Do you want to start fish farm business?

Are you thinking about starting a fish farming business? Well, the fish farming business is one of those businesses which yield extremely high profits as compared to their initial investments. But its startup is associated with a couple of problems, the biggest of which is its difficult planning in the initial stages.
This business has got more constraints as compared to other businesses, that is why you need to develop a comprehensive business plan before moving towards its execution phase. To help you avoid all the trouble of making a plan yourself, we are providing a business plan for a fish farm startup ‘Fishland’ which is soon going to be launched.

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Executive Summary

Our catfish farm business plan executive summary will provide you a summarized information of all next sections.

2.1 The Business

Fishland will be a licensed and insured fish farming company that will involve itself in commercial production of high quality and natural fish and aquaculture. Initially, we will raise and harvest aquaculture for the United States but within next ten years, we see ourselves as one of the leading global suppliers of fish and aquaculture.

2.2 Management

Fishland will be solely owned and operated by Frank Bob who has been associated with the fish farming industry for more than 30 years and has been associated with ‘American Seafoods’ as an Additional Production Manager for the last 7 years.

2.3 Customers

Initially, our customers will be the individual buyers, departmental stores, hotels, and restaurants located in Columbia but we hope to become a global fish producer by the end of next ten years.

2.4 Target of the Company

Our primary target is to become the best fish farming company of the Columbia within next 5 years of our launch and to recover the initial investment group for business plan within next 2 years of launch.

Fish Farm Business Plan - 3 Years Profit Forecast
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Company Summary

3.1 Company Owner

Fishland will be solely owned and operated by Frank Bob who has been associated with the fish farming industry for more than 30 years and had been associated with ‘American Seafoods’ as an Additional Production Manager for the last 7 years.

3.2 Why the fish business is being started

Currently, all fish farming companies are leaning towards artificial methods of farming. Although the production has significantly increased, but this increased production has compromised the quality and ‘naturality’ of produced fish.
Bob is extremely passionate about fish farming and he can only make a difference in the currently used practices of fish farming by starting a fish farm business.

3.3 How the fish business will be started

The company will be started in an old vacant warehouse located in Columbia, South Carolina. In addition to the renovation work, the company will procure fifty 200-gallon tanks for breeding different kinds of aquaculture and fishes. Bob has forecasted following costs for expenses, assets, investment, and loans for the Start-up:

Fish Farm Business Plan - Startup Coast

The detailed start-up information is given below:

Start-up Expenses 
Stationery etc.$6,250
Research and Development$3,750
Expensed Equipment$63,750
Building Materials$27,500
Building Labor$20,000
Start-up Assets$0
Cash Required$118,750
Start-up Inventory$5,625
Other Current Assets$22,500
Long-term Assets$175,000
Total Requirements$495,000
Start-up Expenses to Fund$321,875
Start-up Assets to Fund$495,000
Non-cash Assets from Start-up$118,750
Cash Requirements from Start-up$0
Additional Cash Raised$118,750
Cash Balance on Starting Date$321,875
Liabilities and Capital$0
Current Borrowing$0
Long-term Liabilities$0
Accounts Payable (Outstanding Bills)$0
Other Current Liabilities (interest-free)$0
Planned Investment$0
Investor 1$312,500
Investor 2$0
Additional Investment Requirement$0
Loss at Start-up (Start-up Expenses)$173,125
Total Funding$495,000
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    Services for customers

    Before starting this venture, Bob asked himself, “how can I start fish farming business that will excel other established farms?” and the answer he got was, “by producing best quality fish.”
    Fishland is proud to say that it will only engage itself in the production of best quality and healthy aquaculture. Our main products include:

    • Ornamental fish (e.g. Goldfish and tropical fish)
    • Shellfish (e.g. Clams, oysters, crustaceans, mollusks and shrimp)
    • Finfish (e.g. Catfish, trout, tilapia, and minnows)
    • Other aquaculture (e.g. Seaweed, crabs, frogs, and turtles)

    Marketing Analysis of fish farm business

    A good approach before developing a business plan experts for this business is to find examples of a fish farming business pan and to go through fish farming business plan sample templates, like this one. In this way, you can easily plan all components of a good fish farming business plan.


    The most important component of an effective <strong>business plan for fish farming</strong> is its accurate marketing analysis that’s why Bob acquired the services of marketing experts to help him through this phase. It is only after this stage that a good business plan could have been developed.

