming. It involves breeding animals for the sole aim of consumption and making profit for the business owner.
More entrepreneurs are venturing into this business due to its profitability. Moreover, as long as humans exist, the need for food will never go into extinction. Because the two major food sources for man are crops and animals, this business will always thrive.
If as an SME in Africa, you’re considering taking this business route, here are essential steps to get you started.
Steps To Help You Start Your Livestock Farming Business
1. Decide What Animal You Want To Rear
Going into livestock farming as an SME in Africa requires adequate knowledge of what animal you want to rear. A great way to effectively go about this is by understanding what rearing each animal type entails. What are the advantages and disadvantages? What is the cost of starting up? How profitable is it to rear each animal type?
Having answers to all these questions will help put things in perspective and set you in the right direction. Let’s take a look at some types of livestock farming:
- Pig Farming: Of all livestock farming to venture into, piggery is one of the most profitable. Pigs reproduce fast, birthing as many as 24 piglets in a year. Also, they produce more meat when compared to some other livestock and experience the lowest mortality rate.
- Rabbit Farming: Rabbits can be reared for several purposes such as meat, fur for cloth manufacturing, and skin for leather production.
- Poultry Farming: Poultry farming is one aspect of farming that produces a high yield without requiring that much start-up capital. This aspect of farming has several benefits. With poultry farming, a license can easily be acquired, and it requires lower maintenance when compared to other livestock farming.
- Goat Farming: The demand for goat meat in the market is pretty much on the high side. This factor makes it a lucrative field to venture into. With goat meat, however, you might have to put up with its unpleasant smell.
- Fish Farming: If you are on the lookout for farming that has no environmental hazards, you might as well consider fish farming. With fish farming, you are sure to experience a steady growth pattern while rearing different fish species. Another advantage of this type of livestock farming is that it comes with stable demand and supply.
- Cattle Farming: Cattle farming is the most expensive and also brings in the highest return on investment. Cattles can be reared for meat, milk, fertilizers, livestock feeds, manure, e.t.c.
Adequate knowledge of the various types of livestock farming will help you decide which animal you want to rear.
2. Write A Business Plan
Venturing into livestock farming requires having a well-structured business plan. In your business plan, you must answer questions such as:
- What type of animal you want to rear
- How will you convert the business to money?
- Who are your target customers?
- How will you reach your customers?
- What amount do you expect to generate from the business within a stipulated period?
- What challenges are you likely to face and how will you overcome them?
Having a business plan is essential to running a successful business.
3. Find A Location
Location plays a key role in the success of any business. To determine your farming business’s best location, decide whether you’re going into a large or small scale farming.
Ensure your location is easily accessible by common means of transportation. Also, try as much as possible to locate your business in an area where the road is not too bad as this can affect your livestock’s transportation.
4. Register Your Business
Before starting any business as an SME in Africa, it is important to register your business with the authorities in charge. Registering your business not only protects your brand, but it also grants you the luxury of effectively structuring your business for productivity.
5. Get Your Equipment
The growth of your livestock business is also tied to your access to the necessary pieces of equipment. Some essential equipment includes: livestock trailer, corral system, headgate, water tanks, e.t.c.
Having these facilities readily available will help to boost your business as well as keep your livestock safe.
6. Feeding
Just as humans require food to survive, food is also a necessity for livestock. If you consider rearing animals that feed on plants, ensure you’re situated in an area with lots of grasses. Bearing this in mind will help you reduce the cost of food and other supplements.
When livestock is well fed, they grow and perform like they are expected to. However, you should have a clear understanding of the type of feeds and the ratios at which livestock should be fed.
7. Have A Marketing Structure In Place
The goal of every SME in Africa is to make profit. Having the best livestock situated in the best location is not enough. You need to put some marketing strategies in place to help market your produce.
You can advertise your products to let people know what you are into. You can also build your network by attending events or even creating an online presence for your business.
Conclusion
The first step towards running a successful livestock farming business is by taking advantage of the tips above. While this field of farming is lucrative, it requires dedication from your end to make it work.
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