A Project on Freedom Fishing House

ProjectOnFreedom Fishing House

Prepared for:Md. Lutfar RahmanFaculty of CBA, IUBAT

Prepared by: Name: A S M ShihabID: 12202120Program: BBASec: C

Submission Date: 9th March 2015

IUBAT International University of Business Agriculture and Technology

Executive Summary

I have prepared report is based on Freedom Fishing House. The information, on which the total business plan stands, was the collection of data from the questionnaire made by Freedom Fishing House. To see the market need and wants. Analyzing a fishing firms general information, their performances, their products and services will increase our knowledge and it will be helpful in our future life. Fishing firms are operating their jobs for the welfare of mankind. In this report, we will focus on the cost and time schedule for the production of the fish. All the data have been given with the assumption of future budget.

Introduction:Fish is the cheapest and most easily digestible food and is obtained from natural sources for consumption by human beings. However, due to over exploitation and pollution, the availability of fish in natural water has largely decreased in Bangladesh. To protect this resource, maintain ecosystem and fulfill the demand, fish farming has become the easier way of increasing the fish production and its availability for consumption. Farmers can easily take up fish culture in village ponds, tanks or any new water body and can improve their earnings and living standard. It also creates gainful employment for skilled and unskilled youths. The technology developed for fish culture in which more than one type of compatible fishes is cultured simultaneous is the most advanced and popular in the country. This technology is known as Composite Fish Culture. This technology enables to get maximum fish production from a pond or a tank through utilization of available fish food organisms in all the natural niches, supplemented by artificial feeding. However, the minimum level should not fall below one meter. Even seasonal ponds can also be utilized for short duration fish culture

The Business Idea

Freedom Fishing House projectBusiness NamingFreedom Fishing House is my fishing project.Business TypeMy business types is cultivating fishes in the pond and creating work place for the unemployment people. It is sole proprietor ship business.Project locationMy project location is in Haluaghat, on Five acre of land. The raw material will collect from the nearest fishing raw materials shop, Young fish from nearest Hatchery.

Mission:

The mission of Freedom Fishing House Project is to do environment friendly business and to fulfill economic interest through social accomplishment.

Vision

The vision of Freedom Fishing House Project is for every family to have adequate means of livelihood and every individual to experience joy with a productive life.

Benefits of Fish Farming:

There are many advantages of starting commercial fish farming business. Here we are describing the main advantages of fish farming business. According to the demand, commercial fish farming business allows for large supplies of fish. Catching fish from the wild cant always fulfill the consumers demand. In such cases commercial fish farming can meet up this demand. Fish can be raised in tanks until they are ready for marketing, and they dont require the extensive capture of wild fish. Thus commercial fish farming helps to preserve natural ecosystems. Fish are very popular as food around the world. So there is an established fish market, and you dont have to worry about marketing your products. You can start fish farming business in both large and small scale production purpose. If you dont have enough capital for starting this business, then you can apply for bank loans. Many banks will allow loans for starting this business commercially. Fish farming business is a great source of employment. More than 1 billion people around the world depend on fish as their primary protein source. And most of this people are directly or indirectly involved with fish products or fish farming business. As a result, fish farming creates a great income and employment source for the people. Global fish exportation business is now earning more money every year, than any other food commodity. Even you can meet up your daily family nutritional demands through small scale fish farming in tanks or ponds.Problems of Pond Fish Culture1. Multiple use of pond water: Almost all the ponds in Bangladesh are household ponds with a wide variety of combinations of uses.2. Lack of technical knowledge: Extension of technical knowledge among fish farmers and attempts to disseminate information on fish culture was very weak in the past all over Bangladesh.

Problems Overcome way The Agricultural bank agrees to provide the Financial support We need to protect this pond from multiple uses by making awareness of the local people Establish such an environment where this gender people will be able to get the chance to earn, get education and accommodation Government contribution is needed.

Business Consideration

Example of similar businessThe similar business which are existing right now is shamim Hechary , Alam Fishing House .I got the business idea and informations from that business. Entrepreneurial background is only the idea of those some similar project or business.

To Start Fish Farming Business:

For maintaining a profitable fish farming business,I have to go through some step by step process. The steps for starting a fish farming business includes a suitable lease pond , fish farm type (only pond), selecting fish species, feeding, care & management, harvesting and marketing. For running a successful fish farming businesses follow every step very carefully.Points for consideration:

(a) Location of pond: Soil should be water retentive, availability of assured water supply and the area, which is not prone to flood, may be identified.

(b)Pond management: Before stocking, clear the pond of unwanted weeds and fish either by manual using fishnets or by using Mahua oil cake. Alkaline nature to be maintained by adequately adding lime in the ponds. Fertilize the ponds properly to improve the natural availability of phytoplantation.

(c)Stocking: Ponds will be ready for stocking after 15 days of application of fertilizers. Fingerlings of 10 cm size should be used for stocking @ 5000 numbers per hectare.

(d)Post stocking: Apart from natural food, fish may be fed by rice bran (or) oil cake. The feed may be placed on bamboo tray or it may be sprayed at corner of the ponds. Organicmaturing may be done at monthly intervals @ 1000 kg/ha.

