Catfish Farming Life Experience Business Proposal
Catfish Farming Life Experience Business Proposal
Catfish Farming Life Experience Business Proposal is a free guide for you. As a matter of facts, Several persons are into this business, and making a lot of returns annually. Chris Farm and Extension services alas Chris Farm Nigeria offers Free Livestock Consultation. Are you a Farmer or intending farmer? You can contact us today on our numbers. Furthermore, We write Professional business proposals, Business plans and Feasibility Report for your personal use, Grant, Loan or Investors use. Peruse through our Business plan and feasibility Study Table of content below and see what you get when we write one for you. Similarly, you can write your own with that same Table of Content, its free for you to copy. Please note, The article is free, and also a tip of an iceberg to compare when will write For you.
In like manner, below is a Catfish Farming Life Experience Business Proposal by Mrs. Edith ONwuka. This can give you a real life scenario. Nevertheless, Follow us up on our pages daily for up dates.
COMPANY NAME AND BRIEF ON THE BUSINESS CONCEPT
My name is
Mrs. Edith Onwuka and my company name is
Tekland International Ltd, I took up the business of fish farming when I
resigned from my job as an accountant in an oil company in 2009. During the
course of my seven years of work experience in the oil sector, I have always
dreamt of a business of my own and I continued saving towards it. In 2009,
having made up my mind on the business channel and with a startup capital at
hand, I quit my job to establish this fish farm.
As a newly married, my quest and prayer for a
line of work that will give me freedom for my matrimonial responsibility and as
well provide financial support the family came to reality.
Today, I
have employed four years into this venture and I have no regret living my N3m
per annum job for it. I am financially better, I am a loving mother to my two
children and my husband, I have three staff under my employment and that gives
me a lot of joy.
OPPORTUNITY OR PROBLEM IN THE MARKET TO BE ADDRESSED
During my
feasibility studies, my findings clearly indicates that fish remains the most
acceptable and healthy source of protein for human consumption, but this
essential product is not readily available in our local content to address the demand of our ever increasing
population, hence the continuous importation of frozen fish to make up for the
shortfall, but still the cap in demand and supply keeps widening, giving rise
to high cost of purchase and denial of fish in most homes because they cannot
afford it. Rampant cases of goiter (sickness due to lack of iodine) is been
recorded in our hospital in recent times due to the scarcity of the main source
of iodine, fish in most homes. This is a
social and economic problem I felt should not be left to the Government alone.
Most children that grow with low protein intake end up malnourish and low
intelligent quotient. Economically, the continuous importation of frozen fish
to the country reduces our GDP, and as economist I know what this situation
does to the national income. Also, the ever increasing rate of unemployment in
the country is truly becoming worrisome to the Government and well-meaning
Nigerians.
IMPORTANCE OF THIS CONCEPT
like
most entrepreneurs, I entered the fish business for profit, but the
underlying benefits cannot by overemphasized, from putting more fish into the
system, thereby increasing the chance of more source of protein in the society
at affordable rate to reduction of unemployment rate and increase in national income, taxes
are paid and wealth are distributed.
WHO ARE THE CURRENT AND POTENTIAL COMPOSITORS AND OUR COMPETITIVE ADVANTAGE
Our main
competitors in this fish farming business are the importers of frozen fish and
co-fish-farmers like me. From my analysis, the cost per kilogram of frozen
fish, popularly called ice-fish is N750, to achieve this, I weighed three units
which gave me a kilogram of and a unit of that size of fish I bought for N250. Currently,
the catfish is sold to main distributors at N500 per kilogram, and it is
retailed at N600 per kilogram, this makes it reasonably cheaper, survey data
has shown that the catfish is preferred to the frozen ice-fish in taste and
nutritional value. For other competitors in the cat fish farming, I have a
considerable advantage, being that fish farming is my passion and my farm is
situated right within my premises which makes supervision easier and effective.
I own the main capital in the business, which is the land and the situation/location
and climate of the area is very suitable for fish production. I have relatively
low overhead expenses with few staff presently to match my current production
capacity.
