This study was conducted in the Agogo Traditional Area of the Ashanti region of Ghana where there are numerous cases of conflicts between crop and animal farmers as a result of insufficient pasture for livestock, especially during the dry seasons. This has drawn the attention of various stakeholders in agriculture to the need for supplement feed through pasture establishment. The study used cross-sectional data from 150 farmers selected via a multi-stage sampling technique. Financial viability indicators such as Net Present Value (NPV), Benefit-Cost Ratio (BCR) and Internal Rate of Return (IRR), and perception index based on a five-point Likert scale were used. SWOT analysis was also conducted to assess the feasibility of the pasture business venture. The study found the pasture business as a viable concept with a BCR of 1.18, a positive NPV of GH₵3,160, an IRR of 40.1% and a payback period of 2.61 years. Farmers’ perception on the establishment of pasture for small ruminant production was positive. The SWOT analysis identified the prospects and potential challenges of the concept as follows: availability of land, support to government policy of establishing ‘fodder banks’ for sustainable land use, low technical know-how, and land tenure issues, among others. The study recommends the establishment of pasture as a venture since it is financially viable and has the potency to reduce farmer-herder conflicts to make all stakeholders better off. Farmers should also be empowered by concerned institutions through technical education on pasture establishment.