Feed Mill Business in Nigeria
If you are planning on starting a good business, you can look towards beginning your own feed mill. Feed mill business provides animals with feed. For animals to grow, they must eat. And if you’re producing and selling animal feeds, then you have solved a need, which of course, will transmit into cash
Beginning a feed mill is one business that you can begin and make cool profits from only if the business is situated in a location that has a food supply of farms.
It is truth that any business in the Agric area stands the shot of making extremely tremendous rates of profitability if the business owner is not kidding about the business and he or she is prepared to go the extra mile in making the business work.
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If you are already versed in farming business, you will understand that there cannot be a diminishing demand for feed products, but instead the demand will keep increasing
Basic Considerations for Starting a feed Mill Business
One of the fundamental considerations while planning towards setting up a feed mill business is your capacity to successfully run feed mill with the understanding of the correct feed supplements and the extent required for different farm animals. After that, you can then proceed to set up the feed mill.
In all actuality, and in the event, that you get the feed mixing wrong, it will have a negative effect on farm animals which may result in stunted growth and development. For farm birds, egg production may drop drastically. In severe cases, there may be massive death of farm animals. Of course, your customers and clients will not be happy with you.
That is the reason you should properly prepare and obtain a good level of training in feed production and management, as well as general feed mill business operations workflow to have the capacity to viably run your feed mill successfully.
Presently, let us consider the 7 stages to take after as per capacity needs attainments for effectively running a feed mill business from the scratch.
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The 7 Stages In Feed Mill Business Capacity Needs Attainments
- Conduct Proper Research and Feasibility Studies
Your first port of call in your quest towards beginning your own feed mill is to conduct proper Research and Feasibility Studies on feed mills around and away from your vicinity.
You would need to know whether the area you intend setting up your feed mill business is compatible enough and also, the possibility that you stand to make profits for your venture after some time.
Your Research and Feasibility studies will empower you with concrete information on the cost estimates for beginning your feed mill business, and how to shop for market.
Of course, people don’t eat animal feed but the farm animal does – so you should position your business vis-à-vis the market acceptability and availability.
- Get Education and Training
Beginning a feed mill business requires some level of education and training on feed mill production and other things in general farming and animal husbandry.
You can simply enroll for universities, school, colleges, training colleges offering any related course with the goal that you can enlist and become acquainted with the nitty-gritty of animal feed production and general feed mill business.
It will likewise be to your advantage if you understudy somebody who is currently running his or her own feed mill.
- Draft Your Business Plan
Another vital stride that you have to take on your journey towards starting a feed mill business is to draft a feasible marketing strategy or business plan.
Truly in a situation that you don’t have a decent and workable strategy for success set up before beginning any business, you are likely going to battle to develop the business.
The rule of thumb has it that any business owner who takes the effort to draft a strategy for success before beginning his/her operations has already gained 50 percent edge to prevail in the business.
So, ensure that you draft your own animals feed mill business plan, for success before kick starting the business.
- Enlist Your Business and Obtain the Required License
Since you have decided to begin your own feed mill business, then you should go the extra mile to enlist your business with the government, in this case, Corporate Affairs Commission of Nigeria, CAC, and afterward acquire the important license required to operate a feed mill.
It is reality that the administrative body accountable for animal farming and feed mill operations won’t issue a permit to any business that is not lawful to go into feed mill production.
You can contact your lawyer to help you with your business enlistment; it is simpler and quicker when they handle it for you as against you doing it without anyone else’s help.
- Secure a Good Location for Your Feed Mill Business
You would require a decent area in the country for such business.
So, ensure that you liaise with your land agent or your nearby expert to make sure that you picked the correct area to begin your own feed mill.
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You would require an open office that will house your machines and equipment, raw materials and processed animal feeds.
- Get the Needed Equipment and Machines
When you might have secured a decent and open area that fits into your feed mill business plan, then you ought to proceed to procure and introduce the required supplies and machines for your feed mill factory.
Something that will give you an edge in the commercial center is your branding and marketing. So, ensure that you focus on your branding and marketing.
The structure of your feed mill must be plainly expressed in each pack and it must be all around marked.
- Brand and Market Your Feed
You would need to build up a special marketing and promotion strategy as a beginner in the feed mill business if in fact you need to make great profits from your venture.
The likelihood of contending with other feed mill makers can’t be precluded because before you came in, there have existed others in the area with years’ experience who have been servicing the farmers. Even if you’re the only cock to crow in that area, you are not the only one selling in the entire market.
As a component and complement of what you have to do to win your own share of the current market in your general vicinity, you would need to think of a pleasant marketing idea/strategy for your feed mill business. There is no harm in setting the pace for others to follow!
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