One strong point about this business is that I can start this business in a small scale using limited funds. In fact it has to be started small as we are dealing with living organisms which has high variables. The price money of RM10,000 will be sufficient as a kick start for me to start a small composting facility, home office , maintaining a website and transportation of supplies. It is possible for me to collaborate with School of Biological Sciences, Universiti Sains Malaysia (I’m a student of this University) under the Supervision of Dr. Hasnah Md. Jais. She is the expert in this field.
Estimated costs for Initial Set up for Composting Facility
(1st 6 months)
1. Worm Bin Trays RM 400
2. Collection bin RM 200
3. Equipments RM 100
4. 1kg of Tiger worm (Eisenia fetida) RM 300
5. Domain and hosting of website registration RM 30
6. Design Website (USM resources)
7. Composting Facility (USM resources)
8. Home office and stationaries RM 300
Total: RM1330
Estimated operation cost
(monthly for 1st 6 months)
1. Wages (me) RM1000
2. Supplies cost (none)
3. Transportation(fuel) RM100
4. Composting Facility (USM resources)
5. Website hosting RM25
6. Home office RM75
Total: RM1200 per month
Initial set up of a specially designed a 5-Tray worm bin with 1kg of Tiger worm (Eisenia fetida) will be around RM700 to run as trail. Eisenia fetida is the most prefered species of earthworms for composting purposes. The cost of these earthworms in the market is around RM300/kg. The earthworms population will be projected to double within 3 months. Only kitchen waste and bone waste will be used to feed the worms at this point.
To maintain a website it will cost about RM300 per year. Converting my home into home office would require RM300 for an addition of a fax printer and stationaries. More worm bin will be added as the worms populate.
With the success of worm-growing and cast-producing, I will start selling to the local farming industries by means like agricultural seminars, resellers, distributors, online orders, direct approach to organic farmers, promoting through clubs, forums, and websites.
With the expansion of the composting facilities within 2 years, the production size will allow me separate and classify the cast into different grades to cater different market. At this point of time, the worms can also be sold as they would have multiplied enough to cater to customer demands.