Profitable Catfish FarmingBusiness

How to Start a Start a Profitable Catfish FarmingBusiness in Nigeria

Business Overview:

The business of catfish farming is a very easy and flexible yet still profitable. It can be done anywhere as long as you have a suitable place, the wiliness and the zeal to make to make more profit.

What is catfish farming?

Catfish farming simply entails the growing of one of the different group of ray-finned fish on a commercial scale in Nigeria. It involves building either an earthen, concrete or tarpaulin ponds, stocking it with either the fingernails or juveniles and then feeding the fish till they attain market size.

Types of Catfish Farming Business Models

Catfish farming consists of two most important types, which could either be operated separately or as an integrated process. These are;

1.      Nursery Fish farming: The nursery involves the inducement of the female fish to lay eggs, which are then fertilized, incubated and hatched. These little fishes are know as fries.

2.      Grow out fish farming: The Grow out fish farming takes the little fries andfeed them till market size.

How Profitable is Catfish Farmingin Nigeria

From data and statistics from the market around the world, its entirely safe to say the catfish farming industry is a very big one, and you’ll forever be profitable if you decide to start a catfish business, you can hardly go wrong if your business is centered around food.

Is there a Market Demand for Catfish FarminginNigeria ?What is the Competition and Opportunities Like?

With the current shift to agricultural business, in Nigeria, it is essential for farmers and prospective businessmen to fully utilize the potentials in this sector.

There have been an increase in the consumption of the special delicacy prepared with this breed of fish. Hotels, Beer Parlors, Pepper Soup Joints are ordering this specie of fish in large quantities and making lots of money from it, so its safe there is a market demand for it.

Nonetheless, more people want to get into the business of catfish farming in Nigeria and they want to get it right, so if you’ve made up your mind to excel in this business, you can do it.

How to start a Catfish FarmingBusiness  in Nigeria

Follow the steps if you wish to start a Biscuit Production factory:-

1.      Get The Facility /Machinery Needed : This may include some of the followings:-

ü  Half plot of land;

ü  Constant supply of fresh water from well or borehole;

ü  4 Ponds each of about 8 square metres in area.

ü  Plastic containers and one square metre of net.

2.      Select your Pond Type: You need to determine whether you want to go into big or small-scale commercial catfish farming, this will invariably determine the size and type of pond to use.

3.      Determine the choice of fishes:Selecting the species of fish is important in determining the appropriate techniques, you can go for catfish or tilapia. For beginners, catfish is quite easy to cultivate.

4.       Understand catfish farming’s market:Since your objective is to make profit, you have to investigate the level of demand for the catfish in your area.

5.      Have a Price index:Your product price must not be too high so that it will not discourage potential clients and business partners. A well-reviewed price must be enacted.

Management

This covers staffing and advisers for Catfish FarmingBusiness in Nigeria

1.      Staffing: in starting a Catfish fish farming, apart from the people employed during the pond construction, the major staff you will require are the people to feed the fishes, clean the ponds, security and a sales manager.

2.      Advisers: The advisers you will require as a new start up includes veterans in the field of fish farming, successful people that has been in  the business for long and are willing to guide you.

Marketing

Let us now consider how to market and boost the Profitability and sustainability of Catfish FarmingBusiness in Nigeria.

1.      Advertisement Strategies:-  Below are some of the available options you might use:-

ü  “Word of mouth” publicity by friends and family.

ü  Branding of clothes for the workers in the farm house.

ü  Billboard and Signpost erected at the entrance of the farm

ü  Leaflets, flyers, and Business cards.

ü  Local Newspaper adverts.

2.       Profitability/Sustainability Tips for Catfish FarmingBusiness in Nigeria:-

To keep fish losses low, educate yourself on the use of water quality test kits.

Keep complete, detailed records.

As your catfish grow, remember to increase the amount you feed them. Feed should be increased at least every two weeks to avoid underfeeding.

 You should remove a few sample fish every few weeks and weigh them to make sure the growth rate of your catfish is progressing.

Summary and Conclusion :