What is the Poultry Farming Business?
Poultry farming is a type of business that covers a variety of captive-bred birds, such as chickens, ducks, turkeys, and so on. It has the potential to be India’s fastest-growing agriculture and farming business. Poultry farming incentivises the domestication of distinct types of birds for the production of eggs and meat. Up to 3 million farmers are already involved in poultry farming and are reaping the benefits.
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Previously, poultry farming was constrained to the backyard, but it has evolved into a techno-commercial industry, with entrepreneurs showing interest in this field. It is not difficult to start a poultry farming business. We’ve outlined 10 basic steps for you to follow to start a poultry farming business in India. Continue reading this article for simple steps to make your route less difficult.
Steps to Start a Poultry Farming Business in India
The following are the eight steps for beginning a poultry farming business in India in simple words and as a step-wise process. Team Setindiabiz is available to assist you in setting up your business anywhere in India. We are considered to be the best for Company Registration or for the purpose of LLP Incorporation.
Step No
Step Wise Process to Setup Poultry Unit.
1.
Pick your Poultry Sector & Type of Bird:
To begin, choose a sector to assist, such as chicken breeding, broilers, poultry feed, egg and meat processing, and so on. Then choose the sort of bird you want to raise for your business. Layers like a duck, pigeon, turkey for egg production, and broilers like chicken for meat production are the two types of birds available.
2.
Decide the Location of your Farm:
Decide on the acreage from where you will run your poultry business, keeping in mind the proximity of market and logistics that are necessary for the business
3.
Decide on the appropriate form of business:
Choose a business entity for your poultry farming venture as selecting the best-suited type of business format as per the scale of operation or funding requirement of your poultry business will play a greater role in future. Though Setindiabiz helps to set up all kinds of businesses in India, the following are some of the most commonly used business entities from which you may choose the right one. To understand in detail the pros and cons of several business entity types please refer to our comparative analysis at https://www.setindiabiz.com/types-of-business.
- Sole Proprietorship: A sole proprietorship is the most basic type of business, with one owner responsible for both the financial and legal aspects of the company. Your firm does not need to be registered with the state as a sole proprietorship. You must also obtain the applicable licenses and permits. It involves less paperwork, is easy to start, and has no corporate business taxes. Further, a sole proprietorship can be a risky form of business as there is no liability protection. The proprietor liability to the business is unlimited and hence we do not recommend a proprietorship firm, instead for a single owner a One-Person Company (OPC) is a better choice. Learn More
- Partnership: A partnership is a legal entity with two or more owners that operates jointly as a firm with joint and severe liability. This is like instead of one proprietor we have two and because they share capital/profits of the firm, they are commonly referred to as the Partners. We do not recommend a partnership firm for the poultry business and instead as an alternative, you may consider an LLP or a Private Limited Company. Click here to Read More.
- Limited Liability Partnership: LLP is an abbreviation for Limited Liability Partnership. It is considered a hassle-free sort of business and easy to carry out day-to-day operations. An entrepreneur can avail of many benefits if he/she chooses LLP to incorporate business. Like, such as lower registration costs, lower compliance burden, partners’ participation in business, and so on. We highly recommend the LLP if you are starting a poultry farming business. Click here to Read More.
- One Person Company: OPC is an abbreviation for One Person Company. One-person company is highly advisable for sole owners in comparison to going for a proprietorship. OPC will offer you a business entity and limited liability. We will help you to make an OPC and provide all the legal compliance. Learn More
- PVT Limited Company: PVT Limited Company is undoubtedly the best form to start a business. It offers limited liability, separate legal entity, flexible, easy maintenance, etc. We highly recommend PVT Limited Company as it provides many legal benefits to the owner to protect the business. Click here to Raed More.
4.
Decide the Name, LOGO, and Trademark for your company:
Create a name and logo for your company. Keep in mind its distinctiveness and creativity so that it will strike out in branding. Place your logo on visiting cards, farms, websites, packaging boxes, and other places. Also, don’t forget to get the name and logo registered as Trademark. Setindiabiz offers its Trademark Filing Services at a very reasonable fee and processes the application in a time-bound manner.
5.
Define your target market:
Identifying your target market is vital and fundamental to the performance of the company. Examine who your consumers are and how they may locate you. Determine your target clients and devise a strategy for marketing your items to them directly.
6.
Generate a business plan:
After determining your target market, develop business tactics. Make a list of the points you’ll need to remember, such as How many broilers or layers you’ll need to raise? What are the size and market requirements? What kind of fence, shelter, waterers, and feeders will you need for them?
7.
Capital Allocation:
Decide how much money you want to put into it. How much does it cost to build a chicken coop? How much will it cost to look after domesticated birds? What will the cost of their food, medication, and supplements be? In addition, capital is necessary to cover the costs of machinery, transportation, and raw materials, as well as pay personnel salaries. Make sure that each of the working capital requirements has a sufficient cash flow.
8.
Market and Advertising:
Create a visually appealing marketing and advertising strategy for your company. You can do this with the help of visiting cards, websites, social media platforms, brochures, and other materials. Furthermore, you can sell your product in the nearby market store to raise awareness of your product.
9.
FSSAI Registration/License:
FSSAI is an abbreviation for “Food Safety and Standards Authority of India.” It ensures that food business operators provide safe, healthy, and safe food (FBO). An FSSAI permit is issued for any business that deals with food that people consume. The court of law The FSSAI has established some conventional laws to ensure adherence through regular inspections. Setindiabiz professionals will assist you with FSSAI registration and make the process as simple as possible.
10.
Source of Funding
Describe how you intend to raise capital for your company. Banks, friends and relatives, crowdfunding, and so on.
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