10. Dry flower processing
It is a great business as you could grow or collect flowers from temples and other religious places. These can be segregated and dried. These flowers have a lot of uses even after they cease to be fresh. Dried flowers can be used to make essential oils, soaps, incense sticks, potpourri, dhoop etc.
- Since dried flowers get thrown away, they can be gotten for free.
- Very low investment
- Making different products and selling the products unique with different fragrances can build a good market.
- Labor intensive. However, not much machinery is required.
- Good support from the Government under cottage industry schemes
Now that we have checked different options for high-profit farming ideas, we also need to know how to go about picking the most lucrative one and begin the business.
What is the most profitable agricultural business?
Presently, growing gourmet mushrooms is definitely one of the profitable farming ideas. It is easy to implement, doesn’t require a huge investment, and can be grown throughout the year despite climate changes. The demand is also high as consumption has peaked over the years as it is sold in local vegetable markets as well as high supermarkets.
How do you start an agri-based business in India?
Market research:
Before you commence your venture, a thorough analysis of the market will help you understand the demand and existing players is important.
- Is this a long-term business?
- What solutions can you provide for the existing problems through your venture?
- How can you position yourself in the market?
- Whether you have understood the legalities?
Business Plan
This is a business proposal in its entirety, and it will help you and investors or loan providers understand the business well as you lay out the details regarding supply, demand, competitors, procurement of raw materials, target audience etc.
Registering the business and getting a license
After you have set up the company, you need to register and get a license. Check out the types such as private limited, public limited, proprietorship, partnership and limited liability partnership, which you must choose.
Takeaway
Several profitable agribusiness ideas have been stated and explained. However, choose the one that suits your budget and connects with your region, apart from other faculties. Without a complete understanding of the crop or idea, its implementation will not yield the desired results, which may lead to loss. Failure in execution or other external factors may cause the venture to fall apart. Starting small and gaining a foothold may help you rise as you gain in every way of running the venture.