BUSINESS PLAN

FOR

FISH (POND) FARMING

BY

BUKKU MULTI-PURPOSE COOPORATIVE

SOCIETY
Name of cooperative society: Bukku Fish farming

cooperative Society

Year established: July, 2008

Membership strength: 10 members

Gender: Male/female

Contact Address: Ramat Street, old G.R.A.,

Maiduguri

Telephone: 08034019001

Project type: Fish Farming

Project site location: No. 10, Ramat street,

Maiduguri.

Local Government Area: M.M.C.

Type of registration: Cooperative Society

Experience: New

Indebtedness: Nil

Duration of project: 10 years

OUR FISH FARMING BUSINESS PLAN

Agriculture is very key to the economic development of the people and

also very important for poverty alleviation and human survival.

The catfish business is very lucrative and underexploited business in

Nigeria, investment in this kind of business is the right move at the right
time, because it is profitable and fast growing business.

Our cooperative society was established with the aim of promoting the
growth of fish to meet the demand of the consumers.

Having a better experience in the business, we now decide to embark

on large scale fish farming for commercial purpose.
MARKET PLAN

Breeding of catfish for business purpose is highly technical and highly

profitable when practiced. Technicality of the breeding starts with the
housing construction to its feeding process which determines the
outcome of the end product, of importance too is the frame structures
of the fish. A table size catfish is one that weights one minimum
kilogram or attain the age of four to six months and above. This sales
for between N400 to N600 per kilogram each in eateries or open
market.

Borno state is well known nationwide in fish production , the recent fish
farming provides an insight into the success of the business. These also
provides products in abundance and cheaply all the year round.

Borno fish is purportedly unique in meals, therefore consumers

demand is always all year round.

The cooperative society intend to adopt unique marketing strategy to

enable the business all year round. To achieve these four (4) major
plans will be employed to attract more buyers to patronize our

products. These plans are as follows:-

a. Place/location

b. Promotion

c. Price uniqueness

d. Product quality

a. Place/location

The farm will be located at No. 10 Ramat street, G.R.A. Damboa

road, Maiduguri, in M.M.C. L.G.A. site is located because of the

availability of land, access road network leading straight to the

farm, short deepness to stinking a bore-hole without much

difficulties.

b. Promotion

Sign board will be erected to show direction to farm and its

activities, posters will be pasted where necessary during

harvesting periods, advertisement will be carried out especially

Peace F.M., NTA, BRTV etc. packaging materials will contain the
 name of the farm and products clearly written plus the next

period of harvest and address, with mobile number for further

enquiries.

c. Price
The price will be reasonable and affordable, within the reach of
the common man, taking into consideration the prevailing market
price to avoid high costing.
d. Product and quality
The product will be fresh and smoked fish for sales. During the
harvest in the event of low market sales, we decide to smoke the
un-sales product. Because keeping the fresh fish in the pond, will
mean additional cost for breeding. These products are high bred
and improved varieties that use taking care of in a pond to
maturity.
PROCESS

Process is the sequence of inter-dependant and linked procedures

which at every stage consume one or more.

Stage No. 1

This involves construction of concrete ponds and also piping and

fencing the ponds.

Stage No. 2

When all is set and water available, the fingerlings are brought in

so that feeding and other activities can go in the farm.

Stage no. 3

Provision of water and other condition that can contribute to the

growth of the fish.

Stage No. 4

Harvesting of the matured fish for sales to the general public and

retrieve after which day old fingerlings are brought in to start

another cycles.
COST PRODUCTION ANALYSIS

Sn Labour cost Salary monthly No. of personnel Total

1 Farm manager N5,000 1 N30,000

2 Farm attendant N2,500 3 N15,000

3 Farm consultant N2,500 1 N15,000

N60,000

NB: The total sum will be spend as salary monthly, with a total

number of 5 staff working in the farm.

 INSTALLATION COST ANALYSIS

Sn. Items Cost N Number Total

1 Construction of 2,000,000 10 2,000,000
concrete ponds
2 Wiring of water 500,000 To all the 10 500,000
system ponds
3 Construction of office 350,000 1 350,000
4 Store 500,000 1 500,000
5 Generator/wiring 200,000 To the 200,000
entire farm
6 Freezers 200,000 2 deep 200,000
freezers
7 Stinking of bore-hole 350,000 1 350,000
8 Fishing kits 50,000 Complete 50,000
9 Furniture and fittings 100,000 Complete 100,000
10 Fencing of the ponds 750,000 10 ponds 750,000
11 labour 650,000 The whole 650,000
work

The whole farm expansion will cost us the total sum of 4,550,000
.

COST OF 10,000 FINGERLINGS AND THEIR FEEDS

10,000 FINGERLINGS TOTAL

Buying 10,000 (catfish) each at N30 300,000

1st month 10 bags. Each costs N5,500 55,000
2nd month 20 bags. Each costs N5,500 110,000
3rd month 30 bags. Each costs N5,500 165,000
4th month 40 bags. Each costs N5,500 220,000
5th month 50 bags. Each costs N5,500 275,000
6th month 55 bags. Each costs N5,500 302,000
Drugs 10,000
Fueling of Generator 250,000
Total 1,687,500

THE ESTIMATE PROFIT OF RAISING 10,000 FISHES EVERY 6 MONTHS

At the end of production period that is 6 months, fish is expected to

attain 1kg body weight.

The moderate market price per 1 kg is N500. Since we are raising

10,000 fishes we are expecting 75% of 10,000 fingerlings to attain 1kg,

while 25% might not attain the required body weight, due to risk of:-

 10% mortality: this is the number of deaths due to diseases.

 10% cannibalism: this is the act by which bigger fishes eats the

smaller ones and it can be prevented by sorting out the larger

ones from the smaller.

 5% may not attain table size: this natural.

Workers salary 60,000
10,000 N30 each 3000,000
fingerlings
Feed 205 bags, N5500 each 1,127,500
Drugs For prevention and curing 10,000
diseases
Fuelling For watering the pond 250,000

1,747,500

Therefore, total production cost is N1,747,500 and 75% of our fishes

expected to attain 1kg each and every 1kg costs N500.

That is 7500 x 500 = 3,750,000

Sales = 3,750,000

Therefore, profit is =

Sales – total production cost

Therefore 3,750,000 – 1,747,500

Profit = 2,002,500

Therefore, the total profit after every 6 months is to the tune of

N2,002,500, we can easily observe that in a year there will be two (2)
major harvesting periods, this analysis shows that the profit after 1 st

and 2nd harvest of the year is to the tune of 4,005,000.

Profit after two (2) harvest

1st harvest = N2,002,500

2nd harvest = N2,002,500

1st harvest + 2nd harvest

Profit = 4,005,000.

We can now observe that the profit is gradually rising up

tremendously to a very attractive level.

Having fully analyzed the afore mentioned plan of setting up the said

farm, in which the sum of N6,297,500 is required as start-up capital,

in addition to the sum of N200,000 as miscellaneous is required.

We therefore, hope that your organization will carefully study this

proposal and grant us with a loan of N6,500,000 which we intend to

invest as and in accordance with the explanations herein contained.

We equally intend to pay-off the anticipated loan in the shortest

possible time.

We hope our business plan will be given due assessment and

consideration for onward approval, please.