Looking to download a standard goat farming business plan in Nigeria for grants, loans such as CBN, NIRSAL, BOI and other institutions?
This plan can be used for grants application, loans, etc
The goat farming business yields a lot of profit, it is a business characterized by high returns, a lot of people around the world are making a lot of money with this business.
The business is feasible, but however in order to maintain a successful and sustainable goat farming business, substantial knowledge is required to raise the goats efficiently, manage the business well and also write out a good business plan. This article is written solely for these purposes.
The lucrativeness of the business is undoubtedly glaring, serving as a source of income for lots of people, but some things are essential and have to be considered before you foray into this business with the aim of yielding returns. The size of the project has to be detailed and determined forehand according to the capital intended to start the business i.e. the number of goats you want to keep; a location has to be sought prior to starting this project, and also the identification of your market; the target market has to be identified prior to starting the business. The amount of capital you have and the size of your target market will determine these choices.
However, having a small capital shouldn’t deter you from foraying into this business as you can always start on a small scale and grow your project to a larger scale over time. You also need to carry out market research which should encompass who you are selling the goats to, at what price and how the goats will get to them. Ensure to write a goat farming business plan before you start the goat farming project.
What you need
- LAND FOR GOAT FARMING PROJECT
For the installation of the goat pens, an area with a capacity large enough to house the goat and their needs is required. An assessment should be conducted on how suitable the land will be for the housing of the goats should be conducted. The pen should be sited in an area that has access to good roads to minimize transportation costs. This will also give the farmer easy access to and from the goat farming project.
Clean water also is a factor and should be available in its purest form to both human and animals for their consumption and use, this can be achieved by drilling boreholes and digging wells, or channelling water from water bodies like dams and rivers. And in a case where occasional scarcity of water cannot be averted, a reservoir should be built. Goats are liberal animals and will tend to try to leave the farm, this can be checked with the erection of fences, and these fences will also serve as a barrier and protect the goats from predators and thieves.
Goats are browsers and don’t do much of grazing, but still, they need pastures to graze on, they still need to be paddocked. The farmer can adopt a rotational grazing method on his paddock to avoid over-usage of pasture and the growth of forage that is not desired for the consumption of the livestock by the farmers. This means that you should allow your goats to graze on one pasture while the other pasture is left to fallow.
2. HOUSING AND EQUIPMENT FOR THE GOAT FARMING PROJECT
Good housing is very important towards attaining success and also a factor for profitability in the goat farming business. The housing isn’t cost-bearing as goats adapt very well to different environments, but should always have good ventilation and a dry floor. The housing should provide shelter from sun, rain and other atmospheric conditions. Extreme temperatures reduce the productivity of goats. Poor ventilation may allow the circulation of harmful gases which might lead to respiratory problems.
The materials that can be used for the construction of goat pens for your goat farming project can vary from clay bricks, wood, concrete blocks to any other suitable materials that can act as a fort against environmental hazards. Irrespective of the material you use to construct the goat pens, you should ensure that enough space is available for the goats, plus proper ventilation.
Feeders and drinkers are required for the feed and water for the goats. Your goat rearing business plan should outline the costs of housing, equipment needed and whatever bears the cost for your goat farming project.
3.0. BREEDING STOCK FOR THE GOAT FARMING BUSINESS
You require a breeding stock for the rearing of goats for profit. The breeding stock consists of male goats which are known as bucks or billy-goats, and female goats which are known as does or nanny-goats. When choosing breeding stock for goat farming business, you should be very careful of the history of the goats mostly in terms of health complications, fertility, characteristics and reproduction capabilities. It’s advisable to purchase the breeding stock from goat farmers who already are notable for owning breeds with nice qualities in the goat production business. The goats which you select should be strong with an overall appearance of good health. Request to see the records of the breeding stock which you want to purchase. The growth of your kids depends largely on the quality and characteristics of the parent stock. Thus the need to buy a good goat breeding stock from reliable goat farmers can never be over-emphasized. The goat farming business plan should also include the cost of buying the breeding stock.
4.0. BREEDS OF GOATS
There are different breeds of goats which are used specifically for commercial goat farming. The popular breeds for goat meat production are the Boer Breed, Spanish breed, Black Bengal, Kalahari, Rangeland among others. The Boer Goat is a highly productive meat breed and is tagged as a superior breed most times. This breed natively originated from the Eastern Cape in South Africa and it’s more expensive than the other breeds. A good Boer buck that is between 6-12 months can mate 25 does successfully while a full-grown buck that is 13 months old can mate 50 does in a year. The Boer Goat earned its tag as a superior breed because it possesses a good bone structure, large body size, grows fast, heavyweight and can easily adapt to a wide range of pastures. Some farmers cross breed a superior breed e.g. the Boer Goat with indigenous breeds. This is in order to get the right quality of offspring with good meat quality, resistant to diseases, health and adaptable to various pastures.
