One cannot just
venture into a business without studying the requirements or
cost it entails. Sometimes even a feasibility study is to be
carried out in order to determine the practicality of the
business. This article will discuss the financial implications
or cost of raising goats.
The first thing do is to classify the costs into categories. The
major categories are the costs for animals, feed supplements,
health, transportation, land, labor, transportation, selling,
administration and other miscellaneous costs. Animal costs could
be further subdivided into costs for acquiring the doe, buck and
the breeding fees. Feeding price involve costs for hay, grain
cost of raising goats is just cheap compared to
other livestock. Dairy goats can be purchased between 100 to 300
dollars while 150 to 350 for a Pygmy goat. For feeding, alfalfa
hay costs 9 to 12 dollars per bale. Grain is priced at 9 dollars
per bag of 50 pounds.
The cost for land and shelter include on yearly tax, cost for
leasing, fertilization, fencing and guard animals. Health costs
include vaccinations, medicine, and other medical supplies.
Tetanus vaccines cost 2 dollars per vial and this is good for
three kids already. Anti-worming medicines cost about 8 to 15
dollars per doses of 10 to 20.
The labor price of
keeping goats should also be considered
especially if work involved is tedious. Transportation costs
involve the costs incurred in travels for sales, shows, feed
stores and symposiums. Also include the meal costs associated
with these travels.
Administration fees comprise of the association fees, magazine
and newspaper subscriptions, and software. Selling costs are
incurred from advertisements, signs and business cards. Other
miscellaneous costs include feed buckets, racks and other
equipments and supplies.
A common supply like the collar currently costs about 6 dollars.
Hoof trimmers are priced at least 14 dollars while milking
buckets cost 20 to 30 dollars.
Once the above costs have estimates, the next step is to lay
them out in a spread sheet and a subtotal per category. A pie
chart could be drawn to have a helicopter view of the cost of
raising goats. Larger pies could be distinguished and
alternatives to make them smaller could be considered. An action
plan can then be devised for the reduction of fees.
After having run the business for a year, the estimated money of
rearing goats can be revisited and compared with the actual
costs incurred during the year.
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