1.

EXECUTIVE SUMMARY

Starlight Farms catfish business is established to meet the fish demand in the community. It will
be located in awka anambra state . The main economic significant of the business is to contribute
towards narrowing down the fish demand-supply gap deficit in Nigeria as well as the supply of
proteins and micro nutrients for feeding the teeming population in Anambra state and south east
in general.

My love for agriculture has been from childhood,I grew up in places like delta state, Anambra
state, Abia state, Imo state and Abuja, cities known for there impacts in the Agricultural system.
Through my years of growing up I came a cross a quote from a great leader Nelson Mandela
which states `it’s in our power to make the world a better place for everyone living in it` The
quote motivated me to become an independent individual,and I realize the importance of
investing in agriculture.also being able to join the agroalied SEAD group,which thought me a lot
and elarged my knowledge on fish farming products, processing and packaging,all thanks to
Nigeria and NYSC to there great impact ok youth development.

The Fish Industry is a lucrative business as the demand for fish in the country is growing
geometrically, the opportunity to expand is necessary because of the growing demand for fish
and due to some health benefits attached to consumption of fish as compared to consumption of
meat.

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 startap year, with 2000 fingerlings
in stock and projected sales of 10,000 adult fish in one circle which is half a year, we would
make N7,020,000. This implies that about N14,040,000 is realizable annually for two (2)
production cycle which indicates that the project is vay much feasible, viable and very much
profitable and as such worth investing.

2. INDUSTRY ANALYSIS

The agricultural industry of which Fish Farming 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 for the
populace.
Because of the significant role the agriculture sector plays, the government of Anambra and
Nigeria 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 Agro 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.

The fish industry involves the cultivation and marketing of fish in a controlled environment for
all or part of their life cycle. The catfish industry in Nigeria is one of the fastest growing
segments of the agriculture fish market today. The growth potential for the catfish market is at its
strongest level ever. The demand for catfish is increasing due to the ever-increasing health
consciousness of consumer. Per capital consumption of fish in Nigeria has increased
geometrically. These increases in demand are stressing the world's natural fisheries, which are
generally considered to be at or near their maximum sustainable yield, thus increasing the
demand for the catfish raised in aquaculture facilities. Not to mention the increasing demand in
our society for locally grown products.

Growth Rate, Industry Size, Opportunity and Sales Projection

The demand for fish according to the federal ministry of agricultural was 2.7 million metric tons
in 2019 while domestic production was 0.8 million metric tons. The Nigerian Federal Ministry of
Agricultural estimates that the demand for fish in the nation is projected to grow from its current
demand by 30%.
This deficit was partly augmented by massive importation of fish of about 1.9 metric tons. This
is a big drawback on our scarce foreign exchange. This still left a huge deficit of 1.9 metric tons,
hence the concerted effort to ensure self-sufficiency in fish production through aquaculture in
Nigeria. The demand for Fish in the country is currently estimated at about 3.51 million metric
tons annually, as against the local annual production of just 1.04 million metric tons, giving a
demand-supply gap of about 2.47 million metric tons. It is very clear that the demand is far
higher than supply.

Nature of Participants

The participants in this industry ranges from other local farming mainly in the south-south, south
east, north East region of this country and also importers of the product. The participants of this
industry are all after which supply type would bring profit.

Industry Structure
The Nigerian fishing industry comprises of three major sub sectors namely the artisanal,
industrial and aquaculture. The awareness on the potential of aquaculture to contribute to
domestic fish production has continued to increase in the country. This stems from the need to
meet the much-needed fish for domestic production and export. Fish species

which are commonly cultured include Tilapia spp, Heterobranchusbodorsalis, Clariasgariepinus,

Mugiespp,

Chrysichthysnigrodigitatus,

Heterotisniloticus,
Ophioce-phalus obscure, Cyprinuscarpio and Megalospp. Fish culture is done in enclosures such
as tanks. The aquaculture sub sector contributes between 0.5% and 1% to Nigeria's domestic fish
production

• Key Success Factor

• The growing population is another major factor because more people are coming ranging from
civil servants to business men and women, investors and people from all part of the country.