(e)Harvesting: Generally done at the end of one year, when fish attain a weight of 750 gm to 1.25 kg.A production of 4-5 tons is possible in one-hectare pond

Project Investment CostThis project will require 14, 00,000 Lac as start up. All the Investments are used for lease the pond, collecting materials, Young fishes and so on.

Source of fundThe source of this fund has been collected from own capital and Bank Loan (Agriculture Bank)Production budgetThe total and production budget is depends upon the types of business. The project is about Fish farming. So I need some raw materials and a land like pond. I take a pond by lease. So here is the projection list of the raw materials and budget list.Budget List:Types of raw materialItems of cost Amount(TK)

Pond(10 years) 1000000Water pump - 15000Hand tools- 3000Boat 8000Net 40000Feed(1 Year)- 70000Care taker salary(1 Year) 60000Labor cost 20000Transportation 6000Selling expenses 8000Cottage 15000Primary Processing cost - 30000Young fish (2 times in a year)- 150000

Total cost 1425000

Source of raw material: All the raw materials are collected from the Haluaghat fishing raw materials shop, Young fish from nearest Hatchery. It is easy to collect all those things because the materials cost are cheaper than the other markets.

Product categories

Products Major Carp:Catla

Zoo plankton feeder

Surface feeder

Rohu

Omnivorous

Column feeder

Mrigal

Detritivorous

Bottom feeder

Exotic carps:

Silver carp

Phytoplankton feeder

Surface feeder

Grass carp

Herbivorous

Surface, column and marginal areas

Common carp

Detritivorous/OmnivorousBottom feede

We also cultivate some other fishes such as Koi, Tilapia, Nylotica. Because they will be large in a short time (3 months)Marketing Sales StrategyGeneral Marketing strategy of Fish:1. Fish-marketing channelsDomestic markets and distribution of fish are dominated by a large number of intermediaries. All fish traded internally and for export pass through private channels. 2. Primary marketsMarkets located in villages, district headquarters or at a crossroads are considered primary markets they are usually near areas where fish are caught. Fishermen bring a variety of fishes (dominated by small fish from both open-water capture and from ponds) to the primary markets.4. Secondary marketsThe Beparies take the fish bought from the Nikaries/fishermen/primary markets/landing points to the nearest Upazila or river port markets by road, river or rail to sell to wholesalers or through Aratdars. From these secondary markets/assembly points the distribution of fish moves through different channels to urban markets/higher secondary markets by commissioned agents for wholesalers/Aratdars, or by other kinds of Beparies. Bhairab Bazar, Kuliarchar, Narshindi, Munshigonj, Deborghat (Sunamgonj), and Madaripur are landing points and secondary market centres for freshwater fish species.Market CompetitorMarket compotator always is not effective for this business but not all time. Because collectors always search the new source for minimizing cost. There are some Local competitors in our business.They have 3 to 10 years experience.Target CustomerThe products are the fishes and the main target customers are the whole sellers of the rural and town market. For capture the customer we need to provide the quality products like healthy fishes, various types of fishes and minimum price that is suitable for us. So we always try to bring our customer in the field to show our project in directly.

The probable Financial Statement of this project is given bellow:Freedom Fishing HousesIncome statementAt the time of 31 December 2015 Items of expenses

Amount(TK)

Sales revenue(-)cost of goods soldGross Profit(-)operating expense

Selling expense8000

Transportation 6000

Care taker salary 60000

Raw material 93000

Total operating Expenses

Bank loan Interest and installment

Operating Profit

Depreciation

Pond(10 years) 100000

Water pump 3000

Boat 2000

Net 8000

Primary processing cost 6000

Cottage 3000

Total operating expense

Net profit

800000

(150000)

650000

(167000)

(110000)

373000

(122000)

251000

Probability of 1st Year Balance Sheet:Freedom Fishing HousesBalance sheetAt the time of 31 December 2014Assets Amount(TK)

Current Assets

Cash

Bank Account

Total Current Assets

Long-term Assets(current)

Land and Pond (lease for 10 Years)Water pumpBoat

Net CottageEnding Inventory

Total Long-term Assets

Total Assets

199000

600000

799000

900000

12000

6000 32000

12000

10000

972000

1771000

Liabilities and Capital

Liabilities and capital

Amount(TK)

Capital

+Net Profit

Current Capital

Bank Loan

Payable Account

Total (L & OE)1000000

251000

1251000

500000

20000

1771000

Income statement analysis

Sales revenue =800000(TK.)Total operating expense = 549000(TK.)Net profit =251000(TK.)Total Assets=1771000 Total Liabilities and capital=1771000

Social impact on our businessDrug addicted people are unproductive and destructive factors of family as well society because of their inactiveness.Actually the project idea is about work with this community in our area and if possible from other parts of the country. Now a day the number of them is increasing. They are thought as burden of our society. Here I want to enter in the society as the turning point of their life. I want to do something for them. I want to create some work place for them. The benefit will be-1. The project will contribute to the GDP2. After getting the proper training and experience in future they will start their own business.3. They will be no more burden of the society.Conclusion: At least we can say that The Freedom Fishing House will provide the fishing demand of the customers as well as the rural and town market. This project is the middle level project in Haluaght, we aspect that our customer we need to provide the quality products like healthy fishes, various types of fishes and minimum price that is suitable for us. This type of project produce the more fish & control the fishing market & creating the work place for the unemployment people. The project will be complete according the project management activities as per the schedules, resources, and others requirement process.

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