Business plan: small entrepreneurship in fish farming

Business name: Aqiwanzi fish farm, aqiva fish farm, luwanzi

fish farm
1.0 Executive summary;
Introduction
Aqiwanzi farm is a fish farming business with an extensive skill for tilapia formed to
understanding the client’s needs it will be based in a wetland area in miliashi, lubansa village in
chililabombwe. It is set to sell its customers with various types of fish species with the aim to
earn profit from selling and delivering fish from the store that we plan to build on. fish can
provide income and employment not only to the entrepreneur but to both the privileged and
underserved communities thus; we accomplish this by working together with the local people in
providing a variety of fish at an affordable price for families of different status thereby
narrowing the gap of inequality.

When we harvest fish there often will be more than we can use thus we will sell the extra fish to
neighbors and the market. Also, other fish farmers will be provided with the opportunity to buy
fingerings to stock their new ponds there by generating new business opportunities to sole
proprietors

Furthermore, it also aims at empowering the local people in the community through
sustainable fish farming practices while addressing social environmental challenges thereby
providing a sustainable and affordable layering fish for ornamental ponds as a small
entrepreneurship while contributing to local economic development.

Aqiwanzi fish farm business was founded by Mr. B. Sinyangwe who has extensive experience in
aquaculture as he draws his knowledge from bachelor’s degree in agriculture specializing in
farming. The business will be capable to supplement income and even create jobs as a small
entrepreneur
The risk of the business is mainly getting a market and we have already identified our target
market. The cost benefit analysis of this plan shows that in the startup year, with 12,000
fingerlings in stock and projected sales of 11,700 adult fish in one circle which is half a year, we
would make k7,020,000. This implies that about k14,040,000 is realizable annually for two (2)
production cycle which indicates that the project is very much feasible, viable and very much
profitable and as such worth investing.

1.1 Definition of terms

1.2 Business plan

A business plan is a written document which describes the nature of the business, operations
and strategies for the firm, (Dollinger, 2003).

According to Burn, (1990), the business plan underlies the opportunities of the ventures and
helps to recognize the strengths and weaknesses while adding structure to the proposal of the
entrepreneur.

1.3 Mission statement

Providing high nutritional healthy quality fish for commercial and recreational purpose while
empowering local communities through fish production practices with the view of addressing
social and environmental challenges thereby bringing equality whilst contributing to local
economic development.

The objective of aqiwanzi fish farm business is;

 Generate a professional fish production development.

 To successfully meet the challenges and demands of the domestic market
 Maximize the value of our customers’ needs by their presence on the field.
 Project a strong corporate image thereby providing a high-quality layering fish.
 To be efficiency in allocating, delivering resources and accomplish time target.
  Raising and harvesting tilapia and other species e.g catfish, and trout
 Base the business production on a high level of ethics.
 To establish long-term planning for the benefit of the consumers and make more
profit.

Aqiwanzi is a fish-based development business with an extensive skill formed for understanding
needs and delivering according to our clients. Our goal is the success of our clients and the
creation of new businesses development by their involvement.

1.4 Services

Aqiwanzi fish farm is a provider of full-service high-quality fish for small businesses which focus
mainly on quality, affordability and environmental responsibility. The services provided are a
reflection of the vision and needs of our clients having always their success as our motivation
while focusing on creating employment opportunities and supporting community development
initiatives. The Production of tilapia, trout and catfish is one business that demands care and
expertise, the main expenditure in the production cycle is the fish feed and the staff salary. It
takes a life cycle of about six months to get to maturity when feed adequately

Our solution is based on offering the guided fishing trips for individuals and groups specializing
in various fishing techniques and targeting a variety of fish species. In addition to guided fish
trips, we will offer fishing lessons, fishing gear rental and educational workshops on sustainable
fishing practices.
In order to accomplish this, we will need facilities and equipment like, Electric Aeration,
Hauling Trucks and Tanks, Generator, Mechanical Blower, Truck Mounted/ Tractor – powered,
harvesting bag net, Bamboo Screen Trap, Levelling tool, Distilling tool, Seine, Boom Truck, Fish
Basket, Tractors, Picking Truck, Fertilizer Tools, Analysis Kit, Chilling Box, Cast Net, Nets and
Trap, Fingerling Seine, Fingerling Suspension Net, Gillnet Seine generator, Spawning tools,
Fridge etc.
1.5 Business Location
The farm is located in miliashi, lubansa village, in chililabombwe. It covers a vast land and its
environment is cool, dense and part of it is based in a wetland area with access to abundant
fishing grounds and infrastructure for fish production. The wetland area is generally sloping, the
slop would ensure 100% drainage of the pond water. In addition, the farm has an access road to
the main dual carriage way which would reduce transportation cost as the harvested farm
products can easily be transported to our target markets for sale. Weekly sales are also
numerous within the community. The site is also very motor-able hence vehicles can easily
reach the site to evacuate fish farm products.