TARGET MARKET
With the
location of our business in Lagos State, I enjoy huge patronage of the large
population here. Currently, our product is not enough for the market women and
hotels around my place, isashi, igbara axis. But moving from 5,000 to my
proposed 20,000 in every three months, I have made extra effort to contact cold
room buyers within the state, and preservation through drying is also a planned
option. I am also reaching out to industrial users that utilizes the fish for
fish meal production and other products. I have been to Benue state where I saw
basket load of tomatoes thrown away at the end of market day but fish is one
product that is never sufficient for sale and here are adequate preservation
processes available.
MARKETING STRATEGY
The demand
for cat fish is non seasonal commodity ,we have plans to reach out to other market in and around Lagos
for faster sales and better profit, we plan to also employ the service of the
available modern fish driers as I have identified that dry fish yield more
profit and it is preserved and sold at will. Bulk cold room buyers from the
northern part of the country are already indicating interest, a nearby farm
with over 200,000 fishes stock have not been able to satisfy them and they are
always on the lookout for more.
BUSINESS MODEL
Currently, I
am on a 5000 capacity of cat fish production in every three months. I have been
able to achieve this with three capable staff, my farm manager and two helpers.
Production
of cat fish is one business that demands care and expertise, the main
expenditure in the production cycle is the fish feed and the staff salary. It
takes a life cycle of about six months to get to maturity when fed adequately.
Upon
hatching, the small fish is started with atamia, this is the powder-like form
of the feed, it is the most expensive of all the feed stages but the
consumption rate of these fishes at this time is relatively minimal. This feed
type contains adequate minerals, vitamins and nourishment to support growth,
development and protection hence they are specially made.
A matured
cat fish is expected to weigh one kilogram or above.
Please see
below tabular presentation of the life cycle feeding process and cost per
stage. Including other expenses.
|
FEED TYPE
|
ATAMIA
|
Feed size;
0.2, 0.6, 08, - 1mm
|
Feed size;
1.2 - 2mm
|
|
|
|
Unit cost
|
|
UNIT/NO OF FISH
|
CONSUMPTION RATE COST (N)/WEEK
0 – 3WEEKS
|
CONSUMPTION RATE COST (N)/WEEK
1 – 3MONTHS
|
CONSUMPTION RATE COST (N)
3 – 6MONTHS
|
TOTAL COST OF FEED
|
SALARY & OTHER EXPENSES
|
TOTAL COST PER CYCLE (6MTHS)
|
|
|
500
|
500X3=1,500
|
1000X12=12,000
|
4000X12=48,000
|
61,500
|
100,000
|
161,500
|
323
|
|
5000
|
15,000
|
120,000
|
480,000
|
615,000
|
900,000
|
1,515,000
|
303
|
|
20,000
|
60,000
|
480,000
|
1,920,000
|
2,460,000
|
3,000,000
|
5,460,000
|
273
|
|
1
|
|
|
|
|
|
|
|
Our stocking
strategy entails having four pounds stocked with certain number of fishes
(presently we have 5000). This stocking is done every two months, hence at the
maturity time of a set we already have three younger sets waiting.
On
harvesting, the following set is usually four months old and the one following
is two months old while the youngest set have just been hatched. This process
guarantees our harvest every three months, which gives us four times harvest in
one year.
SUMMARY OF PROJECTED REVENUE AND PROFIT BASED ON THE PENETRATION OF THE TARGET MARKET
From the
business model structure above, we have shown that the total expenses to bread
a set of 5000 fish cost N1, 515,000, and that of breading a set of 500 fishes
is N161, 500 while the projection for 20,000 fishes gives a cost of 5,460,000.
This analyses gives a unit cost of N303, N323 and N273 respectively.
Noticeably,
there is lower marginal cost of production with increase in number of fish in
production.
Presently,
the selling price for a kilo of cat fish is N500.
