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Starting an Aquaculture Business
• You MUST know where your product will be sold before you stock your fish:– Product definition?– Marketing area?– Current prices?– REGULATIONS?
Important aspects
• Selecting a species
• Product form
• Price
• Promotion
• Place
Budget preparation• Variable costs
– Fish• • •
– Feed!– Utilities
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– Capital equipment• •
Budget preparation• Variable costs (cont.)
– Expendable equipment• • •
– Processing• •
– Distribution•
– Fish health managment• • •
Budget preparation• Fixed costs
– Labor• •
– Insurance• • •
– Advertising– Legal and consultation fees– Taxes
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Selecting A Species Selecting A Species
Selecting A SpeciesSelecting A Species
• Choose species with production information available.
• Choose species with production information available.
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Selecting a SpeciesSelecting a Species
CompetitionNative wildNative wild Foreign wildForeign wild
Farmed domesticallyFarmed domestically
Farmed internationallyFarmed internationally
Selecting a SpeciesSelecting a Species
If possible, provide varietyIf possible, provide variety
The Four P's in Marketing The Four P's in Marketing
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Product Product
Refers to market size and the degree of processingRefers to market size and the degree of processing
““Customers don’t Customers don’t want to pay full want to pay full price for anything price for anything and they want to and they want to see how much they see how much they are saving.”are saving.”
Price - Where to Start?Price - Where to Start?
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• ““Did you know that Did you know that every unsatisfied every unsatisfied
customer transaction customer transaction wipes out the total wipes out the total
profits on 5 to 7 profits on 5 to 7 satisfied customers?”satisfied customers?”
• Scale of operation
• Resources available
• Availability of product
• Location of farm
• Scale of operation
• Resources available
• Availability of product
• Location of farm
Promotion - depends on Promotion - depends on
PromotionPromotion
• Must be targeted to your audience.– Income level
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– Marketing location•
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• Must be targeted to your audience.– Income level
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– Marketing location•
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Place - depends on:Place - depends on:
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$15.47 $30.00$15.47 $30.00
Family Style · Atmosphere ServiceFamily Style · Atmosphere Service
Regulations Regulations
Focus on permits to
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Focus on permits to
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Inspection Inspection
Hazard Analysis Critical Control Point
(HACCP)
Hazard Analysis Critical Control Point
(HACCP)
