Do you want to start a cricket farm? If YES, here’s a complete guide to starting a cricket farm with NO money and no experience.
Gone are the days when you start only businesses that are appealing. These days, the farming business has become appealing because of the revenue it generates. If you are planning to start a business with less stress and high returns on investment, then the cricket farm business ticks all the right boxes. Raising cricket is one business that guarantees one constant profit.
The process of raising cricket is cheap and very comfortable. Another advantage of this business is that it can be done from the comfort of your home. There are several steps you need to take to start a cricket farm business and you have to be determined before you can succeed. This article will walk you through all the processes involved in the cricket farm business.
Steps to Starting a Cricket Farm
Table of Content
- 2. Conduct Market Research and Feasibility Studies
- 3. Decide What Niche to Concentrate On
- 4. Know the Major Competitors in the Industry
- 5. Decide Whether to Buy a Franchise or Start from Scratch
- 9. Discuss With an Agent to Know the Best Insurance Policies for You
- 10. Protect your Intellectual Property With Trademark, Copyrights, Patents
- 11. Get the Necessary Professional Certification
- 12. Get the Necessary Legal Documents You Need to Operate
- 13. Raise the Needed Startup Capital
- 14. Choose a Suitable Location for your Business
- 15. Hire Employees for your Technical and Manpower Needs
- 16. Write a Marketing Plan Packed With ideas & Strategies
- 17. Develop Iron-clad Competitive Strategies to Help You Win
- 18. Brainstorm Possible Ways to Retain Clients & Customers
- 19. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
1. Understand the Industry
The cricket farming business is a highly profitable one. Cricket is known to have more protein density per bite than beef. This is a relatively new industry but people are already getting more enlightened about its nutritional health benefits to humans.
Awareness is on-going to enlighten people on the fact that cricket is suitable for human consumption. A 100g of cricket contains 16-21 grams of protein. It is also widely enjoyed for its great taste and crispy feel. There is not much to talk about the cricket farm industry because it is just emerging, but in a couple of years it would boom.
2. Conduct Market Research and Feasibility Studies
- Demographics and Psychographics
The demographic and psychographic composition of those that need cricket is not limited or restricted to a specific group of people. The demand for cricket goes beyond any geographic boundary. Cricket is usually consumed by different culture which means the market is encompassing.
So, looking at defining the demographics of your cricket farming business, you need to make it all encompassing. It should include individuals, households, businesses, restaurants, hotels, supermarkets, food hubs, and grocery stores that rely on the supply of cricket.
3. Decide What Niche to Concentrate On
It is really vital that you know the area or areas that you want to channel more energy into. There is no specific niche area of specialization in the cricket farming business, although some cricket farmers could choose to delve into cricket packaging and processing instead of direct sale to the farm market without adding value to it.
So, if you are thinking of starting-up your cricket farming business, then you should clearly define your market in order to know how to supply your product to your customers.
The Level of Competition in the Industry
It doesn’t matter the industry you decide to pitch your tent in, you are definitely going to face competition. The same rule applies in the cricket farming business which is not an exemption to that fact.
The level of competition you will experience in the cricket farming industry depends on the capacity of the cricket farm you intend to set up. If you can include cricket processing and packaging successfully to the services you render in your cricket farming business, then it would help to reduce your level of competition. For instance, if you enjoy the monopoly of cricket processing and packaging in your area, you can successfully take control of the market in the nearer future before you start having competitions.
4. Know the Major Competitors in the Industry
Every industry has top brands; there will always be brands that are generally known by customers and the public than others. Most of these brands have been in the industry for a long time, and they are best known for their excellent products and services, and the achievements they have made in the industry over the years.
These are some of the leading cricket farms in the United States and around the world;
– Ohio’s edible cricket farm
– Tiny farms
– Coalo valley farms
– Aketta Cricket
When starting your cricket farm business, you have to get your economic analysis right if you really intend to start the business with the sole aim of generating profit. You need to know how you would grow and expand the business and start exporting processed and packaged cricket within your country and other countries of the world.
When putting together the economic analysis of your cricket farm business, you would need to examine some key factors such as access to cheap labor, access to the market, and good climatic condition.
At regular intervals, you would need to continue to review these key factors while running your cricket farm business. As a cricket farmer, you need to perfectly understand your competitive landscape if you want to maximize profits and be a leading cricket brand the industry.
5. Decide Whether to Buy a Franchise or Start from Scratch
The choice of business model to start with is not cast on stone. Basically, you should be guided by your business vision and mission statement. However, for the cricket farm business, it would be better to start from the scratch as you will find it difficult to get the franchise of a cricket farm to buy.
Besides, starting your cricket farm from the scratch is less stressful compared to most small scale businesses which would require more elaborate groundwork before starting the business.
