Fish farming business is the commercial breeding and rearing of fish in fish ponds, and one of the most successful and lucrative farms in agriculture.
That is because millions of people eat fish on a daily basis. Fish is rich in protein, rapidly in high demand and sells quickly. How to start and mske money from fish farming business? And here’s how.
How to start and make Money from Fish Farming
Below is an outkine of the steps to take to make your financial dreams come true in this business
1. Write an irresistible business plan
A business without direction is doomed to fail right from the start. Write a business plan to ensure that you know exactly what you need to start your fish farming business, operating costs and the profit to be realized.
That is crucial to the success of your Nigerian fish farming business.
2. Get your capital ready
In Nigeria the fish farming business is capital-intensive. You need millions of naira to start a fish farm in Nigeria , especially if you start on a large scale and you want to quickly realize a lot of income.
You can raise capital by taking out your own loans or savings. Your capital is the lifeline for your Nigerian fisheries business.
3. Get a farmland ready
Farmland is vitally important for a Nigerian fish farming business. The property you are buying or leasing needs to be conducive to farming.
Your farmland shouldn’t be home to snakes and wild animals that can harm your fish.
Make sure your lawyer has well documented transactions regarding the purchase or lease of farmland.
This is to avoid future battles, court cases or disputes that could potentially harm your fish farming business.
This might sound like an additional expense of hiring a lawyer but it is very important.
4. Construct your fishpond
The next step in your fish farming business should be to build fish ponds that will serve as shelter to your fish.
Your choice to start your fish farming business on a small scale or a large scale determines the type of fish pond you will choose.
Various types of fish ponds, such as;
Concrete fish pond
This is a type of fish pond made from concrete (blocks and cement) and connected to a supply of water such as a borehole. A concrete fish pond is a walled enclosure for the breeding in of fish.
Earthen fish pond
This is a kind of fish pond created by digging a hole in the ground. Then, water is supplied to the earthen fish pond from a source of water such as an overhead tank for the fish to breed in. An earthen fish pond is normally built round or square.
Plastic tank fish ponds
This is a type of fish pond that uses plastic tanks for fish breeding. When you operate your fish farming business on a smaller scale this is cheaper and preferable.
5. Provide an uninterrupted supply of water
Fishes desperately need clean water to survive.
Fishes can not live in water which is chemically treated. They can only grow in clean, fresh water, and mature properly.
Make sure there’s a regular supply of water on your fish farm to ensure your fish don’t die. You can receive water supply from such sources as a;
The water supply you choose depends on how large your fish farm is.
6. Determine the specie of fish you want to rear
The next thing to do is pick the kind of fish that you are going to raise on your fish farm. The most famous Nigerian-bought fishes are;
Catfish is the easiest fish to raise, and one of Nigeria’s most common fish eaten. It’s widely eaten in Nigeria ‘s homes, restaurants , and bars, hence its popularity among Nigerian fish farmers.
Tilapia fish is commonly eaten in homes and canteens in Nigeria, and is therefore common on the Nigerian market. The best thing about tilapia fish rearing is it’s easy to grow and it grows really quickly.
Catfish and tilapia are also the only types of fish that you can raise, as there are many customers willing to buy these types of fish on a regular basis on the Nigerian market.
You will have to buy fingerlings of these kinds of fishes for that purpose.
Fingerlings are baby fish that you can breed on your fish farm and they’re going to mature into fish that you can market to clients.
7. The fish food
You have to take care of them properly to allow your fishes to develop properly from fingering to maturity level. To live fish must be properly fed with sufficient fish feed. There are two big fish feed types which are;
Natural fish feed
This kind of fish feed is physically found in the fish pond. This feed includes plankton, worms, insects and plants for aquatic use.
This is a type of fish feed that is specially prepared by fish feed experts. This feed typically contains essential nutrients which are needed by fish. This is the most appropriate type of fish feed.
8. Harvest your grown fishes
It’s time to harvest them for sale, when your fingerlings are fully grown. Whether earthen fish ponds, concrete fish ponds or plastic tank fish ponds, you can make use of fish nets to harvest your fish from the fish ponds. Before sale, store your fish appropriately in a cold room.
9. Promote your business to potential customers
Even before processing, make sure you market your fish to potential customers. This makes selling all your fishes simpler, and making a lot of income. There’s a lot of customers buying your shrimp, like;
After harvesting make sure you store your fish properly. Hire or purchase transport trucks to deliver sold fish to their buyers, too.