April 11, 2021

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How to start a fish farming business in Nigeria

3 min read
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If you are looking for ways of starting a Productive fish farming business in Nigeria, then this article was written for your sake.

Let start this way, fish is a major source of protein in many homes, thus with a good knowledge of the fish farming business you can be making good money from supplying this important source of protein to these homes.

As a Fish farming consultant with many years of experience, I have been at the forefront of advising and assisting many investors to invest well in the business.

The bitter truth is this: If you don’t start the business the right way, you will not succeed.

But if you are already in the business and you are struggling, I have some good news for you, please read on.

Table of Contents
How to start a fish farming business the right way
Step One: Write a Business Plan
Step Two: Get the right tools
Step Three: Do a consistent Market Survey
Step Four: Build or join a network
Step Five: Plan for adjustment
How to start a fish farming business the right way
Follow these steps to start a fish farming business

Step One: Write a Business Plan
Most of the challenges I faced when I visit some struggling fish farmers for advice and assistance is that they just get into the business without any business plan or template. Sometimes, when I ask them, why do you go into the business? I will hear answers like:

I hear there is a lot of money in it
My friend is doing it
Someone advised me to, etc.
So, if you really want to be a successful fish farmer, write a detailed business plan/template, if you can’t write it hire a professional to assist you. No matter the size of your farm, a business plan is an invaluable asset that will guide how you manage and run your farm.

Step Two: Get the right tools
After writing your business plans, start putting the right tools in place: You will need ponds, staff and the right fish breed for the business. Whether It earthen, concrete or tarpaulin tanks, please try and seek professional advice from a fish farm consultant or an establish fish farmer, the advice from them can help you spot a mistake or any impending doom to your business.

Step Three: Do a consistent Market Survey
Start looking for the market even before you plan to start the construction process. Update yourself frequently with the current price of fish feed, table size fish, fingerlings, etc

Step Four: Build or join a network
The best thing you can do to your business is to connect with other fish farmers especially established fish farmers early. This connection will help you in terms of advice, sales, ideas and even when a disease condition hits your farm.

For me, this is the most important part of the business; don’t run the business in isolation, search and connect with others, there are obviously many benefits with a network.

Four months ago, I was in a fish farm for supervision and their number one client calls for fish supply, they didn’t have any, but they obviously cannot relate that to their client, so they reached out to their network and buy off fishes from two fish farmers in the network who were struggling to market their fish. Even though it was not enough for their client, at least they were able to get up to 80% of the fish and promised to add up the remaining 20% in one week.

Step Five: Plan for adjustment
Make sure you create room for innovation and new ideas in your business template. They can be needs to expand the farm, build a hatchery, get new staff, etc. Don’t be too rigid and don’t be too flexible. This is where most of the struggling fish farmers fall into, if you start your business with the wrong idea and you discover that it is not working as plan, make room for adjustment and invite a professional for guidance and assistance.

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