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FAQ #37483

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I am considering getting into Worm Farming...what should I do to get started?

Related resource areas: Entrepreneurs & Their Communities


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This is a loaded question for sure...I can't tell you how to raise worms although I did look into it once as a potential business, but that has been over 25 years ago. The main things to worry about at the outset of putting your business model together include:
*Is there a market for what you are producing and is it large enough to justify startup and operating costs so you create a sustainable business?
*Can you physically produce enough product to meet that expected demand?
*What does the financial feasibility look like?
*Do you really want to work that hard and spend that much time?
*Can you diversify enough to create additional sources of income above and beyond just the worms?
*What kind of value-added activities might enhance your net revenue?
*Can you obtain the necessary capital to get this business up and running?

Develop a detailed written information-packed business plan considering all aspects of this potential business you can think of and then make the go or no go decision from an informed perspective. You can start your search for resources to help with the business planning at www.tcre.org and www.agmrc.org among many other sites.

Before leaving this question, it is important that a person be encouraged to not to pay any money to anyone for an opportunity until you have done your homework and developed a business plan. This cautionary note is true for any business you might be looking to take on.

Browse related FAQs by tag: entrepreneurship, marketing, valueadded, businessplan, diversifiedagriculture

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