How to Prepare Trout Fish Farming Business Plan
Preparing a business plan is one of the important steps if you are planning on building any type of business. Even creating fish farming projects also needs a good and proper fish farming business plan. In this article, we are going to discuss more specifically about trout fish farming business plan. You will be guided to find out what are the necessary steps and also equipment to establish your business.
But before we jump into the topic of a business plan, have you learned everything you need to know about fish farming? If not, you should start learning about fish farming first so that you can estimate what are you going to include in your business plan later. You can read articles about how to properly cultivate trout fish.
Type of Trout Fish for Fish Farming
First of all, you need to find out what are the fish farming types that are commonly used in fish farming. So far, rainbow trout and brown trout are the two species commonly used in fish farming. Rainbow trout are commonly found in cold water and can weight about 2-3 kilograms. However, in their optimal condition, a rainbow trout can grow well into 120 cm in length and 25.4 kg of weight. Because of its resistance towards disease and fast-growing nature, rainbow trout are usually preferable.
Meanwhile, Brown trout are common in Northern Pakistan. Under its natural habitat, the fish can weigh around 1-2 kg. However, when cultivated in fish farming facilities, the fish can grow up to 100 cm in length and 10 kg in weight.
Selecting the Site for Fish Farming Tanks
The next thing you need to consider and mention in your trout fish farming business plan is the site you are going to use. Whether it is going to be a large scale or small scale where you are going to do trout farming in tanks.
The pond is an important part of growing trout for your fish farming. No matter how big your fish farming will be, make sure to only use a high-quality trout pond. You can get this high-quality trout pond in articles that we have made about Types of Trout Pond and Its Price. They provide fish farm pond in various sizes, therefore perfect for any purpose. From hatching, breeding, to growing adult fishes.
Considering Trout Farming Equipment and Trout Feed
Once you figure out the site where you are going to use for a fish farming business, the next stage is considering all technical requirements including equipment and feedings. For this type of farming, you are going to need hatching tray if you are intended to raise the fishes from eggs. However, if you want to directly buy trout fingerlings from suppliers instead, you are not going to need this device.
Next, you will also need a fish farming tank where you are going to raise your trout fish. You will also need water pumps as trout requires a steady supply of fresh water. This pump will ensure that your fish receive enough supply of clean water. You may also need an aeration device if you are going to raise your fish inside a building. With aeration device, you can also put a larger amount of fish in a fish tank because they will not run out of oxygen supply.
Preparing Your Project Financing
The next thing to do in creating a trout fish farming business plan is preparing your project financing. In this part, you are going to have to determine and write down how much total equity you have for this business. If you have an adequate fund, you may not need investors or loan from a bank. But if not, you may need to do one of these two things.
Calculate the financial projection along with the investment or loan you take from the bank, how long the tenure, and how much you should pay back. This will give you an initial projection of how you should manage the money in hand and using it for the purpose of building your fish farming business.
Calculate the Cost, Expense, and Revenue
Once you figure out the condition of your finances, then you can start to work on the cost and expense you are going to spend to prepare this business. You may write the cost of renting or buying a building for storage or land to build the fish farm or place the tanks. You will also need to write down all the maintenance and operational cost.
The operational and maintenance cost may include trout fish seed or fingerling, fish feed, utility bills, employee fee (if any), and any other expense incurred for this business. Calculate how much it cost per month and per year, therefore you will get a clear view and easily compare your capital, expense, and your profit later.
Also, write down the revenue you generate per month and don’t forget to add how many fingerlings or seeds you have at the beginning, how much unit survived until harvest time, and how much it cost per kg. These are important to find out the trout farming profit information so that you can learn how well your business is going and whether you are suffering from loss or profit.
Determining the Trout Market
Last but not least is determining the target market. Finding out the potential market is one of the most important things in creating a trout fish farming business plan. Trout market is popular in various countries other than where it is originally produced. Find out how people are selling and buying trout in your city. You can collaborate with stores or restaurants as a supplier, or you can also open your farm for direct purchasing from your customers.
Creating a trout fish farming business plan is important to prepare before you actually start fish farming. It will help you to determine your goal and direction so that you are not lost in the middle of your business, a common mistake usually done for a beginner in business.