Starting a Goat Rearing Business With N500K And Growing Your Capital In One Year

Takeaways:

• Goat rearing is a highly practical business that you can start in your backyard, depending on the available space
• With the N500K budget, you can purchase eight nannies, two bucks, build a shelter, and still have at least N70K left for unexpected expenses.

Some time ago, a fellow member of a group to which I belong asked a question: ‘What aspect of agriculture can I venture into with N500k?’

Certainly, you’ll find people suggesting poultry, fish farming, or cassava plantation businesses. I’d like to emphasize that goat rearing is a business that can significantly grow your capital within a year.

Another often overlooked venture is local fowl rearing, but for now, let’s delve into the goat aspect. Both animals are hardy, entail minimal risk, and offer an impressive Return on Investment (ROI).

Must I have N500K to start goat farming?

While a budget of N500K is suggested, it’s essential to highlight that you can kickstart this business with as little as N200K.

However, for our discussion, let’s continue working with the N500K budget.

We’ll assume that you already have a suitable space for the goats, eliminating the need to allocate funds for purchasing additional land, which could otherwise consume a significant portion of your budget.

Breeds

Among the popular breeds in Nigeria are:

• Dwarf popular in the southern part
• Adamawa brown
• Red sokoto goat or maradi

Budgeting

In most cases, a female goat, known as a doe or nanny, tends to be more expensive than the male counterpart, referred to as a billy or buck. Regardless, here’s how I allocated my N500,000 to start a goat rearing business:

• Nanny: Between N25,000-N35,000
• Buck: Between N20,000-N30,000

It’s worth noting that the red Sokoto goat (Maradi) is generally pricier than other goat breeds in Nigeria. If you’re unable to acquire the Maradi, the Adamawa brown can serve as a suitable alternative

Building a shelter costs approximately N80,000, covering expenses for planks, nails, and roofing sheets.

Affordable roofing sheets are available in local markets, and you can also explore cost-effective options such as fairly-used sheets, commonly referred to as ‘second-hand’ by Nigerians.

For a suitable housing area, a space measuring 9 meters by 36 meters is adequate to construct a shed or shelter. This size allows ample room for the goats to roam comfortably

Analysis of the budget

• 8 young does/nannies (female goats): 8 X N35,000= N280,000
• 2 young bucks (male goats): 2 X N30,000 = N60,000
• Building of shed including transport and workmanship: N90,000
• Reserve for exigencies including feeding and veterinary inspection: N70,000

I would recommend purchasing just two bucks as they can efficiently service multiple nannies. It’s noteworthy that a male goat can comfortably service up to five females.

TOTAL=N500,000

Now, here are other things that will help you manage this business.

The Shelter

Providing housing for them is crucial, and the good news is that you don’t have to spend millions to achieve this. They simply need a shelter where they can stay during sunny or rainy weather.

Goats, particularly, do not prefer staying under the rain unless they have no other option, as it can adversely affect their well-being

Feeding

Goats are the easiest animals to feed since they consume plants, cassava, grasses, weeds, and food remains.

If you are situated in an area where there are weeds, locally known as ‘June 12’ in the southwest part, you may not need to spend much on feeding.

Breeding and Management

1) Ensure the cleanliness of their shed daily to prevent rashes and other diseases common to goats, such as caprine arthritis encephalitis, coccidiosis, listeriosis, and caseous lymphadenitis.

2) If you suspect any infection among the goats, promptly separate the affected ones from the healthy ones.

3) Always provide clean water and feed for them. Keep the does, bucks, and kids in separate spaces.

4) Make provisions for proper quarantine measures in case of any emergencies.

5) Take extra care of pregnant does and allow the kids to stay with their mothers for a few weeks after birth.

6) Keep a vigilant eye on them for effective infection control.

7) Ensure that their shed is well-ventilated to minimize the risk of pneumonia.

Expected Profit

The gestation period for a goat is 150 days or approximately five months. This means that a female goat can give birth two times a year, allowing for significant production within a short period.

With 8 does you can expect at least another eight kids. If you’re fortunate, some of them might give birth to a set of twins or more.

If there are new sets of nannies among the younger ones, that’s another round of reproduction in the making.

With proper care, they become salable for meat between 8-12 months, especially the bucks, as their meat tends to have lower fat content.

There is a market for goats throughout the year, but demand peaks during Muslim festive periods.

They are ready for meat within a year, and a mature male goat can fetch between N50,000 and N70,000 in the market, depending on the location and festive period.

Assuming you sold 10, that would be a total of 10 X N70,000 = N700,000.

Therefore, you can recoup your capital in the first year.

If you continue this for three years, that would be N700K X 3 = N2.1 million.

So, your net profit in this business could be N1.8 million after deducting expenses over three years.

Target Market

Locals, particularly senior citizens, have a strong preference for goat meat due to its low cholesterol content.

In a Facebook Buy and Sell Group, a goat seller posted one for sale, and the potential buyers’ comments indicate high demand, with many asking for the location.

Joining a goat-farming group on social media can be beneficial; you’ll be amazed by the large number of people expressing interest.

Additionally, consider partnering with goat sellers in your locality; they can call you when they have customers, creating potential business opportunities.

Advantages

• It can be reared with other livestock.
• Products like milk, and meat, serve as a source of income.
• The milking method for goat is easy.
• Meat and milk from goats are easily digestible.
• They are easy to manage than poultry.
• It is not capital-intensive like farming.
• They do not require a large rearing space unless you want to go expand.
• The onset of puberty in goats typically occurs at 6–8 months of age in does and 4–6 months in bucks.
• Goats reach their reproductive between 4-8 months: between 4-6 months in bucks (male) and between 6-8 months for does. That is why they easily multiply within a short period.
• The risk of goat rearing is low in terms of weather conditions.
• The rearing of goats is not against any religious belief or practice.
• Goat milk is good because it “may help reduce cholesterol levels in people with high blood cholesterol”, according to WebMD analyst.
• No need to construct expensive shelters, just a place to hide their heads when it rains or rest at night is enough.
• Goats are accommodating, they can share their space with other animals.
• They have a higher survival rate than chickens, thereby minimizing losses.

Challenges

There are also challenges in every business, and goat farming is no exception. However, it’s important to note that most of the challenges you may face in the goat farming business are often a result of neglect or oversight, according to Uganda-based tech-farming firm Bivatec.

They include:

• There is a high risk of disease spread if you overcrowd the goats.
• Failure to plan for breeding can pose challenges.
• As the number increases, it is important to make provisions to expand their shed, among other considerations.

Final words

You can’t turn into a millionaire overnight by starting goat rearing business. But is worth it, if you can see the big picture!