Have you always dreamed of owning your very own fish farming business? Do you feel that the place that you have would be a great fish farm?
If you want to start your own fish farming business then here is a guide to help you make your dreams come true.
Fish farming is an age old activity and in practice from ancient times. We are planning to start composite fish farming. This comprises the culture of 3 indigenous species of fish viz. Rohu, Catla and Mrigal and 3 exotic fish i.e Silver Carp, Grass Carp, and Common Carp keeping in view their different food habitats.
We will adopt pond fish culture and ponds will be taken on lease from Panchayats. We also take the technical assistance from fisheries department from time to time.
We will also establish fish seed hatchery to raise baby fish and prepare them for release in another environment for food.
Fish and fish products are consumed as food all over the world. It provides the world’s prime source of high quality protein.
Starting a fish farming business requires a lot of knowledge, skill and planning as the investor would have to look into a lot of variables to make the business possible. Though starting a fish farming business would require intensive study of both the actual technique in fish production as well as the expenses one has to invest for equipment, the fish farming business can prove to be a very profitable venture.
Studying to start a fish farming business
The very first thing that any prospective fish farming business owner has to do is to soak up on as much knowledge in fish culture as possible. It is highly advisable that he take some college courses or some programs that are related to fish farming. If the fish farming business owner has no experience it is good that he first try and work for an established fish farming expert to know the ins and outs in fish farming. If he has the knowledge he then has to conduct the research.
Do the research in the fish farming business
The would-be owner needs to study the conditions that surround his proposed location of the fish farm. He must take into account the source of water in the area and how much is flowing from it, what rate and the temperature of the water. He should also look into other naturally available resources around the area such as geothermal water from springs. Some fishes breed faster better in warm water than others. Also look into the conduciveness of the buildings and structures around the farm. After looking into the conditions of the environment the entrepreneur also has to look into the possible market of the fish. It is not profitable to harvest tons of fishes with no buyer. Could there be a contractor for the fishes? How about fast food chains? How far is the market for the fish and what vehicle will be used to transport the fish? After finding out the possible market conditions the owner must look into organizing the business. The owner must register it as either sole-proprietorship, partnership, corporation or LLC. He must also attend to the commercial license, operating permit and other requirements that may be required by the state.
If after this survey the fish farming business still seems possible then it is time to chart the financial aspect by determining the expected and unexpected expenses of the business. How much would everything cost and what would be the sources of the funds. Through this financial analysis the entrepreneur will know in the long run how much he needs to profit for how long to pay back the overhead cost and if it is profitable to start the fish farming business.