• Industry Trends

The demand for catfish is non-seasonal commodity. There are no up and downtrends in this
industry as there is always demand for catfish. Demands even goes higher than normal during
festive periods but they are no periods when demand is below normal as even during fasting
periods, at evening time of break, people would also come to buy to break their fast.

3. COMPANY DESCRIPTION

The company is a new company and will be Registered with The Corporate Affairs Commission
and is willing to belong to the Anambra catfish farming association.

The idea for this business plan emanated from the desire to secure grants to further expand the
operation of the intended business of Catfish farming.

• Our Goals

• To remain pioneers in the fish farm business and to further strengthen our leading position.

To increase the production of our product (Catfish).

To lay emphasis on the vertical integration of the production and to achieve added value.

• To increase productivity and efficiency to the benefit.

To establish long-term planning for the benefit of the consumers and make more profit.
To successfully meet the challenges and demands of the domestic market.

To seek transparency in the structure, operation and production of the Company

Mission

To provide healthy fish of high nutritional value and affordable prices that improves people's
lives and high-quality while improving the lives and livelihood of Anambra and south east
populace in general.

• Products and Services

Production of 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.

Catfish is an indigenous spice. As a result of the growing cost of buying meat, this has created
much demand for fish. This is the market we intend to fill by taking our product (Catfish) to the
market.

* Legal Status

The Company will be registered under the Companies and Allied Matters Act (CAMA 2004) and
will comply with all the necessary rules and regulations that guide the operations of Companies
in Nigeria as contained in the Act.

4. MARKET ANALYSIS

Fish Farming in Nigeria started gaining wide spread recognition in the year 2000 and has now
become a business that all farmers are venturing into. Statistics has it that only 50% of the
demand of fish has been met, why is that so? Statistics also has it that 51% of poultry farmers are
now engaging or converting to fish farming.

Nigeria who is a major consumer of fish has been known for her large importation and
dependence on fishing in rivers, lakes and the sea, yet the demand for fish is still high.

States around the west like Lagos, Ogun and Osun realized the business in good time, that's why
in 2007 Lagos state had over 40,000 registered farmers and 20,000 being fish farmers, this
statistics is not taking into consideration the non-registered farmers.

This large market of life fish has remained untapped by the residence of States in North East,
North West and North Central Nigeria, and that is what Starlight Farms will be offering residence
of Anambra state and South east at large.

On daily bases a large number of fish is been imported into the country in order to attempt to
meet the unending demand yet the demand never seems to reduce. This is an indication that there
is a need for increased fish farming in all states of Nigeria.
Target Market

With the location of our farm in ifite Awka,Anambra state to be specific, we hope to enjoy huge
patronage of the large population here.

Below is a list of the people and business that we will market our catfish to;

• Restaurants

• Fast food eateries

• Agriculture memerchants

• Residents
We are planning to meet a production capacity of 2,700 catfish per month. We would make effort
to contact cold room buyers within, and preservation through drying is also an option we are
planning for. We are also planning to reach out to industrial users that utilize the fish for fish
meal production and other products. Having carried out our feasibility analysis and research on
our target market and location, we have seen that basket load of tomatoes thrown away at the end
of market day but fish is one product that is never sufficient for sale and here are adequate
preservation processes available.

• Buying Behavior

As a new business that is just starting, also considering the location of our 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.

• SWOT Analysis

Starlight Farsm do not intend to launch out with trial and error hence the need to conduct a
proper SWOT analysis.

We know that if we get it right from the onset, we would have succeeded in creating the
foundation that will help us build a standard catfish farming company that will favorably
compete with leading players in the Fish and Seafood Aquaculture industry in the North Central
and in the rest part of Nigeria.

A SWOT analysis was conducted for Starlight Farms . Here is a summary from the result of the
SWOT analysis;

Strength:

Our strength as catfish farmer is the fact that we have healthy relationships with loads of major
players (agriculture merchants) in the industry; both suppliers of fish, feeds and medications and
buyers of catfish within and outside Awka districts.
We acquire some of the latest fish farming tools and equipment that will help us raise and
produce catfish in commercial quantities with less stress. Aside from our relationship (network)
and equipment, we can confidently boast that we hatch fish eggs which enable us reduce cost and
maximize profit and also have some the most experienced hands in our payroll.

