PLANTAIN FARMING BUSINESS PLAN GUIDE
When listing ten top profitable farm businesses to venture into, plantain farming must for sure be part of it. I know you might be thinking how plantain farming can make you millions yearly.
Agricultural business is a goldmine and its reward is beyond imaginable. I have seen results and that is why I will be taking you by the hand and show you how you can make serious money with plantain farming.
Have it in mind that the plantain that you eat almost every day, fetch millions of dollars into the pocket of few farmers. Today, only few farmers plant and grow plantain in Africa and this makes the demand high and profitable.
Plantain farming is a very lucrative business because right now the price of a bunch of plantain at the time of writing this post sells between $5 to $10.
The first thing you should be considering is the right climatic condition of your area. Plantain cannot do well in an environment that is too hot or too cold. The best climatic environment for plantain range from 26-30 degree Celsius.
The best place for planting plantain is a rich and fertilized soil.
Plantains are grown through sucker. Choose suckers that are strong and active. When transplanting suckers, make sure you get as much corm and root as possible and plant them.
Let the spacing be between two to five meters. At the early stage of planting, keep them moist but not too wet because they don’t have leaves to evaporate the water.
As the plantain grows, it is important you also sprinkle fertilizers once in a while and but mostly throwing the plantain dead leaves back into the plant is enough to sustain the rich quality of the soil.
For example, you plant 1,000 suckers of plantain on an hectare of land. In your first harvest, you will get back your money and also make good profit.
Four month later, you will come back to the same plot of land and still harvest more.
Cost of Starting a Plantain Farm
What is the average plantain cultivation cost estimate? How much is needed? Starting a plantain farming business does not cost much. Cost of starting production depends greatly on the average dimension of your farmland.
What you first need is a hectare of farmland, cost of labor to clear the farmland and the purchase of suckers which can cost up to N450, 000 depending on the community or state.
But if you already have a farmland almost a hectare, you’re half way into the business. The only thing you will then be thinking about is how to get the plantain suckers.
The joy about plantain farming is that you don’t need to buy suckers and plant again unless you want to start planting in another fresh land because once you plant the first sucker, that one sucker can keep producing for the next 25years or more if you will properly maintain the farmland.
In plantain farming, one can make as much as N150, 000 per hectare on a yearly basis. You can continue to make this over and over again for many years if you maintain the farm properly.
Let say you planted 500 suckers and you sell a bunch for N1000 at maturity. That’s N500, 000 yearly. And the good side of it is that, you must have every nine months. The same sucker will continue to grow and multiply itself for many years before the land loses its fertility.
Possible Problems and Challenges in Plantain Farming
There are some major challenges involve in plantain farming. But it all circles around the diseases in plantain. If these plantains are not being taken care of by the farmer, diseases may affect the plantain leading to poor harvest.
Disease like Eelworm which attack the roots thereby creating galls. Another attack is also caused by nematodes and borers which make plantains to dry off.
The farmer can control these soil pests by applying nematicides to the soil twice a year. The best time is April and September.
Also, don’t forget regular maintenance is necessary for success in this farming business. Transporting farm inputs to and farm produce from the farm to the market. And the labor factor. This is also inside maintenance and transportation.
You should not let these problems stop you from venturing into this business if you really desire it.
Plantain business remains one of the best agricultural businesses only if you understand how it works.
PLANTAIN FARMING BUSINESS PLAN EXAMPLE
Here is a sample business plan for starting a plantain farm.
This article focuses on the plantain farming industry. Aimed at farmers engaged in this line of business, they as entrepreneurs require a good business plan to chart a way to profitability and growth. For the entrepreneur having little or no knowledge on how to write a good plantain farming business plan, this article comes as an aid or a guide.
It makes available a sample business plan so that the entrepreneur is able to follow the example while brainstorming on the unique nature of his business, and writing them using the sample as guide. We begin this plantain farming business plan sample with the following;
Table of Contents
- Executive Summary
- Services Rendered
- Vision Statement
- Mission Statement
- Competitive Advantage
- Target Market
- Sources of Revenue
- Sales Projection
- Payment Options
- Publicity and Advert Strategies
The Sunrise Farms to be located in California is a farm with its products mainly consisting of plantain. Our production techniques will consist of both the organic cultivation of plantain and non-organic plantain cultivation.
Centered on mainly commercial plantain production, we will be making available both processed plantain products and unprocessed products as may be desired by the consumers.
With plans of expanding production in the nearest future, the Sunrise Farms plans on making its presence known nationally and internationally through the exportation of processed plantain products.
We intend to favorably compete with the established names in the industry through the adoption of innovative production and processing measures, and this will be led by our team of well experienced and highly motivated workforce.
Contributing to the food needs of Americans and also the global population, we will be involved in the production of plantain using both organic and non-organic means. Apart from cultivation of these plantains, we will be involved in value addition through the processing of these crops using the best processing technology.
The processed products will be in the form of chips. For export, most of these products will consist of processed and packaged plantain products.
Our vision is to be among the best plantain farms with strong commitment to the production of high quality plantain products comparable to any. We will be adopting a business model that will ensure that we achieve impressive growth levels within a considerably short time frame.
Adopting the best commercial production techniques, we have a mission of becoming a global player in the plantain farming business by building a strong brand driven by industry best practices and the utilization of the best hands within the industry.
At Sunrise Farms, our competitive advantage comes from the workforce we have assembled, who possess years of experience within the industry. These have knowledge on what drives the market and the pitfalls to avoid. They will contribute immensely to the growth of the business through the adoption of the best strategies.
Also, we will be providing the best working conditions for our workforce. Compared to our competition, we will have a world class quality control unit that will ensure that all our products pass stringent quality control checks. All production strategies will meet full regulatory guidelines.
Our target market consists of all consumers of our products. Also, it includes everyone benefitting from the value chain created by this industry. Restaurants, catering companies, hotels and households are included in our target market.
In addition to these, other countries where these products are being consumed will be targeted for export.
Sources of Revenue
Our sources of revenue will include the sale of all the products produced by us. This will come mainly through export of processed and packaged plantain chips and also for domestic consumption in households, hotels, among others.
In order to set a direction for our plantain farm business, we have conducted a research within this industry that has forecasted some impressive growth levels. Using a three year projection period, in addition to current economic indices, but discounting unforeseen factors such as negative economic growth or economic recession and natural disasters, we have arrived at the following projections summarized by the chart below;
- First Year $340,000
- Second Year $430,000
- Third year $610,000
We have come up with innovative ways of payment for services through the integration of all the major payment channels to accommodate customer preferences.
Some of these payment options include the acceptance of cash payments, the use of POS machines, credit cards, internet banking transfers, mobile transfers, and the acceptance of cheques among several other payment channels.
These will create ease of payment for services offered by us to the clients.
Publicity and Advert Strategies
The publicity and advert strategies adopted by us include the use of the most effective advert strategies. These include the placement of paid adverts in both written and electron platforms. We will be building a website for our business that showcases all the services offered by us.
Social media channels will also be taken advantage of by us to spread awareness about our business. Also, we will be mounting billboards in strategic places especially in high traffic areas.
With this plantain farming business plan sample, the entrepreneur interested in this line of business is provided with a guideline that will ensure the easy replication of the steps contained in this article, leading to a well written and effective plantain farm business plan.