2.0 Market

The fish will be will be distributed in the market through middlemen and wholesalers. Their role
will be to market our product, identify buyers, and negotiate price. This team will source for the
market and ensure that the products are delivered to customers who make orders. Also, as the
business will be at it start and considering the location of the business, we will be selling
basically on cash but might consider giving credits to individual who purchase in large quantity
either for consumption or resale.

2.1 Market analysis

Fish Farming has started gaining wide spread recognition in the Zambia it has become a
business that all farmers are venturing into. Statistics has it that only 50% of the demand of fish
has been met, Statistics also has it that 51% of poultry farmers are now engaging or converting
to fish farming however this statistic has not taken into consideration the non-registered
farmers nevertheless our target customers will include;

 Individuals
 Households
 Hotels
 Restaurants
 Fast food eateries
 Agriculture merchants
 Underserved communities
 Small scale farmers, local residents and tourists interested in recreational fishing
experiences.
 Marginalized groups interested in aquaculture as a means of income generation and food
security.

2.2 Market trends

Ensuring the availability of raw material and diversify the demand of the product from the food
industry medicine as well as increasing interest in outdoor recreational activities, growing
demand for sustainable fishing practices, and a desire for unique experiences.

2.3 Market threats

Aqiwanzi fish Farm do not intend to launch out with trial and error hence w will conduct a
proper SWOT analysis thereby identifying the competitors, assess their strength and
weaknesses whilst identifying opportunities for differentiation.

The proposed project will be facing threats and challenges like, global economic downturn that
can impact negatively on household spending, bad weather come natural disasters (draught,
epidemics), unfavourable 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.

2.4 Market strategy

Marketing strategy is a process that can allow a business venture to concentrate its limited
resources on the greatest opportunities to increase sales and achieve a sustainable competitive
advantage. Our marketing strategy is centred on the key concept that customer satisfaction is
the main goal. Without customers we cannot survive or exist thus, our sales and marketing
team will be recruited based on their vast experience 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 aqiwanzi fish
Farms. We will adopt the following strategies in marketing our fish;

 We will establish a strong brand identity emphasizing sustainability, professionalism, and

customer satisfaction.
 Introduce our business by sending introductory letters alongside our brochure to
stakeholders in the agriculture industry, households, hotels and restaurants and
agriculture produce merchant etc.
 Advertise our business in agriculture and food related magazines
 Attend related agriculture and food expos, seminars, and business fairs etc.
 Leverage on the internet to promote our business utilizing websites, social media
channels and online platforms to reach potential customers
 Engage in direct marketing
 Encourage the use of word-of-mouth marketing (referrals)
 Offering promotions by giving discounts and seasonal promotions to attract and retain
customers

3.0 Operation plans

We will start by researching and selecting the fish species that are in demand and can suit our
pond system get the fingerlings from the market into the pond and then feeding them with the
various feeds until they are due for harvest and then taken to the market for sales

We will establish a bleeding program and hatcheries to produce high-quality fingering for sale
as well as implementing the best practices for fish husbandry, water quality management, and
disease prevention to ensure optimal health and growth. Offering options for local pickup and
delivery to accommodate different customer preferences.
4.0 Financial plan

4.1 Startup costs

This includes infrastructure development, equipment purchase, fish stock acquisition, marketing
expenses and initial working capital.

Capital investment Amount(k)

Acquiring land

a. Already have a vast land (farm)

b. Fencing the farm
K30, 000

Pond construction

a. For startup, the farm already has three

(5) ponds each can carry about 3000
fishes.
b. Coast of borehole drilling (water
source) K14,000
c. Coast of pump machine to pump
water to overhead tank
K65,000
d. Coast of pond treatment
K20, 000
Total K129,000

Fingerings

a. Coast of high breed fingerings K2000

 b. Coast of feed K10,000
Total
K12,000

Feeding equipment K50,000

Harvesting equipment K35, 000

Equipment for maintenance K40, 000

Other facilities K20, 000

Labour (6 staffs) each k5000x12months K60,000

Total K205,000

The required startup capital is three hundred and seventy-six thousand kwachas (k376,000)
only.