    After identifying and analyzing the trends of this business, he developed an effective marketing strategy for developing his catfish farming business plan.

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    5.1 Market Trends

    According to a report from the Food and Agriculture Organization of the United Nations, global fisheries and aquaculture production was more than 158 million tonnes as of 2012. A surging demand for food has resulted in an increased demand for farmed fish. The global aquaculture industry has grown exponentially over the past five decades. In 1960, fish farming production was about 1.6 million tonnes. But by 2012, the production was more than 66 million tonnes.
    Similarly, seafood is one of the most popular foods of the US citizens making it the largest seafood consumer in the world after China. According to the annual Fisheries of the United States Report released by NOAA, Americans seafood consumption was about 15.5 pounds of fish and shellfish per person in 2015. But the most interesting facts is that over 90% of the seafood consumed in the US is imported from other countries around the world. That is why the fish farming industry has a lot of potential in the US and can be immensely profitable provided that you plan it successfully.

    5.2 Marketing Segmentation

    Our marketing experts have identified the following type of target audience which can become the potential customers of our products.

    Fish Farm Business Plan - Market Segmentation

    The detailed marketing segmentation comprising of the company’s target audience is as follows:

    5.2.1 Individual Buyers:

    Fishland will open a small retail location in its initial phase, in the first year of its startup. The retail store will be located in the main commercial district of Columbia city. Through this retail location, we hope to target the individual buyers residing in the nearby areas. Nearly all of the community is financially established and can easily spend their money for buying our fresh and natural fish.

    5.2.2 Departmental Stores:

    We will supply our canned products to various other departmental stores and malls. These departmental stores will make up the bulk of company’s customers and more than half of our aquaculture will be sold to them.

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    5.2.3 Restaurants and Hotels:

    Fishland will also supply its products to various restaurants and hotels on a regular basis throughout the year. These restaurants will become our biggest consumer after the departmental stores.
    The detailed market analysis of our potential customers is given in the following table:

    Market Analysis       
    Potential CustomersGrowth     CAGR
    Individual Buyers21%2,534,4333,343,3441,536,5535,343,7456,524,54513.43%
    Departmental Stores40%7,232,3348,432,3449,456,6659,985,54410,546,43210.00%
    Restaurants and Hotels39%17,342,32218,243,45520,422,65523,482,86725,221,43315.32%

    5.3 Business Target

    We aim to become the best fish farming company of Columbia within next five years of our startup. Our two main business targets to be achieved as milestones over the course of next three years are as follows:

    • To balance the initial cost of the startup with earned profits by the end of the first year
    • To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year


    5.4 Product Pricing

    After considering the market demands, we have priced all our products in the similar ranges as of our competitors. The reason behind our pricing policy is to achieve the minimum attractive rate of return which would not be possible in case of offering our services at lower or higher prices.

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    After marketing analysis, sales strategy is the second most important component of a business plan so make sure to develop it before you think about how to start a fish farming business or even how to write a business plan for catfish farming business.

    6.1 Competitive Analysis

    Fishland will have various competitors ranging from small private farms to multinational organizations. Our competitors may have established businesses but no one will surpass us when it comes to the quality of our products. Our main competitive edge will be the ‘naturality’ of our products which is lacked by nearly all other manufacturers.

    6.2 Sales Strategy

    In addition to implementing the usual sales strategies, we will focus on the following two things:

    • We will create awareness among people about the benefits of seafood by conducting seminars and webinars.
    • We will advertise ourselves in magazines, newspapers, TV stations, and social media.


    6.3 Sales Yearly

    Fish Farm Business Plan - Sales Yearly

    6.4 Sales Monthly

    Fish Farm Business Plan - Sales Monthly

    6.5 Sales Forecast

    Our sales are forecasted as follows:

    Fish Farm Business Plan - Unit Sales

    The detailed information about sales forecast is given in the following table:

