If you are looking for opportunities in the agriculture industry, the most profitable agribusiness ideas for young entrepreneurs in Nigeria are some of the best options to choose from! Traditional agriculture might not sound too appealing to the youngsters of today, but the modern agriculture has diversified into many areas which make for lucrative avenues that just might be their thing. And, contrary to popular belief agriculture is one of the most remunerative business which can also be a glamorous one.
For starters the investment costs are generally low, and the payouts are decent. While, with organic farming coming into vogue, the opportunities have grown manifold. Agriculture might actually prove to be a way of life, away from the cut-throat competition and stressful corporate life, for the driven youths who aren’t afraid to tread the offbeat path.
However, an agribusiness does not necessarily mean you have to get down to actual farming. Some of the suggestions and ideas we have for you can well be undertaken indoors and relate to the allied areas of agriculture. Most of them can also be undertaken with little or no training. Just some do it yourself guides and a keen interest can get you started. And, they might actually prove to be great avocations along with vocations. Intrigued? Here, check out the list of the most profitable agricultural business ideas for young entrepreneurs!
1. Vegetable Farming
Spinach, lettuce, pumpkin, broccoli, cabbage, and cucumber etc, are all vegetables that are consumed in every part of the globe and can also be cultivated in every part of the world. This goes to show that there is a very large market for vegetables. So, if you are looking towards starting an agricultural crop cultivation business, then one of your options is to go into vegetable farming.
2. Mushroom Farming
Mushroom farming is one of the most profitable agribusiness ideas for young entrepreneurs, which has a turnaround period of only three weeks. Yes, you heard that right! And, it has huge profit potential with demand for good quality and organic mushrooms being high among restaurant owners as well as households.
3. Transportation Business for Farmers
One of the challenges most farmers encounter is the lack of means of transportation to get their farm produce from their farms to the market. You can start a farm transport business to help farmers sort their transportation needs for a fee.
4. Livestock House Construction
Constructing poultry house, dairy farming cubicles and other such farming structures for use by farmers to rear their livestock.
5. Poultry equipment manufacturing
These are usually skilled artisans who construct various equipment needed on the poultry farm – welders, carpenters, electricians etc. You can learn the various specifications needed for the poultry equipment and you are in business.
6. Chicken and egg distribution business
This basically involves bridging the gap between poultry farmers and the consumer market. It is very lucrative and requires relatively little money to start-up. You can focus only on chicken, eggs or both. You meet poultry farmers, buy their stock and resell them in the market to wholesalers and retailers. It does not need any special skills, only your marketing abilities and a working vehicle.
7. Fertilizer Distribution Business
If you like the idea of making a profit by helping people work with the soil, you might enjoy being a part of the fertilizer industry by starting fertilizer distribution business. Entrepreneurs can initiate fertilizer distribution business with a proper selection of products from any location. Find suppliers willing to do business at a suitable price in your area. Obtain quality products at a reasonable price from a reliable source. You can go for import also in the case of bulk purchase. In fertilizer distribution business, the source you choose will depend on your start-up budget.
Another very good business for young entrepreneurs is starting a hatchery for eggs and selling day-old chicks to poultry farmers. It is a highly profitable business and your return on investment is very quick. The poultry industry is one of the fastest growing sectors in the world. You can start with very little money and you can start generating an income within 3 weeks from starting.
- Agriculture Consulting
As with other consulting services, agriculture consulting requirement is surely expected to grow with coming days. People with experience and knowledge in a specified field of farming activity can consider offering consulting services to organizations and farmers.
10. Livestock Feed Production
This business is small scale manufacturing. Having confidence in distribution, one can start this business to make money out of livestock feed production.
11. Fodder Farming for Goats and Cows
Fodder is any agricultural foodstuff used specifically to feed domesticated livestock, such as chickens, horses, pigs, cattle and goats. The term refers to food given to animals, rather than the food they forage for themselves.
12. Vermicomposting-Organic Fertilizer Production
Vermicomposting organic fertilizer production has now become a major component of agro-business models across the country with a very low initial investment. An entrepreneur can start this business with the proper know-how of the production process.
13. Fish Farming
Commercial fish farming business is a lucrative investment that can spin money at any time of the year continuously. With the implementation of modern techniques and having owned space, an entrepreneur can start this business with moderate capital investment.
Having a sufficient landholding an entrepreneur can start a piggery business. Among the various livestock species, piggery is most potential source for meat production and pigs are more efficient feed converters after the broiler. The major facility is pig farming requires a small investment in buildings and equipment.
15. Planting Service
If you don’t have your own farm but still want to build a business centered on planting crops, you could start your own planting service and work with other farmers or growers in your area.
16. Recruiting agency for Farmers
Most farmers suffer from a shortage of literate, low-level farm labor on their farms. An agency which helps farmers to easily and quickly recruit young, intelligent and literate labor for middle to long-term positions on their farms would be a huge hit.
17. Agro tourism
You could also offer a whole tourist experience at your farm where people can come visit and maybe even stay as part of a bed and breakfast type of experience.
18. Honey Business
You don’t need to have your own bee farm for you to start a honey supply business. You can source for and purchase honey in big jerry-cans from local farmers and sell in small quantities.
19. Firewood Production
If you have trees on your land, you could use sell the firewood to those who need it. Creating a long term sustainable business would depend on expanding the amount of land on which you can harvest trees and also systematic replenishment through continuous replanting.
20. Tree Seed Supply
You could also harvest seeds from different trees and sell them to people who want to plant new ones.
21. Agricultural Equipment Rental
If you have the capital to purchase farming or agriculture equipment, you could start a business where you rent or lease that equipment out to farmers.
22. Fruit juice Production
Fruit juice production business has the huge market opportunity. Most important thing is the production process is not that complex and can be initiated small-scale basis.
23. Fruits and Vegetables Export
An entrepreneur can start an export business of fresh fruits and vegetables by collecting them from local farmers. One can start this business from a home location only having a phone and computer with internet connection.
One of the very profitable agribusiness ideas. Having a retail space and connection with the flower grower’s one can start this business. An entrepreneur also can generate a substantial online sale by offering customers door-step delivery.
25. RABBIT PRODUCTION
Rabbit production can be lucrative for an entrepreneur who has passion for animal husbandry. It is not expensive to start up. All you require is good knowledge in animal rearing. Rabbits are prolific in nature and have low mortality rate. Rabbit meat is highly in demand as it is medically recommended over red meat. Rabbit production can be lucrative for an entrepreneur who has passion for animal husbandry. It is not expensive to start up. All you require is good knowledge in animal rearing. Rabbits are prolific in nature and have low mortality rate. Rabbit meat is highly in demand as it is medically recommended over red meat.
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