What To Consider When Investing In Plantations.
Large scale farming of cash crops like coffee, tea, pineapples, sisal, cane, pyrethrum, cotton and many more is what is known as plantations. Investing in this genre is as good as investing anywhere else. A good investment is known by its growth, this one is even more actual as you get to see every step of the growth.
Find out all that you can on plantations.Explore profoundly on the advantages and disadvantages of this venture, checking the reviews of other investors.Read more about what cash crop you are interested in, seek advice from the suitable parties.
Make sure to choose a cash crop that you know much about and also one that will flourish where you are. Tropical plants like pineapples will only give you a good produce when you have planted them in tropical zones while those like tea will be at their best in highlands. Before anything, make sure to examine the area and look at the climate, know what will do well in that kind of soil and what will not.
Upon the checking of above, now identify the land of which you intend to invest in. The determining factor for the location of the land is inevitably the cash crop chosen.Weigh out the pros and cons of leasing the land or purchasing the said land.Discuss and agree with the land owner of whichever option you seem fits you.
Laborers is also a key item to consider. Find out from the other land owners what they do and how they work. If machines are to be used which is highly advisable, again is leasing an option or must be an outright purchase?Find out if there exists skilled hands to handle the equipment.Find out the wage.
The plantation requires Seedlings, fertilizers, pesticides and chemicals that is not far. Bulk purchase of the Seedlings, fertilizers, pesticides and chemicals is very important to be armed in case of emergencies. Any outbreak on the crops can make or break your plantation, remedies ought to be within reach.
Insurance is very important for this venture just like any other. Visit an insurer and find out what they offer for this kind of plantations. In this economy, what separates an insurance company from the rest, is variety including agricultural investment. Be wise and get your plantation covered.
It is critical to put in mind the importance of capital. After evaluating all the above, seek the capital needed. Be it that the amount was set aside already or if it requires other shareholders to start off the project, be ready financially. so as you don’t fall short along the way and cause havoc either on the crop or in causing undue stress on the investors.