Important Things To Know Before Starting A Fish Farming Business

Fish farming business
Fish farming business

The fish farming business is simply the breeding and raising of fish for market purposes (commercial farming).

Agribusiness is quite lucrative, for those that engage in fish farming, they can attest to the fact that fish farming is highly rewarding.

Fish is widely consumed in the world, it is a staple food in various homes, as well as cultures. The demand makes fish farming highly lucrative.

Moreover, it is quite nutritious, it is a good source of protein.

Fish farming business
Fish farming

What to do before you start fish farming

Every endeavour requires a number of things to be put in place to facilitate a successful execution.

To start fish farming, you need to put certain things in place first. These things include the following:

Set up a plan

A business is doomed to fail if there is no plan. To successfully run fish farming on a commercial level, you need to set up a plan that covers costs, tools, marketing, challenges, growth, and so on.

Rushing into starting a fish farming business without a business plan is foolhardy, you will only end up wasting your time, money, and effort.

Carry out your research

This is important, it involves equipping yourself with every information you need to have about the business of fish farming. Venturing into the business without prior know-how is setting yourself up to fail.

You can attend seminars and workshops, watch tutorial videos and get some physical training if you can. You can also attend practical training. All of these will equip you with all the information you will need to smoothly run your fish farming business.

Determine your farm size

After making a plan and equipping yourself with all the information and training on the fish farming business, the next action is to begin determining your farm size.

The size of your farm depends on your budget, a small farm size means a small budget and a big farm size means a big budget.

However, it is usually advised that beginners should start with a small farm size then expand gradually depending on how good the farming goes.

Although, this isn’t a rule, you can start big if you have the money and resources with which to ensure smooth operation and sound management.

Fish farming business
Tilapia fish

How to market your fish

The reason for engaging in the fish farming business is to eventually sell them to customers when they’re matured and ready for harvest.

You can sell your fish to individuals, restaurants, bars, and hotels.

For beginners, it is advisable you prospect for buyers one month before the fish are ready for harvest.

This is to avoid a situation whereby there will be no buyers by the time your fish are mature and ready for harvest.

Frequently asked questions on fish farming

What is the cost of starting a fish farm?

The cost with which to start a fish farming business depends on your budget. A small budget means a small scale fish farming business and a big budget means a large scale fish farming business.

Nonetheless, you can begin the fish farming business with a minimum of N50,000 (small scale).

Is the fish farming business lucrative?

The demand for fish is high, in fact, the demand keeps rising. This tells that the fish farming business is financially rewarding.

Therefore, there is money in fish farming and all you need to do is start farming well.

What are the risks in fish farming business?

There are risks in the fish farming business, these risks if not properly managed or if measures are not put in place to avoid them, can drive you out of business.

Common risks are disease outbreaks, cannibalism, predation, and flooding. These risks can greatly deplete the number of fish in your pond or completely kill all the fish on your farm.

Therefore, you must be aware of these risks and have put measures in place to prevent them.

Fish farming business
Catfish

How will I know a good fish?

Good fish are gotten from good hatcheries while bad fish are gotten from unreliable hatcheries. So, when looking for good fish, make enquiries about the hatchery to make sure you don’t end up getting runt fish.

What causes fish to grow fast?

How fast and well your fish grow depends on how well you manage them. A number of factors contribute to the growth and good health of fish.

These factors are; the species of fish, feed, water, space, and management practices.

When there are lapses in the use of these aforementioned factors, your fish won’t grow well, thereby, becoming less marketable.

How often should the fish get fed?

For fries, it is advised you feed them 3 times a day. When feeding them, make sure you don’t overfeed them or underfeed them by observing the fish in the pond.

How often should I change the water in my fish pond?

How often you change the water in your fish pond depends on the type of pond you are using to farm your fish.

For example, when using a plastic pond, the water should be changed every two days. You can make use of the flow-through system if you have the bandwidth.

How do I market my fish?

When your fish become ready for harvest, you can sell them to individuals or fish sellers in the market. You can also sell to bars, hotels, and restaurants.

How long does it take fish to mature?

Normally, it takes a minimum of 4 months for your fish to grow and become mature. For example, catfish take 4-5 months to grow.

Conclusion

The fish farming business is worth venturing into, and the financial rewards can be satisfying. For large-scale fish farmers, sound management practice can turn their fortune around, making them lots of money from the fish farming business.

Fish farming business
Fish farming business

I hope this article provides you with some essential tips and information on how to go about your plan of starting the fish farming business. Kindly drop your comments on the comment box below.

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