FISH FARM FEASIBILITY REPORT

Fish farming or aquaculture is a
growing industry full of
opportunities due to the increased
demand for fish as a source of
important nutrients for healthy
living. A small scale fish farm is relatively easy to establish since
the requirements are minimal and
the start-up costs are not
overwhelming. A feasibility report
analyzes an intended project in
terms of its viability, start-up costs and profitability. An ideal small
scale fish farming feasibility report
should include the following steps. Step 1 Introduction. The introduction part
of the feasibility report should
outline the importance and the
advantages of small scale fish
farming. Explain your project fully
in this section. Outline briefly how the project will be rolled out, how
you plan to benefit from the
project and the processes that will
be involved. Basically it is a
summary of the small scale fish
farming project. Step 2 Description of the project. In this
section, clearly outline the project's
location, the environment
surrounding it and the availability
of the resources required to start a
small scale fish farm. Highlight the project's mission and vision.
Business goals and the objectives
should also be included. Also
include a brief history of the
project and what motivated you to
start the fish farm. Step 3 Market description. Describe the
type of industry you will be
operating in, whether you will be
selling your products as a
wholesaler or a retailer. Identify
your target market and how you plan to penetrate that market.
Outline the marketing strategies
you will employ to market your
fish. Step 4 Description of your products.
Highlight different species of fish
that you will be rearing. Describe
how you selected those species.
Explain the pricing of your
products and the competitive edge your fish products have over other
products in the market. Step 5 Organization plan Outline the legal
structure under which the small
scale fish farm will operate,
whether it will be a sole
proprietorship, partnership or a
limited liability company. Identify the type of permits and licenses
that will be required for the
project. Explain the number of staff
and their qualifications that will be
necessary to successfully run the
fish farm. Outline how they will be organized in terms of duties and
responsibilities. Step 6 Marketing plan. Illustrate how you
plan to conduct your market
research to identify how you will
segment your market and how you
plan to satisfy each market
segment. Market segmentation entails identifying the different
portions of the market that are
different from one another in
terms of lifestyle, income levels,
location and spending habits.
Explain the strategies that will be used in the sale and distribution of
your fish to each market segment
to satisfy their unique needs. Also
include the strategies you will
employ to effectively compete with
your competitors in the market. Step 7 Financial management. Identify the
intended sources of capital for your
fish farm and how you plan to use
this capital in your venture. Outline
how the profits will be used to
enhance the fish farm and the measures that will be put in place
to prevent or reduce losses. In this
step you should also be able to
show the projected cash flow
statement, income statement and
the balance sheet statement for the next 12 months. Step 8 Conclusion Give your
recommendations and conclusion
in this section on the viability of
the small scale fish farm. Tips & Warnings Consult a professional accountant
to prepare the projected financial
statements to add credibility to
your feasibility report.
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