With 30,000 snails, one can produce hundreds of eggs and when hatched 1,000,000 snails, which worth more than N5 million twice a year. So one can make money from both the eggs when they hatch and the appreciation of the size of the snails.
If your startup capital is #100,000 for example, you can generate the sun of #1,000, 000 in one year. Some people in other livestock may earn another #100,000, if they met no risk in a year.
If a grower begins a snail farm with say 50 snails, it can produce averagely up to 250,000 adult snails worth over #500,000 in a year
For example, matured raw snail in-shell cost N 500 to N 600 per one while the same size of the processed snail cost N 600 to N 700 per snail respectively.
DIRECT COSTS OF THE BUSINESS
Direct material cost form per item/1 batch of matured land snails
1 | 2 | 3 | 4 |
RAW MATERIAL | BUYING COSTS (N) | QNT./ITEM | COST/ITEM (N) |
Breeds of snails | 10/breed | 300 | 3000 |
Plastic aquarium | 450 | 40 | 18000 |
Manual water sprinkler | 680 | 50 | 34000 |
Sponge or rag | 150 | 14 | 2100 |
Pebbles holes | 450 | 55 | 24750 |
Cactus flowerpot | 700 | 54 | 37800 |
Humus rich soil | 450/kg | 85kg | 38250 |
Ashtray or small plastic box | 380 | 18 | 6840 |
TOTAL | 164,740 |
Total cost=Direct Material Costs + Direct Labour Costs + Indirect Costs = N164740 + N 50300 + N 25447.7
Total costs = N 240487.7
Hence N 240487.7 is required to start the snail farm business. Although the sum of N 250,000 was required so that the balance of N9512.3 will serve as back up capital in bank in case of any emergency. Note: Cash at the end of the year = total cash in – total cash out = N 804487.7 – N 298540 = N 505947.7
Hence, the first years estimate sales and net profit is N 505947.7 for year 1.
Source
- Special feasibility study report on snail farming in Bori, Rivers state, Nigeria by Solomon, Leera 2013