    Sales Forecast   
    Unit SalesYear 1Year 2Year 3
    Ornamental fish1,872,3302,360,3202,588,240
    Sea weed265,450322,390393,320
    Crabs & Shrimps802,370815,430823,540
    Other Aquaculture134,240394,340842,230
    TOTAL UNIT SALES5,049,0305,913,1407,412,090
    Unit PricesYear 1Year 2Year 3
    Ornamental fish$1.40$1.50$1.60
    Sea weed$6.50$7.50$8.50
    Crabs & Shrimps$14.00$12.00$10.00
    Other Aquaculture$11.50$13.00$14.50
    Ornamental fish$21,480$27,400$33,320
    Sea weed$13,935$19,460$24,985
    Crabs & Shrimps$6,235$7,230$8,225
    Other Aquaculture$22,950$36,550$50,150
    Direct Unit CostsYear 1Year 2Year 3
    Ornamental fish$0.70$0.80$0.90
    Sea weed$3.00$3.50$4.00
    Crabs & Shrimps$0.70$0.75$0.80
    Other Aquaculture$3.00$3.50$4.00
    Direct Cost of Sales   
    Ornamental fish$9,830$18,300$26,770
    Sea weed$1,940$6,760$11,580
    Crabs & Shrimps$2,770$6,920$11,070
    Other Aquaculture$6,420$22,470$38,520
    Subtotal Direct Cost of Sales$29,410$69,940$110,470
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      Personnel plan

      A detailed personnel plan is always needed in catfish business proposal. The personnel plan of Fishland is as follows:

      7.1 Company Staff

      Bob will act as the Chief Executive Officer of the company. The company will initially hire following people:

      • 1 General Manager to manage the overall operations of the farm
      • 2 Administrators / Accountants to maintain financial records
      • 2 Engineers responsible for operating/maintaining packing processes and machinery at farm
      • 4 Sales and Marketing Executives responsible for creating brand image and discovering new ventures
      • 20 Field Employees for operating farm
      • 4 Drivers to transport products to various retail locations, hotels, and restaurants
      • 1 Store Manager to manage, operate and maintain the retail store


      7.2 Average Salary of Employees

       Personnel Plan   
       Year 1Year 2Year 3
      General Dairy Farm Manager$75,000$85,000$95,000
      Administrators / Accountants$43,000$51,000$59,000
      Sales and Marketing Executives$45,000$52,000$59,000
      Field Employees$210,000$240,000$280,000
      Store Manager$10,000$12,000$15,000
      Total Salaries$467,400$540,400$633,400

      Financial Plan

      Bob has developed the following financial plan with the help of financial experts, which outlines the financial development of Fishland over the next three years. The financial plan should also be developed before you think about how to start a fish farm business. Bob will solely finance the company and no equity funding or outside loan will be required unless the company expands faster than forecasted.

      8.1 Important Assumptions

      General Assumptions   
       Year 1Year 2Year 3
      Plan Month123
      Current Interest Rate10.00%11.00%12.00%
      Long-term Interest Rate10.00%10.00%10.00%
      Tax Rate26.42%27.76%28.12%

      8.2 Brake-even Analysis

      Fish Farm Business Plan - Brake-even Analysis
       Brake-Even Analysis 
      Monthly Units Break-even5530
      Monthly Revenue Break-even$15,974
      Average Per-Unit Revenue$26.87
      Average Per-Unit Variable Cost$0.89
      Estimated Monthly Fixed Cost$19,641

      8.3 Projected Profit and Loss

      8.3.1 Profit Monthly

      Fish Farm Business Plan - Profit Monthly

      8.3.2 Profit Yearly

      Fish Farm Business Plan - PROFIT YEARLY

      8.3.3 Gross Margin Monthly

      Fish Farm Business Plan - GROSS MARGIN MONTHLY

      8.3.4 Gross Margin Yearly

      Fish Farm Business Plan - GROSS MARGIN YEARLY

      8.4 Projected Cash Flow

      Fish Farm Business Plan - Projected Cash Flow Diagram
       Pro Forma Cash Flow   
      Cash ReceivedYear 1Year 2Year 3
      Cash from Operations   
      Cash Sales$401,024$453,046$505,068
      Cash from Receivables$70,923$80,610$90,297
      SUBTOTAL CASH FROM OPERATIONS$471,943 $533,651 $595,359
      Additional Cash Received   
      Sales Tax, VAT, HST/GST Received$0$0$0
      New Current Borrowing$0$0$0
      New Other Liabilities (interest-free)$0$0$0
      New Long-term Liabilities$0$0$0
      Sales of Other Current Assets$0$0$0
      Sales of Long-term Assets$0$0$0
      New Investment Received$0$0$0
      SUBTOTAL CASH RECEIVED$471,943 $533,651 $595,359
      ExpendituresYear 1Year 2Year 3
      Expenditures from Operations   
      Cash Spending$216,457$242,204$267,951
      Bill Payments$135,939$153,285$170,631
      SUBTOTAL SPENT ON OPERATIONS$352,396 $395,489 $438,582
      Additional Cash Spent   
      Sales Tax, VAT, HST/GST Paid Out$0$0$0
      Principal Repayment of Current Borrowing$0$0$0
      Other Liabilities Principal Repayment$0$0$0
      Long-term Liabilities Principal Repayment$0$0$0
      Purchase Other Current Assets$0$0$0
      Purchase Long-term Assets$0$0$0
      SUBTOTAL CASH SPENT$352,396 $395,489 $438,582
      Net Cash Flow$119,551$138,167$156,783
      Cash Balance$218,523$252,381$286,239

