Catfish Farm Business Plan

Summary of the Report
BACKGROUND OF THE COMPANY

Summary of the Report

Nonye Fish Concept was created in response to Nigeria’s under-utilized water resources and the unprecedented increase in demand for seafood owing to its health and flavor benefits.

Through professional growing and marketing of Catfish for neighborhood consumption, Nonye Fish Cultivate aspires to capitalize on the lucrative advantage of sparkling fish food that is simple to farm in our surroundings.

In Nigeria, there is little competition, but there is a lot of demand. This is why I’m focusing all of our attention on it. I’ve spoken to a few successful company owners and considered what steps may be made to elevate this commercial operation to the next level.

This commercial venture is estimated to cost about two hundred thousand naira,s to begin with, but is expected to generate around four hundred thousand nairas in three months, and thus a million naira in nine months. I’ve been able to get a piece of land for the firm, as well as a market base and clearance from regulatory organizations. We’ve built a professional brand for Nonye Fish Farm and are ready to take it to new heights.

I want to use my expertise in fish farming to achieve my objectives and earn gold-like profits since the business promises a 700 percent return on investment in a year.

Almost every family eats fish, which is a well-known fact. In Markurdi, there are over 200 thousand people waiting to get their hands on my goods for food consumption and processing. And as we expand, I want to market my product to additional states around the nation. This puts a burden on my farm, as I try to feed as many people as possible in Markurdi, which is made up of hotels, restaurants, and dorms, among other things.

BACKGROUND OF THE COMPANY

The company’s description

Nonye Fish Farm is a fish farming company that was founded to help alleviate the problem of a lack of fish and a high price for it in the country. Nonye Fish Farm is situated in Markurdi, Benue State, Nigeria’s Middle Belt.

Statements of Vision and Mission

Vision

Developing catfish and promoting and marketing it for availability in the town of Markurdi to meet the high demand for fish in Nigeria.

Statement of purpose

Feeding the people with abundant and healthy fish by professionally raising them with herbal feed and selling them at the lowest possible price via solid business acumen.

Purpose of Business

Nonye Fish Farm is to make fish a common meal in the area, decreasing or eliminating the region’s heavy consumption of imported raw fish and lowering its high market price.

Proposition of Value.

NONYE FISH FARM is backed by a strong commitment to human health, agricultural growth, and a strong work ethic.

Business’s Critical Success Factor

Nonye Fish Farm makes use of the following elements:

Nigeria has a low cost of fish production.

Governmental assistance, since the Nigerian government is a significant supporter of agriculture. Fish is consumed by the majority of homes and individuals, hence the market is growing.

Our competitive edge is that we can develop our fish with herbal diets and promote their longevity and luster via cost-effective sales. The health benefits of fish, which are high in protein.

Current Business Situation

During the incubation period

The Business Industry’s Potential Challenges

Predators like snakes, water-borne infections, and pollution might all pose problems for our fish company.

PLAN OF MARKETING

Product(s) or Service(s) Description

Fresh, mature, and delectable fish

Packaging/Strategy for Delivering a Product or Service

Because we raise and promote the remaining fish, we provide our clients with freshly killed fish. We package our goods with a unique brand identity for our company.

The Possibility

The options available to me are incalculable. I envisage hotels, recreational centers, adjacent raw food shops, and high demand from families as partners.

Market You’re After

We raise catfish for every household in Markurdi as well as those who like it in the city. This includes restaurants, hotels, and dining establishments.

Competition

The importation of frozen fish is a major competitor for us.

Strategy for Pricing

To maintain the best possible price for our goods, we shall make the following commitments: For our farm, I chose a low-cost yet functional website
I buy healthy fishlings with disease resistance so that I don’t end up selling a few fish at maturity, hence inflating their price.
I make sure that my firm is overstaffed in order to keep the average pay for employees manageable.
The expense of jogging our farm is kept to a bare minimum.
We attempt as much as possible to persuade customers to visit our farms in order to offer our food to market purchasers, which will help reduce the cost of shipping our fish to the market and other logistics.

