Worms can be a very lucrative business if the farming and marketing is done correctly. Worms are used for several sources including bait and breeding. Starting a worm farming business can be considered a simple venture; however it still requires research, knowledge and a lot of hard work to make the business successful.
How to Start a Worm Farming Business
- Before running out and buying up a bunch of worms, carefully consider how much time and finances you have to put into the business.
- Understand the market and how you can make a profit from worms.
- Research the different types of worms and how they breed and grow. It is also important to understand the conditions the worms will require to grow and be healthy.
- Do you have room on your property to start a worm farm? If not, you will need to consider subletting land, leasing some property or even buying some property to place your farm.
The Business Plan
- If you will need financing it is imperative to have an excellent business plan in order before seeking financial backing. Even if you will not need financial backing, the business plan is important to hammer out details of your business as well as to help you keep on track with your goals.
- Include all of your financial information for at least the last five years. Tax returns, bank statements and any loans, equity or other financial information should be organized neatly into the plan.
- A good marketing strategy is necessary for the success of your farm. Write a detailed advertising campaign and allocate a certain amount of your budget to marketing.
Starting the Business
- Visit local venders that might be interested in purchasing worms from your farm. Bait shops are a good example of businesses that would be interested. Make several contacts with them so that they get to know you before you approach them with your sales pitch. Understand what type of worms they like to sell, how much they usually sell, and any other important information you may find worthy to help you.
- Contact your local city hall to acquire any special licenses or permits that may be required in your area.
How to Make a Worm Farm
- Start off small. Don’t go out and buy a lot of worms when you are first starting out; wait until you fully understand how the business will work and how well you are doing in profits.
- Build or acquire a wooden box to house the worms. Be sure to drill several small air holes that are not big enough for the worms to escape.
- Aside from soil, also add shredded paper into the mixture. It is important to make sure the dirt and paper mixture is kept well moistened without becoming too saturated.
- Kitchen scraps are a good source of food for the worms. Once a month or so clean the box and add new soil and shredded paper mixture. Take the kitchen scraps and bury them in the mixture for the worms.
- Harvest the worms about every two months. Sift through the soil to capture the larger and more mature worms and then return the smaller worms to the box to continue growing.