      8.5 Projected Balance Sheet

       Pro Forma Balance Sheet   
      AssetsYear 1Year 2Year 3
      Current Assets   
      Accounts Receivable$12,613$14,493$16,373
      Other Current Assets$1,000$1,000$1,000
      TOTAL CURRENT ASSETS$201,259 $237,468 $273,677
      Long-term Assets   
      Long-term Assets$10,000$10,000$10,000
      Accumulated Depreciation$12,420$14,490$16,560
      TOTAL LONG-TERM ASSETS$980 $610 $240
      TOTAL ASSETS$198,839 $232,978 $267,117
      Liabilities and CapitalYear 1Year 2Year 3
      Current Liabilities   
      Accounts Payable$9,482$10,792$12,102
      Current Borrowing$0$0$0
      Other Current Liabilities$0$0$0
      SUBTOTAL CURRENT LIABILITIES$9,482 $10,792 $12,102
      Long-term Liabilities$0$0$0
      TOTAL LIABILITIES$9,482 $10,792 $12,102
      Paid-in Capital$30,000$30,000$30,000
      Retained Earnings$48,651$72,636$96,621
      TOTAL CAPITAL$189,360 $222,190 $255,020
      TOTAL LIABILITIES AND CAPITAL$198,839 $232,978 $267,117
      Net Worth$182,060$226,240$270,420

      8.6 Business Ratios

       Ratio Analysis    
       Year 1Year 2Year 3INDUSTRY PROFILE
      Sales Growth4.35%30.82%63.29%4.00%
      Percent of Total Assets    
      Accounts Receivable5.61%4.71%3.81%9.70%
      Other Current Assets1.75%2.02%2.29%27.40%
      Total Current Assets138.53%150.99%163.45%54.60%
      Long-term Assets-9.47%-21.01%-32.55%58.40%
      TOTAL ASSETS100.00%100.00%100.00%100.00%
      Current Liabilities4.68%3.04%2.76%27.30%
      Long-term Liabilities0.00%0.00%0.00%25.80%
      Total Liabilities4.68%3.04%2.76%54.10%
      NET WORTH99.32%101.04%102.76%44.90%
      Percent of Sales    
      Gross Margin94.18%93.85%93.52%0.00%
      Selling, General & Administrative Expenses74.29%71.83%69.37%65.20%
      Advertising Expenses2.06%1.11%0.28%1.40%
      Profit Before Interest and Taxes26.47%29.30%32.13%2.86%
      Main Ratios    
      Total Debt to Total Assets2.68%1.04%0.76%67.10%
      Pre-tax Return on Net Worth66.83%71.26%75.69%4.40%
      Pre-tax Return on Assets64.88%69.75%74.62%9.00%
      Additional RatiosYear 1Year 2Year 3 
      Net Profit Margin19.20%21.16%23.12%N.A.
      Return on Equity47.79%50.53%53.27%N.A.
      Activity Ratios    
      Accounts Receivable Turnover4.564.564.56N.A.
      Collection Days9299106N.A.
      Inventory Turnover19.722.5525.4N.A.
      Accounts Payable Turnover14.1714.6715.17N.A.
      Payment Days272727N.A.
      Total Asset Turnover1.841.551.26N.A.
      Debt Ratios    
      Debt to Net Worth0-0.02-0.04N.A.
      Current Liab. to Liab.111N.A.
      Liquidity Ratios    
      Net Working Capital$120,943$140,664$160,385N.A.
      Interest Coverage000N.A.
      Additional Ratios    
      Assets to Sales0.450.480.51N.A.
      Current Debt/Total Assets4%3%2%N.A.
      Acid Test23.6627.0130.36N.A.
      Sales/Net Worth1.681.290.9N.A.
      Dividend Payout000N.A.

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