Law graduate Egbewole wins NYSC entrepreneurial award for proposal on rabbit rearing

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Abdul-Jelil Egbewole, law graduate of University of Ilorin (LLB- 2019) and the Nigerian Law School ( Abuja campus , Bwari – BL- awaiting result -2021) who is currently having his mandatory one-year National Youth Service Corps (NYSC) was a cynosure of all eyes recently when he won the Entrepreneurial competition of the NYSC Nasarawa State camp with an award of N1 million (One million Naira).

His proposal, which won him the top prize, was in rabbit farming and his fellow corps members as well as NYSC officials were all over him, congratulating him for the feat.

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Egbewole, son of Prof  Wahab Egbewole of University of Ilorin Faculty of Law, was asked by The Shield Online how he, a soon to called to bar law graduate came into agriculture, especially rabbit rearing. His answer was both intriguing and interesting.

According to him, “My love for animals is natural and general, but I have special love and interest in cats and rabbits. My interest had driven me to keep and rear rabbits in my home.

“This, I have done for a while now, interestingly and effortlessly. Similarly, my desire to go into large scale rabbit farming spiralled after my interaction with a freind engaged in Rabbit farming and my dad’s friend (Prof. Abdulraheem) who runs a similar venture.

“Prof. lectured me on the benefits and market value of foreign rabbits with their relative high demand, especially in this present day Nigeria. The interaction added to my preexisting motivation to explore rabbit farming. Rabbit farming does not require stress as rabbits are very neat animals and they take good care of themselves. Therefore, it has a lesser demand in terms of personal involvement unlike other livestock farming.

“I am objected to over-specialization and I believe that there can be a smooth engagement in more than one endeavor by a person and with proper attention and the required dedication, all things will be in place.

“My passion for law is age-long and I intend to practice it in full. Likewise, Rabbit farming is an enterprise I am greatly passionate about and I also intend to run it on a full scale.

” Maintaining rabbit farming with the practice of law is not child’s play but it’s not particularly turgid and it is practicable as my personal experience reveals. This is owed to the nature and specie of rabbits, which do well even with less monitoring insofar as they have their food, water and medication (when necessary) readily available with them in their cages.

” In fact, rabbits are said to take care of themselves, although, some personnel will be employed to take care and ensure their well being, now that I am going to Rabbit Farming in a large scale. ”

See the Executive Summary of the proposal that won Egbewole the award below:

 

 

EXECUTIVE SUMMARY

 What?

 

Arnab farms is a farm that breeds rabbits for the purpose of selling rabbit meats and rabbits to restaurants, hotels, local and organic farmers. The farm rears rabbit and resell them when they attain maturity. The rabbits can also be sold as weaners before they reach maturity. Unlike ever before, rabbits are demanded in large quantity all across Nigeria, the emergence of the Business is growing at a sporadic ratio.

 

Basically, most of the rabbits from Arnab Farms are raised to produce hybrid parent stocks, which 80% customers buy to raise and reproduce on their own farm, and the cycle continues endlessly, there are various kinds of rabbit market, we have those that buy for pet, others buy for meat purpose, organic farmers also buy the rabbit urine and feaces for their plants, rabbit fur and pelt are another source of income, but the major market in Nigeria is from co farmers who wants to start the venture and reproduce rabbits to raise for their best known reasons, which includes the purposes mentioned above.

 

How?

 

Arnab farms will commence with a moderate portion of land as Rabbit breeding doesn’t require a lot of space to breed them. Securing a cage which is about 12 square meter will house the mother rabbit (doe) and its kits. Arnab farms presently has a cage that can house 16rabbits and since rabbits reproduce at a fast rate, they tend to multiply. With this pleasant initiative, the rate at which Arnab Farms will grow by extending its withhold and having more cages cannot be overemphasized.

 

The initial capital requirement are minimal because once you have a good structure in place, you can start with a few mature rabbits which will reproduce fast and increase your stock. The initial capital budget can be less than N450,000 depending on the number of matured rabbits the farmer starts with. Food for rabbits is relatively cheap since vegetables and hays can be gotten from local sellers at the market and a bag of pellets go for about N4,000 which will last the farmer for a whole circle.

 

The cost of acquiring a mature foreign rabbit that is ready for breeding is between N20,000 and N30,000. The price of mature rabbit is largely dependent on its weight and size. A rabbit cage which can house a doe and her kits costs about N5,000 per room depending on the materials used. The market for rabbits and its meat is mainly in hotels, restaurants, local farmers and organic farmers. Also there’s an organization (Bella Rabbits) that buys rabbit in large quantity from rabbit farmers in Nigeria at a high rate. The financial aspect of this venture is favorable since there is a higher return on investment since expansion/growth is fast and the payback period is short. Cash flows will start to be realized after the first set of kits mature which will be about six months. Expenses are minimal once the initial structure is properly established. Proper care should be practiced to reduce wasting money on treatment and spend more on feeding.

 

Why?

 

The inspiration to go into a full scale rabbit farming came to me after my encounter with rabbit farming during a short stay at a Friend’s place who engages in the farming full time and my attendance of two seminars and a workshop afterwards in Ilorin, Kwara State.

