THE SECRETS TO MAKING HUGE PROFITS FROM FISH FARMING

There is a secret to making HUGE profits from fish farming, but it will no longer be a secret by the time you finish with this article.

WHY IS IT THAT SOME MAKE SO MUCH FROM FISHERY BUSINESS WHILE OTHERS MAKE SO MUCH LOSS?

HAVE YOU EVER HEARD SOMEONE SAY FISHERY IS RISKY?
The truth is, What you dont know is the reason for your tears. Sit tight and let me teach you what i know.

The reason you are into Fishery in the first place is to make profit, and the more the profit the better. It means you should try as much as possible to cut down on your expenses and increase your earnings. So that is where we will begin.
EXPENSES
Fish Pond rentage
Remodelling cost and Pond Preparation
Fingerlings
Then comes the almighty expense, THE FEEDING.
And my friend, that is what distinguishes the successful fish farmers from the highly successful fish farmers.

When i started out in the fish farming business, i was so obsessed not just with how to make more profits, but also with raising enviable marketable fishes. I had a good intention, but my method was wrong  Guess what the result was? I DID NOT GAIN MUCH BUT THANK GOD I DID NOT LOOSE EITHER. My mentors believed i had to feed them with imported feeds so they can grow well. They estimated that each fish will consume 200 naira worth of feed before maturity. They said i must feed them thrice a day for the first few weeks and then twice till the time to harvest is ripe. Hence, i poured thousands of naira into the water in the form of pellets and i was not surprised to see the fishes growing well because i knew i did a good job on feeding, until the end of the third month when i ran out of funds. My fishes starved but at the end of the day, i did not loose but i did not make much profit neither.

If i knew better i should have managed my money, and i would have made more profit. The whole essence of fishery business is knowing how to manage your money to reduce your expenses and yet produce big fishes. Do not forget that. Your goal is to;
1. Manage your money well, i.e reduce your expenses
2. Produce very big and healthy fishes

There are various ways to cut feed costs and one is with the use of maggots............We will continue from there next time.

HOW TO MAKE MONEY FROM FISH FARMING

Have you always dreamed of owning your very own fish farming business?
Do you feel that the place that you have would be a great fish farm?

Opportunities are everywhere, but it takes a trained eyes to see them.I believe there are more opportunities for financial affluence in agriculture than in any other channels of wealth creation. But it takes trained hands to profit. This week, i will be showing you how to make huge profits from fish farming!

FUNDAMENTALS OF FISH FARMING

Starting a fish farming business requires a lot of knowledge, skill and planning as the investor would have to look into a lot of variables to make the business possible. Though starting a fish farming business would require intensive study of both the actual technique in fish production as well as the expenses one has to invest for equipment, the fish farming business can prove to be a very profitable venture.

Studying to start a fish farming business

The very first thing that any prospective fish farming business owner has to do is to soak up on as much knowledge in fish culture as possible. It is highly advisable that he creates time to study materials that are related to fish farming. If the fish farming business owner has no experience, it is good that he first try and work for an established fish farming expert to know the ins and outs in fish farming. .

Do the research in the fish farming business

LOCATION!  LOCATION! LOCATION!

The would-be owner needs to study the conditions that surround his proposed location of the fish farm. He must take into account the source of water in the area and how much is flowing from it, what rate and the temperature of the water. These variables will determine whether the site is safe to breed fishes, and what kind of fish you can breed on the site. Some fishes breed faster better in warm water than others. Also look into the conduciveness of the buildings and structures around the farm.

WHO ARE YOUR BUYERS?

After looking into the conditions of the environment the entrepreneur also has to look into the possible market of the fish. It is not profitable to harvest tons of fishes with no buyer. Could there be a contractor for the fishes? How about fast food chains? How far is the market for the fish and what vehicle will be used to transport the fish?

ORGANISE YOUR BUSINESS

After finding out the possible market conditions the owner must look into organizing the business. The owner must register it as either sole-proprietorship, partnership, corporation or LLC. This is important especially if you want to use bank loan to finance yourself.

    MONEY!

 It is time to chart the financial aspect by determining the expected and unexpected expenses of the business. How much would everything cost and what would be the sources of the funds. Through this financial analysis the entrepreneur will know in the long run how much he needs to profit for how long to pay back the overhead cost and if it is profitable to start the fish farming business
 Raising fishes on your own is not too difficult but it does require commitment and hard work.

Here is a step by step process on how to make money from fish farming!

1. Learn about the species you plan to raise. There are several varieties that are popular choices for fish farming. You can farm catfish, bass, bluegill, tilapia, salmon, minnow and many other species. No one fish is better for farming than another. You can even farm more than one species of fish at a time. You just need to make sure that the fish are compatible with one another and you learn everything you need to know about fish farming for the type of fish you choose.
   
2.   Make sure your land meets basic requirements for farming fish.
3. In order to farm fish, your land should meet two important requirements: The pond should be on land that is level and positioned above the food plain. The pond must have lots of good-quality water.
   
4. Pay attention to the size of your pond.
   The amount of fish you can raise will depend on the size of the pond. You don't want to overcrowd the pond with too many fish since that can affect how well they thrive.
   
5. Keep careful records.
   If you farm fish in a small pond for personal use, keep record of the fish you catch including the size, species, and the number of fish you restock. Also keep record of the amount of food you feed your fish.
   
6. Keep an eye on potential problems.
   The biggest threat to your fish pond will probably be snakes and turtles,  They will eat up your fishes( especially if stocked fingerlings), compete with the fish for the food you supply and take up valuable oxygen in the pond. These puts the fish at risk. You can solve the problem with a turtle trap or an overhead net that catches them live so you can release them far away from your pond.
   
7. Understand the business side of  fish farming.
   If you are farming fish to make money, it's important to make careful decisions about which species you will raise.  The fish should take easily to supplemental feeding, and be resistant to parasites and disease. If you are raising more than one species, make sure none of the fish is cannibalistic or territorial by nature. You also want fish that are easy to catch, transport and process. I usually recommend the Clarias species (cat fishes).
   
   Thanks for reading, join us next week for more information on THE SECRETS TO MAKING HUGE PROFITS FROM FISH FARMING.