Fishery Business Plan | Proposal On Fish Farming
If you are going into fish farming and want to attract investors, you need to prepare a business plan.
The business plan does not just serve to attract potential investors; it can also act as a blueprint or map for the business, guiding you on the next step as the industry progresses.
Therefore, you will need to include certain things in your business to be considered worthy by potential investors. We are going to show you some of these things in the remaining part of this write-up.
Fishery Business Plan | Pond building preparation
You need first to determine the type of fish farm you want to establish before proceeding, and this can also determine how to construct the fish pond.
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Aside from the kind of fish, you should also choose the size of the fish you want to grow when deciding the size of the pond to build.
A fish pond may sufficiently accommodate the number of fishes while they are still fingerlings.
However, the fish pond may become too congested as the fishes grow in size.
Furthermore, the fish pond must collect runoff or rainwater as this will keep it fresh at all times.
Make sure you construct barriers around the fish pond.
Introducing fishes into the fish pond
After the water in the pond has settled, you can now introduce the fingerlings into it.
The fishes must first be mixed slowly in a bucket of water for about 15 minutes before submitting them to the fish pond.
The fish should not be added once; do it gradually.
Fishery Business Plan: Other important inclusions
You should show evidence that you are trained in fish farming in the business plan, which will boost investors’ confidence in your business.
You may not have to spend money on the training as some government agencies provide such pieces of training for free.
Additionally, you can work for an established fish farmer to gain experience.
It will give you first-hand experience of fish farming.
During the training, you will learn about things like:
- Farm Management
- Water quality management
- Disease control
Make sure you show evidence that you have such skills in your business plan to impress potential investors.
- Marketing strategy
Aside from the preparation and processing in fish farming, it would be best to mention how you plan to market the fish following maturity.
You can sell the fish to individual buyers or retailers, depending on what is convenient for you. You can also become a major supplier of meat stores, supermarkets, and departmental stores in your locality. You can sell the fish fresh or dried. Selling them dried will, however, require further processing.
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Restaurants and hotels are great places to sell your fish. As you become famous and consistent, orders will be waiting even before harvest.
- Profit forecast
You should balance the amount to be invested with the expected income in the business plan.
For example, when considering profit, you can forecast a 10% net profit margin monthly in the first year and 15% monthly in the second year.
Then, in the third year, you can upscale your forecast to a 25% monthly profit.