4.2 Revenue streams

Fish have no bye product which you can sale for profit, our revenue will be generated from the
sale of layering fish. Our revenue driver will be the sale of grown-up fish to the market. If we
ensure our fish are alive, healthy, well feed and reach the market the desired size will be able to
raise enough to projecting revenue and expenses to determine the break-even point and
expected profitability over the first few years of operation.

5.0 Sustainability and conservation

Implementing environmentally friendly farming techniques, such as water recirculation

systems, organic feed production, and natural pond management strategies. Prioritizing the
well-being the fish, the surrounding ecosystem, and the local community in all business
operations. In addition, we will increase the access to nutritious food sources and promoting
sustainable food production practices mostly in underserved communities with limited access
to fresh seafood and vegetables.

6.0 Growth plan

We will send the sales team in the field to market and advertise the brand to increase brand
awareness and attract more customers. Furthermore, the cycle period of fish to grow to adult is
six months (24-28 weeks) We intend to start another cycle immediately the adult fishes are sold
and start another cycle at the same scale, that is, with 12,000 fingerlings. We would flood the
lubengele market with our fish which is cheaper than the ones sold in the area. Also, our
second target which is miteta, in the town’s market, there is no fish farm, all the fishes sold in
those location are costly and ours would be cheaper till we fill the market and make them start
buying from us.

We will invest in research and development to improve breading techniques, enhance fish
health and productivity, and develop new innovative products to meet evolving customer
needs.

7.0 Risk and challenges

Challenges in fishing farming lucrative and like any farm or business venture fish farming
involves risks, this risk if not managed carefully could be minimized, as they have the potential
to wipe out your fish stock or make the farm unprofitable. We will identify potential risks such
as disease outbreaks, water contamination, market fluctuations, and regulatory changes

 Fish Loss: This loss could be as a result of disease affecting the fingerlings in the pond.
Some of these diseases include; Enteric Septicaemia, Columnar, Aeromonas, Virions,
Tape Worms, round worms, flukes, etc.
 Water Contamination: Spillage into the ponds could cut off oxygen flow to the
fingerlings or fishes and this would kill the fishes.
  There is no byproduct in fishery unlike poultry where even the drop can be harvested
and sold to other farmers and make extra profit. In fishery, all you get is the flesh.
 Setting up fish farm is capital intensive, much more than that of poultry and snail
farming. Setting up fish farm requires more careful planning and much capital input.

Thus, we will implement risk mitigation strategies such as biosecurity measures, regular
monitoring of water quality, diversification of product offerings, and maintaining adequate
insurance coverage.

8.0 Conclusion

From the facts and figures presented above the following can be concluded and recommended.

• The project is viable and is environmentally friendly.

• The project demonstrates the fact that the local community will be engaged which shows a
sense of corporate social responsibility on the part of the promoters.
• The Financials are okay, as the breakeven point for the project is very good and it will give
value to the investors.

• Theres an expected return on investment.

• The investor would start collecting back of their investment at the end of the first production.
• The management teams that will be in charge of the project are well seasoned professionals in

the industry.

We can therefore conclude that, through strategic planning, operational excellence, and a
commitment to customer satisfaction, the business will strive for long-term success and growth
in the farming industry.
 Table of content
Executive summary…………………………………………………………………………………….………1.0

Definition of terms……………………………………………………………………….……………….……1.1

statement………………………………………………………………………………………………….….…….1.2

Service…………………………………………………………………………………………….…….…………….1.3

Business location.………………………………………………………………………….…………….………1.4

Market…………………………………………………………………………………….….……………………….2.0

Market analysis…………………………………………………………….…………………….…….………….2.1

Market trends……………………………………………………………………………………………………….2.2

Market threats………………………………………………………………………………………………………2.3

Market strategies………………………………………………………………………………………………….2.4

Operation plan……………………………………………………………………………………….…………….3.0

Financial plan………………………………………………………………………………………….…………….4.0

Start-up cost………………………………………………………………………………………………….….….4.1

Revenue streams…………………………………………………………………………….…………………….4.2

Sustainability and conservation…………………………………………………….………………….….5.0

Growth plan………………………………………………………………………………….…………….…….…6.0

Risk and challenges……………………………………………………………………………………………….7.0

Conclusion ……………………………………………………………………………………………………………8.0
 Reference
Burn, P. (1990). Small business and entrepreneurship. Basingstoke: Macmillan education.
Dollinger, M. (2003). Entrepreneurship: Strategies and Resources. Upper saddle River N.J.:
Prentice Hall.