Thursday, November 14, 2013

Worm Farming Successfully

Is Worm Farming Profitable, Part 2

(Click here for Part 1)
Continuing my answer to the questions: "Can I make money worm farming? Is worm farming a profitable business?" with number 2 on your Successful Basics List check-off list:
  • Do you have enough cash flow to keep you going? 

(Artwork courtesy of Bill Monroe, Cartoonist)

Probably the #1 reason most businesses fail is lack of cash flow.  And the worm farming business is no exception.  It's going to take a little while before you have enough worms to sell, especially if you have limited funds in the beginning to stock your worm beds.

Compared to other home-based businesses, start up costs for the worm farming business is pretty low. However, you still need enough cash to
  • Buy starter worm stock
  • Build worm beds
  • Buy worm bedding material
  • Buy worm feed
  • Buy some basic equipment and tools
  • Maintain ongoing personal expenses and cost of living

Steps to Keep Worm Farming Business Startup Expenses Down

There are a number of steps you can take to keep your expenses down, helping to insure your worm farming business is a success:
  • Keep labor cost down by doing most of the work yourself and/or enlisting family members.
  • Build your worm beds out of salvaged materials or scavenge ready-made containers. (Make sure any worm bed materials are "worm friendly" as outlined in my Worm Farm Manual.)
  • Find "free food" to grow your worms. (This cost saving step should be used continuously in your worm farm business and, again, make sure any worm feed adheres to my guide's worm food guidelines.)

Worm Farming Warning

Don't be tempted to sell off your worm stock until you've built up enough inventory.  The beauty of the worm farming business is that it's "sustainable", meaning the worms replace themselves and the business is self-perpetuating.  But you want to be breeding and hatching more worms than you are selling.  And the longer you let your worms reproduce themselves (especially if you had limited cash to stock your worms beds in the beginning), the quicker you'll build your worm stock and the more successful you worm farming business will be.

So, keep your costs low, hang on to your "day job" until your worm stock has grown sufficiently, and don't deplete your worm population (this warning holds true throughout your worm farming career).

Successful Worm Farming Resources:

Get off to a good start with your worm farming business.  Find other how-to's and troubleshooting tips in my Worm Farm Manual: A Step-By-Step Guide To Raising Earthworms.

Other Worm Resources:

Red Worms:  Grow the premier composting earthworm
European Nightcrawlers:  One tough fishing worm. You could be the exclusive source in your area.
Combo Worms:  Order red worms and European nightcrawlers together and save on shipping.
Worm Farm Manual: Order today and get started growing earthworms.