Thinking Of Farm Fishing? Start Your Research

28 December 2017
 Categories: Business, Blog

If you enjoy keeping fish as a hobby and have an entrepreneurial spirit, you may want to consider starting your own home-based farm-raised fish business. Like the old adage says, do what you love, and the money will follow; however, it's a long road from having an idea to actually implementing that idea. Here are the basics you should know to get started on the research road.

What Basic Equipment Will Be Needed?

The biggest piece of equipment you need will be a place to raise the fish. If you already have a pond on your property, you are one step ahead in the game. However, this won't likely apply to most people. Research the procedure and expense involved with having a pond dug. If this is cost-prohibitive, you can also consider other containers, such as galvanized tubs. You can even use galvanized tubs or barrels to get started, but keep in mind the amount and size of fish you raise is limited by the space they have to grow in.

Other equipment you might need depending on your set-up include: a water filtration system, water testing equipment, nets, and fish processing equipment, just to name a few.

How Will You Secure Financing?

Unless you have a substantial amount of savings you are willing to invest, you will likely need to get financing to begin your fish farming adventure.  Whether it's a bank or a private investor, they are going to want to see you have done your homework via a detailed business plan. A business plan is an important step that should not be skipped, regardless of what type of business you want to start. It can help you nail down the details, define goals, and streamline your operations. Writing a business plan isn't difficult, but it is time-consuming. Thankfully, the Small Business Administration has plenty of free advice to offer. Once you register for a free account, you can use their online tool for writing your plan, researching theirs and other websites as needed for more assistance.

Consult The Experts

A professional aquaculture service, like GROWFISH.COM, can provide a tremendous amount of information and guidance as you determine which fish farming path is right for you. From issues of water quality to the perfect aquarium, these specialists will be able to guide you through the necessary steps.

Like any business endeavor, you should do your research. Educate yourself as much as possible by reading books, watching videos on YouTube, consulting the Small Business Administration and an aquaculture service, and if possible, touring a nearby facility that farms fish.