• Weakness:

Our weakness could be that we are a new catfish farmer, 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 catfish farmers cannot
be quantified, we know that there are lots of households, and businesses such as hotels and fast
food restaurants that can't do without daily supply of catfish. 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 catfish
farming are global economic downturn that can impact negatively on household spending, bad
weather cum natural disasters (draught, 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.

• Competitor's Analysis

Our main competitor in this fish farming business is the importers of frozen fish. From our
analysis, the cost per kilogram of frozen fish, popularly called ice-fish is N800, to achieve this,
weighing three units which give a kilogram of and a unit of that size of fish bought for N300.
Currently, the catfish is sold to main distributors at N600 per kilogram, and it is retailed at N700
per kilogram, this makes it reasonably cheaper,

survey data has shown that the catfish is preferred to the frozen ice-fish in taste and nutritional
value. For other competitors in the catfish market, we have a considerable advantage, being that
fish farming is our passion and our farm is situated right within reach and the market premises
which makes supervision easier and effective. The business being a sole proprietorship, it is the
owner that will provide all the factors for the production as land, the location and climate of the
area is very suitable for fish production. The business has relatively low overhead expenses with
few staff presently to match current production capacity.

• Benefits to Clients
Most children that grow with low protein intake end up malnourished and low intelligent
quotient. Economically, the continuous importation of frozen fish to the country reduces our
GDP, and thus reduces the national income. Also, the ever increasing rate of unemployment in
the country is truly becoming worrisome to the Government and well-meaning Nigerians.

Like most entrepreneurs, the goal of the fish farm business is for profit, but the underlying
benefits cannot be overemphasized, from putting more fish into the system, thereby increasing
the chance of more source of protein in the society at affordable rate to reduction of
unemployment rate and increase in national income, taxes are paid and wealth and distributed.
ESTIMATED ANNUAL SALES AND MARKET SHARE.

Total annual production

Market Target:

Weeks Fish Supplied to Market

2 Cycles. As it takes 6 months to complete each cycle and our product supplied to the market

WK 27

WK52

Amount of Fish to be sold per 11,700 Pcs per Cycle year

23,400 Pcs

Unit Price

N600

N600
Total Annual Sales

N7,020,000 Per Cycle

N14,040,000

Inputs Required During the Year:

Fingerlings

12,000 Pcs

24,000Pcs

Feeds
196 Bags

392 Bags

Operating Cost:

Fingerlings @ N30 each

N360,000 Per Cycle

N720,000
18 month Feeds 6 bags @ N9,500

per bag

N57,000

N114,000

2nd month Feeds 30 bags

N9,500 per bag

N285,000

570,000

3d month Feeds 40 bags @

N5,700 per bag

N228,000
456,000

4th month Feeds 40 bags @

N4,300 per bag

N172,000
344.000

5 month Feeds 40 bags @

N4,300 per bag

N172,000
344,000

6th

month Feeds 40 bags

N4,200 per bag

N168,000

336,000

Labour
1,555,200

3,110,400

Chemicals

150,000

300,000

Net

7,000

14,000

Miscellaneous expenses

500,000

1,000,000
Total Operating Cost

N3,654,200 Per Cycle

N7,308,400

Returns
N3,365,800 Per Cycle

N6,731,600

REVENUE DRIVERS AND THE PROFIT MARGINS

The end product of fish farm is the grown up (Adult) fish for sale in the market. Unlike poultry
farming or other farms where you can have other bye products like the animal dung, fish have no
such bye products which you can also sale for profit.

Our revenue driver, would be the sale of the grown up or adult fish to the market. The revenue to
be raised here from this sale is high if we are able to work hard and ensure our fish are alive,
healthy and well feed and reach the market desired size. When we buy a fingerling at the cost of
N30, after the growth cycle of 6 months, the fish would be sold in the market for about N600 -
N700, it's a big revenue driver for us. So we have to work hard so that this is achieved.
• Fixed and Variable Cost

• Fixed cost for these early periods are as follows:

• Depreciation

* Variable cost for these early periods are as follows:

• Feeds

• Seed (Fingerlings)

• Fuel

• Electricity

• Chemicals

• Labour Cost|

7. START UP COST

Acquiring Land
a. We already have already acquired a site which will be used for the farm and its properly
fenced,have

POND CONSTRUCTION:

a. For start up, The firm already have Four (4) very big concrete ponds, each to carry 3,000
fishes.

d. Cost of Pond Treatment

N60,000
TOTAL
N570,000

Fingerlings

a. Cost of High breed Fingerlings (N30each X 12000 X 2)

N720,000

b. Cost of Feeds

N2,164,000

TOTAL
N2,884,000

iv.

