We have created a detailed fish farming business plan in Nigeria to start with your venture to get a financial loan from CBN, NIRSAL, BOI, other investors and future predictions.
This business plan demonstrates how to start a fish farming business. The strategy went into great detail about catfish, hake and croaker fish farming in Nigeria. The different types of ponds used in fish farming were explained in detail.
In addition, the cost and income analysis of starting a fish farming business was discussed. Fish farming was explained in terms of total cost, revenue, and profit. According to the business strategy, a good fish farmer can earn a Return on Investment (ROI) of 60-100 percent in a reasonably short period of time.
This business plan includes all of the details you’ll need to get started with your fish farming business.
What is the concept of fish farming?
Fish farming is the practice of raising fish. Many people who engage in fish farming do it for monetary gain. Catfish farming is practiced by over 80% of fish farmers in Nigeria. Catfish is one of the most prevalent variety of fish utilized in aquaculture.
Fish farming is a business that anyone can invest in. It can be very profitable if you know what you’re doing, or it can be a loss-making endeavor if you don’t.
READ- How to start a profitable fish farm in Nigeria
WHAT MAKES UP A GOOD CATFISH FARMING BUSINESS PLAN IN NIGERIA?
Our vision statement
Our mission statement
Our business structure
Our target market
Our competitive advantage
Sales and marketing strategy
Financial analysis of the catfish farming business
Sources of startup capital
If you’ve been looking for where you’ll get a business plan for your catfish farming business, all you need is provided below:
Before starting a fish farming business, there are a few steps you need to take
- Find an appropriate piece of land or space
To start farming fish, you’ll need to own, lease, or rent farmland, land, or space. The beauty of the fish farming industry is that it can be run in a small space using intense farming techniques.
Because fish farming requires a lot of water, your area or space must have enough water all year. It is preferable if your land is close to a commercial area, as this will allow you to sell your fish at a higher price and lower the cost of transporting your catch to market.
- Set up your water supply.
Fish farming relies heavily on water. You should make sure that there is enough water before purchasing the land or area. Aquaculture necessitates a large amount of water supply. Boreholes, wells, and natural water sources such as rivers and streams can all be used. Throughout the rainy season, considerable amounts of water can be harvested and stored for use during the dry season.
- Analyze the soil and water
This is something that many fish growers do not do. You must send soil and water samples to a reputable laboratory for analysis. The PH of the water and soil, the nutrients profile of the water and soil, and the microbiological composition and count of the soil and water will all be revealed by the soil and water test. You must rectify any anomalies discovered throughout the test. An acidic soil, for example, will require lime amendment.
- Construct the fish pond
Ponds come in a variety of shapes and sizes. Each form of fish pond has its own set of benefits and drawbacks. It is usually preferable to hire a professional to construct your fish pond for you.
There should be multiple ponds on your property. You’ll have to sort your fish at different stages and place them in different ponds based on their sizes. You’ll also have a separate pond where you can put sick or damaged fish. The quarantine pond is what it’s called.
- Keep the farm safe.
Thieves are drawn to fish farms because they realize the items are easy to sell. You can encircle the farm with fencing or hire a security guard. You can also utilize an IP camera with night vision that accepts a SIM card. Even without all of the aforementioned safeguards, certain regions are extremely safe.
- Recruit capable personnel.
If your fish farm is large, you’ll need to hire competent employees. Do not hire somebody purely on their qualifications on a piece of paper. Employ people who have worked in the fish farming industry. You could also inquire about their previous employers’ references.
- Electricity supply
Power should be available at all times for your fish farm. If the grid’s power supply is inconsistent, you can use a tiny power generator.
- Fish seeds should be added to the pond
At this point, the majority of fish farms get it wrong. I can certify that most fingerlings and other fish seeds have been inbred. They are unfit for a successful fish farming operation. This is something that many farmers are unaware of. If you buy these types of fingerlings or fish seeds and continue to feed them, they will not develop large, and you will end up losing a lot of money.
Even after hatching their fingerlings, most fish hatcheries keep the good ones for themselves and sell the bad ones to unwary fish farmers.
If you can get decent fingerlings, you’ll be halfway to a profitable fish farm. Avoid runts and don’t go seeking for fingerlings at rock-bottom costs; this is a common tactic to get you to buy inferior fingerlings.
- The fish farm’s management
Your fish farm’s daily management plan should be rigorously followed. To clean the water, disinfectants should be employed on a regular basis. Antibiotics can also be used to combat infections that could impact the fish farm.
Before adding manure to the pond, it should be cured and disinfected.
You should not harvest your fish until you have received a definite promise from potential purchasers. Some purchasers deceive farmers into harvesting, then return to the field and offer absurdly low prices. You may also sell your products by visiting restaurants and motels in the area.
Fish Farming (Catfish) Business Plan – Cost and Revenue Analysis – 10,000 Fishes
The goal of this fish farming business plan is to raise 10,000 catfish to maturity. A farmer can save money by stocking fish seeds or fingerlings in a variety of methods.
This business plan involves purchasing 20,000 fingerlings at a cost of N8 each, resulting in a total expenditure of N160,000. Please note that the fingerlings will be sorted on a regular basis until only the best and healthiest 10,000 fish are kept till they reach maturity. Other fish producers can buy the rest of the fingerlings. It should also be noted that the fish farmer may decide to operate his own hatchery, which is not covered in this aquaculture business plan.
The fish are intended to be raised for 6 months before being sold.
|1st Month||2nd Month||3rd Month|
|Cost of fish seeds||160,000|
|Cost of feed||120,000||115,000||200,000|
|Cost of operations||15,000||15,000||7,000|
|Cost of maggot and fat||60,000|
|Total cost from 1st -3rd month||784,000|
Revenue Analysis for a Catfish Farming Business Plan
If the fish farm is well-run, the fish are divided into different ponds based on their size. After 6 months or 7 months, around 2000 extremely huge fishes, N1,500 big fishes, 3,000 medium size fishes, and 800 little fishes are projected to be harvested.
The very huge fishes, which can weigh between 1.4kg and 2.5kg, are projected to sell for between N1,200 and N1,500. The exceptionally huge fish will be sold for N1,200 each, netting over N2,000,000.
Farming Catfish Melange
A catfish farmer may opt to cultivate his catfish for three months and then offer it as a mélange. This has the potential to be successful, and the short-term advantage is a plus.
If the catfish farmer sells his fish as mélange, he can still get a 50 percent to 60 percent return on investment (ROI) in four months.
It is significantly easier for some farmers to rear their fish and sell them as mélanges since they do not have to invest money on expensive feeds and fats to fatten their fish.
How To Download The Complete Catfish Farming Business Plan In Nigeria PDF and Doc
Above is a part of the catfish business plan in Nigeria. If you want the complete catfish farming business plan with 3 years of financial analysis, follow the procedures to download it.
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
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