Skip to Content

Tilapia Fish Farm Business Plan [Sample Template]

Are you about starting a tilapia fish farm? If YES, here is a complete sample tilapia fish farm business plan template & feasibility report you can use for FREE.

If you live around coastal regions or in a location that is blessed with lakes and rivers and you are tinkering with starting a business, you need not look further simply because you can successfully start a tilapia or fresh water fish farming business. With this type of business, you can be certain that there is a large market for its produce.

To start with, what is tilapia fish? Tilapia fish are basically fresh water fish that lives in shallow streams, ponds, rivers, lakes and can sometime be found in brackish water. As a matter of fact, tilapia is the general name for over a hundred species of cichlid fish from the tilapiine cichlid fish – tribe.

Beyond the general knowledge of fish farming, you would need to study the process of farming tilapia fish if you want to become successful with the business. In order to business plan template that can help you to successfully write your own with little or no difficulty;

A Sample Tilapia Fish Farm Business Plan Template

1. Industry Overview

The agricultural industry of which Fish and Seafood Aquaculture business is a subset of is no doubt among the leading industry in most countries of the world; it is the industry that produces fish and seafood for the populace.

Because of the significant role the agriculture sector plays, the government of most countries ensures that they go all the way to subsidize seedlings, fertilizers, and farming implements and machinery for farmers and also encourage entrepreneurs to go into commercial farming (fish farming inclusive).

The Fish and Seafood Aquaculture industry comprises of businesses that farm aquatic animals or plants in controlled aquatic environments. Businesses in this industry make use of some form of intervention in the rearing process to enhance production, such as holding in captivity and protecting from predators, pests and disease.

It is important to state that this industry does not including the fishing and harvesting of wild fish and shellfish especially on the high sea.

A study conducted by IBISWORLD shows that the Fish and Seafood Aquaculture industry has indeed experienced slow growth over the last five years. Given that the vast majority of the revenue generated in the industry is derived from sales of fish, mollusks and crustaceans that will be processed into food products, this industry’s success is tied to levels of seafood consumption.

Per capita seafood consumption in the united states has declined over the last five years, putting strain on businesses in this industry.

Nonetheless, increases in the price of seafood, combined with a healthy export market, have boosted the revenue growth in this industry. The revenue generation from The Fish and Seafood Aquaculture industry is projected to grow at an annualized rate of 0.3 percent to $1.5 billion over the five-year period.

The Fish and Seafood Aquaculture industry is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Portugal Germany, Australia and the Caribbean et al.

Statistics has it that in the United States of America alone, there are about 2,087 licensed and registered Fish and Seafood Aquaculture company directly responsible for employing about 10,440 employees and indirectly responsible for employing roughly 1,339,900.

The industry rakes in a whooping sum of $1 billion annually with an annual growth rate projected at 0.3 percent. It is important to state that there are no establishments with a lion share of the available market in this industry. If you are looking towards leveraging on the agriculture industry to generate huge income, then one of your best bet is to start your own tilapia fish farming business.

One thing is certain about starting fish and seafood aquaculture business, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to sell your fish and seafood because there are always food processing companies and consumers out there who are ready to buy from you.

2. Executive Summary

Becker Johnsons® Fish Farms, LLC is a world – class and licensed Fish and Seafood Aquaculture Company with strong bias for tilapia fish farming and will be based in a riverine area in Palm Beach – Florida. We have done our detailed market research and feasibility studies and we were able to secure a hundred hectares of land to start our tilapia fish farming business.

Our fish and seafood farm is going to be standard fish and seafood farm hence will not only be involved in raising and harvesting tilapia fish but other finfish such as catfish, trout, salmon and minnows and also shellfish such as clams, oysters, crustaceans, mollusks and shrimp.

We will also be involved in raising and harvesting ornamental fish such as goldfish and tropical fish and also aquaculture species to augment or replenish wild habitats, and raising and harvesting other aquaculture such as seaweed, alligators, frogs and turtles et al.

