Analisis Kelayakan Usaha Penitipan Sapi Potong Berbasis Bagi Hasil di PTPN IV Regional II

Abstract

Usaha penitipan sapi dengan skema penggemukan (fattening) merupakan alternatif investasi agribisnis yang memiliki prospek baik, tetapi menghadapi risiko perubahan harga jual sapi, biaya pakan, dan produktivitas ternak. Penelitian ini bertujuan menganalisis sensitivitas usaha. Penelitian menggunakan metode studi kasus dengan pendekatan deskriptif kuantitatif. Data diperoleh melalui wawancara, observasi, dokumentasi, dan studi pustaka, kemudian dianalisis menggunakan aspek nonfinansial, analisis arus kas, Net Present Value (NPV), Internal Rate of Return (IRR), Net Benefit Cost Ratio (Net B/C), Payback Period (PP), dan switching value. Hasil penelitian menunjukkan bahwa usaha layak dijalankan berdasarkan aspek nonfinansial dan finansial dengan nilai NPV sebesar Rp407.573.055,24, IRR 21,70%, Net B/C 1,44, dan PP 5,87 tahun. Analisis sensitivitas menunjukkan bahwa usaha paling peka terhadap penurunan harga jual sapi, sehingga pengendalian risiko harga menjadi faktor penting bagi keberlanjutan usaha.

Cattle boarding under a fattening scheme is an alternative agribusiness investment that offers profit-sharing opportunities while minimizing investors’ involvement in daily operations. This study aimed to evaluate the business feasibility of cattle boarding at Marjandi Farm, PTPN IV Regional II, across both financial and non-financial aspects, and to assess its sensitivity to changes in key variables. A quantitative descriptive case study was conducted using data collected through interviews, observations, documentation, and literature review. The analyses included non-financial assessment, cash flow, Net Present Value (NPV), Internal Rate of Return (IRR), Net Benefit-Cost Ratio (Net B/C), Payback Period (PP), and switching value analysis. The results indicate that the business is feasible, with an NPV of IDR 407,573,055.24, an IRR of 21.70%, a Net B/C of 1.44, and a Payback Period of 5.87 years. Sensitivity analysis identified cattle selling price as the most critical variable affecting business feasibility.