Feeding Equipment

N120,000

Harvesting Equipment

N120,000

vi.

Equipment for Maintenance, Monitoring and Repair

N100,000

vii.
Other Facilities

N100,000

viii.

Labour (8 Staff) @ 32,400 each for 12 month

N3,110,400

TOTAL START UP COST

N1,000,000.00
• Required Startup Capital

The required startup capital is One million (1,000,000)only

• Grant needed

The grant needed is One Million, (1,000,000) only.

MARKETING PLAN

• Sales and Marketing Strategy

The demand for catfish is non-seasonal commodity, we have plans to reach out to other market in
the North Central states for faster sales and better profit, we plan to also employ the service of
the available modern fish driers as we have identified that dry fish yield more profit and it is
preserved and sold at will. We are also planning to contact Bulk cold room buyers from target
market, who are still looking for more fish supply as the fish demand and fishes' stock have not
been able to satisfy them and they are always on the lookout for more.

We are quite aware that the reason why some catfish farming companies hardly make good
profits is their inability to sell off their catfish as at when due. Our sales and marketing team will
be recruited based on their vast experience in the catfish 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
Starlight Farms.

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 that are likely to become
our customers. In summary, Starlight Farms will adopt the following strategies in marketing our
fish and seafood;

• 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.
: Attend relater agriculture and food expo, seminars and trade fairs etc.
• Leverage on the internet to promote our business

• Engage in direct marketing

• Encourage the use of word of mouth marketing (referrals)

• Specific 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 centered on the key concept that customer satisfaction is
the main goal. Without customers we cannot survive or exist. We intend to use market
penetration as our marketing strategy. This is because the sellers in this location import fish to
sale, so since we would be opening our own fish farm, we would have to take over the market by
penetrating, marking the wholesalers and individual buyers to buy from us until we break the
chain of buying imported fish. We intend to achieve this as we already have new customers and
market demand, lower prices (through flowing on breakeven for the first periods of sale),
aggressive promotion and distribution.

• Opportunity or Problem in the Market to be Addressed

Fish remains the most acceptable and healthy source of protein for human consumption, but this
essential product is not readily available in our local content to address the demand of our ever
increasing population, hence the continuous importation of frozen fish to make up forthe
shortfall, but still the gap in demand and supply keeps widening, giving rise to high cost of
purchase and denial of fish in most homes because they cannot afford it. Rampant cases of goiter
(sickness due to lack of iodine) is been recorded in our hospitals in recent times due to the
scarcity of the main source of iodine, fish in most homes. This is asocial and economic problem I
felt should not be left to the Government alone.

• Our Pricing Strategy

Some of the factors that will help you sell your farm produce at the right price that will guarantee
that you make profits is dependent on your strategy while some of the factors are beyond your
control. For example, if the climatic condition is unfavorable and if there is natural disaster in the
location where you have your catfish farm, then it will directly affect the prices of your fish.

Over and above, if you want to get the right pricing for your catfish, then you should ensure that
you choose a good location for the catfish farm, choose a good breed that will guarantee
bountiful harvest, cut the cost of running your catfish farm to the barest minimum and of course
try as much as possible to attract buyers to your catfish farm as against taking your catfish to the
market to source for buyers; with this, you would have successfully eliminate the cost of
transporting the goods to the market and other logistics.

We are quite aware that one of the easiest means of penetrating the market and acquiring loads of
customers for all our catfishes 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 catfish farmers would
look towards beating.

One thing is certain; the nature of catfish farming business makes it possible for catfish farmers
to place prices for their catfish 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.

• Payment Options
The payment policy adopted by Starlight Farms 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 Nigeria.

