Five steps to start fish farming business
One business which is thriving now is fish farming. This is because as more people are cutting down on eating red meat, they are going for healthier choices like fish.
A fish based business could easily generate good returns on investment. You could easily make a steady income from your home, using aquaculture fish farming techniques.
However, getting knowledge on how the business runs is very important.
A fish farmer and consultant, Muhammed Shuiab said before you go into fish farming, you need to determine whether you want to go into big or smallscale commercial venture. “Secondly, the pond system to adopt; whether it is a flowthrough system or recirculatory system using either earthen pond, concrete, or plastic tanks respectively.” Shuaib explained.
There are two types of fish farming, Shuaib said - the “nursery operations and primary operations. Nursery operations involve the inducement of the female fish to lay eggs which are then fertilised, incubated and hatched thereafter. The newly hatched fish are known as fries. These fries are then nurtured for between three to four weeks into fingerlings which are the size suitable for use in the fish grow-out operations,” Shuaib explains.
In between the nursery and grow-out operations is the primary operation. The primary operation involves the nurturing of the three weeks old fingerlings for between one to 10 weeks within which they could grow into post fingerlings, mini juveniles and post juveniles. These can then grow between four to five months to a table size fish suitable for sale and ready for consumption.
If you want to start small, you can setup a fish pond right in your backyard. It is also possible to raise fish in a fish tank in your garage. You can easily get all the supplies you need to set up your small fish farm and start fish farming.
The average cost of fish in the market is N600, so if you have a pond and you are able to stock 10,000 fish, I guess you know how much your return on your investment will total up to. That will be about N6 million
“For fishes, water is life,” according to Mr Felix Mbuk, another fish farmer.
“Water supply must come from a good source e.g borehole, tap or any spring of water that is flowing around your pond. This will help guarantee steady water supply for filling the pond and draining waste respectively. On my farm, I have a reservoir where I store water, so I don’t lack water,” Mbuk said.
Again, feeding the fish is very important. “Without this, they cannot gain weight. And when they are hungry, they can become wild. So, you must have money for their food handy at all times. Fish feed is a very vital component in operating a fish farm. You must feed the fish to attain required weight gain,” Mbuk said.
Capital to start
“This varies depending on the type of fish farming systems you are willing and ready to invest on. With a minimum of N150, 000, you can start the production of fingerlings to grow to three weeks then you can advertise for sale to other farmers to buy at an average price N30 depending on the size,” Shuaib said.
Know your market
Once you know what your options are and how much money you need, the next step should be analysing the market. Who are your buyers? What type of fish is most profitable?
On how lucrative the business is, Shuaib says yes. “The average cost of fish in the market is N600, so if you have a pond and you are able to stock 10,000 fish, I guess you know how much your return on your investment will total up to. That will be about N6 million,” he explained. The second round of Youth Entrepreneurship Support Programme (YESPROGRAMME) organised by BOI is now open. Applications Closes on 17 July 2016. It is open for young entrepreneurs within the age bracket 18-35 years. To apply kindly visit http://onlineregportal.com/Dashboard/YesProgramme. Applicant who applied for the first round but were not successful are encouraged to improve on their submission and re-apply
Successful applicants can get facility up to 5miilion for start-ups.