The goat farming business is one of the most lucrative livestock ideas to pursue. The government of India provides feasible loans and subsidies which are offered by different institutions. Goat farming is affordable for new entrants and the poorest of the poor farmers who cannot afford animals like buffaloes or cows. Feeding goats are highly nominal as they thrive on the leaves of various plants. In the case of other animals, you have to feed them well to rear them better and enjoy good produce.
Goat farming has gained a lot of momentum in recent years as goats are a good source of fibre, skin as well as nutritious milk. There are many established business houses that have resorted to this type of livestock farming on a parallel platform. Many budding entrepreneurs have also selected this from various perspectives, which include fewer costs, more yield, and consistent profits.
Did you know?
Goats are one of the cleanest animals and are extremely selective about what they eat?
Exploring a Goat Farming Business Plan for Beginners
Every business plan, be it by a first-timer or an experienced businessman, has to include a well-laid out vision of its goals and objectives. The monetary investment required for goat farming does not involve large sums of money in comparison to other livestock farming but it definitely provides you with more profits. Ideally, you should conduct research and actively meet with other livestock farmers to understand the various aspects of this business.
Exploring the Range of Goat Products
Before you set foot into this farming, you should be very sure about which goat products you would like to specialise in. The choices are varied and include:
- Goat milk
- Goat meat
- Goat skin
- Goat manure
- Goat fibre
Your research must include obtaining information about which goat products enjoy the maximum demand. In case you find goat milk is a preferred choice in that neighbourhood, you can start with that first. You can start on a small scale to understand the response of the local folk. Once you get positive feedback and there is an increase in demand for the same, you can work towards expanding this on a larger scale. Goat milk is highly nutritious, and many people prefer it to cow and buffalo milk.
In case you choose to focus on goat meat, you will have to conduct a study of the meat market in your locality to get an idea about the various types of meat that are in demand. The same process applies to goat skin and goat fibre. In case you are more inclined towards goat manure, you can divert your energies after understanding the requirement of the same. Goat manure serves as a superior quality fertiliser. Moreover, it is completely organic. Your target audience would include farmers, and you will have to build a feasible business association with the farmer in the neighbouring areas to make a good turnover and expand your business in a steady manner.
Accommodation for Goats
Once you start rearing goats, you have to pay undivided attention to their upkeep. This involves providing them with comfortable premises which are hygienic and pest-free. A healthy ambience will help maintain the overall well-being of the goats, and they will be able to provide a good yield.
Provision of Healthy Food for Goats
Goats thrive on the leaves of plants. Instead of arranging for daily requirements, you can invest in land and set up a grazing facility for them to consume quality food. Goats are very friendly and no-fuss animals. A plot of grazing land will also give them the liberty to move around in the open air and enjoy the outdoors. A good water connection will help you provide them with clean water. You can invest in a few open-mouthed containers and fill them to the brim for thirsty goats to enjoy a good drink.
Goat farming requires as much dedication as you would provide to your pup or cat. You must ensure that you are in touch with a good veterinarian who can also advise you with his expertise on animals. You can keep a first-aid box with a few indispensable medicines you can give the goats whenever the situation demands.
Goat farming requires a lot of patience, tender love, and care. You have to be an animal lover to be able to connect with them, understand them and look after them well. You have to be personally involved as they tend to connect very easily with their caretakers.
Procuring Loans for Goat Farming Business
There are many financial institutes that offer loans for goat farming. Some of these include the State Bank of India, Industrial Development Bank of India, and the National Bank for Agriculture and Rural Development (NABARD). You can also apply for loans to the Micro Units Development and Refinance Agency (MUDRA). You can use these loans to invest in land for grazing, build a clean housing premise for the goats, and various other requirements to keep your goats healthy at all times.
Loans from State Bank of India
You can apply for a goat farming loan in accordance with your commercial needs. This bank will ask you to provide:
A feasible business plan that includes details like business location, the breed of the goats, your business strategy to develop the business, employees, machinery, if any, among other details. The bank will validate your eligibility based on your investment and business plans.
Loans from NABARD
NABARD is reputed for assisting both medium as well as small-time farmers engaged in animal husbandry. This institute provides farmers with loans in association with other banks like the State Co-operative Bank, Regional Rural Bank, the Urban Bank, State Co-operative Agriculture and Rural Development Bank, and the Commercial Bank.
Also Read: Small Scale Business Ideas for Rural India
Loans from the Industrial Development Bank of India
This bank offers loans that range from ₹50,000 - ₹50 lakhs. Corporate businesses, entrepreneurs, freshers, and poor farmers can apply for loans from this bank.
Loans from MUDRA
MUDRA provides loans in association with other banks. You can apply for a maximum of ₹10 lakhs.
You can also apply to Canara Bank, which is known for providing loans at attractive rates of interest. Like all loan applications, you will have to provide a set of documents to these institutes or banks. These include:
- Residential proof
- Details of caste
- Your Aadhar card
- A bank statement with details of the last six months
- Documents pertaining to the land purchase
- Proof of your earnings
- Photographs (Nos. 4)
The above details guide you on what goat farming involves and how to pursue it in an organised manner. It also explains the upkeep of goats and how to procure loans from specific institutes.
Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.