☰
✕

How to open Fertilisers and Seeds storage store?

OkCredit -

Agriculture is one of the biggest industries in India and many other countries. A vast majority of the population depends upon it for their livelihood. Thus, all allied activities concerning agriculture are also always in demand and can be profitable. One such thing is seed and fertiliser storage stores. Fertilisers and seeds are the core of any agricultural activity, and their maintenance and storage involve various complexities. Thus, there are enormous business opportunities in the seed and fertiliser business. Today we will give you an easy step-by-step guide to starting a fertiliser and seed storage store.

How to start a storage facility for fertilisers and seeds?

1. Research

Research forms the core of any business. Any business must be up to date with its research before starting a business. This is especially important for a fertiliser and seed business because it involves different scientific elements. Concrete research will help you understand all the minute details of the business and help you avoid hurdles in the future. Here are a few things you should research on:

2. Fertiliser and Seeds

Seeds and fertilisers come in different types, such as liquid insecticides, pesticides, organic compost, genetically modified seeds, etc. All these require different techniques of storage and maintenance. Some fertilisers require a specific temperature, while others require a certain level of moisture. It is essential to research all these aspects to know the methods of storage for each fertiliser fully. Any lack of maintenance in future can not only cause losses to the business but also risk the lives of everyone living around.

3. Market

It is important to understand the market and your consumer base before starting out. For this, you must study the kinds of crops grown in the vicinity of your business. Study the soil, the kinds of nutrients it needs, the species of crops grown there, farmers' difficulties, and other aspects of agriculture in that area. Understanding all these aspects will help you determine the kind of products sold in the market. Thus, boosting your customer base and providing value to them.

4. Allied Services

Apart from storage, the fertilisers and seeds require many other processes before reaching the farmers. Transportation, packaging, evaluation, quality control are all critical steps involved in the maintenance and delivery of fertilisers. You can start these allied services within your storage business to expand your growth. Many farmers and agricultural units are now also seeking scientific evaluations and consultations regarding their soils, seed preparation, etc. You can use the existing research of your business to provide these additional services.

5.Planning

Once you gather all your research, the next step is to prepare a business plan. A solid business plan helps you in determining your products, limitations, investment requirements, etc. This process is vital to determine your business goals and define what your business stands for. It is essential for chalking a pathway for your business. This is where you will utilise the research done in the first step. Business plans are also crucial in case you want investors for your business. To achieve a robust plan, you can do the following with your team.

First, start with segregating all your research and making it more organised. It will help you gain more clarity and ensure you do not miss out on relevant aspects. Making charts, tables, and visual data analytics tools will be vital in this step.

Second, understand your financial capacity. Fertiliser and seed storage are not zero investment businesses and require a certain amount of investments for raw material and land. Hence, it is vital to evaluate how much capital you have or can arrange.

Third, combine the data from both, and choose your options. Eliminate options that do not fit in your budget and create a list of viable options. For example, a liquid fertiliser storage cylinder requires expensive machinery and giant storage units, which may not fit your budget. Do keep in mind that this process will be tedious and create a lot of disagreements. But do not give up, this is only the beginning of your business, and you can continually expand to newer varieties in future.

6. Sampling and Testing

This is a mandatory procedure that has to be followed before starting a storage facility. It is essential to evaluate and test every sample before starting. Any small error in screwing can lead to leakage, blasts, and breakdown of the entire business. The government issues a checklist of compliance for testing and approval, so make sure to follow that.

Lack of legal compliance can lead to hefty penalties and even criminal liability. Make sure you procure all licenses required by the ministry. In India, all licenses are governed by the state government, so the procedures will differ from state to state. Thus it is better to consult a lawyer from that state to get all approvals.

Industries dealing with harmful chemicals like fertilisers have an additional level of scrutiny. In India, these industries have absolute liability. In case of any damage caused by the company, the company will have to compensate for all losses even if the same is caused by accident or the company has no-fault. This shows that the law is stringent when it comes to the fertiliser and seed industry, and hence you should not ignore legal compliance at all. Apart from that, even the officers in government offices can be helpful. They will guide you in finding all the required licenses and the procedure to procure them. This can be a time-consuming process and may take a few months to complete.

8. Tracking sales and management

Even after you start your business, it is crucial to keep track of your sales, staff, profit, and quality. Managing all this can become very difficult and confusing once the business starts to gain momentum. At this time, invest in digital tools and methods that automate a few tasks to make it easier for you to manage. For example, you can use Okcredit to track your business expenses and maintain accounts. Okstaff can be used to keep track of employees, payroll, attendance, etc. Such tools make maintenance and management more accessible, allowing you to focus on the growth of your business entirely.

Tracking your company's growth is vital to understand its performance. It helps you get a perspective on what is working for you and what is not. It will also give you an idea as to whether you are achieving your long term business goals or not. Hence, it is advisable to evaluate your business quarterly.

Conclusion

Starting a business in a specific niche can seem intimidating and challenging. But once you break it down into simple steps, you can quickly start your own business. In this article, we have told you how to start a storage facility for fertiliser and seeds, but you can also apply these steps for any other storage business. Don't wait any longer; start with the first step today!

Also Read:

1) How to Open a Diagnostic Center? Steps, Investment & More
2) How to Start an Artificial Jewellery Business at Home?
3) How to Start Ayurvedic Products Wholesale and Distribution Business?
4) OkCredit: All you need to know about OkCredit & how it works.

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more!
Download OkCredit now & get rid of your bookkeeping hassles.
OkCredit is 100% Made in India.

FAQs

Q. What kinds of seeds are available today?

Ans. Seeds of various varieties are found today. All have their specialties. Some types are breeder seeds, genetically modified seeds, nucleus seeds, etc.

Q. How do I research for the business?

Ans. One can find a wide variety of research materials for every kind of information on the internet. However, if you lack expertise and specialised skills, you can hire a researcher to do it for you.

Q. How much investment would be needed to start this business?

Ans. One cannot start this business with zero investment. However, the limit would depend upon your business model. You can start with any amount. If you have limited capital, you can start with organic fertilisers and seeds at a relatively low cost.

Q. How to get the raw materials?

Ans. You can rely on various sources on the internet and find contacts of vendors in your vicinity. Please make a list of all vendors and their costs. Pick the one that suits your requirement. Always have a backup vendor in case of emergencies.