From
experience, we have recorded less than 10% loss of fish upon harvest. For
analyses purpose, we are giving a loss margin of 20% for business safety
reasons. For a clearer presentation, please see the tabular presentations
below:
FOR PRODUCTION OF 500 FISHES:
|
|
QTY
|
UNIT PRICE(N)
|
AMOUNT(N)
|
|
|
|
BREADING
|
500 FISHES
|
323
|
161,000
|
|
|
|
SELLING
|
400 FISHES
|
500
|
200,000
|
|
|
|
PROFIT
|
|
39,000
|
|
|
|
FOR PRODUCTION OF 5000 FISHES
|
|
QTY
|
UNIT PRICE (N)
|
AMOUNT(N)
|
|
|
BREADING
|
5000
|
303
|
1,515,000
|
|
|
SELLING
|
4000
|
500
|
2,000,000
|
|
|
PROFIT
|
|
485,000
|
|
|
FOR PRODUCTION OF 20,000 FISHES
|
|
QTY
|
UNIT PRICE (N)
|
AMOUNT(N)
|
|
|
BREADING
|
20,000
|
303
|
6,060,000
|
|
|
SELLING
|
16,000
|
500
|
8,000,000
|
|
|
PROFIT
|
|
1,940,000
|
|
|
FOR PRODUCTION OF ONE FISHES ASSUMING NO % UNIT LOSS
|
|
QTY
|
UNIT PRICE (N)
|
AMOUNT(N)
|
|
|
BREADING
|
1
|
323
|
323
|
|
|
SELLING
|
1
|
500
|
500
|
|
|
PROFIT
|
|
177
|
|
|
SUMMARY
|
|
EXPECTED PROFIT (N)
|
TURNOVER PER ANNUM WITH 3 TIMES
HARVEST (N)
|
|
|
1 FISH
|
177
|
531
|
|
|
500 FISHES
|
39,000
|
117,000
|
|
|
5000 FISHES
|
480,000
|
1,440,000
|
|
|
20,000 FISHES
|
1,940,000
|
5,820,000
|
|
MANAGEMENT TEAM
When I
started this business in 2010, our production rate was 500 fishes but this
figure rose to 3000 with one year, and today we can boast of 5000 matured
fishes in our three years of operation.
This
achievement I will always attribute to the quality of my management team, their
expertise and devotion.
My farm
manager Mr Yinka Olanikon, who is the head is an experienced young man formally
headed two successful farms before joining me. He is a graduate of macro
biology but with wealth of knowledge in fish farming, especially fish nutrition,
he is very industrious and has a flare for growth. With a little top up on his
salary status he was happy to join me and since then we have enjoyed each
other’s company.
Next in the
staff list of six is the Manager Assistant Segun Adejana, he is equally a
graduate, has worked with various farms around Lagos and has comfortably worked
with me for two years. He is a young hard working man, he specializes in
hatchery and tendering of small
fingerlings and juveniles.
The third
staff is Mr. Ndubuisi Nwafor, I call him the utility player, he happens to be
good in all aspect of cat fish farming, from hatchery to harvesting and sales.
He has given us more than four major customers.
Mrs Vivian
Uche is our farm mama, she is our stock keeper and operations person, she is
highly respected by all the other staff, her matured approach to operations
have always helped management communication to other staff much easier. She is
an OND holder but and a formal bank worker but with special love for farm work
just like me, she is very happy working with us.
The other
two staff are the two helpers, a male and a female, they assist in all the main
departments of our operations, from nursery to the sales aspect.
AMMOUNT OF MONEY NEEDED FROM INVESTUS AND FOR WHAT PURPOSE.
I am asking
for N10,000,000 (ten million naira) to support our operations,
With our
projected expansion from 5000 fishes to
20,000 fishes every three months, the ten million naira will be used to support
the feeding, and expand our facilities as listed below;
-
Purchase
of a 15tons multipurpose (cooling and drying) van at N2,000,000 (two million
naira).
-
Preparation
of three more ground pounds with concreted sides (5000fishes capacity) at
N3,000,000 (three million naira) at one million naira each.
-
Construction
of a bigger over head water tank, at N1,000,000 (one million naira.)
-
Purchase
of a bigger diesel generating set N600,000 (six hundred thousand naira)
-
Purchase
of more fish feeds to support the increase consumption as a result of increased
number of fishes at N3,000,000 ( three million naira)
-
Stocking
of diesel and other working tools and hatchery trays and nursery at N500,000
(five hundred thousand naira.
CURRENT STATE OF THE FIRM.