Here are the payment options that Starlight Farms will make available to her clients;

• Payment via online bank transfer

• Payment via cheque

• Payment via mobile money

• Payment via bank draft

In view of the above, we have chosen banking platforms such as Access Bank PLC, which is the
best bank in Nigeria .that will enable our client make payment for farm produces purchase
without any stress on their part. Our bank account numbers will be made available our to clients
who may want to deposit cash or make online transfer for catfish.

Product: Our products are in high demand in the market. There is great need and demand for
supply of catfish. We intend to grow our product to be very qualitative and beat down all
imported fish in the market.

Price: Our products price would be fair to those in our target markets, we have greater advantage
as buying from us would mean the buyer would not incur transportation (carrying) cost as our
farm house is close to all our target market. We have considered our prices and have seen that
selling from N600 would give us profit while those selling in the market by other sellers are sold
for N700 - N750. Our Products are price is almost on same benchmark with the prevailing
market price.

Promotions: At the initial or first harvest, we intend to draw customer's attention to our farm and
product by offering discount to customers on total price payable. This discount would be given
as below:
Above 30 pcs of fish 1.5% Discount

• Above 90 pcs of fish 2% Discount

• Above 150 pcs of fish 2.5 % Discount

• 500 and above 5% Discount

Distribution: Our product would be available at the farm sales room (Cool Room) immediately
after harvest where buyers can come to buy, wholesalers, retailer and also individual buyers. We
would make arrangements for customers to contact the sales representative to place order which
would be delivered.
• 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 we position our banners in strategic positions all around Anambra state

- Awka districts.

• 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 Starlight Farms and the catfish we sell

DESIGN AND DEVELOPMENT PLAN

The farm is built in Damagasa town to hold a capacity of 12,000 fingerlings and would be fed till
they grow to adult and sold in the market once they reach the desired market size. The cycle
period is 6 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 Damagasa market with our fish which is cheaper than the ones imported and sold in the
area. Also, our second target which is Gudu, in the town'smarket, 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. The farm house was built to accommodate Four (4) large ponds for
start, Borehole when constructed will be the source of water to the farm house, a drainage system
for disposal of changed water from the pond, a cool room system to serve as store room while we
sales the fish to the market, an equipment store house. The farm land is very large and will be
fenced as we still have hopes to grow as our sales rise.

Light to the farm would be supplied to the farm from the government source but we have a
14KV generator as stand by power due to the high need of light by fish farm.
• Challenges and Risk

Challenges in Catfish Farming: Fish farming is a very lucrative business and a profit maker all
year round. The reason for its profitability can be attributed to the fact that it is a food and it is
always in demand. In fact, the demand for fish can never be met because of the massive
population we have especially here in Nigeria. As any farm or business venture, catfish farming
involves risk. This risk if managed carefully could be minimized, as they have the potential to
wipe out your fish stock or make the farm unprofitable. Some of these challenges and risks
include:
• Fish Loss: This loss could be as a result of disease affecting your fingerlings in the pond. Some
of these diseases include; Enteric Septicemia, Columnaris, Aeromonas, Virions, Tape Worms,
round worms, flukes, etc.

• Fish is very sensitive to manage and a slight mistake could result to degenerated growth of your
fish or even death which may cause massive revenue loss.

• Water Contamination: Spillage into the ponds could cut off oxygen flow to the fingerlings or
fishes and this would kill the fishes.

here is not tale i is her unte poli here eat he dig an he harsted

• Quality of Fingerlings: Poor quality fingerlings may die or even fail to grow and this would
result in a loss of investment.

• 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.

• Failure of water supply: Breakage of watersupply is potentially dangerous to the fish and if
such occurs, there are great tendencies of the fishes dying.

*Fish farming is capital intensive.

It is labor intensive
Cannibalism and high mortality rate of fingerlings

Pest and predators

Market instability

Loss during harvest.

• Projected Development Costs:

We intend to construct more additional 8 ponds to raise our ponds to 12. With this capacity, we
intend expand our production to about 36,000 fingerlings to be raised for sale. A borehole will
need to be drilled and a water tank shall be installed; this will be the source of water for the fish
farm. A greenhouse to further stabilize temperatures shall coverthe fish tank. Among our future
plans is to also purchase hauler trucks (Cold room Vehicle) to facilitate the selling of our fish as
we intend to dominate the whole of North Central States and FCT.