All you need in a cricket farm is to get your business license, start-up capital, a good land in a good location suitable for cricket farming, and market your business by using marketing tools such as the social media (internet).
Note that most of the big and successful cricket farms we have in the industry today all started from the scratch and they were able to successfully build a solid business brand.
6. Know the Possible Threats and Challenges You Will Face
Every business has its own characteristic challenge. If you have decided to venture into the cricket farm business, one of the major challenges you would encounter is the presence of established cricket farms close to where you are operating from.
This can’t be stopped; one can only manage it by creating your own distinct and unique market. Also, shift your focus to individuals, household, small restaurants and hotels that may need a steady supply of cricket.
Some other likely threats and challenges to face in the starting your cricket farm business are global economic downturn which affects household spending, bad weather and natural disasters, unfavorable government policies and the arrival of a strong competitor within the same location. There is little you can do concerning these threats and challenges except for you to be optimistic about life and about things taking a positive shape for you.
7. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)
For the cricket farm business, you have the option of choosing a sole proprietorship, a general partnership, or a limited liability Company (LLC).
The sole proprietorship option should have been the appropriate business structure for a start-up cricket farm business with moderate capital. But for obvious reasons, the limited liability Company is preferred.
If you have the intention of expanding your cricket farm business to reach everywhere in the United States and beyond, then a sole proprietor is not an option for you at all. General partnership or Limited Liability Company, LLC will be the ideal choice for you.
Setting up an LLC will help guide your business against personal liability. In such situation, you stand to lose only the money you have invested into the limited liability company. This is not so for general partnership and sole proprietorship. Limited liability Company have simpler and more flexible business operating structure as you don’t need a board of directors, holding shareholders meetings or other managerial formalities to run your cricket farm business successfully.
Here are some of the factors you would have to consider before choosing a legal entity for your cricket farm business; ease of transferability, limitation of personal liability, admission of new owners, taxes and investors’ expectation.
If you study the various legal entities critically, you will agree that Limited Liability Company is the most suitable for your cricket farm business.
8. Choose a Catchy Business Name from the ideas Below
Generally, when it comes to choosing a name for your business, you should be creative because the name you choose for your business will go a long way to create a perception to the public about your business. Typically, it is a norm for business owners to follow industry trend when naming their business.
Here are some catchy names that you can choose from when naming your cricket farm;
– Crunchy croak farms
– Tasty spice cricket farms
– Protein clad cricket farms
– Creepy spice cricket farm
– Fantastic cricket farm
9. Discuss With an Agent to Know the Best Insurance Policies for You
One cannot start-up a business in most countries in the world especially in the United States without having some basic insurance policies in place. Creating a budget which caters for insurance and also consulting an insurance broker to guide one in deciding on the best insurance policies for your cricket business is very important.
The following are the major basic insurance policy covers one needs to consider having when starting up your own cricket farm business in the united States of America;
- Liability insurance
- General insurance
- Farm Equipment and Auto Insurance
- Commercial Agribusiness Insurance
- Health insurance
- Business owner’s policy group insurance
- Workers compensation
- Overhead expense disability insurance
- Payment protection insurance
10. Protect your Intellectual Property With Trademark, Copyrights, Patents
When starting your cricket farm business, getting intellectual property protection/trademark is not necessarily needed in the setting up the business. The business can be run successfully without having any legal problem with anyone concerning the use of your company’s intellectual properties.
11. Get the Necessary Professional Certification
You don’t need any formal professional certification to run a cricket farm. But you need to consult an established cricket farm to learn about the rudiment of cricket farming and also learn from their experience. This would help you prepare well for any challenges that would come your way in the course of running the business.
12. Get the Necessary Legal Documents You Need to Operate
In the United States of America, every business owners must have proper documentation in place before starting a business.
To legally run your own cricket farming business in the United States, here are some basic legal documents which you are required to possess;
- Business Plan
- Business License
- Certificate of Incorporation
- Employment Agreement
- Assistant’s licenses for assistants
- Health inspection Certificate
- Employee’s Handbook
- Non-disclosure Agreement
- Business and liability insurance
- Tax Payer’s ID
- Farm Partnership Agreement
- Operating Agreement for LLCs
- Proof of ownership and vehicle license
- Fire certificate Appropriate
- Driver’s licenses for drivers
13. Raise the Needed Startup Capital
Every business needs a substantial amount of capital if one wants to become a regular supplier to places beyond one’s vicinity. The cricket farm business would require less capital to start-up because of the availability of its feed and other things needed to start-up this business.
In sourcing for start-up capital for your cricket farm business, the following are the options to be considered;
- Sell of shares to interested investors
- Raising money from personal savings and sale of personal stocks and
- Source for soft loans from your family members and your friends
14. Choose a Suitable Location for your Business
The cricket farm business is a type of business that can be started from home, once you get the necessary equipment for it. As regards marketing of your product, you need to consider accessibility when choosing a location for your business as most of your clients would like to visit your cricket farm.