 

Both my interest and ambition for starting up rabbit farming continued to grow since then, I am thankful for this opportunity that may allow me to exhibit this greatness that I have been longing to explore. I have chosen to specialize mainly in foreign rabbits, especially Hyla max, Dutch, Chinchila and New Zealand breeds as for the following reasons: 1.Their reproduction rate is high. 2. They grow to a large extent compared to other local rabbits. 3. They can be purchased for a cheap price as weaners and sold for a higher price when they mature and this can be in a space of 4-5months.

 

Arnab farms will solve a number of problems, some of which are; ⁃ Drastically reduce the rate of ‘foreign rabbit’ importation in Nigeria, thereby allowing local production and consumption to grow. ⁃ Preventing unhealthy diets by providing suitable meat for people with heart disease and aged people as cholesterol and fat level in rabbit meat is much lower than chicken, turkey, beef and pork. ⁃ Reducing joblessness by providing employment opportunities as it is a highly profitable business, so commercial production can be a great source of earning and employment ⁃ Drastically reduce importation of wool as rabbit wool is 6 – 8 times warmer than the contemporary sheep wool. It can be mixed with silk, polyester, rayon, nylon, sheep wool, and other fibers to make good quality handlooms as well as hand knitted apparels. ⁃ Rabbit business gives tremendous income source and is not a seasonal business as productivity from rabbits is same throughout the year.

  COMPANY

Arnab farms is a rabbit farm that rears rabbits for the purpose of selling and consumption.

 

 MISSION STATEMENT

To become a leading supplier of healthy rabbits, rabbits fur, manure and rabbit meat at an affordable price.

 

VISION STATEMENT

We strive to establish a network of rabbit across the nation. Value proposition Rabbit farming will set the pace for people like the unemployed to acquire skills, knowledge and resources needed to launch and sustain income generating activities in their own communities. It will also generate employment opportunities for most especially youths, small and marginal farmers. We intend to produce quality products ( processed and well packaged rabbit meat) for our various customers. The farming will also influence the healthy living of consumers as more nutrients will be added to their diets. Also the production of manure for farmers especially organic farmers will also be part of the values Arnab farms will add. Core values 1. Productivity 2. Diligence 3. Integrity 4. Dedication 5. Discipline Goals To over haul and standardize rabbit farming in Nigeria to a very sustainable standard. It is our goal to be a well-known rabbit producing farmers locally and internationally Market potential Monetization Arnab farms intends to make money mainly from the sale of rabbits as a matured foreign rabbit costs between N20,000 and N30,000. They will be purchased as weaners which is N6,000 and fed for about 4months and then resold at the rate of N20,000-N30,000.

PRODUCT AND SERVICE

Production and selling of rabbits to hotels, restaurants, local farmers and rabbit urine and feaces to organic farmers.

TARGET MARKET

Arnab farms targets the following class of persons; 1. Hotels 2. Restaurants 3. Poultry Farmers 4. Organic farmers 5. Prospective poultry farmers MARKET STRATEGIES Our rabbit meats will be well packaged, cost effective and branded in a portable package with our stickers and labels on each product’s pack. Our product will be branded to suit both the purpose and location of use. Our rabbits will be delivered in a rabbit baskets branded with our stickers and labels to customers. Prices of the rabbit meat and rabbits will be based on their KG. The higher the KG, the higher the price

COMPETITORS

Our major competitors will be a few other involved in the sales of what is commonly known as bush meat and the fish farmers scattered around the community. However with our unique well branded delivery system, we have a competitive edge (Preparing meat with the best recipes, neatly packed, quality customer service, healthy animal and most importantly, convenience of our customers as we get the products delivered to them at the comfort of their homes, hostels, offices, etc.) That there’s competition for this type of business makes it an interesting potential business.

 

MANAGEMENT TEAM

The following are the members of the management team: 1. Farm supervisor 2. Marketer 3. Social media Director 4. Public relations Officer 5. Staff

OPERATIONS

Rearing of the rabbits will be done physically while the marketing will be both physical and virtual. In clearer terms, on one hand, the rabbits-rearing will take place physically with the staffers of Arnab Farms actively dedicated to the course of ensuring the rabbits are treated in the best conditions and well taken care of. On the other hand, marketing the farming and publicizing it will be done both physically and virtually. Physical information of persons and distribution of handbills will be done as well as the use of social media accounts such as Instagram, Twitter, WhatsApp and Facebook in order to ensure that the news of Arnab Farms reach all and sundry.

FINANCIAL FORECAST START-UP COST

Rabbit Cage (30rooms) = N210,000

Matured Foreign Rabbits (20 Does and 10 Bucks)= N750,000

Feeds for 2months (pellets 25kg)= N12,000

Feeders and Drinkers (60 – N500 each)= 30,000

TOTAL= N1,002,000

 

FORECAST FOR 3 YEARS

Estimated profit for First year:

First 6months: N720,000

Second 6months: N720,000

Total for the first year: N1,440,000

Estimated profit for the second year:

Third 6months: N720,000

Fourth 6months: N720,000

Fifth 6months: N720,000

Total for the second year: N2,160,000

Estimated profit for the third year:

Sixth 6months: N720,000

Seventh 6months: N720,000

Eighth 6months: N720,000

Ninth 6months: N720,000

Total for the third year: N2,880,000

 

 

 

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