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
|RAW MATERIAL||BUYING COSTS (N)||QNT./ITEM||COST/ITEM (N)|
|Breeds of snails||10/breed||300||3000|
|Manual water sprinkler||680||50||34000|
|Sponge or rag||150||14||2100|
|Humus rich soil||450/kg||85kg||38250|
|Ashtray or small plastic box||380||18||6840|
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.
- Special feasibility study report on snail farming in Bori, Rivers state, Nigeria by Solomon, Leera 2013