This article gives you key nuggets of how to write a business plan for Plantain Farming
You can never go wrong with a business that deals on consumables. People eat plantain a lot. The only problem with this business is that it is rather climate selective hence cannot be successfully run in every part of the world. Plantain does not flourish in either too hot or too cold weather.
The best locations for plantain farm business in Nigeria are states like Rivers, Delta, Osun, Ogun, and Ekiti states. The most suitable weather or climate for this business is 26-30 degree Celsius. The moment you get started though, it’s like a stream of wealth since plantain has a rapid growth and reproduction rate.
Like every other business, it’s not advisable to go in blind. You need to conduct an extensive research before you commence this business. Consider the following;
READ: How to fund your business without a debt sentence (Part 3)
Land
It’s best to have a suitable land on ground. A minimum of 2 hectares of land with the right soil composition for growing plantain is your best bet.
Know-how
You need to have grounded knowledge of this business before you go into it. You need to know the right soil composition, which breed of suckers to purchase, the cycle of plantain farming and the possible challenges.
Preparations
In most cases when the soil composition is not right, you might need to adjust the pH value of the land. Also, you may need to employ hands to dig holes where the plantain suckers will be planted. Plantain suckers are like the plantain seeds.
Suckers
You need to have a plan for sourcing suckers. There should be away you get supply of a large quantity of suckers. This routine will only re-occur in the next 2-3 decades as the suckers supplied will be able to last that long. You also need to know the right breed to go for.
Helping hands
There are so many things you require help with when running a plantain farm business. You need help with; clearing the land and boring holes for planting the plantain, watering the farm, weeding the farm, monitoring progress and harvesting the plantain. These are not all simple tasks that you can handle on your own. They require assistance and that assistance could come in form of hired laborers; unless your budget can handle a machine operated farm.
Check this article too
https://nairametrics.com/start-farming-business-nigeria/
Market strategy
You need to have a working marketing strategy at hand way before you start your business. There are options available to you; food processing companies or retailers. the best way to have maximize profits in this business is to build a great network and have a practical marketing strategy.
There’s no reason why you shouldn’t go into this line of business. It is a very profitable business. In fact, in a matter of 1-2 years you might find yourself diversifying into food processing thereby making more money. When you’ve considered all this, you can then make a comprehensive business plan that states;
- your vision/mission statement
- your financial status
- your marketing strategies
- your expansion strategies
- your fund-raising plans and all that.
Go ahead and get started.
