If you are planning to launch a business, the first step is to have a solid idea. An idea should be market driven and should provide solutions to the customer’s problem. If your idea directly targets the concerns of consumers then your business will be successful.
But to know the concerns of consumers, an entrepreneur must research and evaluate issues at different economic layers. Examining your idea with both pros and cons and competitors in the market will give you an edge. If you are thinking of starting your own business, then we have some cutting-edge ideas.
Poultry Farming:
To enhance the output of eggs and meat, domesticated birds are raised for commercial purposes in poultry farming. Farms typically raise chicken, turkey, ducks, and geese as food birds. The fastest-growing sector in agriculture, with a market value of Rs. 80,000 crore, is chicken farming, with 8% to 10% yearly growth. If you are thinking about investment, choose the industry that best fits your interests, such as manufacturing of meat, production of eggs, feeding of poultry production, manufacturing of equipment used for chicken farming, processing of meat and eggs, chick development and packaging, and marketing.
Goat Farming
Since goat milk is well-known for its health advantages and is frequently used to create a variety of dairy products, including cheese and yoghurt, it is also very popular. Access to healthy, genetically superior animals is essential for goat breeders.
Based on ICAR the goat farm currently makes between Rs. 4 and Rs. 5 lakh in gross annual revenue, and between Rs. 1.5 and Rs. 2 lakh in total annual expenses, resulting in between Rs. 2 and Rs. 3 lakh in net annual income.
Fish Farming
It is important to know the type of fish an entrepreneur wants to cultivate. Different regions of the country have divergent demands hence cultivating the fish as per the demands, and location is necessary. For example, cultivation of Catfish is profitable and has a huge market demand because of its health benefits. Among the species of Catfish, Blue Catfish, Channel Catfish, and flathead catfish are necessary.
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