15. Hire Employees for your Technical and Manpower Needs
When it has to do with starting up your cricket farm, you will need a large tank or container to house your crickets. Lay the container floor with vermiculite to enable your cricket walk freely. Also create holes in the container for ventilation and also cover it up with metal mosquito screen to prevent escape.
As regards the number of employees needed to kick start this business with, you would need to consider your financial outlay before making the decision. For large scale cricket farms, you would need the services of the following; Chief Operating Officer (you can take up this position), Farm Manager, Accountant, Field Employees, Sales and Marketing Executive, Cleaners and Security Guards. You would need a minimum of 5 to 10 key staff members to effectively run a standard medium scale cricket farming business.
The Service Delivery Process of the Business
When it comes to the service delivery process of a cricket farm, the process is not cumbersome, it is straight forward and simple, and as a matter of fact, a cricket farm can be run successfully with little or no supervision.
Basically, you need a large container or tank to place these crickets while you feed them till they are mature for the market. You are to feed them with premium dry cat food or specially made food for crickets. Feed till satiation to enable them get mature quickly for the market. Once the crickets are matured, they will be harvested and then sold off to buyers.
16. Write a Marketing Plan Packed With ideas & Strategies
As a cricket farmer, you would need to prove to everyone that you have what it takes to manage a cricket farm and also supply crickets in commercial quantities to various markets on a consistent basis.
So, if you have plans to start your own cricket farm business, you will be better served to first breed it in large quantity before supplying it to hotels or food processing and packaging companies. When drafting your marketing strategies and plans for your cricket farming business, make sure you create a compelling personal and company profile.
Apart from your qualifications and experience, it is also important to state in clear terms what you have been able to achieve as it relates to the cricket farm industry. This will boost your market opportunities when marketing your cricket.
Here are some of the platforms you can utilize to market your cricket and its produce;
- Introduce your business by sending your brochure and introductory letters to households, restaurants, hotels, food processing and packing companies that require a steady supply of cricket
- Promptly bidding for cricket supply contracts
- Launch your cricket farm with a party to capture the attention of residents near you
- Engage in roadshows in your location from time to time to sell your crickets
- Advertise your cricket farm in community-based newspapers, TV and radio stations
- List your business and products in local directories
- Promote your cricket business via the internet and social media
- Engage in sales and direct marketing
- Encourage the use of referrals
- Join local chambers of commerce and industry around you to market your products
- Engage the services of marketing executives to help you market your cricket directly
17. Develop Iron-clad Competitive Strategies to Help You Win
One of the competitive strategies to win your competitors is in how you sell your cricket. Pricing is one way to win your competitors in the market. Make sure your price is affordable and highly attractive compared with your competitors. One of the ways to reduce your price is by sourcing for start – up capital from sources that won’t burden you with high-interest rates.
Another competitive strategy that will enable you sell your cricket at competitive price is to cut operational cost to the barest minimum.
18. Brainstorm Possible Ways to Retain Clients & Customers
For any business to succeed, one needs to find ways to retain its customers. This is because your customers determine your overall success in the business. One easy way to increase customer retention while attracting new customers is by ensuring your customers get an excellent product and service from you.
Ensure that you satisfy your customers’ needs through excellent service delivery. With this, your customers will always remain loyal to your product. Statistics shows that one reason why customers’ turn to other competitors to get their products is when there is a reduction in the quality of service. Another reason is poor customer service.
If you can consistently improve on the quality of your service delivery, then it would be much easier to maintain loyal customers.
19. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
If you have a business but you don’t improve your brand awareness nor do you communicate your corporate identity to people, then you would have to accept however society views your business. Big organizations’ ability to spend substantial amount of money yearly is the main reason behind the increase in their brand awareness.
While starting a cricket farm, one must have the intention to expand the business beyond the city where it is situated in and turning it into a national and international brand. This can be achieved when one invests money on promotions and advertising. One can promote their business brand and corporate identity by using the social media (internet) as it a has huge impact on brand awareness.
Generally, the use of internet and other social media platforms to promote your brands is very important and effective since it is widely accessible globally. Sponsoring current community based programs and also advertising your business in magazines and newspapers is another major way of promoting your brand.
The following are the different platform to boost your brand and promote your business;
– By advertising on related newspapers, TV and radio stations
– Mouth publicity from your loyal customers to people
– Using the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other related platforms to promote your business
– Your brand banners and billboards should be erected at strategic location around your city
– Distributing fliers and handbills within targeted areas in your environment
– By calling up small businesses and international businesses to let them know about your brand and the product you offer
– Advertise your business on your official website and employ strategies to drive more people to your site
– All members of staff of your management must put on the branded shirt or cap at business hours and your official cars and delivery vans should be branded too