Currently
our farm is running on a six main staff strength, the two third of the unused
part of my plot where I live is been used for the farm which makes supervision
easier, the plot and a vacant full plot next to mine have been purchased to
support this expansion. We have four earthing
pounds, four tarpaulin made hatcheries, six tarpaulin nurseries, one kama japan petrol generator,
12,000 litres over head water tanks, one Nissan delivery and utility 3tons
capacity van.
Finally, You can start up with Tarpaulin pond at your home. We sale different tarpaulin sizes. Click here to see list
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SECTION 1(Business plan section)
- SECTION I – EXECUTIVE SUMMARY
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- MOTIVATION
- MISSION STATEMENT
- SOCIAL/ECONOMIC VALUE
- PROJECT STATUS & START UP
- WHY PREPARE THIS BUSINESS PLAN?
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- STUDY AREA
- COMPANY OVERVIEW
- MANAGEMENT TEAM
- DEPARTMENTS IN THE COMPANY
- EXPERIENCE
- MANAGEMENT TEAM GAPS
- SECTION III – INDUSTRY ANALYSIS
- DEFINING YOUR INDUSTRY
- YOUR INDUSTRY SIZE GROWTH RATE AND SALES PROJECTIONS
- INDUSTRY STRUCTURE
- MARKET OVERVIEW
- MARKET SEGMENTATION
- RELEVANT MARKET SIZE
- KEY SUCCESS FACTORS
- LONG TERM PROSPECTIVE
- MARKET CHARACTERISTICS
- SAMPLING TECHNIQUE
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- TARGET CUSTOMERS
- CUSTOMER NEEDS
- MARKET NEEDS / SOCIAL PROBLEMS AND SOLUTIONS
- BUYERS BEHAVIOUR
- MARKET SHARE
- SALES FORECASTING
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- DIRECT COMPETITORS
- COMPETITIVE ADVANTAGES
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- PRODUCTS & SERVICES
- FINISHED PRODUCTS
- PRODUCT QUALITY AND PRODUCTION QUANTITY
- PRODUCTION CAPACITY
- PRICING
- PROMOTIONS PLAN
- DISTRIBUTION PLAN
- SECTION VII – OPERATIONS PLAN
- GENERAL APPROACH TO PRODUCTION
- TECHNICAL ANALYSIS / PRODUCTION PROCESS
- EQUIPMENT
- PACKAGING REQUIREMENTS
- SECTION VIII – FINANCIAL PLAN
- REVENUE MODEL
- FINANCIAL ANALYSIS
- FINANCIAL ASSUMPTIONS
- FINANCE CHARGES
- FINANCIAL PROJECTIONS
- FUNDING REQUIREMENTS/USE OF FUNDS
- CRITICAL ASSUMPTIONS
SECTION 2(Feasibility study section)
- FINANCIAL MODELS
- SUMMARY OF PROJECT COST
- BUDGET OF FIXED ASSETS / CAPITAL EXPENSES / INVESTMENTS
- DEPRECIATION
- UTILITIES
- OPERATING EXPENSES (OPEX)
- TOTAL REQUIRED INVESTMENT OUTLAY (REQUIRED START-UP CAPITAL)
- FINANCING PLAN
- INSTALLED / AVAILABLE EQUIPMENT
- BREAK-EVEN ANALYSIS
- LOAN REPAYMENT SCHEDULE AND INTEREST PAID
- FORECAST OF PROFIT AND LOSS
- CASH FLOW
- BALANCE SHEET
- GENERAL ASSUMPTIONS (BREAK EVEN ANALYSIS)
- BUSINESS RATIOS - PROFITABILITY ANALYSIS
- CONCLUSION
- SECTION 3 – APPENDIX
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Esemdiary village is a community in Okpe Local Government Area of Delta State with coordinates 05°26’N 5°57’E, which also plays the host community to the Warri Airport, which is actually located at Osubi.
Okpe Local Government is a territory that used to be part of the original Okpe Kingdom, its headquarters is at Orerokpe, with a population of 128,398 people whose primary occupations include commercial farming, fishing, hunting, trading and gas exploration.
After carrying out the feasibility study on Esemdiary village, Off Effurun-Sapele Road, Okpe LGA of Delta state, Nigeria, it was discovered that, farming generally will do well both on crop and animal production.
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