How can a fish pond become profitable?

[Alexandoy]

I have an uncle who bought a big parcel of land that was sectioned into actually a vast fish pond. Based on his viability study the fish pond would net him a good profit every harvest season. The revenue is at least 3 times the amount of capital and overhead for the fish pond season. I think they harvest season is 3 times in a year. I had the privilege of visiting the fish pond in a sort of family reunion. It was like a vacation place with some huts and some edible plants like vegetables and small fruit tress like papaya and banana. I had to admit that I envied my uncle.

After a year, when I met my uncle in another family reunion, I was surprised that he was converting the fish pond into a vacation place. The land was subdivided into 10 sections which he would be selling. He would net a good profit if his pricing would be accepted by the buyers. The main reason why the fish pond had ended operation is because of the workers. All of them are from that town so they seem to be untouchable. Take note that the fish in the pond cannot be counted so if you put in 1,000 fries (small fish) then you can harvest at least 950 fish (less mortality rate). But his harvest did not even reach half of the quota which means the workers were stealing fish from the pond. That is a neat lesson for beginners.

 

[Caramelle]

It appears that your uncle was not personally involved in the operation of the fish pond and that he didn't place sufficient control over it. I assume that he lived in another place and only pays a visit to the fish pond occasionally and was not in a position or state of health to conduct regular monitoring. Otherwise, the workers would not have had the opportunity to steal from the pond. They would not have dared to take fishes at their liberty. That is the big lesson here. When we start a business like this, we have to be knowledgeable about it and be on top of it. When workers are given opportunities to take advantage of weaknesses in the internal control of a business, even the most ethical and honest ones could be tempted.

Given that humans have economic needs, it is easy for them to get tempted when they know that there is a remote chance of being discovered and penalized for their illegal acts. Placing adequate internal controls and taking an active role in the management and operations of a business are just two of the solutions that small business owners can take to prevent pilferage and misappropriation of resources.​

 

[eldavis]

Fish pound business is a profitable one but there are certain factors that would affect the sales of this business. Your location plays an important role, imagine having your fish pound in a place that they don't eat fish, there would be reduced sales, or a place far away from town, some persons might not want to buy from you when they think of how much they have to spend on transportation, they might want to buy from other persons. Then how you market the business matters as well.

 

[Nite]

Fish pond business is just like other businesses, it requires hard work, accurate record keeping, making informed economic decisions on the buying of feed, attention to details such as health, nutrition and care of the aquatic animals. With a proper business plan, a person can make a good profit in this fish pond business. You have to be really careful in every business, you can't really depend on your workers. If you're not around much, those workers will eventually be trying to steal or take advantage of that situation. When you're doing a business, you cannot put all your trust on your workers, you have to be working alongside them.

 

[Mellorando]

Well in Nigeria. Fish farming is very profitable. With proper planning and good management, N3 million investment in fish farming could easily result to N4 million of pure profit within six months.
There are so many information on the internet on how to start fish farming in Nigeria especially catfish farming but few are detailed enough to really assist aspiring fish farmer to get started. I will be endeavor to make this article as detailed as possible and hope that other experienced fish farmer will add to it as we try to answer people’s questions by commenting. One of the most popular agribusiness in Nigeria is fish farming and for good reasons. Gone are the days when the only means of getting fish is by catching it in the local rivers and ponds through trial and errors. Today, the modern farm practice has made it possible to grow fish in the farms and control the input.

How To Start Fish Farms: 11 Crucial
Steps:
1 Decide on the Fish Species You will
Farm.
2 Choose Your Fish Farming Method.
3 Name Your Business.
4 Create an Amazing Business Plan.
5 Handle the Legal Stuff.
6 Decide on a Location.
7 Acquire All the Equipment Needed.
Design Your Pond.