How to start catfish farming business in Nigeria is my point of concentration today.
Now, are you aware that catfish farming is one of the most profitable farming ventures in Nigeria? Today, with the sum of five hundred thousand naira, N500,000, you can secure high breed fingerlings.
Moreover, you would also get catfish feeding which you can farm about 1500 fishes successfully. With this, you can generate a net profit of about N1,125,000 within a period of six (6) months. These are tales from experience, and not just figures based on assumption.
See also: How to Start Floor Tile Business in Nigeria
Does that sound lucrative to you? In any case notwithstanding, you need to understand what venturing into this trade entails. without sound knowledge of what fish farming, you could meet a colossal loss. This notwithstanding is not only of capital but also of your time.
This, however, should not discourage you since. In this article, I am going to teach you all that you should know. Yes, so as to start fish farming and be successful in the business.
See also: Top 12 Warehouse Stock Issuing Tips
Reasons Why Starting Catfish Farming Business In Nigeria is Necessary
(1) Fish is a very staple, if not one the highest source of protein. Also, Omega-3 and other essential minerals like calcium are also sourced from fish. hence, making the product one of ever-increasing demand.
(2) Additionally, fish is used to prepare majority of our delicacies. especially local dishes and as such is of high demand in homes. bar owners and hotels as well make use of catfish.
(3) The fish market is broad and highly unsaturated. The quest for fish exceeds by far, its supply. as such, the fish market keeps widening, large enough to accept new entrants.
Read on: Top Business Monitoring Software(YouScan) in Nigeria
(4) With regard to Catfish farming business, it is very lucrative. Of course, you can easily recoup your investment and generate bumper profits. This can happen over a very short timeframe if you effectively manage your farm.
(5) also, you can start Catfish farming business with small amount of money. This comes with much assurance of generating huge profits. On the other hand, the size of your capital input would determine your profit margin.
With this background information, you should start catfish farming business Nigeria. let us now consider the requirements needed to kick start your cat fish farming business.
See also:How to start cleaning business in nigeria
ENGAGE IN PROPER MARKET RESEARCH AND EFFECTIVE PLANNING
The first thing you need to consider prior to starting any business, such as cat fish business or whatever kind of business it is, is to properly research the existing market so as to uncover the level of viability and sustainability of the venture, ascertain who your competitors are, get to know the prices of materials which you will need to setup and follow through with the business and also, prepare a workable and realistic business plan having real and correct revenue projections and cost estimates. You would need this in making your cat fish business a success.
Read on: Top 10 Business Entities/Structure in Nigerian Business
DO PROPER PERSONAL RESEARCH AND GET TRAINED
You would not jump into this business simply because you have read or heard of its profitability from people. It goes beyond that! it is necessary that you do a thorough research to ascertain what the business all about, read good an educating books and online articles such as this. That’s not all. You need to undergo an apprenticeship period whereby you attach yourself to an already existing catfish farm and get trained for a minimum of one month prior to starting your own catfish farming business. This would help you to learn the roots and thereby avoid wasting your time, capital and other investments.
See also: 102 Best Business Growth Strategies During Lockdown in Nigeria
SECURE SPACE OR LAND
The next thing to do if starting catfish farming business is your intention is to acquire space or land. You can get full plot, half plot, or even more depending on how you intend to scale your operations and the type of pond you wish to use too. For a start, especially for those with little capital, you could make use of a space at your backyard to start small-scale fish farming. As such, lack of finance to acquire large plots of land should not stop you from starting your fish farm.
Read on:20 Best Ways to Increase Your Business with only #500,000 in Nigeria
BUILD PONDS
After you might have secured a space or land, it is now time to build/setup your pond.
There are different kinds of fish ponds like concrete pond, plastic pond, earthen pond, etc. each of these kinds of ponds have their own merits and demerits.
For example, it is cheaper and more convenient to construct plastic ponds which can accommodate small scale cat fish production. However, concrete ponds last longer and are a better choice if you have intentions of remaining in the business for a longer time frame.