We are in the Fish and Seafood Aquaculture industry because we want to leverage on the vast opportunities available in the agriculture industry, to contribute our quota in growing the U.S. economy, in national food production, and also to export fish and seafood from the United States to other countries and over and above to make profit.

Becker Johnsons® Fish Farms, LLC is well positioned to become one of the leading fish and seafood farming business in the United States of America, which is why we have been able to source for the best hands and machines to run the company with.

We have put process and strategies in place that will help us employ best practices when it comes to fish and seafood farming processes as required by the regulating bodies in the United States of America. At Becker Johnsons® Fish Farms, LLC, our customer’s best interest will always come first, and everything we do will be guided by our values and professional ethics.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Becker Johnsons® Fish Farms, LLC is a private registered fish and seafood farming company that is owned Becker Johnson and his immediate family members.

The fish and seafood farm will be fully and single handedly financed by the owner – Becker Johnson and his immediate family members at least for a period of time. Becker Johnson has a degree in Fishery and he has well over 8 years of hands on experience in the fish and seafood aquaculture industry.

3. Our Products and Services

Becker Johnsons® Fish Farms, LLC is a standard fish and seafood farming company that is committed to raising fish and seafood for both the United States’ market and the global market.

We are in the fish and seafood to make profits and we are going to do all that is permitted by the law in the United States of America to achieve our business goals, aim and objectives. These are the areas we will concentrate on in our fish and seafood farming business;

  • Raising and harvesting tilapia and other finfish (e.g. catfish, trout, salmon and minnows)
  • Raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp)
  • Raising and harvesting ornamental fish (e.g. goldfish and tropical fish)
  • Raising and harvesting aquaculture species to augment or replenish wild habitats
  • Raising and harvesting other aquaculture (e.g. seaweed, alligators, frogs and turtles)

4. Our Mission and Vision Statement

  • Our Vision is to become one of the leading fish and seafood farm brands not just in the United States of America but also on the global stage.
  • Becker Johnsons® Fish Farms, LLC is a world class and registered fish and seafood farming company that is committed to raising tilapia fish and other fish and seafood for both the United States’ market and the global market.
  • We want our fish and seafood to flood the nooks and crannies of the United States and other countries of the world.

Our Business Structure

Becker Johnsons® Fish Farms, LLC is a privately owned and managed fish and seafood business that intend starting small farming tilapia fish in fishing community in Palm Beach – Florida, but hope to grow big in order to compete favorably with leading fish and seafood farming companies in the industry both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At Becker Johnsons® Fish Farms, LLC, we will ensure that we hire people that are qualified, hardworking, and creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Operating Officer
  • General Fish and Seafood Farm Manager
  • Human Resources and Admin Manager
  • Accountant / Cashier
  • Sales and Marketing Executive
  • Field Employees
  • Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board

General Fish and Seafood Farm Manager

  • Responsible for the planning, management and coordinating all fish farm activities across the various sections on behalf of the organization
  • Supervises other section manager
  • Ensure compliance during project executions
  • Provides advice on the management of farming activities across all section
  • Responsible for carrying out risk assessment
  • Uses IT systems and software to keep track of people and progress of the growth of fish and seafood in our ponds
  • Responsible for overseeing the accounting, costing and sale of fish and seafood farm produce
  • Represents the organization’s interest at various stakeholders’ meetings
  • Ensures that farming goals desired result are achieved, the most efficient resources (manpower, equipment, tools and chemicals et al) are utilized and different interests involved are satisfied.
  • Responsible for preparing financial reports, budgets, and financial statements for the organization.

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office activities.

