Here are the 5 Steps to Follow to Start a Fish Farming Business
Do you want to start a fish farming business? Find here a list of top profitable fish farming ideas you can start with a low investment.
Fish farming business opportunity demands special knowledge, skills, and day-to-day careful monitoring. Commercial fish farming has proven to be an economically successful business venture around the globe. Fish is healthy, protein-rich and tasty food with low cholesterol and calories.
Choose the Type of Fish for Farming
The first thing you must consider while starting fish farming is the type of fish you are going to produce. Below find the most popular types of fish farming that are presently fetching good returns.
Tilapia has become the third most important and popular fish after carp and salmon. High protein content, large size, rapid growth (6 to 7 months to grow to harvest size) and palatability; are the major reasons that make tilapia fish farming highly profitable and popular.
Commercial shrimp farming has been developed for more than a century in Southeast Asia. Extensive shrimp farming operation is considered the simplest culture approach. Market demand is very high and can be initiated small-scale basis.
Ornamental fishes are colorful, fancy and generally known as aquarium fish. According to industry experts, the ornamental fish trading industry with a turnover of US $ 6 Billion and an annual growth rate of 8 percent offers a lot of scope for development.
Commercial catfish farming is very profitable. Aquaculture farmers can initiate catfish farming alone or combined with other species. Catfish farming can be initiated with comparatively low cost and on a small-scale basis.
5. Crab Farming
Intensive commercial crab farming can be performed in smaller areas and at greater densities, minimizing land and labor, but the environmental impacts of these techniques can be significant. The mud crab (Scylla Serrata) is a promising aquaculture species due to its fast growth and good market acceptability and price.
6. Prawn Farming
The worldwide demand for prawn is increasing highly. A freshwater prawn farm is very similar to a freshwater fish farm. With the help of modern improved technology, one can start prawn farming to meet local and export demand both.
7. Fish Hatchery
A fish hatchery is an artificial place for breeding, hatching, and rearing through the early life stages of animals, finfish, and shellfish. Selection of right species is important in starting fish hatchery business. Some species that are commonly raised in hatcheries include Pacific oysters, shrimp, Indian prawns, Carp fishes, salmon, tilapia, and scallops.
8. Carp Fish Farming
Carp are omnivorous, with a high tendency towards the consumption of animal food, such as water insects, larvae of insects, worms, molluscs, and zooplankton. These food habits play a major role in the profitability of carp farming.
9. Salmon Fish Farming
Salmon farming is the commercial production of salmon from egg to market in a net-cage, pond or contained system. Salmon are carnivores. On average it takes two to five kilograms of wild fish (used in feed) to produce one kilogram of farmed salmon.
10. Indoor Fish Farming
An entrepreneur can initiate indoor fish related farming from the home location with moderate capital investment. You can also integrate an aquaponic system to grow plants with your indoor fish containers and raise fish, vegetable, and herbs at the same time.
In starting a profitable fish farming business you will need to have substantial financial resources with land and good quality water bodies. You will need to be enough knowledge about the process of this business. You will need to procure the necessary equipment and machinery for the business also.
Benefits of Fish Farming
- Fish farming is one of the fastest growing food production sectors in the world
- Fish and fish product has huge and increasing demand throughout the globe.
- Market demand and the price are always high for fish and fish related products.
- Fish farming plays an important role in the economy, providing thousands of jobs in operations and ancillary services.
- Different several types of fast-growing fish species are available. Farming those fast growing fish species ensure rapid returns of your investment.
- People with other occupation or job can also start this business.
- Bank loan and funding assistance are also available on the fish farming project.
Cost Calculation of Fish Farming
Two types of capital investment broadly include in this farming business. One is capital cost and the other one is operating cost. Capital cost includes land & building, crafting ponds, vehicles for transport, plumbing arrangements, several tanks, oxygen meters etc.
Operating cost includes purchasing eggs or fingerlings, fish feed, electricity, fuel, labor, chemical, medicine, tax, insurance, telephone, transportation and other maintenance cost involved.
Before getting into the business, carefully prepare detailed cost calculation of your proposed fish related farming project. Calculations will be different as per the types of fish you are choosing for fish farming. And also according to your desired output and total land area.
Important Consideration About Fish Farming
Feasibility analysis and business planning is the must before starting a fish farming business. Do an intensive market research before getting into fish farming. Understand the local market demand. If you are going to start fish farming for export, then talk to fish processing units prior. Prepare an alternative marketing strategy to rely on. Choosing right species of fish plays a major role in getting success in the fish farming business. The decision should be based on market demand, maintenance point of view, availability of resources etc.
Having skill is important in starting a fish farming business. You can get training from Government running farms that conduct training. Working at a successful fish farm will also teach you how to perform water quality management, disease control, feeding, marketing, and processing skills.
- Ensure that you have a continuous source of quality water.
- Check whether your water temperature is optimal for the fish species reared or not.
- Ensure an easy access to the pond for feeding and harvesting.
- Test the water in which you are starting fish farming both chemical and bacteriological.
- Learn about the modern technical method of risk assessment and as well as risk management.
- Finding out reliable suppliers for fish eggs, fingerlings and fish feed are very crucial in fish farming business.
- Figure out legal compliance and permission needed to start a fish farming business in your locality.
Fish is one of the main components of animal protein ina diet. There is an increasing popularity of having fish as food worldwide boosting has boosted fish farming business globally.