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The money expected, depends on turnout of farm. As a rule however profit rate is about 75 – 80%. Fishes are sold in weights (KG) and not in numbers. Loss or non-loss or gains in weight in turnouts will either extend or shorten time to achieve financial goals of profit making and for business to sustain itself.
Once ponds are constructed, fish to be stocked are booked or produced at least one month before stocking and other facilities put in place, venture can be become operational within 2 months from day of financial mobilization and cash backing. It is also expected to become profitable not more than 1 year after 1st harvest, 1st harvest is expected to be not more than 6 months after 1st stocking and continues every 2 weeks or monthly. In other words if we stock a certain number every 2 weeks or monthly, after 1st 6 months we should begging harvesting a certain kilogram every 2 weeks or monthly too.
SKILLS AND ABILITIES FOR SUCCESS
Fish farming is a risky business that requires special knowledge and skills. A good management practice is key. Individuals with little or no experience can also be successful. Enlisting assistance of someone in know-how of business either by profession or/and by experience is essential. Supervision and training would also be giving to persons of little or no experience. Other factors to consider include:
Employment of adequate staff and paying competitive salary Employing a marketing officer Provision of official vehicle for farm operations Offering placement for I.T students Networking with other fish farmers and others in industry.
PRODUCTION FEASIBILITY
In Nigeria, there is no special permit needed to establish a fish farm. It is a completely deregulated sector of economy, in fact whole of agricultural sector is. To however gain recognition by government and be a legal entity it is important to register business name with corporate affairs commission, which cost a total of #30,000. With time one can then register it as a private liability company (LTD) which is #50,000 for a company with share capital of about a million.
Fishes live, eat and perform all metabolic activities in water. Water quality management is therefore very important. The factors to consider and their corresponding control are:
Temperature – acceptable level is 26 -28 OC. control is by building a shelter over ponds and supply of oxygen by use of aerators. PH – acceptable level is 6.5 – 9.5. Control is by exchange of water if too acidic or alkali. Salinity/ conductivity – acceptable level is not less than 0.2%. Controlled by diluting with water if salt is high or exchange if salt is low. Mineral and Vitamins – this is supplied through feed. Ensuring sufficient quantity in feed is control. Dissolved gases - this build up as a result of metabolic activities and nitrification and displace dissolved oxygen. Control is by supply of air or exchange of water. This should be 70% - 120% but 100% is optimum
Since we are running a flow through system, these parameters will be managed by change of water as frequent as necessary. Water quality tests can also be carried out frequently and cost of these will be made from fuel and chemicals.
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