Fish farming is an ancient practice that can provide many profitable opportunities today. The raising and selling of fish on a commercial basis has proven to be economically successful.
Start a fish farm by following these 9 steps:
You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your fish farm. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
- How much can you charge customers?
- What will you name your business?
What are the costs involved in opening a fish farm?
Costs will range, depending on the size and scope of the operation you are starting.
If you are starting an aquarium-based farm, you will need:
- Tanks and pumps
- Fish food and refrigerators
- Water aerators
- Water testing kits and equipment
- An investment in the initial parent fish or eggs/frye
If you are running at a commercial fish farm you will need:
- Land for ponds
- Equipment for excavating ponds
- Commercial-sized pumps, aerators, and water sources/reclamation devices
- Boat, motor, and equipment for cleaning and managing the pond.
- Industrial fish food supply
- Fish processing equipment for shipping and exporting
What are the ongoing expenses for a fish farm?
Fish farming will have some variation in expenses, depending on what kind of fish and how many you are raising. Average associated costs will stem from:
- Buying eggs and/or fingerlings for your re-stock purposes.
- Food and maintenance of the fish.
- Replacing pumps and oxygen/aeration systems.
- Digging new ponds or buying additional tanks.
- Electricity per month.
- Plumbing maintenance.
- Insurance for employees and the business.
- Transporting/shipping of fish in and out of your farm.
Who is the target market?
Customer types will vary, depending on the types of fish you are raising. If you are raising fish for sport, re-stocking, or commercial food products, your base will consist of larger businesses, which need a higher volume of fish. Some customers may even consist of state or federal organizations who re-stock depleted natural resources.
If you raise fish for aquariums or as pets, your customer group will be pet shops and specialty fish dealers. You may even choose to have customers contact you directly, in order to expedite sales and cut the cost of the middle man.
Presented by Romano Pisciotti