5.0. FEED FOR THE GOATS
Feed is the largest cost of running a goat farming project. The most economical source of nutrients for meat goats are browse and pasture. In some cases, pasture and browse will be sufficient to meet the nutritional requirements required by meat goats. Goats are browsers by nature, they are not grazers. However, they will also eat grass. A suitable area for the goat farming project should have a dense vegetation especially of low bushes. Goats enjoy to browse materials like trees, bushes, twigs and leaves.
Even though goats will browse and feed on pasture, you will have to give them supplementary feed that would improve their quality and aid their growth and fattening process for you to be profitable in your goat farming business. Sufficient pasture might not be accessible to the goats throughout the year due to changes occurring in seasons. To enable goats to grow fast and reach their full growth potential in a short time, you will have to give them supplement their feed. There are various kinds of supplements you can feed your goats including hay (lucerne), grains (e.g. wheat, oats, maize, sorghum, barley etc.), commercial goat feed, minerals and salts. The goats also require sufficient water. The goat farming business plan should take into consideration the feed costs.
6.0. CAPITAL FOR A COMMERCIAL GOAT FARMING PROJECT
Starting a goat farming business, like any business, requires capital. The capital is required for all the processes to be carried out from the construction of the goat housings, acquisition of the breeding stock, provision of the supplementary feeds and other costs of running a goat farming business.
The capital needed for your goat rearing business will depend on the size of your goat farming project. Your goat farming business plan should clearly outline the money required to start and run a goat meat production business.
You can seek loans from banks, or funding from investors, to gather the capital to start your goat farming business. If you plan to raise capital from investors and a loan from the bank, you need to put together a detailed and comprehensive goat farming business plan. If you don’t have access to investors and a bank loan, you can use your personal savings and start small, and grow your business over time. Goat farming is very profitable, so if you reinvest the profits you get, you can quickly grow. Even if you are not planning to get a loan, you should still get a goat farming business plan to guide you in starting and operating the business. It is necessary to possess a goat farming business plan before you start the goat farming business so that you know all the costs involved and you make good and informed decisions.
7.0. MANAGEMENT AND LABOUR FOR A GOAT FARM
The workforce you require for your goat farming project will depend on how big your goat farming project is. You will need goat keepers who will be responsible for catering for the goats which will entail feeding and cleaning the goats and also disinfecting the goats’ stead and housing, and other duties. The need for a finance and marketing team will solely depend on the size of your goat production business.
Your goat farming business plan should take into account the costs for the payment of all the people that will be employed.
Goat meat is largely consumed nationwide and this contributes to its huge and steadily increasing market. The annual global demand of goat meat is about 4 million tons, which obviously is a lot.
The target market can be narrowed down to abattoirs, local butcher shops, meat retailers, hotels and relaxation centres, supermarkets, restaurants, wholesalers and consumers. The need to sell the meat while it’s still fresh, as this is best for your reputation makes it a must and very advisable to have your farm situated not too far from your market.
Goats are reared for a lot of purposes, they could be kept for their meat -which is mostly why they are kept in this part of the world, their milk, some species are kept for their hair, some are kept for fibre.
The export market for goats is also very huge and is only available for huge farms, as you grow your goat farming business you will be able to export the goat meat to other countries. The largest importers of goat meat include Indonesia, Caribbean, South Korea, Angola, United Arab Emirates, Middle East, European Union, Malaysia, United States of America, Brunei, Taiwan, China, India, and Singapore.
For an in-depth analysis of the goat farming business, we encourage you to purchase our well-researched and comprehensive goats’ business plan.
9.0. USES OF THE GOAT FARMING BUSINESS PLAN (PDF, WORD AND EXCEL)
The goat farming business plan can be used for many purposes including:
Raising capital from investors/friends/relatives
Applying for a bank loan
Start-up guide to launch your goat production business
As a goat farming business proposal
Assessing the profitability of the goat meat production business
Finding a business partner
Assessing the initial start-up costs so that you know how much to save
Manual for current business owners to help in business and strategy formulation
CONTENTS OF THE GOAT FARMING BUSINESS PLAN (PDF, WORD AND EXCEL)
The goat farming business plan includes, but not limited to:
- Marketing Strategy
- Financial Statements which includes monthly cash flow projections, income statements, cash flow statements, balance sheets, break-even analysis, payback period analysis, start-up costs, financial graphs, revenue and expenses, bank loan amortization
- Risk Analysis
- Industry Analysis
- Market Analysis
- SWOT & PEST Analysis
- Operational Requirements (Including technical aspects of how to keep and rear the goats, feed requirements etc.)
- Operational Strategy
- Mistakes to avoid
READ- STARTING A CASSAVA BUSINESS, LOOK AT THIS BUSINESS PLAN.
How To Download The Full Goat Rearing Business Plan Template PDF (with financial analysis)
Above is a part of the Goat Rearing business plan template in Nigerian. IF you need the complete business plan, follow the procedures to download it.
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