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    Date submitted
  • 21-Apr-2017

Fish Farming

Abstract

Aquaculture or fish farming is the rearing of fish in a close environment aiming at the producing large quality of fish where possible in a giving time frame and in the most economic ways.

Fish farming otherwise called aqua culture is a form of land use whereby land

unproductive for crop production is converted into ponds for the nurturing of

selected fish to market weights and sizes. The impact of fish farming is yet to be

felt in the Nigerian economy. One of the reasons for this low impact is

inadequate information on the profitability and success of fish farming

enterprises. Low protein availability for the teeming population can be stemmed

by investing in fish farming. The products of this project range from Tilapia, Iteterotia to Heterabunehusdepending on the investors desirability. The recommended stocking density is 2 fingerlings per meter square of ponds.

Additional Questions

Who is your customer?

My potential customers includes:- a) Local community: (Lower class, midlle class, and upper class0 b) Potential: (From 18 years above) c) Restaurants: (In my province and all the neighboring province)

What problem does this idea/product solve or what market need does it serve?

It is disappointing to note that Nigeria has the potential of producing 2.5 million tons of fish, but only about 25,000 – 30,000 metric tons is currently available. Again, out of the 4.3 billion annual fingerlings needs only about 55.8 million fingerlings supply is currently available. The wide margin therefore calls for investment in fish farming. The fish imported in the country cannot catch up with the domestic demand of her increasing population. In order to salvage our country in meeting the short fall, NATLAZ FARM decided to venture into aquaculture (Business) in order to produce proteineus fish for the

What attributes will make this idea/product successful? Why do you believe that those features will create success?

We are in a highly lucrative market in a rapidly growing economy. We foresee our strengths as the ability to respond quickly to what the market dictates and to provide quality fish in a growing market. In addition, through aggressive marketing and quality management we intend to become a well-respected and known entity in our respective industry. Our key personnel have a wide and thorough knowledge of the local fish market and expertise, which will go towards penetrating the market.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

• Strategic market segmentation and implementation strategies. • Diversified market segments: ensuring the lack of dependency on one particular market. • Combination of skills in directorship. The directors intend to jointly develop business strategy and long-term plans, having wide experience in product and business know-how. • Establishment and maintenance of strong capital base. • An aggressive and focused marketing campaign with clear goals and strategies.