Read on: Best 55 Ways to Increase Your Real Estate Business in Nigeria
With earthen ponds, however, the fishes grow faster, as they feel they are still in their natural habitats.
The type of pond you opt for notwithstanding, I advise that you pay a visit to nearby fish farms have a first-hand experience of how each look and works. Also, hire good engineers to assist you to setup the ponds especially if you are constructing a concrete pond. You may do it by yourself anyway, if you have the technical know-how
Read on: Top 11 Prominent Tire Manufacturers to Start Business in Nigeria
MAKE SURE THERE IS REGULAR WATER SUPPLY
Having setup your fish pond, the fifth thing to do is to make sure there is steady supply of water for your fishes.
It is advisable that you sink a borehole and erect overhead tanks to store up water, thereby guarding against scarcity of water. Alternatively, you could get water supply from a well or a nearby stream in as much as you are confident that the water is clean enough and would constantly be supplied to the fish pond(s).
See also: 15 Best Ways to Retrieve Car Keys Locked Inside in Nigeria
Additionally, ensure that you periodically replace the pond water after every two days. Remember, unlike river or stream that flows, the pond water is static and that the feed particles you throw into the water pollutes and clutters the surface of water hence, making it difficult for the fishes inside the pond to breathe in fresh oxygen. This is one major cause of high mortality rates in the fish farming world.
Read on:Best 15 ways to Present Perfect Class Lesson in Nigeria
BUY FISH FEEDS
before you purchase your fingerlings or juvenile, it is advisable that you have your feeds on ground so that immediately you introduce them (fingerlings or juvenile) into the pond, you can actually start feeding your fishes.
Aside from acquiring land, drilling the borehole and constructing your pond, fish feeds accrues the basic operational cost in catfish farming business incurring a whooping over 70 percent of the entire expenditure.
See also:Top 7 Brass Bands Business to make money in Nigeria
We have different kinds of fish feeds in the market and these includes Vita feed, Cuppens, Multi feed, Ziglar, and other locally manufactures fish feeds. It is always advisable at least for the first 2 weeks – 2 months to start feeding the fishes with Ziglar and Cuppens before you proceed with Vita feeds, fish meal and Multi feeds.
Additionally, you can use poultry droppings and other farm bye products as supplements for these feeds. Have it in your mind that as the month passes, the fishes growth would accelerate and the size of their feeds would as well increase.
EMPLOY EFFECTIVE FISH FEEDING METHODS
A lot of farmers incur huge losses due to the mistake they make in the process of feeding their fishes.
Fishes are very sensitive and carnivorous, especially catfishes. So, you must take great care in feeding them so as to reduce mortality rates. Truth is, irrespective of how careful you are or would be, you would still incur some losses due to mortality.
So, firstly, give your fishes high quality feeds.
Read on: 16 Tip to Become Business Development Manager in Nigeria
Secondly, to avoid cannibalism, come up with a feeding routine and adhere to it religiously.
For example, if you feed your fishes two times a day, let’s say by 5am and 5pm, stick to this timing/plan because if you derail in feeding them as at the appropriate time, there is that likelihood of your pond becoming a tug of war, where the principle of survival of the fittest comes to play. The stronger ones are bound to feed on the weaker ones. That ensues in loss for your business.
Read on: How to start a Gym Business in Nigeria
Thirdly and additionally, following an irregular feeding pattern has an effect on the growth and development of your fishes. A decreased growth rate is what results.
Lastly, concentrate your feed supplies to a specific particular section of your fish pond in order to avoid contaminating your and stifling the breath or oxygen regulation in your fish pond and to curtail wastage of food.
See also:14 Tips to Become Future CEO in Nigeria
STOCKING
it is important, as a beginner, to make sure that you obtain your fingerlings from a good source which specializes in fingerlings supply.
Also, focus on getting high yielding and healthy species like the Hathor species – these are usually somewhat brownish in color.
Finally, make sure that you differentiate the fishes based on sizes.
If you need a complete business plan, please let us know. Or, you want us to help you set up this business, kindly contact us.
Otherwise, Please check out these other business ideas