1) Is there still room in the industry for newbies like me to startup a business?
Yes there is but it could be quite difficult. You also have to go through some health laws and such
2) What are the startup costs for roughly 50,000 hens?(I am expecting at least a $1,000,000 so don't worry about scaring me)
50,000 hens X (about $2 apiece for babies from mcmurray) is 100,000
then there is the feed, water, shelter, egg cartons, advertising, etc.
25 pound chicken feed at $8, feeds about 12 chickens for a month thats another 300,000
If you let them be free range that will cut downon cost by a third making it 200,000. You could also use old eggs, some left overs/ or forgotten food, and/or try growing some of the feed yourself that should reduce the cost by another 50,000.
Thats a total of 250,000 - 400,000, for one year.
3) Does anyone here own a commercial egg production farm?
No sorry i dont but i have thought about it before.
my advice is :
get about a 150 hens and 3 roosters (all a min. of 7 months old) Have two seperate areas for them. split them 50 hens and 3 roos together and the other 100 hens by themselves.
sell the eggs locally (at first) from the ones with no roos.
invest in an incubator w/turners. (only incubate half the eggs you get) I would either buy a large one or make my own (those on here who have like them better than the ones they buy + they are cheaper)
Then hatch chicks like crazy. get an adverage percentage rate. keep 80% of the chicks and sell the other 20%.
Work your chickens up to the amount you want. By then your reputation should be good and sells should be good also. you have yourself a steady business.
if you work it right it should ony take about a year and a half to get where you envision yourself.
This should cost less too.
Not an expert but hopes this helps.
One more thing: Invest wisely in what you buy. When buying look for things that will last a while and could have an alternative function one day. Things that are sturdy but cheap.