My Catfish Business Plan

BUSINESS PLAN FOR FISH (POND) FARMING BY BUKKU MULTI-PURPOSE COOPORATIVE SOCIETY

Name of cooperative society:

Bukku Fish farming cooperative Society

Year established:

July, 2008

Membership strength:

10 members

Gender:

Male/female

Contact Address:

Ramat Street, old G.R.A., Maiduguri

Telephone:

08034019001

Project type:

Fish Farming

Project site location:

No. 10, Ramat street, Maiduguri.

Local Government Area:

M.M.C.

Type of registration:

Cooperative Society

Experience:

New

Indebtedness:

Nil

Duration of project:

10 years

OUR FISH FARMING BUSINESS PLAN Agriculture is very key to the economic development of the people and also very important for poverty alleviation and human survival.

The catfish business is very lucrative and underexploited business in Nigeria, investment in this kind of business is the right move at the right time, because it is profitable and fast growing business.

Our cooperative society was established with the aim of promoting the growth of fish to meet the demand of the consumers.

Having a better experience in the business, we now decide to embark on large scale fish farming for commercial purpose.

MARKET PLAN Breeding of catfish for business purpose is highly technical and highly profitable when practiced. Technicality of the breeding starts with the housing construction to its feeding process which determines the outcome of the end product, of importance too is the frame structures of the fish. A table size catfish is one that weights one minimum kilogram or attain the age of four to six months and above. This sales for between N400 to N600 per kilogram each in eateries or open market.

Borno state is well known nationwide in fish production , the recent fish farming provides an insight into the success of the business. These also provides products in abundance and cheaply all the year round.

Borno fish is purportedly unique in meals, therefore consumers demand is always all year round.

The cooperative society intend to adopt unique marketing strategy to enable the business all year round. To achieve these four (4) major

plans will be employed to attract more buyers to patronize our products. These plans are as follows:a. Place/location b. Promotion c. Price uniqueness d. Product quality a. Place/location The farm will be located at No. 10 Ramat street, G.R.A. Damboa road, Maiduguri, in M.M.C. L.G.A. site is located because of the availability of land, access road network leading straight to the farm, short deepness to stinking a bore-hole without much difficulties. b. Promotion Sign board will be erected to show direction to farm and its activities, posters will be pasted where necessary during harvesting periods, advertisement will be carried out especially Peace F.M., NTA, BRTV etc. packaging materials will contain the

name of the farm and products clearly written plus the next period of harvest and address, with mobile number for further enquiries. c. Price The price will be reasonable and affordable, within the reach of the common man, taking into consideration the prevailing market price to avoid high costing. d. Product and quality The product will be fresh and smoked fish for sales. During the harvest in the event of low market sales, we decide to smoke the un-sales product. Because keeping the fresh fish in the pond, will mean additional cost for breeding. These products are high bred and improved varieties that use taking care of in a pond to maturity.

PROCESS Process is the sequence of inter-dependant and linked procedures which at every stage consume one or more. Stage No. 1 This involves construction of concrete ponds and also piping and fencing the ponds. Stage No. 2 When all is set and water available, the fingerlings are brought in so that feeding and other activities can go in the farm. Stage no. 3 Provision of water and other condition that can contribute to the growth of the fish. Stage No. 4 Harvesting of the matured fish for sales to the general public and retrieve after which day old fingerlings are brought in to start another cycles.

COST PRODUCTION ANALYSIS Sn Labour cost

Salary monthly

No. of personnel

Total

1

Farm manager

N5,000

1

N30,000

2

Farm attendant

N2,500

3

N15,000

3

Farm consultant

N2,500

1

N15,000 N60,000

NB: The total sum will be spend as salary monthly, with a total number of 5 staff working in the farm.

INSTALLATION COST ANALYSIS Sn. Items 1

Cost N

Construction

of 2,000,000

Number

Total

10

2,000,000

concrete ponds 2

Wiring

of

water 500,000

system 3

Construction

To all the 10 500,000 ponds

of 350,000

1

350,000

500,000

office 4

Store

500,000

1

5

Generator/wiring

200,000

To

the 200,000

entire farm 6

Freezers

200,000

2

deep 200,000

freezers 7

Stinking of bore-hole 350,000

1

350,000

8

Fishing kits

Complete

50,000

9

Furniture and fittings 100,000

Complete

100,000

10

Fencing of the ponds 750,000

10 ponds

750,000

11

labour

The

50,000

650,000

whole 650,000

work

The whole farm expansion will cost us the total sum of 4,550,000.

COST OF 10,000 FINGERLINGS AND THEIR FEEDS 10,000 FINGERLINGS

TOTAL

Buying 10,000 (catfish) each at N30

300,000

1st month

10 bags. Each costs N5,500

55,000

2nd month

20 bags. Each costs N5,500

110,000

3rd month

30 bags. Each costs N5,500

165,000

4th month

40 bags. Each costs N5,500

220,000

5th month

50 bags. Each costs N5,500

275,000

6th month

55 bags. Each costs N5,500

302,000

Drugs

10,000

Fueling of Generator

250,000

Total

1,687,500

THE ESTIMATE PROFIT OF RAISING 10,000 FISHES EVERY 6 MONTHS At the end of production period that is 6 months, fish is expected to attain 1kg body weight. The moderate market price per 1 kg is N500. Since we are raising 10,000 fishes we are expecting 75% of 10,000 fingerlings to attain 1kg, while 25% might not attain the required body weight, due to risk of: 10% mortality: this is the number of deaths due to diseases.  10% cannibalism: this is the act by which bigger fishes eats the smaller ones and it can be prevented by sorting out the larger ones from the smaller.  5% may not attain table size: this natural. Workers salary 10,000 N30 each fingerlings Feed 205 bags, N5500 each Drugs For prevention and curing diseases Fuelling For watering the pond

60,000 3000,000 1,127,500 10,000 250,000 1,747,500

Therefore, total production cost is N1,747,500 and 75% of our fishes expected to attain 1kg each and every 1kg costs N500. That is 7500 x 500 = 3,750,000 Sales = 3,750,000 Therefore, profit is = Sales – total production cost Therefore 3,750,000 – 1,747,500 Profit = 2,002,500

Therefore, the total profit after every 6 months is to the tune of N2,002,500, we can easily observe that in a year there will be two (2) major harvesting periods, this analysis shows that the profit after 1 st and 2nd harvest of the year is to the tune of 4,005,000. Profit after two (2) harvest 1st harvest = N2,002,500 2nd harvest = N2,002,500 1st harvest + 2nd harvest Profit = 4,005,000. We can now observe that the profit is gradually rising up tremendously to a very attractive level.

Having fully analyzed the afore mentioned plan of setting up the said farm, in which the sum of N6,297,500 is required as start-up capital, in addition to the sum of N200,000 as miscellaneous is required.

We therefore, hope that your organization will carefully study this proposal and grant us with a loan of N6,500,000 which we intend to invest as and in accordance with the explanations herein contained. We equally intend to pay-off the anticipated loan in the shortest possible time.

We hope our business plan will be given due assessment and consideration for onward approval, please.