If you’re a Nigerian, you would have heard about aquaculture or fish farming? That is correct, fish farming business in Nigeria is a lucrative business if you know what you’re doing and it is a small scale fish farming. Tilapia farming and catfish farming in Nigeria are also among the aquaculture fish farming.
A fish farm or fish based business could easily generate a good amount of money. Even if you are not really a traditional fish farmer, you can easily make a steady income from your home, using aquaculture fish farming techniques. Fish is becoming popular as a source of protein, and it could easily feed a small family with very little cost or overheads.
There’s also other benefits of fish farming. You can use the waste out of your kitchen to feed your fish, and for those who have a kitchen garden, you could utilize the waste from the fish as fertilizer for the kitchen garden.
Starting Your Own Fish Farming Company
Starting just about any company needs experience in the related field. If you’re not used to the fishing business, it could be a good idea to start small and gather experience as you progress. Managing a business requires many of the administrative skills, whether it’s fish farming or some other business. Moreover, it means that you won’t have an expert/boss to offer directions you’ll need, thus you have to make all of your decisions on your own, if you don’t have any partners.
Decide on first step – gain knowledge
To start out your own fish farming business in the aquaculture fish industry, you must first learn about fish farming. Studying fish farms will get you ready to generate educated decisions. Visit a number of the fish farms in the area or meet with people like you that have entered the fish industry earlier before you start.
The internet has a lot of information to gain knowledge. You could find exactly about aquaculture and fish farming from websites online. Consider signing up for classes, visit webinars and other available websites that talk about raising catfish, farming fish, farm raised fish and aquaculture fish farming if you could possibly do that, to gather more details about the business.
Look forward to the challenges you’ll be facing as you know every business has its own challenges, and you will do whatever it takes to get firsthand knowledge about the fish farming business. Choosing a part-time job at a local fishery may also give you a practical training. You can also attend seminars where you could learn about catfish farming in tanks, fish production, aquaculture supplies and other available knowledge about aquaculture systems.
Set Your Primary Goal
Setting your objectives before starting your small business is essential at the start of your venture. You should know just what you are going to produce, in what amounts you need, how many people you will need, the amount of money it will cost, and how much profit you can expect from the business. Of course, this is the initial step for making towards a business plan.
Preparing your own business plan will help you incorporate your business, get the necessary government documents, or licensing, help you to pick the best location, get environmental clearance, and so on. You will probably need your small business plan to have funding from the bank or get investors.
Analyze Your Market
As soon as you know what options are available and the amount of money you may need, step 2 should be to analyze the market. Who’re your buyers? What type of fish is most profitable? What amount can you supply? Have you contacted anyone for the special needs or perhaps in case an urgent situation arises? Have you investigated all expenses related to your fish farming business? You would need to think it through.
Setting up Your Fish Farming Business
Since you would like to start small, it’ll be helpful to setup a fishing pond in your backyard. It’s also easy to raise fish in a fish tank in your garage or indoors. It is easier to get all the supplies you need to set up your small fish farm and start fish farming.
For those who have buyers ready or know you could easily sell your fish, build your fishing pond or tank large enough to make enough production.
Get your supplies at wholesale prices. You can find wholesale fish supply online and even merchants also.
Building Fish Farm in Your Backyard
Building a sustainable fish farming in your backyard is possible. Once you have decided to operate from your home, you could choose a location in your backyard for a pond. You could easily dig a pond, and start adding fish inside it.
You might need to process your water to make it suitable for young fish. You can buy small bags of fish from a hatchery near you. Make sure you feed your fish with appropriate proper diet and look after your pond or container. Harvest your fish and reap your success.
In conclusion, fish farming is not a new business to you, it has gained popularity lately, especially in Nigeria, mostly because of the increased global requirement of fish as nutritious food. Farmers enjoy raising fish as livestock as it requires minimal land for any high profit.
Hope your fish farming business brings you success and good luck with your new venture about fish farming.