Wednesday, February 15, 2006

Thinking of Starting your Own Business?

Aquaculture does offer good potential for financial returns, it can be a rewarding business and one you can be be proud of. Like any other idea, your business size and scope has to suit you and your resources, to have the best chance for success. Always do your homework first and plan your business, then work your plan.

Aqua Farming can be undertaken on a full time or part time basis. Many successful individual farmers started farming fish on a part time basis and gradually developed full time commercial scale farms after gaining experience and developing resources. Starting a hobby aqua farm is a great way to gain experience and to determine if aquaculture is indeed a business/career choice you wish to make.

Small scale aquaculture requires considerable less investment than a full commercial operation diminishing your financial risks during the development and learning stages. Unless you have good training, farm management experience and strong cash reserves, look closely at starting small and testing the waters first.

The above is an exert from series of articles offering guidelines for evaluating Aquaculture as a buiness. The full articles can be found here.

3 comments:

lordreden said...

nice article. do you have estimates of how much each main component of the business would cost? for example, would fix assets constitute more than 50% of the total investments? thanks!

Robert Freeman said...

Great question.

In a commercial scale farm (say for example 150 metric tonnes per year) fixed assets would constitute better than 60 % of the required investment in a build from design farm this would include required equipment and the buildings, providing that the site choosen generally meets the requirements for such a development.

35 - 40% of the total project costs should be sit aside for operating capital and cash reserves, including the initial stock purchases.

That is in a nut shell answer.

Thanks

Wally Banners said...

INTENSE ARTICLE MAN! You can also grow alage and spiruilna mad money.