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Sales and Marketing Manager

  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Creates new markets cum businesses for the organization
  • Empowers and motivates the sales team to meet and surpass agreed targets

Field Workers / Contract Staff

  • Responsible for feeding fish and seafood as instructed by the supervisor
  • Responsible for cleaning the ponds and the entire fish farm environment
  • Changes the water in the pond as instructed by the supervisor on a regular basis
  • Handles fish and seafood farm implements and machines (hatchery) as instructed by the section manager / supervisor
  • Responsible for raising and harvesting finfish (e.g. catfish, trout, tilapia and minnows)
  • Responsible for raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp)
  • Responsible for raising and harvesting ornamental fish (e.g. goldfish and tropical fish)
  • Responsible for raising and harvesting aquaculture species to augment or replenish wild habitats
  • Responsible for raising and harvesting other aquaculture (e.g. seaweed, alligators, frogs and turtles)
  • Carries out task in line with the stated job description
  • Assists in transport working tools and equipment from the fish and seafood farm and back to the designated store room
  • Handles any other duties as assigned by the line manager.

Front Desk / Customer’s Service Officer

  • Welcomes / receive clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with parents and students on the phone, uses every opportunity to build clients’ interest in the organizations’ products and services
  • Manages administrative duties assigned by the HR and Admin Manager in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
  • Receives parcels / documents for the company and distribute mails in the organization
  • Handles any other duties as assigned by HR and Admin Manager

6. SWOT Analysis

Becker Johnsons® Fish Farms, LLC does not intend to launch out on a trial and error basis, hence the need to conduct a proper SWOT analysis.

We know that if we get it right from the outset, we would have succeeded in creating the foundation that will help us build a standard fish and seafood farming company that will favorably compete with leading players in the Fish and Seafood Aquaculture industry in the United States of America and in the rest part of the world.

We employed the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured fish and seafood farming company with strong bias in tilapia fish farming that can favorably compete in the highly competitive fish and seafood aquaculture industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Becker Johnsons® Fish Farms, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Becker Johnsons® Fish Farms, LLC;

  • Strength:

Our strength as a fish and seafood farming company lies in the fact that we have healthy relationships with loads of major players (agriculture merchants) in the industry; both suppliers of fish and seafood feeds and medications and buyers of fish and seafood within and outside of the United States of America.

We have some of the latest fish farming hatchery, tools and equipment that will help us raise and produce fish and seafood in commercial quantities with less stress. Aside from our relationship (network) and equipment, we can confidently boast that we have some the most experienced hands in Palm Beach – Florida on our payroll.

  • Weakness:

Our weakness could be that we are a new fish and seafood farming company in the United States, and perhaps it might take us sometime to attract big time customers in the industry. We are aware of this and from our projection will overcome this weakness with time and turn it to a major advantage for the business.

  • Opportunities:

The opportunities that are available to us as a standard and world – class fish and seafood farming company with strong bias for tilapia fish farming cannot be quantified, we know that there are loads of households, and businesses such as hotels and fast food restaurants that can’t do without daily supply of fresh water fish and seafood. We are well positioned to take advantage of this opportunity

  • Threat:

Some of the threats and challenges that we are likely going to face when we start our own fish and seafood farming company are global economic downturn that can impact negatively on household spending, bad weather cum natural disasters (draughts, epidemics), unfavorable government policies and the arrival of a competitor within same location.

There is hardly anything you can do as regards this threats and challenges other than to be optimistic that things will continue to work for your good.

7. MARKET ANALYSIS

  • Market Trends

The Fish and Seafood Aquaculture industry has greatly benefited from campaigns advertising the health benefits of fish and seafood as a good source of protein. The vast majority of the revenue generated in the industry is derived from sales of fish, mollusks and crustaceans that will be processed into food products, this industry’s success is tied to levels of seafood consumption.

Per capita seafood consumption in the united states has declined over the last five years, putting strain on businesses in this industry.

Nonetheless, increases in the price of seafood, combined with a healthy export market, have boosted the revenue growth in this industry. The revenue generation from The Fish and Seafood Aquaculture industry is projected to grow at an annualized rate of 0.3 percent to $1.5 billion over the five-year period.

Another notable trend in the industry is that with the recent advancement in technology, fish and seafood farmers can now comfortably predict and produce the quantities of fish and seafood they want to produce per time from their hatchery.

