Goat farming business is considered as a good money making venture for most of the business owners. To establish a strong goat farming business, entrepreneurs are required to draft a business plan. Business plan should contain all the necessary details required to manage and execute business. Further, let’s discuss important details regarding the goat farming business plan and how to start a goat farming business.
Components of Goat Farming Business Plan
- Purpose of business
- Business description
- Information on capital to be invested
- Location of goat farming business
- Number of goats
- Sales, advertising and marketing strategies
- Management and Personnel details
- Details of used raw materials, equipment or machinery
- Financial Projections of business
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How to Start a Goat Farming Business?
1. Choose the Business Purpose
Business owners need to select from various forms of business that include raising of goats for the purpose of milk, meat, hair, sale as pets, etc. The investment and operational cost shall vary from types of businesses. Depending upon the business type, working capital shall be invested.
2. Goat Breed Selection
It will depend on the motive of the business and goat breed selection is of high importance. Goat breeds available in India include Malabari, Jamunapari, Barbari, Beetal, Tellicherry, Sirohi, Osmanabadi, Kanni aadu, Black Bengal, Kodi aadu, etc.
3. Arranging Funds
Not every business owner is equipped with adequate funds to start a business. Neither any business owner shall invest all of his/her savings to start a dairy business. Therefore, arranging funds to start goat farming should be utmost priority. Funds can be availed in the form of business loans, term loans, working capital loans, loan for machinery, equipment finance or small business loans. To make things quick and simple, business owners can visit paisabazaar.com to check and compare loan deals offered from leading financial institutions.
4. Finalizing a Farm Location – Building Goat Sheds and Fencing of Farmland
Generally, open and large spaces are preferred for goat farming business, as cattle like to grow within a herd or group. Far open spaces are good for goat farming business, avoiding city pollution and population. Outskirts or uptown areas of cities are preferred that help to enhance the habitat required for better growth. To build goat sheds, the primary size shed can be of size 30 feet (length) and 35 feet (width) for 150 goats approximately. Fencing of the farmland is mandatory to avoid goats from escaping for grazing on the other side of farm land.
5. Naming and Legalizing the Goat Farming Business
Company establishment and naming the business is an important aspect to start the functioning of business. To legalise the business, entrepreneurs need to register their business as a company like sole proprietorship, partnership firms, private or public limited company or Limited Liability Partnership (LLP).
6. Obtaining Permissions, Permits, Licenses and Certificates
Business owners need to obtain legal and documented permits and licenses required to start a goat farming business from the government authorities. The respective state authorities shall be applicable, as per the business location or area where business is managed and operated.
7. Reach out to target customers
After company registration and to initiate the business, entrepreneurs are required to reach out for its right customers that can be from wholesalers, retailers, shop keepers, suppliers, market and small vendors, local business owners, etc. Only the exact type of customers is required for business growth, revenue, profit and expansion.
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Leading banks offering loans for Goat Farming Business
- National Bank for Agriculture and Rural Development (NABARD)
- Punjab National Bank
- Bank of Baroda
- IDBI Bank
- Canara Bank
- Bank of Maharashtra
- Union Bank of India and many more
Use of Business Plan
Creating a Goat farming business plan is highly recommended for business owners, as it helps in availing business loans at low interest rates offered by private and public sector banks, Non-banking Financial Companies (NBFCs), Regional Rural Banks (RRBs), Small Finance Banks (SFBs) and Micro Finance Institutions (MFIs). Financial institutions do check self-written business plans before loan sanctioning. Presenting a well drafted business plan to any financial institution is an added advantage for the business owner.
Compare Business Loan Interest Rates from Top Banks/NBFCs
|Banks / NBFCs||Interest Rate|
|SBI||8.50% onwards (SME Loan)|
|Canara Bank||9.60% onwards|
|Corporation Bank||10.3% onwards|
|Bajaj Finserv||18% onwards|
|Lendingkart Finance||17% onwards|
|HDFC Bank||15% onwards|
|Kotak Mahindra Bank||16% onwards|
|IDFC First Bank||16% onwards|
|Axis Bank||16% onwards|
|ICICI Bank||16% onwards|
|IIFL Finance||18% onwards|
|Fullerton India||17% onwards|
|Hero Fincorp||18% onwards|
|RBL Bank||19% onwards|
|NeoGrowth Finance||24% onwards|
|Indifi Finance||22% onwards|
|Bank of Baroda||Based on your Business’s Profile|
|PNB Business Loan||Based on your Business’s Profile|
Note: The above mentioned interest rates may change and shall depend on the sole discretion of bank, NBFC and RBI. GST and service tax are not added in the mentioned charges and will be levied extra by the lender.