Easy guide to fish farming business in Nigeria

 

Fish Farming Business

The business of catfish farming 

After rearing your fish, your next most important motive becomes sourcing for buyers for your fish. There are many places that you can sell your fish considering that fish farming is in high demand- market women, restaurants, eateries, and etcetera. Apart from selling your catfish directly, there are other businesses that are attached to catfish farming that you can use as a supplementary business. These other businesses can fetch you an extra source of income, and make you an authority in the field of catfish farming, but before that, it is very important that you must have known the onion of catfish farming. Below highlight that will guide you in marketing your catfish 

1. Do not stock more than your financial capacity that you are forced to sell when it is not due. 

2. Start looking for buyers immediately you notice that your fishes are beginning to get mature. 

3. It is advisable to source for as many buyers as possible. At first, you may need to go through middlemen in sourcing for buyers. 

4. The art of negotiation is something that is very important in business. Ask other farmers the price range they sell theirs and ask sellers the price range they buy theirs. You can lose if you decide to fix a price without appropriate knowledge. 

5. It is also very important to wait for your catfish to mature as more profit is gained than when they are not. 


How to prevent loss in your catfish business 

Selling your fish before they are mature or due will cause you to experience a shortage of profit in your business or may even cause you to lose completely without making any profit. To avoid this, it is very important to plan from the onset how to intend to go about your catfish farming on which most planning will be hinged on finance. It is very important to be 100% financially ready if you want to go into catfish farming. Your plan should be based on what you have or what you don’t already have. If you are starting very much afresh, it is ok to take the gradual but consistent steps. 

- Do not stock under poor pond condition, because repairs in pond require that fishes should not be in the water which may make you sell untimely. 

- Feed consist of 60% of what will make your fish grow very well, and so, you must invest in a quality feed. Water quality and quantity go hand in hand to determine the growth of your fish. You may also need to stock your feed on time so you don’t run on a shortage of feed. 

- Theft: theft from intruders can make your loose profit in your business. Theft from human or animals 

- Buy fingerlings from certified hatcheries 

- Store fish feed in a clean and dry place 

- You can use pest management protocols to keep out predators - Use signage to inform visitors and personnel of security measures on the farm. 

- Mortality is one of the most dangerous threats you may face in catfish farming. You may need to prevent your fishes from death before they even start occurring. This is not to say that death won’t occur, but massive death should be secured against. 

- Seek for knowledge from experienced farmers, even if you are not directly involved in the business, basic knowledge of the most important aspect of catfish farming will save you from being used out of your ignorance. 

- Join an association of catfish farmers/ ask for help/ guidance.

Other businesses you can do alongside catfish farming 

1 Selling of feed/feed mill: if you happen to grow so much in catfish farming, you could decide to own your own feed mill as feed is what farmers can’t do without. You could even make local feed and sell. It will enable cut down your cost of production as well as make extra means of income. 

2 Catfish processing: there are other products that could be made from catfish. This includes catfish oil, dried fish etcetera. Dried fish which could be used as stockfish is becoming very popular.  

3 Logistics business: you could decide to engage in transport services between farmers and customers.  

4 Consultancy services: your knowledge could be very useful in training other people who will want to go into catfish farming. You can also decide to write a book, own a blog or a YouTube channel where you showcase various activities of your fish practically. With time, it will position you as an authority in catfish farming. 

5 Selling of equipment/ facilities: selling of equipment like pumping machine, dragging net, covering net, and fish plastic can be a profitable business for you.

6 Pond constructions: if you venture into selling the equipment, you may partner with a construction company and help people who may want to venture into catfish farming construct their pond, or even repair. 7 Exportation of catfish. 

8 As a middleman.

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