8. Our Target Market

The target market of those who are the end consumer of fish and seafood and also those who benefits from the business value chain of the fish and seafood aquaculture industry is all encompassing; it is far – reaching.

As a matter of fact, every household consumes produce from fish and seafood farms be it finfish (e.g. catfish, trout, tilapia and minnows), shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp), ornamental fish (e.g. goldfish and tropical fish), and other aquaculture (e.g. seaweed, alligators, frogs and turtles).

So also, almost all hotels and fast restaurants sell fish and seafood. In essence a fish and seafood farmer should be able to sell his or her farm produce to as many people as possible.

In view of that, we have positioned our business to attract consumers of fish and seafood not just in the United States of America alone but also other parts of the world. We have conducted our market research and survey and we will ensure that we meet and surpass the expectations we set for the business. Below is a list of the people and business that we will market our fish and seafood to;

  • Households
  • Individuals
  • Hotels
  • Restaurants
  • Fast food eateries
  • Agriculture merchants

Our competitive advantage

It is easier to find entrepreneurs flocking around an industry that is known to generate consistent income- which is why there are increase number of fish and seafood farmers in the United States of America and of course in most parts of the world.

Becker Johnsons® Fish Farms, LLC is fully aware that there are competitions when it comes to selling fish and seafood all over the globe, which is why we decided to carry out thorough market research so as to know how to take advantage of the available market in the United States and in other parts of the world.

We have done our homework and we have been able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors are effective and reliable fish and seafood farming processes that can help us sell our produce at competitive prices, good network and excellent relationship management.

Another competitive advantage that we are bringing to the industry is the fact that we have healthy relationships with loads of major players (agriculture merchants) in the industry; both suppliers of fish and seafood feeds and medications and buyers of fish and seafood within and outside of the United States of America.

We have some of the latest fish and seafood farming hatchery, tools and equipment that will help us raise fish and seafood in commercial quantities with less stress. Aside from our relationship (network) and equipment, we can confidently boast that we have some the most experienced hands in Columbia – South Carolina in our payroll.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups fish and seafood farming companies in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Becker Johnsons® Fish Farms, LLC is in the fish and seafood aquaculture industry for the purpose of maximizing profits hence we have decided to explore all the available opportunities within the industry to achieve our corporate goals and objectives. Below are the sources we intend exploring to generate income for Becker Johnsons® Fish Farms, LLC;

  • Raising and harvesting tilapia fish and other finfish (e.g. catfish, trout, salmon and minnows)
  • Raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp)
  • Raising and harvesting ornamental fish (e.g. goldfish and tropical fish)
  • Raising and harvesting aquaculture species to augment or replenish wild habitats
  • Raising and harvesting other aquaculture (e.g. seaweed, alligators, frogs and turtles)

10. Sales Forecast

From the studies and the survey conducted, we were able to discover that the sales generated by a fish and seafood farming business depends on the size of the fish and seafood farm, the types of fishes and seafood available in the fish and seafood farm and of course the size of their marketing network.

We have perfected our sales and

We have been able to critically examine the fish and seafood aquaculture industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some workable assumptions as well with respect to the nature of fish and seafood farming business that we run.

Below are the sales projections for Becker Johnsons® Fish Farms, LLC, it is based on the location of our fish farm and of course the wide range of fish and seafood that we will be cultivating;

  • First Fiscal Year-: $250,000
  • Second Fiscal Year-: $600,000
  • Third Fiscal Year-: $900,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown that can impact negatively on household spending, bad weather cum natural disasters (draughts, epidemics), and unfavorable government policies. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

We are quite aware that the reason why some fish and seafood farming companies hardly make good profits is their inability to sell off their fish and seafood as at when due.

Our sales and marketing team will be recruited based on their vast experience in the fish and seafood aquaculture industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Becker Johnsons® Fish Farms, LLC.

