The agriculture industry is one of the major contributors to the world’s GDP as it is a sector that feeds billions of people daily. An industry on which human existence is so heavily dependent automatically provides several business opportunities that investors can benefit from. These agricultural businesses involve producing, processing, and distributing agricultural commodities. With proper planning and the right financial backing, any individual with a knowledge of farming and manufacturing operations can start a profitable agricultural business. Let us look at the 13 most profitable agricultural business ideas you can start today.
1. Fish Farming
Commercial fish farming is a lucrative business that can guarantee continuous favorable returns all year round. One of the major benefits of fish farming is that the startup costs are fairly low, and it is a sustainable business that you could venture into even in your own backyard. With the implementation of modern techniques, you can start this business with an average capital investment.
2. Poultry Farming
This involves raising domesticated birds like; chickens, ducks, turkeys, geese, and so on for the purpose of farming meat or eggs for food. Poultry farming is one of the fastest-growing businesses you can invest in. It is also one of the most profitable agricultural businesses, offering steady demand globally. In the last three decades, poultry farming has transformed from the status of ‘backyard farming’ to a techno-commercial industry.
3. Mushroom Farming
Mushrooms have been used for their health benefits for centuries. It has continued to serve as a vital source of nutrition for many people worldwide, making it one of the most popular agricultural products sold in the world today. Mushroom farming is a straightforward low-maintenance business that requires little financial investment but guarantees significant returns.
4. Dairy Farming
This involves breeding, raising, and utilizing dairy animals to produce milk and the various dairy products processed from it. It is one of the few businesses where a small farmer can earn more than an industrialist, owning to how lucrative the business is.
Dairy farming can be started on any scale, depending on several factors.
- Your financial position
- Availability of land,
- Required Capital.
Commercial dairy farming is a very profitable venture. However, you should know that you will require proper knowledge, significant capital, and professional experience to run this business successfully.
5. Hydroponic Farming
This is the method of cultivating plants without using soil. Instead of soil, water is used in this farming technique, making nutrients easily accessible to the crop’s roots. As a result, plants can grow faster and healthier.
This business is a highly profitable venture which has a lot of benefits which include the following:
- It conserves water
- Maximizes space
- It grows crops faster
- Produces higher yield
- It doesn’t need pesticides
- It is time-saving and cost-effective
You can start hydroponic farming with a few hundred square feet, which would be enough to produce food for hundreds of families. However, it is important to note that setting up a hydroponic system is quite expensive. It requires constant monitoring and maintenance, it is heavily dependent on electricity, and you stand the risk of water-borne diseases. Regardless, when run properly, hydroponic farming guarantees significant returns.
6. Snail Farm
Snail farming is one of the easiest and most profitable agricultural businesses you can venture into. Many people are switching to snails as a source of vital nutrients, and this trend has provided an opportunity for snail farmers. Snail farming is a low-risk business that requires very little startup and maintenance costs. You can start a snail farm with an outdoor pen or breed them indoors.
7. Agricultural Farm
This business is easy to start as it requires just a little investment. Depending on the climate you are in and the size of your agricultural land, you could grow crops of all varieties, which could then be exported for profits.
8. Organic Farming
This is a very lucrative business that involves the use of biological materials to maintain soil fertility and ecological balance. As a result, pollution and wastage are minimized.
People have become more conscious of the health benefits of organic farm produce, and that has caused a rapid increase in demand. This sudden surge in demand has created a lucrative opportunity for organic farmers worldwide.
9. Bee Farming
This is a very profitable business venture that requires little investment to kick start. With increasing awareness about health, there has been an increase in the global demand for honey. Honey contains antioxidants that protect the body from inflammation which could lead to various health issues.
You can take advantage of this global demand by selling honey and other products from a bee farm for profit. To start this business, you must be knowledgeable in beekeeping and understand and adhere to the regulations about beekeeping.
10. Herb Farming
Herbs are used in medicine, cosmetology, and food production. Since herbs are not commercialized to a great extent, herb farming can be very profitable. Medicinal herbs can be sold either directly to online consumers or wholesale. Additionally, there is a constant market for these herbs due to their health benefits, and you stand to profit from that.
A landscaping business involves maintaining gardens, and lawns, trimming trees and shrubs and providing maintenance and beautification services for landscapes. The cost of landscaping depends on the size and location. However, it is a very profitable venture requiring very little investment.
12. Growing Microgreens
This is one of the most profitable agriculture business ideas. Known as green leafy vegetables, microgreens are small vegetable greens that grow to be around 1–3 inches tall and have a variety of textures, flavors, and colors. They are usually harvested at the beginning of their growth cycle and used to enhance edible garnishes, salads, and other dishes.
Agriculture remains the primary source of livelihood for most people in rural and suburban areas worldwide. It is an industry with many business ideas that promises profitable returns. However, venturing into the industry can be overwhelming and financially demanding, making it important to choose an expert that can guide you properly.
Our 35+ years of experience in this industry have given us an understanding that farmers’ needs differ from other businesses, which is why we have tailored various agricultural loan programs to help you get your business started without hassle.
Moreover, unlike commercial banks, United Farm Mortgage will provide a reliable source of funding to keep your business running regardless of the season. Our services are well-designed to fit the financial needs of whichever agricultural business you venture into, enabling you to grow in the easiest way possible.