Poultry farm is considered to be the fastest-growing division of the agriculture sector. The government has been making extensive investments in the processing, breeding, rearing, and hatching processes to further boost growth. Around 3 million farmers and 15 million agrarian farmers are working in the poultry industry and have helped in the contribution of approximately Rs. 26,000 crores to the national income.
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To start a poultry business, it is recommended for business owners to create a business plan. Below mentioned are the steps to start a Poultry business:
7 Steps to Start Your Own Poultry Business in India (2022)
Follow the below steps to start your own poultry business in India:
Step 1: Finalizing the sector: The first task is the decision of finalizing the sector to cater to, such as chicken breeding, broilers, poultry feed, egg and meat processing, etc.
Step 2: Choosing the birds: Choose two types of bird broilers that are used for meat processing and layers that are used for egg production.
Step 3: Finalizing the location: Finalize the location of the farmland from where the business will be operated and managed.
Step 4: Naming the business: Name registration or company establishment as per state laws.
Step 5: Arranging funds: Credit requirements to meet the working capital requirements like buying equipment and machinery, purchase of raw materials, paying-off salaries, managing cash flow, etc.
Step 6: Marketing and Advertising: Even the business plan should contain details of marketing and advertising strategies.
Step 7: Finding the target audience that includes wholesale markets, retailers, business owners, shop vendors, etc.
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Features of SBI Poultry Loan – October 2022
|Interest Rate||Depends on the applicant’s profile, business area, size, and volume|
|Loan Amount||As per business requirements|
|Loan Usage||Loan to be used by new and existing farmers|
|Purpose of Loan||For the construction of feed rooms, sheds, and other poultry farming products|
|Collateral Security||Mortgage of poultry farming land of an area covering at least 50% of the advance|
|Repayment Tenure||Up to 5 years, including 6 months of grace period for bi-monthly installments|
The amount of money required to start a small-scale poultry farm is generally between Rs. 50,000 to Rs. 1.5 lakh. For a medium-scale poultry business, the funds required are approximately Rs. 1.5 lakh to Rs. 3.5 lakh. Large-scale poultry farms can be started with an investment of close to Rs. 7 lakh. To meet these requirements business owners can opt for business loans from various financial institutions like banks and NBFCs and start their own poultry business. Opting for a business loan is considered to be a wise decision, as it helps business owners in making business investments without utilizing their lifetime savings.
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Top Banks offering Loans for Poultry Farming
Leading banks offering Poultry Farming business loans include the following:
- HDFC Bank
- Punjab National Bank
- IDBI Bank
- Federal Bank
- Karur Vysya Bank
- Canara Bank
- Bank of India and several other financial institutions.
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs – October 2022
|HDFC Bank||10.00% – 22.50% p.a.||Apply Now|
|FlexiLoans||1% per month onwards||Apply Now|
|ZipLoan||1% – 1.5% per month (Flat ROI)|
|Axis Bank||14.25% – 18.50% p.a.||Apply Now|
|IDFC First Bank||14.50% onwards|
|Kotak Mahindra Bank||16% – 19.99%||Apply Now|
|Fullerton Finance||17% – 21%|
|Bajaj Finserv||17% p.a. onwards||Apply Now|
|RBL Bank||17.50% – 25% p.a.||Apply Now|
|ICICI Bank||17% onwards|
|Indifi Finance||1.5% per month onwards||Apply Now|
|Lendingkart Finance||1.5% – 2% per month||Apply Now|
|Tata Capital Finance||19% p.a. onwards||Apply Now|
|NeoGrowth Finance||19% – 24% p.a.||Apply Now|
|Hero FinCorp||Up to 26% p.a.||Apply Now|
Note: Business loan interest rates are updated as on October 2022.
Apply for a Business Loan to Start your own Poultry Farming Business
To apply for business loans for poultry farming, firstly check your eligibility criteria defined by the respective bank that you prefer to apply for a loan.
Secondly, fill in the loan application form along with basic documents after checking and comparing all the available loan options, as per business requirements.
The basic details shall be the required loan amount, business tenure, annual turnover, and current city. Further, the loan formalities shall be performed by the bank’s representative.
After the loan is approved the loan amount shall get disbursed in your bank account in defined working days at the sole discretion of the lender.
Benefits of Poultry Farming Business
Some of the key benefits of starting a poultry business are mentioned below:
- Source of income generation
- Increases employment opportunities
- Requires small capital to initiate
- Considered as a continuous source of income
- Requires less water
- Poultry products provide high nutrition
- Poultry business reaches no profit no loss in lesser time
- Two types of food items are produced – eggs and meat
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Find below the information on documents required to start your own poultry farming business:
- Duly filled application form along with Passport-sized photographs
- Identity Proof: PAN and Aadhaar card
- Company’s incorporation certificate
- Business land documents
- Business Licenses and permits, as per state laws
- Last 12 months’ bank statement
- Animal Care Standards to be furnished
- Any other document required by the lender or bank
List of equipment/machinery used and required for the Poultry Farming Business is further discussed:
- Automatic feeder
- Automatic vaccinator
- Bell-type automatic waterer
- Brooder and Chick guard
- Charcoal and Kerosene stove
- Circular feeder
- Compressed air system
- Electrical heaters (heating rods or coils)
- Emergency standby electric plants
- Fowlpox vaccinator/lancet
- Gas and electrical brooders
- Hatchery automation equipment
- Hatching egg transfer machines
- Hatching egg trays
- Infra-red bulbs
- Linear feeder
- Linear waterer/Channel type waterers
- Nest Boxes
- Nipple and Manual drinker
- Pan and Jar type
- Shell grit box
- Syringes with needle/vaccine droppers
- Water basin made of plastic/wood/GI with grill
- Water heaters
- Water softeners and filters
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Q. What is poultry farming?
Ans. Poultry farming is all about raising birds for the purpose of selling meat and eggs and creating wealth out of the business.
Q. Can I take a business loan to open a poultry farm?
Ans. Yes, you can take business loans from many financial institutions to start a poultry business.
Q. How much money do I require to open a poultry farm?
Ans. The money required to open a small-scale poultry farm can be close to Rs. 50000 and can exceed up to Rs. 10 lakh for large-scale poultry farming.
Q. What are layers?
Ans. Layers are the types of birds only used for producing eggs.
Q. What are broilers in Poultry Farm?
Ans. Broilers are types of birds mainly used for meat production.
Q. Is poultry farming or business a better option for first-time business owners?
Ans. Yes, poultry farming is one of the convenient businesses to start for first-time business owners.