Over and above, we have perfected our sale and marketing strategies first by networking with agriculture merchants and businesses that rely on daily supply of fish and seafood who are likely to become our customers. In summary, Becker Johnsons® Fish Farms, LLC will adopt the following strategies in marketing our fish and seafood;

  • Introduce our business by sending introductory letters alongside our brochure to stake holders in the agriculture industry, households, hotels and restaurants and agriculture produce merchant et al.
  • Advertise our business in agriculture and food related magazines and websites
  • List our business on yellow pages ads
  • Attend related agriculture and food expos, seminars, and business fairs et al
  • Leverage on the internet to promote our business
  • Engage in direct marketing
  • Encourage the use of Word of mouth marketing (referrals)
  • Join local chambers of commerce and industry to network and market our produce

11. Publicity and Advertising Strategy

Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business.

We intend growing our business which is why we have perfected plans to build our brand via every available means. We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our fish and seafood farming business.

Below are the platforms we will leverage on to boost our fish and seafood farming brand and to promote and advertise our business;

  • Place adverts on community based newspapers, radio stations and TV stations.
  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
  • Ensure that our we position our banners and billboards in strategic positions all around Palm Beach – Florida
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of Becker Johnsons® Fish Farms, LLC and the fish and seafood we sell
  • Advertise our business in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

We are quite aware that one of the easiest means of penetrating the market and acquiring loads of customers for all our fishes and seafood is to sell them at competitive prices hence we will do all we can to ensure that the prices of our fish and seafood are going to be what other fish and seafood farmers would look towards beating.

One thing is certain, the nature of fish and seafood farming business makes it possible for fish and seafood farmers to place prices for their fish and seafood based on their discretion without following the benchmark in the industry. The truth is that it is one of the means of avoiding running into loss.

We will ensure that we leverage on price to win over customers; our prices will be affordable and negotiable. The fact that our business door is open to both smaller and big time fish suppliers means that we will have different price range for different category of clients.

As the business grows, we will continue to review our pricing system to accommodate a wide range of clientele.

  • Payment Options

The payment policy adopted by Becker Johnsons® Fish Farms, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Becker Johnsons® Fish Farms, LLC will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via online bank transfer
  • Payment via credit cards / Point of Sale Machines (POS Machines)
  • Payment via check
  • Payment via mobile money
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for fish farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for fishes and seafood.

13. Startup Expenditure (Budget)

When it comes to calculating the cost of starting a fish and seafood farm, there are some key factors that should serve as a guide. The different types of fishes and seafood to be raised in the fish and seafood farms determines the total cost of setting up the business.

Besides, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a fish and seafood farming business; it might differ in other countries due to the value of their money. Below are some of the basic areas we will spend our start – up capital in setting up our fish and seafood farm;

  • The Total Fee for incorporating the Business (commercial farm) in United States of America – $750.
  • The amount needed to acquire / lease a fish farm land – $50,000
  • The amount required for preparing the farm land (fish ponds and fresh water supply et al) – $30,000
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
  • Marketing promotion expenses for the grand opening of Becker Johnsons® Fish Farms, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The total cost for hiring Business Consultant – $2,500.
  • The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
  • The amount required for the purchase of the first set of fishes and seafood (fingerlings) – $10,000
  • The cost for acquiring the required working tools and equipment / machines / hatchery et al– $50,000
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
  • The Cost of Launching an official Website – $600
  • Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,000

Going by the report from detailed research and feasibility studies conducted, we will need an average of five hundred thousand dollars ($500,000) to start a standard fish and seafood farming business in the United States of America.

Generating Funds / Startup Capital for Becker Johnsons® Fish Farms, LLC

No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. Finance is a very important factor when it comes to starting a business such as fish and seafood farming.

No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.

Becker Johnsons® Fish Farms, LLC is a family business that is solely owned and financed by Becker Johnson and his immediate family members. We do not intend to welcome any external business partner, which is why we have decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $350,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Becker Johnsons® Fish Farms, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our fishes and seafood a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Becker Johnsons® Fish Farms, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of farm land and building of standard fish ponds: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the needed fish hatchery, fish harvesting tools, and other tools and equipment: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
  • Establishing business relationship with vendors – key players in the industry: In Progress