How to Start a Profitable Fish Farming Business 2020

Catfish farming
Catfish production

Do you need the steps involve in starting a fish farming business? Have you been surfing the net for credible ways to build a fish pond? Do you own a fish farm already but don’t know how to run it again?

Then, continue reading as this article will expose you top notch ways to run a successful fish farming.

Informatively, agriculture has taken over the world and people are making million in the industry. Thus, venturing into fish farming is sure way to join the league of successful farmers.

Also, starting a fish farming requires an intensive startup capital and knowledge on how to run the pond.

In case you are having a heavy financial budget, you may consider starting your own fish farm now.

Varieties Of Fishes

Since there are different cultivars of fish, then it is very necessary you define the type or varieties of fish you’ll be rearing.

  • Cat Fish

This is the most common variety of fish farming in West Africa. Catfish is lucrative and profitable as well.

  • Tilapia

Tilapia is another type of fish that can be reared. This type of fish farming is very common around the Western European countries.

  • Titus

Just like Tilapia fish, this variety of fish is not common in Africa countries pond. But yet, Titus is in hot demand in most markets.

Read Also: How to Start a Successful Poultry Farming

What makes Fish Farming a Lucrative Business venture?

There are many reasons as to why fish farming is a lucrative, reliable and profitable business establishment. Among these reasons are;

  • Fish farming is not difficult to learn and most of the fishery products are not costly in the market;
  • Fishery products are hot cake in the competitive market;
  • People demand for fishes in the market is very high;
  • With the right feed and supplements, fingerlings rapidly and naturally grow into fishes in due course;
  • Fish farming business naturally comes with lots of profit.

In the same vein, it is not a must you start a fish farming business in a large scale once and for all.

In case you’ll like to start the business but your investment capital is low, you can go on with your plans so far you have a land around a riverbank.

Your investment capital should be able to deal with schoolings and feed mill.

The Requirements For Starting A Successful Catfish Farming

The following are things you need to put in place before going into the fish farming business proper.

  • Fund

Whether you’ll be starting out the business in small or large scale, there is no way you’ll wouldn’t need money to do things.

So before you start out what you cannot finish, check your financial situation if you’ll be able to run the pond successfully.

  • Know-how

Also, you can’t establish a fish farm without having the knowledge of running it. It will be a great danger at the fingerlings end.

So if you don’t know much about fish farming, you can browse the internet or watch tutorials on YouTube.

  • Manpower

If you will be starting the fish farming in large scale, you definitely can’t run the business alone, there is need for you to get able men who’ll be assisting you on the farm.

  • Land

Fish are not rear on the air or in a vacuum but rather inside a pond. Hence, you’ll need a land to dig a pond for your fishes.

  • Water

Read Also: 12 Business ideas in Agriculture 2020

You can get water for your catfish farming in two ways. Either by siting the pond near a river or you dig up a borehole for generating water.

Then, either of the two ways is the way. It depends greatly on how financially buoyant you are.

Fish Farming Business Template

It is high time we delve into the main topic of discussion without hesitation. Fish farming business is not that difficult to run.

With the right manpower and the zeal to take the catfish pond to a higher level, the sky could easily be your beginning.

Now, let’s get to work…

1. Write a fish farming business plan.

The Important of a business plan in any startup can never be jest with. It’s the foundation upon which the business will be built on.

So the first thing expected of you when starting a fish farming business is to map out a workable plan that will take your pond to the next level.

In your business plan, make sure have a definite niche of fishes to be reared. Let it be defined there if you’ll be venturing into the catfish business or tilapia fishpond or the likes.

Essence, the plan should contain where you’ll source your fund, your target audience, where to find them, what they need the most, etc.

Similarly, endeavor to map out plan B in case an obstacle spring up along the line. Having a probable strategy in your business is also vital.

However, there’s much to things that must be written in fish farming business plan, so if you don’t know how to write an effective plan, you can engage the service of an expert.

