Fish Farming Business: One of the most widespread agribusinesses in Nigeria is fish farming. Fishing in local rivers as a profession has quickly given way to fish farming. People rear their own fish now instead of waiting for fishes to appear in their fishing net overnight.
Fish farming is a very lucrative business. There’s high demand for fish varieties, such as Tilapia, Catfish, and Mackerel (salmon) in Nigeria that continually stimulates sustainable growth and expansion of the industry. You can engage in small scale or large scale commercial production. Places like Lagos, Abuja, Porthacurt and more have a very high demand for fish.
Even people that are fully employed still engage in fish farming to enlarge their income stream. If you will like to go into Fish Farming, you have to start with a well mapped out plan.
Fish Farming Business in Nigeria | Writing a Business Plan
The Business Plan for Fish Farming takes a different route from the conventional business plans. There are important parameters you need to consider such as:
- Land space
Do you have enough space in your compound? If not, how much is it going to cost you to rent or buy it? This will take a large chunk of your income. It is a fixed variable, your business depends on it.
- Ponds
How much will it cost to build a pond? You need to hire an experienced pond construction engineer or you can also go to another fish farm to get specifications and design requirements. The plumbing work must be done a professional and that costs money.
- Wells
Water supply for fish farming is a very important parameter. Good and constant water supply is necessary for the survival of every fish farming business. You have to position your business close to a water source for making plans for a constant supply. Naturally available water sources, such as borehole and river water, are the most suitable. Rainwater and tap water from a chemically treated source is not recommended for growing fish. Provide regular water exchange to create a friendly environment. You can install an aboveground tank, which will provide the convenience of supplying water to your ponds when necessary. Also, remember the water filtration system.
- Fish
What type of fish are you planning to breed? The most popular species are Salmon and Catfish. Fingerlings can be gotten from big fish farmers. Make enquiries and ascertain the cost. Remember, quality is key, you need to go for the best.
- Knowledge
You need to become attached to a fish farm for proper apprenticeship. The business needs experience and proper coaching; even writing the business plan too. For you to study this profession properly, you need at least two months of training. Visit other farms and also gather knowledge from the Internet.
If you build your business on a solid plan, it will certainly succeed. You can start small and expand gradually. You just need to set clear goals for future expansion.