Strategy for Marketing and Promotion

To advertise and promote the company, we will be tempted to use all available talent (both traditional and non-traditional ways).
Our plans are as follows:
To advertise our company, we may use the internet and social media platforms such as Instagram, Facebook, Twitter, YouTube, Google, and others.
Distribute our flyers or handbills at key locations.
Call hotels, restaurants, and people who live in our target areas to let them know about our pond.

Distribution

As my company expands, I make certain that we have accessible and functional company vehicles for transporting our products to markets or customers’ businesses.
Methodology of Sales
Our purposeful sales strategies for achieving the most desired sale are as follows:
We will organize promotions and discounts for the initial group of customers who will use our product and for those who will purchase large amounts.
We’ll have recognition workshops and educational rallies on the health benefits of eating fresh fish. There will be planned contests and chat programs during these gatherings. We’ll also give away some of our stuff for free.
On certain days, offer them at a discount to encourage people to purchase them and increase the visibility of our items.
On our farm, we will also encourage direct income and character purchasing for others in the area.
We’ve also set up a Facebook profile for our firm (Nonye Fish Farm) to facilitate online engagement with our customers, as well as a blog (Nonye Fish Farm) where we publish health information and promote our uniqueness.

PRODUCTION/OPERATING STRATEGY

Description of the Environment

Nonye Fish Farm is situated on Makurdi’s North Bank and has a pond that is 20 feet wide by 15 feet deep with an overhead tank above it.

The site is ideal for both animal pest management and water supply.

Consumables and raw materials are required.

For our operation, we’ll need the following:

Techniques and Processes of Production

The following are the stages involved in plantain farming:
Acquisition of adequate site: A thousand potential fish ponds may be accommodated on a minimum of one acre of land.
Clearing the ground and constructing the pond.
Water pumping and fertilization
Fish are thrown into the water.
Fish are fed.
Water quality and fish health are being monitored.

Fish are weighed and recorded.
Fish harvesting and promotion

Legal Situation

The business has received consent from the community leaders of the location we are utilizing. The company was incorporated with the Corporate Affairs Commission (CAC) and paid a fee for a Certificate of Occupancy (C of O) for a single parcel of land.

Labour

PLAN FOR ORGANIZATION AND PERSONNEL

Ownership of the Company

The company is a sole proprietorship, which allows for easy coordination and realization of the entrepreneurs’ visions.

Entrepreneurial Profile

I, Eke Chinonye Faith, a student at the University of Agriculture, Markurdi, majoring in Animal Breeding and Physiology, am a vivacious and enthusiastic agripreneur. My objective is to beautify Nigeria’s agriculture sector, hence enhancing profitability and employment creation.

Personnel in key positions of management and support

The Chief Operating Officer is in charge of the following responsibilities:

Farming strategies for average profitability and ease of operation
Signing of commercial contracts for the company

The Pond Manager is in charge of the following responsibilities:

The finest of the pond’s water
The growth and fitness of fish
Supervising other part managers’ records should be kept.
Assuring compliance throughout the performance of assignments
Our threat assessment is being carried out by a salesperson.
After harvest, supervise the accounting, pricing, and selling of agricultural products.
Managing the company’s financial dealings
Strategy for Personnel
Market research, marker improvement, and sales, according to S.M. Hafizur Rahman (expert).

The administrator/accountant is in charge of the following responsibilities:

Threat analysis and financial forecasting
Creating the organization’s financial budgets, reports, and financial statements
Payroll administration
Creating and administering financial policies and systems
Serves as the company’s internal auditor.

Salary Schedule Summary

Schedule Table : Salary for employees

This is our revenue scale for the first year only, albeit it will expand. Salaries would undoubtedly rise year after year until we established a standard wage.

CANVAS FOR A BUSINESS MODEL (BMC)

RISK AND MITIGATION IN THE WORKPLACE

PLAN OF ACTION FINANCIAL

The financial model sheet in MS-Excel will be used to calculate this.

Assumptions Financial

Our financial assumptions are based on the premise that there would be no financial inflation, that the opposition will be fair, and that plantain demand will remain steady.

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