How to make millions doing snail farm business

How to make millions doing snail farm business

Editor's note: Saheed Akinola Esq, the Legit.ng partner blogger, in this latest article, explains how people could make millions doing snail farm business.

Saheed is a legal practitioner and consultant on farming/agricultural investments.

His expertise covers a wide area such as corporate practice, asset acquisition, property acquisition, sales and management, farm management and consultancy.

He consults for individuals and corporate organization across Nigeria and abroad.

He could be contacted via: lagoslawgurus@gmail.com +2348032493960, +2348050221164, or propertylinelawyers.wordpress.com.

More details in Legit.ng’s step-by-step guide for guest bloggers.

This write-up is intended to give the prospective snail farmers the ideas of how much is required to start snail farming business whether it is small scale to large scale.

It is to be noted that this projection is basically on Achatina Maginata (AM), which is the biggest and the most marketable specie of the three species of snail reared in Nigeria.

Required capital and projected profit

The required capital to be invested in snail farming business depends on the size of the farm one wants to start with and the materials used for pen.

It is possible to start with zero naira if one could pick his start up snails from the forest and use old tyre or drum as pen. For others the below analyses are the projected financial plans.

1. Financial plan for a small scale snail farm using a cage or free range system for 50 snail breeders

I. Cost of structure.................. N 20,000 - N 30,000

II. Cost of breeders.................. N 20,000 (N 400 each)

III. Cost of feed......................... N 10,000

IV miscellaneous ………. N 50,000

_________________

Total N 110,000

READ ALSO: My father truly held meeting with Buhari on Nigeria’s unity - Ojukuwu’s son blasts IPOB, MASSOB

A breeder will lay an average of 35 eggs in a year and when you multiply it by 50 breeders it will give you 1750 eggs. Assuming out of 1750 it is only 1500 snails that grow to maturity, the least amount you can sell a table size snail is N 500

Expected turn over 1500 × N 500 = N 750,000

Expected profit N 750,000 - N 110,000 = N 690, 000

2. Financial plan for a small scale snail farm using a cage or free range system for 100 snail breeders

I. Cost of structure................ N 30,000 - N 50,000

II. Cost of breeders.................. N 40,000 (N 400 each)

III. Cost of feed......................... N 20,000

IV miscellaneous……..……… N 60,000

_________________

Total N 150,000

A breeder will lay average an average of 35 eggs in a year and when you multiply it by 100 breeders it will give you 3500 eggs. Assuming out of 3500 it is only 3000 snails that grow to maturity, the least amount you can sell a table size snail is N 500.

How to make millions doing snail farm business

Achartina Marginata (AM). Photo: Saheed Akinola

Expected turn over 3000 × N 500 = N 1,500,000

Expected profit N 1,500,000 - N 150,000 = N 1,350,000

3. Financial plan for a small scale snail farm using a cage or free range system for 200 snail breeders

I. Cost of structure................ N 50,000 - N 60,000

II. Cost of breeders.................. N 80,000 (N 400 each)

III. Cost of feed......................... N 40,000

IV miscellaneous……..……… N 70,000

_________________

Total N 240,000

A breeder will lay an average of 35 eggs in a year and when you multiply it by 200 breeders it will give you 7000 eggs. Assuming out of 700 it is only 6000 snails that grow to maturity, the least amount you can sell a table size snail is N 500

Expected turn over 6000 × N 500 = N 3,000,000

Expected profit N 3,000,000 - N 240,000 = N 2,760,000

4. Financial plan on a commercial snail farm on a closed free range system of 500 snail breeders on 30ft by 120ft

I. Cost of structure................ N 800,000 - N1, 000,000

II. Cost of breeders.................. N 200,000 (N 400 each)

III. Cost of feed......................... N 120,000

IV worker’s salary……………. N 200,000

V Irrigation facilities ……….. N 1,000,000

VI miscellaneous……..……… N 120,000

_________________

Total N 2,440,000

A breeder will lay an average of 35 eggs in a year and when you multiply it by 500 breeders it will give you 17,500 eggs. Assuming out of 17,500 it is only 16,000 snails that grow to maturity, the least amount you can sell a table size snail is N 500

Expected turn over 16000 × N 500 = N 8,000,000

Expected profit N 8,000,000 - N 2,440,000 = N 5,560,000

5. Financial plan on a commercial snail farm on a closed free range system of 1000 snail breeders on 60ft by 120ft

I. Cost of structure................ N 1,600,000 - N2, 000,000

II. Cost of breeders.................. N 400,000 (N 400 each)

III. Cost of feed......................... N 300,000

IV worker’s salary……………. N 400,000

V Irrigation facilities ……….. N 1,000,000

VI miscellaneous……..……… N 300,000

_________________

Total N 4,000,000

A breeder will lay an average of 35 eggs in a year and when you multiply it by 1000 breeders it will give you 35,000 eggs. Assuming out of 35,000 it is only 30,000 snails that grow to maturity, the least amount you can sell a table size snail is N 500.

PAY ATTENTION: Read the news on Nigeria’s #1 news app

Expected turn over 30,000 × N 500 = N 15,000,000

Expected profit N 15,000,000 - N 4,000,000 = N 11,000,000

This will serve as a guide to those who are interested in making money from this lucrative snail rearing business.

Meanwhile, Legit.ng had previously reported on nine important things people must consider before starting snail farm business in Nigeria.

Legit.ng welcomes writers, bloggers, photographers and all sorts of “noise makers” to become a part of our Bloggers network.

If you are a seasoned writer or a complete newbie – apply and become Nigeria’s next star blogger. Send us some info about your career, interests and expertise and why you’d like to contribute to the Blogger Network at blogger@corp.legit.ng.

Also, please send us the link to your blog and three examples of your work. More details in Legit.ng’s step-by-step guide for guest bloggers.

Watch the president's supporters on Legit.ng TV celebrating on the streets of Abuja the day he returned:

Source: Legit.ng

Mailfire view pixel