BUSINESS IDEA FOR AQUACULTURE

Introduction

Aquaculture is the growing of fish and any other water creatures. It is a foreign culture in our society. There has been a lot of encouragement to local communities to get involved but it has not yet formed grip. However, despite the initial capital outlay, this type of farming would generate some good financial earning to the farmers. There is no competition to the produce because the lakes which are the source of fish are almost depleted by big time dealers using unfriendly methods of fishing. The Business Idea estimates fixed capital of US$ 14,409 and operating costs of US$ 17,925 generating revenue of US$ 184,800 in the first year of operation.

Processes and Capacity

A modest farmer would need a minimum of three ponds of 4,000 square meters each. These are normally shallow to about 1.5 meters deep. When ready they are fertilized using agriculture lime and organic fertilizers like chicken, ducks, or turkey droppings. However, artificial fertilizers like NPK and Urea could be used. This takes two weeks and then stocking is done. Stocking is on a five pieces per square meter basis and at ratio of 3:2 i.e. 3 Tilapias and 2 Catfish. The stocked fries would be 5gms to 10 gms for Tilapia and 3-5cm for the Catfish. Feeding is by applying Aqua Starter for 6weeks and then after use Grower feeds. After six months the feeds are reduced because the fish would have gained the desired weight and so can reduce on the cost as the farmer is ready to sell.

Requirements

This business venture requires land with a permanent swamp preferably owned by the promoter. Construction of ponds is better done by hiring experts in that field. Once ponds are stocked, then you need wheelbarrows, spades, slashes and hoes for day to day operations and a seeing net for harvesting. 

Production and Operating Costs in US$

1) Production costs assumed 312 days per year with daily capacity of fish farming 60,000fish.

2) Depreciation (fixed asset write off) assumes 4-years life of assets written off at 25% per year for all assets.

3) Direct costs include: materials, supplies and other costs that directly go into production of the product.

4) Total monthly days assumed are 26-days.

5) The valuation currency used is United States Dollars.

 

Market Analysis

This business proposal does not yield any profits in the first harvest after six months. This is due to a huge excavation cost for quality Ponds that lasts for 60 years. The fish market is readily available because the lake fish is very expensive and scarce since most of it is processed for export. Secondly, the fish skeletons which were being sold to the public after processing for export are also currently exported. Furthermore, aquaculture would be sustained better if the farmers would indulge in poultry and Piggery because their dropping would be of great use in the ponds