BEEHIVE FARM

FEASIBILITY STUDY REPORT

JANUARY 29, 2025

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Table of Content

1. Executive Summary: ………………………………………………………………………2

2. Project Description: …………………………………………………………………….….2
3. Market Analysis: ………………………………………………………………………… 2
4. Production Plans: ……………………………………...………………………………… 3
5. Financial Projections: ………………………………………………………………………5
6. Risk Assessment: ……………………………………...…………………………………... 6
7. Environment and Social Assessment ……………….………………………………………7
8. Management Team: …………………………………………………………………………7
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EXECUTIVE SUMMARY
Believers Farm will be an Integrated agricultural farm in Rivers State, Nigeria. The Farm will
focus on crop production, livestock rearing and aquaculture. Believers Farm Integrated approach
aims to optimize resource utilization, minimize waste and maximize profitability.

MISSION: Empowering communities through sustainable agriculture, providing access to

nutritious food while fostering environmental stewardship and economic prosperity."
VISION: To promote food revolution by empowering communities and nourishing the planet.

1.PROJECT DESCRIPTION
1.1 Location: Port, Harcourt, Rivers State, Nigeria
1.2 Farm Size: 3 Plots
1.3 Integrated Activities: Believers Farm planned agricultural activities include:
 Food Crops (Vegetables, Yam and Cassava)
 Poultry (Chickens and Turkey)
 Fish Pond (Tilapia and Catfish)
1.4: Production Method: Organic Farming
2.0 MARKET ANALYSIS

2.1 Market Demand: Rivers State, with a population exceeding 7 million, experiences a robust
demand for foods like yam, cassava, Poultry products and Fish. This surge is driven by rapid
urbanization and evolving dietary preferences. To address the growing needs of its residents,
there is an urgent need to significantly increase the production of these and other essential food
crops within the state.

2.2 Competition: Competition is inevitable in the integrated farming approach in Rivers State.
However, Believers Farm differentiates itself through its Strength, Weakness, Opportunity and
threat (SWOT) analysis that emphasizes the following key areas:
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SWOT ANALYSIS ON BELIEVERS FARM

S W O T
STRENGTH WEAKNESSES OPPORTUNITY THREAT
Product quality Resource Limitation Few competitors Emerging Competitor
Sustainable Practices Up to date Equipment Emerging needs due
to dietary change
Adaptation to Market Changes
Direct to Consumer Marketing
Direct to Consumer sale
Collaboration
Integrated Farming System
Favorable micro climate

Strategy 2.3 Marketing Strategy: As part of its marketing strategy, Believers Integrated Farm
will employ a multi-channel approach to sales. This includes:

 Direct-to-Consumer Sales: Selling farm produce directly to the public through channels
such as farmers' markets, farm stands, and online platforms.
 Wholesale Sales: Supplying fresh produce in bulk to local markets within Rivers State.

3.0 PRODUCTION PLAN

3.1 Land Acquisition: "Believers Integrated Farm intends to acquire land for its operations
through purchase. This strategy is preferred due to the significant benefits of long-term security
and control over land resources which are crucial for the long-term success of the farm.

3.2 Infrastructure Development: Believers integrated farm although not limited will require the
following infrastructures which include:
 Boreholes
 Fencing
 Storage facilities
 Poultry Houses
 Ponds
 Road
 Bio gas Digester
 Feeding and Watering System
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3.3 Resources Management

1. Water Resource Management

 Prioritize Water Conservation:

o Efficient Irrigation: Believers farm will Implement drip irrigation systems for precise
water delivery to crops, minimizing runoff and evaporation.
o Mulching: Use organic mulch (e.g., grass clippings, leaves) to reduce soil moisture
evaporation and suppress weeds.
o Water Harvesting: Collect rainwater through roof catchment systems and store it in
tanks for later use.
 Water Quality Management:
o Wastewater Treatment: Believers farm will Implement a simple wastewater treatment
system for greywater (from handwashing, etc.) to reuse for irrigation.
 Aquaculture Integration: Tilapia aquaculture can contribute to water conservation. Fish waste
can be used as organic fertilizer for crops, while the plants help filter the water for the fish.

2. Soil Fertility Management

 Organic Farming Practices:

o Composting: Utilize crop residues, animal manure (from poultry) and other organic
materials to create nutrient-rich compost.
o Cover Crops: Plant cover crops (e.g., legumes) between growing seasons to improve soil
structure, suppress weeds, and fix nitrogen.
o Crop Rotation: Rotate crops to maintain soil health, prevent nutrient depletion, and
control pests and diseases.
 Soil Testing: Regularly analyse soil samples to determine nutrient levels and identify any
deficiencies.
 Fertilizer Application: Use balanced fertilization strategies, prioritizing organic fertilizers
whenever possible. Avoid excessive use of synthetic fertilizers to minimize environmental
impact.

3. Waste Disposal

 Organic Waste Management:

o Composting: Implement a well-managed composting system to convert organic waste
(plant residues, animal manure) into valuable fertilizer.
 Poultry Manure Management: Utilize poultry manure as a valuable organic fertilizer for crops.
Proper storage and handling are crucial to prevent nutrient loss and environmental pollution.
 Wastewater Treatment:
o Implement simple wastewater treatment systems for greywater and aquaculture
wastewater to minimize environmental impact.
 Reduce, Reuse, recycle: Encourage a "reduce, reuse, recycle" approach within the farm
operations to minimize waste generation.
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3.4 Labor Management

 Recruitment Strategy (Word-of-Mouth, Skill-Based Hiring)
 Training Programs (Regular Skill Development, Workshops and Seminars)
 Employee Benefits: Offer competitive salaries and wages commensurate with the skills
and experience of employees.

