Spice Shop Business Plan | How To Begin Spice Farming Business
Spice Shop Business Plan | How To Begin Spice Farming Business
- 1 Spice Shop Business Plan | How To Begin Spice Farming Business
- 1.1 Demand For Spices In Nigeria
- 1.2 Why begin A Spice Farming Business In Nigeria
- 1.3 Business opportunities In Spice Farming business in Nigeria
- 1.4 How to Start Spice Farming Business
- 1.5 Other Amazing Business You Can venture Into Today
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Spice farming business? Who doesn’t use spice here in Nigeria? In fact, I just finished cooking jellof rice and trust me, spices played a big role in making it aromatic, appealing and tasty. Just yesterday, I went to Shoprite to buy some food stuffs and mistakenly, I stumbled on the spice segment. You need to see how wowed I was.
I stood, stunned to even move as I glance around this wonderful arena. The scent in the air weakened me and I felt like staying there forever. Those spices were so beautiful and neatly packaged and arranged for prospective buyers.
Seeing hundreds of different species of spices made me indecisive of the one I should go for. One of the staff must have noticed my dilemma and offered to help. While she was helping me make a choice, I asked her about what she think about spice farming business.
Her reaction was wonderful. She smiled and spurted out a secret that will forever hunt me if I had decided not to write about this spice farming business.
Starting a spice farm in Nigeria is a multi-million-dollar business idea. I mean, millions of dollars are made every year from spice farming and yet, many people don’t even bother to know how the business is done. Take for instance, Ethiopia made over $700 million in 2012 in the spice industry.
Demand For Spices In Nigeria
I’m yet to see a cook who doesn’t use spices when cooking. If there are, they will merely make up 5% of the Nigerian population. What am I saying? The demand for spices is huge and will continue to be unless humans decide not to cook again which is likely impossible.
Every home in Nigeria uses spices to cook, to help improve the aroma, taste and the appealing state of the food. Spices has been saving our young ladies in the kitchen from time immemorial.
In this article, I’m going to guide you on how you can start a profitable spice farming business here in Nigeria. This article isn’t going to replace a business plan; this article is merely here to give you a push into starting this lucrative business.
Why begin A Spice Farming Business In Nigeria
The demand for spices is huge and the few players in the business are yet to meet demand. In fact, the demand worldwide is mind-boggling. Spice exporters are banking millions of naira in every export.
2. Easy To Start
Spice farming business is unlike other agricultural businesses where you have to pass through a lot of protocols and technicalities before you hit the gold. Far from that. This business is easy to start, not rocket science.
3. Cheap to Start
As long as you have a farm land, then starting a spice farm is very cheap. This will only be costly if you have no land. Even at that, renting a land for a year or more isn’t too costly. I could remember when my mum was hugely into agriculture here in Umuahia. A year land rent was N5000.
4. Profit Potentials
The amount of money that you can make from this agribusiness is huge, depending on how big your farm is anyway. If you can engage in the exportation of spice, be rest assured that you will be making millions of naira in every trip.
Business opportunities In Spice Farming business in Nigeria
1. Spice Farming/Cultivation
This is the basic as long as spice business is concerned. This entails the farming of spice on farmlands and supplying to retailers, wholesalers, industries etc. Without this type of farming, spice business won’t exist.
2. Spice Trading
This type is about buying spices from spice farmers and selling to either wholesalers, retailers, companies or individuals in need of them. This business opportunity is best for those who don’t want to play with dirt that comes with farm work.
3. Spice Processing and Branding
This is usually handled by big companies that buy spices from spice farmers, then allow the spices to undergo some processing and branding. When we talk about processed spice, we take about spices like ‘Kitchen Glory’ ‘Gino Curry’ ‘Big Mama’ etc.
How to Start Spice Farming Business
1. Business Plan
You’ll need a spice farming business plan before you even think of starting this business. Through your research and feasibility study, you will be able to know the general overview of the business, especially in the aspect of knowing who your target market is.
There’s a saying that if you don’t plan to succeed, you plan to fail. The importance of a business plan should not be undermined.
2. Pick A Spice Niche
There are over hundreds of spice spices out there. So you need to pick at least, one or two spices that you want to specialize in. When choosing a spice, make sure that the demand for that particular spice is high.
Some questions to ask yourself about your decision-making process are:
- How resistant is this crop to pests and diseases?
- Is there a large demand for this spice?
- What are the risks of growing this spice?
- Where and how will the spices be sold?
- What volume of this spice should I first grow?
- You can buy from another spice farm.
Types of Souces
There are over hundreds types of spices that can be sold locally or exported as part of a multi-billion-dollar industry. Below are some of the spices that is most popular here in Nigeria.
- Stock cubes
- Onions etc.
3. Get a Farmland
Spices have been known to strive even in poor soils, that however doesn’t mean you shouldn’t be picky when choosing a farm land for your spice farming business. You can grow your spices in your garden, in containers or right in your yard.
Every spice specie has their own various conditions in which they can grow. Some species requires a lot of sunlight, while some don’t. some require a lot of rain, while some don’t. it is your job as a farmer to discover the best condition for the specie of spices that you have chosen. Know this before settling for a land.
4. Land Preparation and Planting
After you have gotten a land, suitable for your spice specie, the next line of action will be to clear the land from weeds, till the soil and then plant. After planting, apply fertilizer after a week or two to boost their growth and yield.
Some spice farmers advise soaking the spice seeds in water for 24 hours before planting. Doing that increases the chances of germination.
If there are no much rainfall, then water the farm at least, once a day to keep the soil moist and suitable. You can also re-fertilize the farm at this period.
This could be weeks or months later depending on the specie of the spice. Spice farming business is known to be lucrative, especially at this stage. This is when you harvest your spices, store them or supply to all your supply networks or target market.
Spice farming business is one of the most lucrative business at the moment. But because people are so carried away, they don’t even know that spices can be farmed. With a suitable land and a business plan, succeeding in this business becomes very possible.
That’s the much we can take on the topic “Spice Shop Business Plan | How To Begin Spice Farming Business”.
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