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How My Friend Lost All His Investments on Farming Watermelon (Part 1)

Farming and Agriculture, Land law/Real estate, Uncategorized

 

How To Start A New Farming Business In Nigeria

Without doubt, Farming is a lucrative business; however, contrary to the beliefs of many people who are interested in taking up farming as a short cut to quick riches, farming takes a lot of planning, efforts and commitment before it can produce desired results. Many people have had their fingers burnt because they rushed into farming without prior knowledge and based on the analysis they got from internet farmers who  do their planting and harvesting on the internet. Most of the analysis on internet, are only there to lure the investors, they are far from reality on ground.

 

READ ALSO:FACTORS THAT MUST BE CONSIDERED BEFORE GOING INTO FARM PARTNERSHIP

Immediately a real farmer reads about humongous return of investment on the internet about some crops, he will know whether the writer is a real farmer or pen farmer. We normally advise intending farmer especially the Nigerians in Diaspora not to gamble with their money by investing in farming when they know nothing about it.

READ ALSO:FACTORS THAT MUST BE CONSIDERED BEFORE GOING INTO FARM PARTNERSHIP

REASONS WHY MANY INVESTORS IN FARMING LOST AND ARE STILL LOSING THEIR INVESTED CAPITAL.

 

READ ALSO:  FACTORS THAT YOU MUST CONSIDERED BEFORE STARTING SNAIL FARMING BUSINESS

Lack/ Inadequate knowledge about farming.

Farming business is one the areas where people take acquisition of knowledge for granted. Farming is like any other serious businesses which require training and retraining so as to be updated on new methods and methodologies so as to maximize your profit and minimize the cost. You will never be saturated with learning as far as farming is concern. It is wrong to just jump into cultivation of a particular crop because you read online that it could give you 300% of return of Investments.

 

READ ALSO: REASONS AGRICULTURAL INVESTORS/FARMERS MAY LOSE THEIR INVESTMENTS IN NIGERIA

We are not disputing the fact that you can get a lot of beneficial and didactic information of farming on line but it our candid advice as professionals in the field for you to crosscheck the facts and verify the information from the farmers in the farm. Most of the articles on internet discuss assumed return of Investment without putting into perspective the challenges. They talk about the expected profit and keep mum on the possibility of loss. There are two sides to every coin. If you don’t know about failure it will be difficult to safeguard ourselves from it and by the time we realize it will be too devastating. It is incumbent on any driver, apart from knowing the rudiments of driving you must know about precautionary measures and damage control when you have a flat tyre on motion.

READ ALSO:Procedure for Registering your companies, Clubs, NGOs by yourself

One of our friends lost a huge sum of money this year on watermelon because of inadequate knowledge. He read about mouth watering returns of Investments on cultivation of Watermelon; he put all his capital on it; and he eventually lost everything due to fungi attack. Many investors are in his shoes today because they know where to press in an airplane to fly and get too enthusiastic and get carried away without minding how to land safely. They pressed the “on button”; the airplane took off; after some minutes of flight they realized that they ought to have learnt about how to land an airplane safely. Too late !

KIND OF KNOWLEDGE REQUIRED IN FARMING

When you want to start cultivation of a particular crop you must as a matter some of the factors below in details. You can afford to lose your hard earning money:

READ ALSO: A COMPLETE GUIDE OF HOW TO START BEE FARMING IN NIGERIA

  1. KNOW ABOUT THE CROP:

Before you decide on whether cultivation of particular crops is worth it or not you must first of all conduct about the crop you are interested in. It is highly recommended that you find those who are cultivating similar crops to what you intend to do. It’s also recommended for you to visit their farm. You will be able to ask questions and get a better understanding of their own farming experiences.

 

READ ALSO: HOW NIGERIANS CAN MAKE MONEY FROM FARMING WITHOUT GOING TO FARM

2.KNOW ABOUT THE WEATHER

You have to acquire knowledge about the best weather that is suitable for the crop you intend to cultivate. Some crops do better in certain quarter of the year than other.

3.KNOW ABOUT THE MARKET/DEMAND.

What I know of internet analysis of price of farm produce is that it is often based on retail price rather than whole sale price. As a farmer you don’t base your projection or retail price but rather whole sale price because you are going to sell in buck. For instance a watermelon that is sold for N400.00 is not more than N200, from the farmer. Get to know about the price the farmers sell the product. Farmers markets are also a great place to meet producers so as get great knowledge about the market and demand.  .

Any intending farmer that is serious about making profit from farming should critically consider the factors explained above; and some other factors that we will explain in part 2 of this write-up so that they won’t end up losing their investment capital like that friend of mine.

Farmland for Sale: N200,000 per acre at Odeda, Ogun State

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