FISH FARMING a lucrative business by prospectus agribusiness entreprenuers

Though fish farming is by no means a new practice, it has gained popularity in recent years, mostly due to the increased global need for fish as healthy and nutritious food. Farmers enjoy raising fish as livestock because it requires minimal land for a high profit. Fish farming may be a business that requires specialized knowledge and extensive time, but with hard work, aquaculture can be a profitable business [source: Helfrich, Libey]. Read the steps listed below and learn about how to start fish farming.

• Evaluating profitability Before starting a fish farming business, it's crucial to examine whether you have the resources and time to devote to this venture. Important aspects to consider include supply and demand, capital costs, operating costs, legal aspects and production capabilities. Evaluate the current market and see if there is room and demand for a new fish farm.
• Training Once you decide that fish farming is a viable and profitable endeavor, it's recommended that you work at an operating fishery to learn the ropes. There are a number of technical and managerial skills that you must perfect before venturing off to start the business. A training stage -- though it will yield less income -- will prove to be invaluable in the future. Working at a successful fish farm will teach you how to perform water quality management, disease control, feeding, marketing and processing skills. Without this knowledge, you may run into difficulties in the future [source: Helfrich, Garling].
• Starting small It's advisable that you start a small fish farming business, as a part-time business. Setting up a few tanks on your property and learning the ins and outs of the business will produce income and prepare you for a larger investment

 
steps to follow

1. Choose a purpose for your fish hatchery. Why are you beginning the business?
   • Will you raise fish for food, hobby or ornamental purposes?
   • Are you planning the fish hatchery as your main source of income, extra income or as a hobby?
2. Gain knowledge about fish farming. Learn all you can about owning a fish hatchery. This will help you make educated decisions when beginning your business.
   • Consider taking college courses or participating in programs related to fish farming.
   • Visit various fish hatcheries and interview their owners and workers. Also check out fish hatchery web sites.
   • Take on a part-time job working at a fish hatchery. Hands-on experience is best. If you cannot find a job, ask a few fish farm owners to let you come and help out for a few days.
   • Online learning, books and manuals are also good options for learning more about fish farming.
3. Determine if you have the proper location to establish a successful fish farm.
   • What type of water source do you have on the land where you plan to farm? What types of fish would best thrive in the water?
   • What are the weather conditions in the area? Is the land prone to flooding?
   • Are there any buildings? How much construction will have to take place to begin the business? Do you need any special permits to begin the business?
   • Do you have room if expansion is needed? Is there enough room to house and transport the fish?
4. Analyze the outlook for the business.
   • Do you have a buyer for the fish? What type of market is out there for the fish you plan to harvest?
   • Have you talked with any industry representatives? What type of fish is the best option for starting your business?
   • Have you contacted people to assist you on special issues that arise?
5. Discover how much money is need to start your business. How much money do you need to begin digging ponds and buying your initial fish to stock them?
   • Analyze your savings, investments and assets.
   • Consider trying to obtain a small business loan.
   • Do you have a finical plan in place and is it realistic?
   • What type of cash flow are you expecting?
6. Contact the appropriate people to get the business started.
   • Construction and equipment needs will need to be taken care of first.
   • Find a seller for your initial stocking to begin the fish farm.
   
   

Requisites

Land, water, capital, a market, and management skills are essential to successful fish farming. Knowledge of these requirements will help you to plan and develop your enterprise.