Do you want to start a small scale Pisciculture or fish farming business? Find here a list of most profitable fish farming business ideas for your ready reference. Additionally, you can develop some of these businesses even at home.
Raising fish for profit is a lucrative business globally. Basically, fishes are the major source of animal protein. If you have your own water bodies then it is better. Otherwise, you can also raise fish at home and in the rivers as open water farming.
Broadly, this is a capital intensive business. Additionally, it demands specific skills, knowledge, experience and day-to-day monitoring. Basically, you have to put attention to every minor issue also. However, according to the investment capacity and area of the water body, you must prepare a business plan.
Before initiating the business, you must identify the capital requirement in every stage of the business. In addition, you must have a marketing plan for your product. Due to the highly perishable nature, you must identify the market before harvesting the fish.
Things To Consider In Starting Fish Farming Business
- First of all, identify a suitable site for setting up a fish farm. Site selection is the most important aspect of this business. Select the site according to the fish species being raised.
- Check the soil quality. You must have a clear and adequate source of water for raising fishes commercially. Additionally, ensure more than 1-meter water retention capacity for at least 6 months of the year.
- Check the pond walls on a regular basis. You must avoid a broken pond wall.
- Select the fish species carefully according to the agroclimatic condition and local market demand.
- Find out reliable suppliers for fish eggs, fingerlings and fish feed. These are very crucial in the fish farming business.
- Check the requirement of specific equipment and tools for your fish farm.
- Finally, check the licensing and permission issues if any.
List of 11 Lucrative Fish Farming Business Ideas
#1. Carp Fish Farming
This is one of the most common species in the Asia-Pacific zone. Carp fish means domestic and foreign fish like Rui fish or other species like this. Katla, mrigal, Kalibaus are south Asian species. And the foreign species are silver carp, grass carp, bighead carp, black carp, common carp, etc. are famous.
Carp fish farming methods depend on the area or environment, availability of equipment, financial situation, knowledge, and skills of the farmer.
#2. Catfish Farming
Basically, Catfish is a very popular source of protein as well as a healthy and delicious source of seafood in the United States. Catfish farming is an easy and flexible agriculture-based business that can also be profitable.
There are many species of catfish available in the market. Basically, the type of catfish you want to grow depends on your target market.
#3. Cod Farming
Nowadays, cod farming is getting immense popularity. Cod prices have risen in response to low supply and cod has become a luxury seafood item for many. Recently, Norway accounted for around 80% of the world’s farmed cod production, and it increased its national production by 59%.
Cod cannot survive in a freshwater lake. However, you can rear them in freshwater tanks under computer-controlled conditions.
#4. Eel Farming
Eel culture does not require expensive water bodies and specific expensive formulated feed. basically, you can start eel farming even from your backyard. Eels are long snake-like fish with a smooth, slimy scale-less skin. They are usually light chestnut brown in color with numerous black spots.
There two predominant types of eels classified based on their method of breathing. These are the water-breathers (Anguilla) and the air-breathers (Monopterus).
#5. Fish Hatchery
The fish hatchery is a lucrative business. However, the business gives the best return when you operate as a medium or large scale basis. Basically, the fish hatchery is a place for artificial fish breeding, hatching, and rearing.
Hatcheries produce larval and juvenile fish and shellfish for transferral to aquaculture facilities where they are ‘on-grown’ to reach harvest size.
#6. Ornamental Fish Farming
Ornamental fish farming is a financially lucrative project and also self-rewarding. In addition, keeping aquarium fishes is one of the oldest and most popular hobbies in the world. However, you must have some basic skills and knowledge about breeding and rearing.
The growing interest in aquarium fishes has resulted in a steady increase in aquarium fish trade globally. You can start and operate the business as home-based also.
#7. Prawn Farming
Freshwater prawn farming is a very profitable business for both small and large farmers. The giant freshwater prawn is suitable for cultivation in tropical and subtropical climates. Apart from the domestic market, the prawn has good export potential too.
The ideal soil for freshwater prawn culture should be a clay-silt mixture or sandy loam comprising of 60% sand and 40% silt with good water retention capacity. There must be enough soil available for pond construction.
#8. Salmon Fish Farming
Salmon farming is the industrial production of salmon from egg to market in a net-cage, pond or contained system. Most of the industry still uses open net-cages in the ocean, and these floating feedlots hold up to a million fish in an area the size of two football fields.
Canada and Chile are the two primary sources of farmed salmon for American consumers. Generally, two-thirds of the salmon consumed by Americans is farm-raised.
#9. Shrimp Farming
Freshwater shrimp farming is suitable mostly in the warmer climate and is similar to marine shrimp farming in many ways. The freshwater shrimp farming processes include growing out your juvenile shrimps into adults and marketing them for profit.
Shrimp production and the success of your business will largely depend on the quality of your pond. Usually, freshwater shrimp farmers don’t get good results with freshly dug ponds because there is not enough supply of food available in the ponds.
#10. Tilapia Farming
Almost all types of people across the world prefer tilapia recipes. Basically, tilapia is one of the very tasty and fast-growing fish species. Therefore it creates a great demand for both fish farmers and consumers. Additionally, tilapia fishes can survive in a wide range of environmental conditions.
Any individual can start a tilapia fish farming business as a small-scale or large-scale basis according to his or her investment capacity.
#11. Tuna Farming
Basically, Tuna is a saltwater fish. Apart from domestic consumption, the tuna has good export potential also. The top six exporters of canned tuna are Thailand, Ecuador, Spain, China, Indonesia, and Mauritius.
Bluefin tuna is sometimes called the “diamond of the sea,” accounting for just 9.8% of all tuna species supplied to the domestic market.
Before initiating a commercial fish farming, it is advisable to have a comprehensive business plan. Like any other livestock farming, here also you can expect revenue at the time of harvesting. We hope this list of 11 best fish farming business ideas will help you to start your own business.
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.