2. Market Survey

In your journey to start a successful fish farming business, it is paramount you conduct a market survey to know much about the fish farming business.

Also, visit the market to know the latest trends and happenings in the fish farming sector.

This will let you know the next direction in your fishprenuer journey. In addition, carry out a feasibility study and identify where, how and what your ideal audience need and want.

Doing all this is necessary towards the success of your fish farming establishment.

3. Capital

One of the key factors of production is capital. Investment capital is the major thing need to start a profitable fish farming business.

Although setting up a fish pond doesn’t require you to have thousands of million, so far you have a particular place to source for the fund, you’re good to go.

Hence, now is the time to work towards getting fund from the place you must have identified while writing your business plan.

In lieu of the above, you can source for investment capital from family and friends that are financially okay, or you forward your fish farm proposal to business investors.

Read Also: How to write an effective Business Proposal

4. Get a perfect location.

Another important thing to consider while starting a fish production business is to get a perfect location to set up the pond.

After the issue of investment capital must have been settled, then look for a perfect place and secure a land there. A bigger and spacious place will do if you have enough start up fund.

Also, endeavor to firstly look a place that’s close to a river.

Setting up your catfish pond at a riverbank will save you the cost of digging a borehole.

5. Build you Pond.

Now that you’ve gotten a nice location to set up your fish farm, then it is high time you construct your fish pond.

Ideally, ensure that the catfish pond is strongly built to hold enough water inside. And endeavor that the pond drainage systems are efficiently designed.

Note that, the passage of unclean water out of the pond is vital. Hence, make sure that you engage the service of an expert in constructing the pond.

6. Water reservation

This step is very important if your fish pond is constructed in an area where there is no water or flowing river.

The only secret behind breeding a healthy and agile fish is water. Thus, having enough water around you is important.

Since the fish pond water is expected to be changed after two days at worst, you’ll have to dig a borehole and construct a water reservoir or erect an overhead tank for storing water.

7. Get the necessary Equipment.

Apart from constructing a pond and water reservoir, there are some other equipment you’ll need to get ready for the fish farming business.

The major ones among these equipment are as follows:

  • Pipes;
  • Baskets and Buckets;
  • Scale;
  • Water Testing Equipment;
  • Seines;
  • Net;
  • Pond Aerator.

8. Get your fingerlings

Now that your fish pond is set and ready, now is the perfect time for you to get your fingerlings.

Essentially, the fingerlings are only necessary if you’ll be starting the fish production business from the scratch.

Meet with the veteran fish farmers and ask for directions on how to get fingerlings.

However, if you have enough fingerlings that can live conveniently in the constructed pond, add water to the pond together with the fingerlings.

Read Also: Best Business Ideas and Opportunities for the Future

9. Fish farming proper

The moment your poured fingerlings into the constructed fish pond, you’ve become a fish farmer and the business should be operated as planned.

Meanwhile, always feed them their mill and supplements in time to avoid cannibalism.

10. Meet with the expert always.

Now that you’re a catfish farmer, time will come that you wouldn’t understand the fishes behavior. As it stands in every business establishment.

Then, meet with veteran farmers and ask them the dos and don’t (if any) of the fish farming.

This is the only way you can equip yourself with the basic and necessary knowledge on how to effectively run a fish business.

Conclusion

With the above steps and procedures, there is nothing more in starting a successful business.

Moreover, be informed that fish farming business may be hard and difficult sometimes, you need to keep your head high to push through.

Lastly, the business is ultra profitable, no doubt about that. Make sure you have an efficient plan at hand before doing anything.

I wish you success in your sojourn to build a successful fish pond farming!

About Soliu Jamiu Ishola 71 Articles
Soliu Jamiu Ishola is a Law student at Usmanu Danfodio University, Sokoto. He's a seasoned content writer with years of experience. His love for online entrepreneurship gave birth to Bizideas4beginners.

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