Vegetable Farming Business Plan

Vegetable farming is one of the biggest silent money makers in Nigeria. In a country with a population of over 190 Million people all off different tribes, ethnicities, and delicacies, one major common thing among these tribes is the use of vegetables in preparing their food, this in turn indicates that vegetable farming in Nigeria is indeed very profitable as it is used in preparing dishes like Egusi, Afang, Ogbono, Edikang Ikong, and many other Nigerian delicacies.

Some of the vegetables farmed in Nigeria are Ewedu, Water leaf, Shoko, Ugwu, etc. Many of these vegetables have similar farming practices and it is quite common to see several of these vegetables planted on the same farm land. One of the most profitable vegetables to farm in Nigeria is Ugwu. This is because Ugwu is used by majority of the tribes and people of Nigeria in preparing food. Ugwu has a very high demand and it is available all year round. Setting up a vegetable farm is quite easy in most parts of the country as the crops are not so demanding and they yield year round and a farmer can harvest these crops within 4 weeks after planting.

One thing is certain when it comes to vegetable farming in Nigeria, once a farmer is able to get a clear view of his/her target market and develop strategies on how to get the crops to them in due time and in good condition then he/she is set to make huge profits especially during the dry season when the demand is higher and many farmers cannot produce as much as they do during the wet season. Another factor that is going to help in the business is getting a good location/land which has essential soil nutrients, getting a credible vendor to supply the seedlings and also good fertilizers, if all these are done then the business is likely not going to struggle as there are a lot of consumers who are ready to buy.

Starting a successful vegetable farming business, it is advisable to get a suitable farmland with the best kind of soil fit for vegetable farming like Loamy or Silt soil as it highly rich in organic needed for the growth of healthy vegetables. Also vegetable grows best in an upland region with a good drainage system. All this features should come to mind when choosing a farmland for vegetable farming.

Lastly, with vegetable farming it will pay not to only cultivate vegetable and sell them for consumption in farm markets to retailers and consumers. A farming company can as well start a complimentary business like vegetable processing plant to package the vegetables to save cost, prevent spoilage and maintain freshness as these crops tend to go bad within a short time especially if they are not stored properly. The bottom line is that any farming company with the right farm and farming practices and good distribution channels is sure to make huge profits from the business.

Table of Contents

i.  Introduction2

1.0 Executive Summary2

1.1 Benefits4

1.2 Objectives4

1.3 Vision5

1.4 Mission5

1.5 Keys to Success5

1.6 Guiding Principles6

2.0 Company Summary6

2.1 Company Ownership6

2.2 Location and facilities6

2.3 Start-Up Summary7

3.0 Product Description9

3.1 Services9

3.2 Future Products9

4.0 Market Analysis9

4.0.1 Market Summary9

4.0.2 Market Trend10

4.0.3 Marketing Plan11

4.1 Target Market11

4.2 Industry Analysis11

4.3 Challenges Facing the Agriculture Industry13

4.4 SWOT Analysis13

4.4.1 Strengths13

4.4.2 Weakness13

4.4.3 Opportunities14

4.4.4 Threats14

4.5 External Environmental Analysis14

4.6 Competition and Buying Patterns14

4.6.1 Main Competitors14

4.7 Marketing Strategy15

4.8 Publicity and Advertising Strategy15

4.9 Sales Forecast17

5.0 Strategy and Implementation Summary17

5.1 Competitive Edge18

6.0 Management Summary18

6.1 Management Team18

6.3 Personnel Plan21

Table: Salaries and Wages21

7.0 Financial Plan21

7.1 Breakeven Analysis21

7.2 Projected Profit and Loss22

7.3 Projected Cash Flow23

7.4 Projected Balance Sheet23

Table: Salaries and Wages25