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Home Entrepreneurship BUSINESS: How to make money from buying and selling goats
BUSINESS: How to make money from buying and selling goats

BUSINESS: How to make money from buying and selling goats

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Goat Market in Nigeria is one of the biggest in the world and people are making huge profit buying and selling goats. With the hope that you are reading this write-up in a good state of health, I welcome you to goat business.

Livestock marketing is one business that has made many millionaires, and many people are still growing their fortunes through the business.

Nigeria is the leading livestock market in west Africa according to research. The demand for meat in Nigeria is very high. The demand is even greater in the southern cities, where at least twenty species of bush-meat are eaten.

The most common livestock that are dealt with in this business are cows and goats. I choose to write on goats as it requires a very much lesser start-up capital and lower risk compared to dealing in cows.

Profit Potential in Goat Business

In this (goat) business, with a start-up capital of two hundred and fifty thousand naira (N250,000), you can earn an average of fifty thousand naira (N50,000) weekly which gives you two hundred thousand naira (N200,000) monthly. I am sure this will sound doubtful to many. Follow me as I present to you the analysis bellow.

Livestock (especially cows and goats) are generally cheaper in the northern part of Nigeria. They are even very much cheaper if you visit village markets in states like Kano, Sokoto, Zamfara and Katsina.

Depending on the physical size, you can get a healthy fully matured goat in these village markets between N6000 – N8000. And if you transport it to Abuja, you sell it to awaiting dealers and get a minimum profit of N2000 (note: transport + other minor expenses have bn considered). This profit is higher if you transport it to Lagos, Kwara, and Porthacourt states (I don’t know of other states), with profits between N4000 to N5000.

Cost of Buying and Selling of Goats

Note: If you are a novice in the business, you definitely need an agent to guide you for at least two months. The agents know the village markets better.

They escorts you to the market, and assist you in negotiating/striking the best deal. They even link you up with dealers {if you are taking your goats to Abuja or Lagos} so that you sell your goats upon arrival.

  • Average cost per goat= N7000 x 25 = N175,000
  • Transport to Abuja= N30,000
  • Loading and offloading= N2,500
  • Agents fee per goat= N100 x 25 = N2,500.
  • Miscellaneous= N10,000
  • Total = N220,000.

Now, depending on market trend, selling price at Abuja is between N11,000 to N15,000.

Working with the minimum

Sell N11,000 x 25 = N275,000.
Profit = N275000 – N220000 =______
Fill in the blank space.

Please, research the current cost of goats in the city you live and put it in as a comment for the benefit of interested investors.

Risk in Goat Business

  1. Accidents
  2. Theft (although very rare armed bandits might attack you and seize your goods, God forbid)

Opportunities in Goat Business

  1. The market is always available (people will continue to eat meat till end of time)
  2. You can insure your business against accidents and theft.

 

 

 

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