Worm farms may not necessarily be what comes to mind when you think of opening a profitable business, but many factors make a for-profit worm farm quite attractive. Most materials for a worm farm can be had cheaply or for free, and the cost of running the business is minimal. With such low overhead, turning a profit by selling worms is quite easy. There are a few essential steps to starting this business that any entrepreneur must take.
Things You'll Need
- Business license
- Worm frames
- Relationships with other businesses
Obtain a business license by visiting the local auditor's office or courthouse and completing an application for a vendor's resale license. Pay the small fee (around $20-$25) and get a copy of the license to post in your store space.
Set up your worm frames. The frames are essentially long, thin boxes without lids. You will want to fill the boxes with a 50/50 mixture of soil and coffee grounds. The coffee grounds will help increase the nutrients available to the worms.
Fill the boxes with worms, but not more than six worms to 1 square foot of space. The worms will reproduce fast and fill the boxes quickly.
Begin advertising either by word of mouth or set up signs near fishing shops and stores. Price your worms effectively ($5 for a dozen or so) and you will turn a profit quickly.