Growing medicinal herbs as a new business or additional income in 2023

Growing medicinal herbs as a new business or additional income in 2023

Grass growing is a very specific, but in-demand type of business. This market differs from the agro-cultural market in that it is chaotic, unpredictable, and has a low level of competition. If you are limited in finances, starting a business from scratch is quite realistic. But to reach an income of $ 3000 a year will require a start-up investment. At the moment in the market of medicinal herbs demand exceeds supply, so it is not difficult to find options for selling products.
Consider what to grow and how to look for marketing channels.

The starting point of business planning: determining what and to whom to sell. The market for medicinal herbs does not have stable trends in the consumption of raw materials. For example, if tea with thyme becomes fashionable, sales of this spicy herb increase sharply. But the next year the fashion fades, sales fall sharply. It is difficult to predict the growth in sales of certain herbs, but there is a category of herbs that are in constant demand: chamomile, mint, licorice, calendula, lavender.
Choosing herbs for cultivation is guided by the requirements of agronomy. It is most advantageous to choose herbs of your climatic region or close in temperature requirements. Most medicinal herbs are wild crops, so the care requirements will be minimal.

How to organize a business on growing medicinal herbs.

Growing herbs will require a plot in an environmentally favorable location. This implies remoteness from major highways and industries. If the plot is not cultivated, it is required to plow and remove large weeds.
The next step is sowing the seeds. Many grasses do not require weeding and watering, but it is important to know the growing requirements of each species and follow them. Placing herbs on the plot? it is important to remember the rule of neighborhood: some herbs can not grow with each other. It is also recommended to choose herbs with close harvesting dates of raw materials.
In each type of herb, separate parts are collected: roots, leaves, flowers, fruits, bark. The collection is carried out strictly at a certain time. When harvesting, some of the plants are left for “breeding”. The seeds of the remaining plants will provide a crop for the next year.
Harvested raw materials are dried in special drying machines or under a shed. With small volumes and lack of starting capital, a shed or attic is excellent for drying. With large volumes, you can’t do without drying machines.

When drying it is important to control the degree of readiness of raw materials: if the humidity is more than 15% grass will wither and rot. After drying, herbage is packed and stored in well-ventilated room without direct sunlight.
Analysis of demand and competition, search for markets.
The entrepreneur determines the possible sales channels, and the following areas are conventionally identified:
– wholesale buyers of raw materials;
– direct producers,
– private persons.
Wholesale buyers of medicinal plants offer low prices for raw materials, but at the same time there is an opportunity to sell a large batch of goods quickly.
Direct producers are subdivided by industry of operation:
– pharmaceutical companies,
– cosmetic companies,
– perfume companies,
– tea producers.
Direct manufacturer offers high prices for raw materials (relative to other buyers). If there is an opportunity to work directly with production, this is the best option for business development. In this case, the requirements for raw materials here are higher, certification of the product is required, part of the grown herbs will be used for quality expertise.

Working with individuals is also a variant of selling goods. Sales are carried out through fixed points of sale (stalls, stores), through the site or social networks. In this case, it is recommended to expand the range of products: not only spicy and medicinal herbs, but also products made from them. As an example, here are oils and diffusions of herbs, absolutes, variants of perfumes, tea collections, fragrant sleeping pads and so on.
There is little or no competition in the herbal medicine market. This is evidenced by the fact that the need for medicinal herbs is covered by 60%. Opening a business in this area, the main reference point should not choose competitors, but unmet demand. This will allow you to quickly develop and recoup your business.

#BusinessideasBusinessthinking #business #businessideas #thinkingbusiness