4.0 FINANCIAL PROJECTION

4.1 Investment Costs

ITEMS QTY COST

LAND ACQUISITION
Land 3 Plots N3,000,000
INFASTRUCTURE DEVELOPMENT
Fencing N1,300,000
Borehole Drilling N1,200,000
Water Pump and Installation/ waste water treatment N2,800,000
Drip Irrigation Component N 350,000
Installation of Electricity N 400,000
EQUIPMENT PURCHASE
Tractor N2,000,000
Plough N1,700,000
Sprayer N200,000
Poultry House Construction N1,500,000
Poultry Feeders and Drinkers N800,000
Tilapia Ponds N1,500,000
Pond Equipment N1,000,000
Packaging Equipment N,1,000,000
WORKING CAPITAL
Seed capital N900,000
Feed and Supplement N1,300,000
Fertilizers and Pesticide N500,000
Labor Cost N1,200,000
Contingency Funds N1,000,000

TOTAL N23,850,000
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4.2 Revenue Projection

Revenue Streams:

1. Poultry (Layers):
o Number of Layers: 1000
o Average Eggs per Layer per Year: 200
o Total Eggs per Year: 1000 * 200 = 200,000
o Sale Price per Egg: N200
o Annual Revenue: 200,000 * N200 = N40,000,000
2. Fish (Tilapia):
o Number of Fish Ponds: 5
o Fish per Pond: 2,000
o Total Fish: 5 * 2,000 = 10,000
o Average Weight per Fish: 0.5 kg
o Total Fish Weight: 10,000 * 0.5 = 5000 kg
o Sale Price per kg: N600
o Annual Revenue: 5000 * N600= N3,000,000
3. Crops (Vegetables):
o Area under Vegetables: 2 Plots
o Average Yield per Acre: 50 tons
o Total Yield: 3 * 50 = 150 tons
o Sale Price per ton: N600
o Annual Revenue: 150 * N600 = N90,000

Total Revenue Projection:

 Poultry: N40,000,000
 Fish: N3,000,000
 Crops: N90,000
 Total: N43,090,000

Market Risk Mitigating Production Risk Mitigation Financial Risk Mitigation

Strategies Strategies Strategies
Demand and Diversification Pest and Diseases Disease High Cost Financial planning
Supply prevention
Consumers Value added Climate change Insurance Low revenue Cost Control
Preference product
Competition Direct Marketing Management Diversification
Shortcoming
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5.0 RISK ASSESSMENT

6.0 ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT

Environmental Impact

a) Biodiversity Management
b) Carbon Sequestration
c) Soil health Improvement
d) Nutrient Cycling

Social Impact

a) Job Creation
b) Increased income and food security

7.0 MANAGEMENT TEAM

 Farm Manager/Director: Responsible for the overall operation and performance of the farm.
They oversee all departments, ensure efficient resource allocation, and implement the farm's
strategic plan.
 Production Manager (or separate managers for each enterprise): He’s responsible for the
day-to-day management of the farm ensuring optimal production, quality control, and adherence
to best practices. They need technical expertise in their specific area.
 Finance and Administration Manager: This role is critical for managing the farm's finances,
including budgeting, accounting, financial reporting, payroll, and administrative tasks. They also
handle procurement, contracts, and legal compliance.
 Sales and Marketing Manager: Responsible for developing and implementing the farm's sales
and marketing strategies..

8.0 CONCLUSION

This feasibility study for Believers Farm reveals promising potential for profitability, sustainability, and
positive social impact. Key findings indicate:

 Profitability: The integrated approach, combining poultry, fish, and crop production, offers
diversified income streams, reducing reliance on any single commodity and mitigating market
volatility. Cost synergies, such as using crop waste as poultry feed or fish pond fertilizer, further
enhance profitability. Projected financial models demonstrate a positive net present value (NPV)
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and attractive internal rate of return (IRR), suggesting strong financial viability. However,
sensitivity analysis highlights the importance of managing input costs and achieving projected
yields to maintain profitability.

 Sustainability: The integrated farm promotes a circular economy model. Nutrient cycling
between crops, fish, and poultry minimizes waste and reduces the need for external inputs like
chemical fertilizers, lessening the farm's environmental footprint. Integrated pest management
strategies minimize pesticide use, further protecting the environment. The project also
emphasizes the potential for carbon sequestration through sustainable soil management practices,
contributing to climate change mitigation. Careful management of water resources and
responsible waste disposal are crucial for long-term environmental sustainability.

 Positive Social Impact: The project is projected to create numerous employment opportunities
within the local community, boosting rural incomes and improving livelihoods. Skills
development and training programs for employees will enhance their capabilities and create
opportunities for advancement. The farm's diversified production will increase local food security
and access to nutritious products. Furthermore, the project's commitment to responsible labor
practices and community engagement will contribute to positive social development. Mitigation
strategies are in place to address potential social risks, such as labor exploitation or community
conflicts.

In conclusion, the feasibility study suggests that Believers farm has strong potential to be a profitable,
sustainable, and socially beneficial enterprise.