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How To Run A Profitable Poultry Farm
*Join Poultry Association of Nigeria (PAN), share notes, with willing farmers.
*Seek for grants and other government incentives such as loans and subsidies
*Re –invest profit for expansion but always know the status of your investment always.
*Avoid quick diversification. Focus on an aspect and don’t combine it quickly with non poultry farming until *you are set to take a curve out or in, or to undergo vertical integration or horizontal integration.
*Explore new market; generate more customers within and outside the state and even into the surrounding neighboring countries such as Niger republic, Chad, Central African Republic etc.
*Scale down cost. Reduce labour cost by utilizing cages, get a van to reduce dependence on transporters, obtain distributorship or sub distributorship from feed companies to buy feed at a discount prices
*Employ qualified personnel and pay commensurate salary
*Have a good knowledge of the business via training, seminars and reading
*Have a working knowledge of your enterprise through a workable business plan that present a projected cash flow, profit and loss account, break even analysis, organogram and other tools even before you start. This should be prepared by an experienced practitioner.
*Give your business minimum quality time before you give any space.
*Apply the 80:20 principles on your products, workers, customers and resources. It states that a 20% of any of those often give you 80% of your result. Discover that small fraction and devote 80% of your resources on them to get optimal result. Try reducing some of the unproductive 80%.
*Remember always that customer is the king, Strive to create them and satisfy them
*Work out a team out of the administration, workers, customers and partners. Ensure that each understand the benefit of the progress of the business.
*Envisage competition and hence plan ahead of them even before they emerge. Be innovative even in your poultry farming and marketing of your product; make your product unique
Project definition.
At the beginning of the project have a target on a scale you wish to operate. For instance one can say, “at full capacity, I will have 5000 laying birds or 50,000 or 500,000 laying birds”. With such in mind, you create a plan for land, capital, manpower, market etc and start off gradually possibly with a 10% trial phase and with the set land marks, graduate gradually to full maturation. Stop at full capacity and only start again under a new plan! Not to know when to stop, is an error and could be a source of failure. With set land marks, move only to the next level when you are at rest on the present level. This will also aid one when taking loans or bringing in investor to avoid biting more than can be chewed.
Management of Disaster.
Disasters could present itself as natural disasters e.g., avian flu, flooding, etc and man-made disasters such as national or regional crises, economic crises, etc. without an insurance cover, most farmers do not survive such disasters. National Agriculture Insurance Corporation, NAIC provides such cover and must be taken as a priority. Provide biosecurity measures in your farm to prevent outbreak of diseases.
Source: Practical Business Ideas In Nigeria Booked |