10. OPERATIONS PLAN

General approach to operations

Actual Production Process The fish cycle starts from getting 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.
Why Company Is Cited: The company is cited in ifite Awka due to a host of different factors
which include the growing presence of the civil servants which makes it a growing area with
high population and different people from different parts of the country. This gives us an
advantage in terms of the demand for our fish. Labor is another reason for choosing this
particular location. The Awka(ifite) community is characterized by a population where youths
occupy the largest percentage of the population and most of these youths are Students, drop outs
or those who cannot further their education, these makes it possible for the company to get labor
at a cheaper rate compared to cost of labor in Awka central. Another reason is the fact that with
time the company intends to be hiring graduates especially those from the agricultural
department as workers in the company either on interim basis or permanent basis. With its
nearness to Eke awka and the major city of Awka, the company is exposed to information about
new variety of fish, or new improved feeds through their research and development.

Business Location:

The farm is located in ifite,Awka Districts, Awka Anambra state. The site is generally flat with
gentle sloping which is quite suitable for the farm. This slop would ensure 100% drainage of the
pond water. We have a plot of land there which covers a vast land. The farm site is also located
near the community stream. The environment is cool and dense which support fish production
and there is an access road from the farm to the main dual carriage way which would reduce
transportation cost. Furthermore, 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.

Facilities and Equipment: The facilities and equipment needed in the catfish farming are as
follows: Electric Aeration, Hauling Trucks and Tanks, Generator, Mechanical Blower, Truck
Mounted/ Tractor - powered, Harvesting bag net, Bamboo Screen Trap, Leveling 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

11. FINANCIAL PROJECTIONS

• Sales and Cost Plan

Details

Year (N000)

Year2

(N000)

Year3

(N000)

Year4
(N000)

Year (N000)

Sales

14,040

15,340

15,470

15,340

15,340

Direct

Material

Cost
(3,198)

(3,198)

(3,198)

(3,198)
(3,198)

Direct Labour Cost

(3,110)

(3,110)
(3,110)

(3,110)

(3,110)

Gross Profit

7,732

9,032

9,162

9,032
9,032

Indirect Cost

(1,000)

(1,000)

(1,000)

(1,000)

(1,000)

Net Profit

6,732

8,032

8,162
8,032

8,032

Cash Flow Statement

ITEM
YEAR 1

YEAR 2

YEAR 3

Beginning cash Receipt (Sales)

6,732

14,764

Cash Inflow

14,040

15,340

15,470

Operating Expenses
(1,000)

(1,000)

(1,000)

Fingerlings

(720)

(720)

(720)

Feed

(2,164)

(2,164)
Chemical

(150)

(150)
Labour

(3,110)

(3,110)

(3,110)
Harvesting and Haulage

(120)

(120)

(120)

Others

(44)

(44)

(44)
Total Outflow

7,308

7,308

7,308

Cash Available

14,040

22,072

30,234

CASH BALANCE

6,732

14,764

22,926
12. CONCLUSION

Our fish farm business proposal outlines a comprehensive and suitable approach to establishing
or creating a lucrative and profitable fish farm in Anambra State,Nigeria. With the main goal of
producing high quality catfish for local and regional markets, we aim to capitalize on the
growing demand for fish production while promoting environmental friendly practices.
My farm comprises of Experienced aquaculture professionals and business managers, is
committed to ensuring the success and progress of the Farm. We have conducted thorough
market research,developed a robust production plan,and established a solid financial foundation
to support our operations.

By investing into our fish Farm,you will be supporting a sustainable and socially responsible
business that:

1: Provides employment opportunities for local communities

2: offer high quality fish products to meet growing market demand.

3:Contributes to food security and economical growth of Anambra state and Nigeria at large

We believe that our fish farm has the potential to become a model for sustainable aquaculture in
nigeria, and we invite you to join us ok this exciting journey. Together, we can make a positive
impact on the environment, the economy, and the lives of people in our community.

Thanks you for considering my business proposal. I look forward on discussing this project and
further explore on how the grant will be put in place to achieve success.