If there is a livestock business that has gained wide acceptance among Nigerians, it should be poultry farming business. The potential this business has to improve the lives of Nigerians is not in doubt. However, with the rise in the number of Nigerians entering into this business comes the responsibility of doing things right. You might want to take this seriously because while it is a very profitable business, the attendant risks are also high. A poultry farm infested with disease can witness a mortality rate as high as 100 birds in a day! So, what is the profitability of poultry farming business in Nigeria?
The Potential for Profitability
Poultry farming has become huge business in Nigeria. This is mainly due to the increasing demand for poultry products among Nigerians. In fact, due to the rising demand for poultry products, Nigeria still imports poultry products. These imports make up for the shortfall in demand. Some of the imported poultry products comprise of frozen chicken, turkey and eggs among others.
From this little analysis, it is evidently clear that the potential for profitability is very high. With the right knowledge, investing in poultry will yield impressive profits to the farmer.
The Branches of Poultry Farming Business
Poultry farming has different sub-divisions. Therefore, any individual willing to embark on this line of business needs to clearly define what area he/she is interested in. The term poultry farming is an all-encompassing word used for the rearing of birds of different kinds. The main ones are ducks, chicken, turkey among others. These are raised either on a subsistence level or on a commercial scale.
This article focuses more on commercial poultry farming. In Nigeria, commercial poultry farming largely consists of rearing of chickens. Production of eggs is also part of commercial poultry farming business.
Making your choice is as important as making your mind to start a poultry farm. Poultry farming in Nigeria as earlier mentioned mainly consists of rearing of chickens. You will have to select the type of birds to rear. These are mainly grouped in two; the broiler and layer. Broilers are mainly fattened and once they reach table size, are sold to the open market. Layers on the other hand are reared for eggs.
The chickens are sold to the open market after they might have become exhausted, or spent. Choosing your most preferred bird type needs you to have the required competence. Both of these are very lucrative.
Peak Seasons Vs Off-Peak Seasons
This is very important to the profitability of poultry farming. By peak season, we mean period of festivities. These are typically during Christmas, New Year, Salah, and Easter periods which are the major ones. During these times, there is an increased demand for poultry products. Broilers chickens form the bulk of poultry birds demanded during these times. However, during peak seasons, the demand for poultry products such as eggs increases due to baking of snacks which include chin chin, doughnuts and cakes.
The demand for poultry products is not only restricted to festive seasons, as there is also demand during off-peak periods. Whatever the occasion, you are sure to be patronized. However, patronage is usually higher during peak periods.
In establishing a poultry farm, expenses are a necessary component. But why talk about expenses when we are concerned with profits? This may questions some people may or may not ask. Expenses are a precondition to profitability. Putting this in a better way, calculated expenses result in profitability. It means allocating resources (in this case financial) where it is most needed. For a poultry farming business to be well positioned for profitability, the following expenses are necessary;
Feeding (Purchase of Feeds)
This constitutes a significant part of the total expenditure for any poultry farm business. The birds need to be fed adequately from day one to the day they are eventually disposed. Sufficient capital is needed to achieve this, as anything short of adequate feeding will result in stunted birds with low productivity and growth.
Purchase of Equipment
Most of the equipment used in poultry business consist of the feeders, drinkers and other related equipment. It is necessary that you ensure that all this are put in place. Failure to do so will affect the development and growth of the birds. The spread of disease is even likely.
Medications and Vaccination
These are an integral part of poultry farming. Doing this right will sure impact on the profit potential of the business. In essence, there is a strong relationship between profits and expenses. Expenses well spent are likely to have a positive impact on profitability. However, not getting this right would likely inhibit any chances for making profits.